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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
🇮🇹 Effective capital-gains rate: 24.89%details →

iShares € Flexible Income Bond Active UCITS ETF USD HedgedIndex, costs, backtest, listings and taxation

ISIN: IE00095FLAP4Ticker: IFUH (Euronext AMS)Issuer: iShares
Issuer-declared data
TER
0.42%
Transaction costs
0.29% (issuer estimate, from the KID)
Management
Active management
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
276,109 EUR
NAV
5.07 USD (31 August 2026)
Domicile
Ireland
Inception date
4 March 2026
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 € Flexible Income Bond Active UCITS ETF is an actively managed ETF: it does not track an index. Mind the share class: this is the version hedged to USD — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.42%, plus 0.29% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 0 million euro, was launched on 4 March 2026 and is domiciled in Ireland.

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

The Fund is actively managed and aims to maximise income by primarily investing in debt and income-producing securities while seeking to maintain long term capital growth. The Fund will invest in fixed income transferable securities, including fixed rate, floating rate, inflation-linked, investment grade, noninvestment grade and unrated securities, issued by governments, government agencies, companies and supranationals worldwide, including in emerging markets, and asset backed securities. The Fund may invest up to 60% of its assets in non-investment grade and unrated securities. The Fund will also invest in accordance with its ESG Policy as outlined in the Fund’s prospectus. The investment manager (IM) may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets), such as futures, options, forward contracts and options on such contracts, mortgage TBAs (to-be-announced securities) and swap contracts (including credit default swaps and total return swaps) and credit derivatives for direct investment purposes or for efficient portfolio management purposes. The Fund is actively managed and the IM has discretion to select the Fund’s investments without reference to a benchmark. Investors may use the Bloomberg Euro Aggregate Bond Index to compare the performance of the Fund against Euro-denominated bonds.

Keep reading the KID section ▾

The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield.

The return on your investment in the Fund is directly related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares III plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be accumulating shares (i.e. income will be included in their value). The Fund’s base currency is Euro. Shares for this Share Class are denominated in US 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 the denominated currency of the shares and the Fund’s underlying portfolio currencies or the Fund’s base currency. 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. Please see the prospectus for further details. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

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.

Quick reads

  • TER 0.42%: above the median of bond ETFs we track (0.15%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

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) · USD · from Mar 2026 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+1.1%
Annualised
+2.3%
Volatility (ann.)
3.0%
Max drawdown
-1.80%
-5%-2%0%+2%+5%Mar 2026Apr 2026Jun 2026Jul 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+1%Mar 2026Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%-1%-2%-3%-4%2026−1.80% · 27 Mar 2026
Max drawdown
-1.80%
peak → trough
Trough
27 Mar 2026
from the 04 Mar 2026 peak
Recovery time
21 days
recovery only: trough to break-even
Underwater
44 days
decline + recovery: peak to break-even · → recovered on 17 Apr 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
04 Mar 202627 Mar 2026-1.80%17 Apr 202644
06 Jul 202623 Jul 2026-0.98%13 Aug 202638
13 Aug 202602 Sept 2026-0.59%ongoing21
23 Apr 202629 Apr 2026-0.40%06 May 202613
14 May 202618 May 2026-0.40%22 May 20268
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.

Risk indicators· EUR

Full history
Volatility (ann.)4.98%
Max drawdown-3.26%
Sharpe0.14
Sortino0.20
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: 2.26%), 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
3.30years

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

Maturity breakdown (% of fund)
0–1 years
10.81%
1–2 years
9.14%
2–3 years
15.71%
3–5 years
39.85%
5–7 years
12.64%
7–10 years
11.67%
10–15 years
2.22%
15–20 years
0.51%
20+ years
0.89%
Cash and derivatives
-3.45%

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)
AAA
14.06%
AA
10.62%
A
11.82%
BBB
15.97%
BB
25.79%
B
21.86%
CCC
1.38%
D
0.10%
Not rated
1.85%
Cash and derivatives
-3.45%

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
1,083
1152 total lines: 69 cash & derivatives
Top-10 weight
9.4%

Top 10 holdings

UMBS 30YR TBA(REG A) · UM30
2.11%
SPAIN (KINGDOM OF) · SPGB
1.76%
UMBS 30YR TBA(REG A) · UM30
0.96%
SPAIN (KINGDOM OF) · SPGB
0.79%
JAPAN (GOVERNMENT OF) 5YR #181 · JGB
0.77%
TER FINANCE (JERSEY) LTD MTN RegS · TERFIN
0.66%
SPAIN (KINGDOM OF) · SPGB
0.61%
UMBS 30YR TBA(REG A) · UM30
0.59%
EDP ENERGIAS DE PORTUGAL SA NC5.5 RegS · EDPPL
0.57%
BP CAPITAL MARKETS PLC RegS · BPLN
0.53%

