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iShares $ Treasury Bond UCITS ETF AUD HedgedIndex, costs, backtest, listings and taxation

ISIN: IE0001DYLX87Ticker: GADUXIssuer: iShares
Issuer-declared data
Declared index
ICE U.S. Treasury Core Bond Index
TER
0.10%
Transaction costs
0.02% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
18.4 mln EUR
NAV
4.79 AUD (1 September 2026)
Domicile
Ireland
Inception date
23 February 2023
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares $ Treasury Bond UCITS ETF tracks the issuer-declared index: ICE U.S. Treasury Core Bond Index. Mind the share class: this is the version hedged to Australian Dollar (AUD) — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.10%, plus 0.02% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication (the KID declares optimisation techniques to achieve a return similar to the index); income is distributed to investors. The fund has assets of about 18 million euro, was launched on 23 February 2023 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the ICE U.S. Treasury Core Bond Index, the Fund’s benchmark index (the “Index”). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index. The Index offers exposure to US Dollar denominated fixed income securities issued by the US Treasury with a remaining maturity (i.e. the time from issue until they become due for repayment) of greater than or equal to one year at the Index rebalance date and a minimum amount outstanding of $300 million. The fixed income securities will pay income according to a fixed rate of interest. The Index does not apply a credit rating requirement, but the fixed income securities will have a creditworthiness matching that of the US Treasury. The Fund uses optimising techniques to achieve a similar return to the Index. These techniques may include the strategic selection of certain securities that make up the Index or other securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund. Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index.

Keep reading the KID section ▾

Your shares will be distributing shares (i.e. income will be paid on the shares semi-annually). The Fund's base currency is US Dollar. Shares for this Share Class are denominated in Australian Dollar. The performance of your shares may be affected by this currency difference. Your shares will be “hedged” with the aim of reducing the effect of exchange rate fluctuations between their denominated currency and the Fund’s underlying portfolio currencies. FDIs, including FX forward contracts, will be used for currency hedging purposes. The hedging strategy may not completely eliminate currency risk and, therefore, may affect the performance of your shares. The shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange (s) on which the shares are traded. Indicative net asset value is published on relevant stock exchanges websites.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · AUD · from Feb 2023 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+7.5%
Annualised
+2.1%
Volatility (ann.)
5.1%
Max drawdown
-7.94%
-7%-2%+3%+8%+13%Feb 2023Jan 2024Nov 2024Oct 2025Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+8%Feb 2023Aug 2026
Note — currency risk: the fund is denominated (or hedged) in AUD and the chart is in AUD. For a euro investor, returns also depend on the EUR/AUD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-2%-4%-6%-8%-10%2023202420252026−7.94% · 19 Oct 2023
Max drawdown
-7.94%
peak → trough
Trough
19 Oct 2023
from the 06 Apr 2023 peak
Recovery time
288 days
recovery only: trough to break-even · ≈ 9 months
Underwater
484 days
decline + recovery: peak to break-even · ≈ 1 year and 4 months · → recovered on 02 Aug 2024

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
06 Apr 202319 Oct 2023-7.94%02 Aug 2024484
16 Sept 202413 Jan 2025-5.11%04 Sept 2025353
27 Feb 202619 May 2026-2.90%ongoing185
24 Mar 202329 Mar 2023-1.19%04 Apr 202311
23 Feb 202302 Mar 2023-1.08%10 Mar 202315