Sectors

Corporates
55.6%
Securitized
32.4%
Government Related
6.8%
Treasury
6.4%

Countries

AfghanistanAngola: 0.3%AlbaniaUnited Arab Emirates: 0.2%Argentina: 0.1%ArmeniaFrench Southern and Antarctic LandsAustralia: 2.8%Austria: 0.3%AzerbaijanBurundiBelgium: 0.2%Benin: 0.1%Burkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 0.5%BruneiBhutanBotswanaCentral African RepublicCanada: 0.7%Switzerland: 0.3%Chile: 0.5%China: 0.1%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombia: 0.5%Costa Rica: 0.1%CubaCyprusCzech Republic: 0.3%Germany: 6.2%DjiboutiDenmark: 0.7%Dominican Republic: 0.2%AlgeriaEcuador: 0.1%Egypt: 0.4%EritreaSpain: 8.2%EstoniaEthiopiaFinland: 0.4%FijiFalkland IslandsFrance: 5.9%Gabon: 0.1%United KingdomGeorgiaGhana: 0.1%GuineaGambiaGuinea BissauEquatorial GuineaGreece: 0.1%GreenlandGuatemala: 0.1%French GuianaGuyanaHondurasCroatiaHaitiHungary: 0.5%Indonesia: 0.2%India: 0.1%Ireland: 10.4%IranIraqIcelandIsrael: 0.2%Italy: 3.6%JamaicaJordan: 0.1%Japan: 2.5%Kazakhstan: 0.1%Kenya: 0.1%Kyrgyzstan: 0.1%CambodiaSouth Korea: 0.1%KosovoKuwaitLaosLebanon: 0.1%LiberiaLibyaSri Lanka: 0.1%LesothoLithuaniaLuxembourg: 2.7%Latvia: 0.1%Morocco: 0.1%MoldovaMadagascarMexico: 0.7%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeria: 0.1%NicaraguaNetherlands: 2.2%Norway: 0.3%NepalNew ZealandOmanPakistanPanama: 0.1%Peru: 0.3%Philippines: 0.1%Papua New GuineaPoland: 0.2%Puerto RicoNorth KoreaPortugal: 1.2%Paraguay: 0.1%QatarRomania: 0.5%RussiaRwandaWestern SaharaSaudi Arabia: 0.4%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSuriname: 0.1%SlovakiaSlovenia: 0.2%Sweden: 0.6%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraine: 0.2%UruguayUnited States of America: 15.5%Uzbekistan: 0.2%VenezuelaVietnamVanuatuWest BankYemenSouth Africa: 0.7%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United Kingdom16.7%
United States15.5%
Ireland10.4%
Spain8.2%
European Union7.6%
Germany6.2%
France5.9%
⬇ Download the full portfolio — Excel, 1,152 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 →

Share classes of the same fund

This page covers ISIN IE00095FLAP4 (share class Hedged). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
USD Hedged (Acc) · this pageIE00095FLAP4IFUHAccumulatingUSD
Class EUR (Distributing)IE000NHAIBN0IFLXDistributingEUR
GBP Hedged (Acc)IE000R1X43G7IFGHAccumulatingGBP
EUR (Acc)IE000R7KKFN3ISFXAccumulatingEUR
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
24.89%
White-list share
8.24%
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 →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE000NHAIBN0IFLX(class: Class EUR (Distributing))
  • BG Saxozero within the savings plan (buys)
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTicker
Euronext AmsterdamIFUH
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

How much does IFUH cost?
The issuer-declared TER is 0.42% per year; the transaction costs estimated in the KID are 0.29%.
How is IFUH taxed in Italy?
On sale, the capital gain is taxed at an effective 24.89% rate (white-list share 8.24%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of IFUH?
The fund size declared by iShares is about 276,109 €.
When was IFUH launched?
The fund was launched on 4 March 2026: it has been trading for 184 days: the page fills up as the issuer publishes data.
Is IFUH actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index.
Does IFUH pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
What was IFUH's worst fall?
Over the available history (since 2026), the maximum drawdown was -1.80%, reached in March 2026. Past performance is not indicative of future results.
How many securities does IFUH hold?
The declared portfolio holds 1,083 securities (plus 69 cash & derivative lines); the top 10 positions weigh 9.4%.
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.