Calendar-year returns

2023
2.2%
2024
-0.3%
2025
5.7%
2026
-0.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.01.8-1.7-0.00.10.4-1.00.3-0.2
20250.62.10.20.6-1.01.2-0.41.00.80.60.6-0.55.7
2024-0.2-1.40.5-2.31.30.92.11.21.1-2.50.7-1.6-0.3
20232.80.4-1.3-0.9-0.4-0.7-2.3-1.43.23.12.2
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.48% /anno
Declared TER
0.10%
YearFundIndexDifference
2025+5.73%+6.19%-0.46%
2024-0.29%+0.70%-0.99%
2023+0.00%+0.00%+0.00%
2022+0.00%+0.00%+0.00%
2021+0.00%+0.00%+0.00%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 December 2025), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsFull history
Volatility (ann.)7.04%8.85%9.18%
Max drawdown-5.96%-15.74%-18.88%
Sharpe0.61-0.29-0.55
Sortino0.83-0.39-0.73
Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
5.52years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
0–1 years
0.56%
1–2 years
19.92%
2–3 years
15.05%
3–5 years
22.05%
5–7 years
12.45%
7–10 years
9.01%
10–15 years
2.42%
15–20 years
7.12%
20+ years
10.93%
Cash and derivatives
0.50%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
AA
99.50%
Cash and derivatives
0.50%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
295
300 total lines: 5 cash & derivatives
Top-10 weight
8.2%

Top 10 holdings

TREASURY NOTE · TNOTE
0.85%
TREASURY NOTE · TNOTE
0.84%
TREASURY NOTE · TNOTE
0.82%
TREASURY NOTE (OLD) · TNOTE
0.81%
TREASURY NOTE · TNOTE
0.81%
TREASURY NOTE · TNOTE
0.81%
TREASURY NOTE · TNOTE
0.81%
TREASURY NOTE · TNOTE
0.80%
TREASURY NOTE · TNOTE
0.80%
TREASURY NOTE · TNOTE
0.80%

Sectors

Treasury
99.8%
Cash and/or Derivatives
0.2%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.6%IranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 99.4%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States99.4%
Ireland0.6%
⬇ Download the full portfolio — Excel, 300 rows
Full portfolio declared by iShares, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
0.09 AUD
ex 19 Mar 2026 · paid 31 Mar 2026
Dividends, last 12 months
0.19 AUD
Dividend yield
3.96%
12-month sum over the NAV as of 7 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.19 AUD3.83 %
20250.20 AUD4.14 %
20240.19 AUD3.78 %

Dividend contribution to total return

-10%0%10%+0.59 %1 year+5.59 %2025−0.20 %2024
dividendsprice changeprice decline

Calendar per share (AUD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.09
20250.100.10
20240.090.10
20230.09

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.09 AUD19 Mar 202620 Mar 202631 Mar 2026
0.10 AUD11 Sept 202512 Sept 202524 Sept 2025
0.10 AUD13 Mar 202514 Mar 202526 Mar 2025
0.10 AUD12 Sept 202413 Sept 202425 Sept 2024
0.09 AUD14 Mar 202415 Mar 202427 Mar 2024
0.09 AUD14 Sept 202315 Sept 202327 Sept 2023
Per-share dividends as declared by the issuer, in AUD, since the first payment (14 Sept 2023). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE0001DYLX87 (share class Hedged). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
AUD Hedged (Dist) · this pageIE0001DYLX87GADUXDistributingAUD
USD (Dist)IE00BK95B138GOVTDistributingUSD
GBP Hedged (Dist)IE00BKTN1T54GOVPDistributingGBP
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Italian taxation

Effective rate on capital gains
12.92%
White-list share
96.86%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Stock exchange listings

ExchangeTicker
Issuer’s reference exchangeGADUX
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does iShares $ Treasury Bond UCITS ETF track?
The issuer iShares declares the benchmark: ICE U.S. Treasury Core Bond Index.
How much does GADUX cost?
The issuer-declared TER is 0.10% per year; the transaction costs estimated in the KID are 0.02%.
How is GADUX taxed in Italy?
On sale, the capital gain is taxed at an effective 12.92% rate (white-list share 96.86%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of GADUX?
The fund size declared by iShares is about 18 million euro.
When was GADUX launched?
The fund was launched on 23 February 2023: it has 3 years of history.
How does GADUX replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does GADUX pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
What was GADUX's worst fall?
Over the available history (since 2023), the maximum drawdown was -9.62%, reached in October 2023. Past performance is not indicative of future results.
How many securities does GADUX hold?
The declared portfolio holds 295 securities (plus 5 cash & derivative lines); the top 10 positions weigh 8.2%.
Transparency note
The data in this sheet is declared by iShares in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.