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Actively managed: it does not track an index — the declared benchmark is a yardstick for comparison
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Franklin Sustainable Euro Green Sovereign UCITS ETF (Acc)Index, costs, backtest, listings and taxation

ISIN: IE000P0R7WK6Ticker: GSOVIssuer: Franklin TempletonClass: (Acc)
Issuer-declared data
TER
0.18%
Transaction costs
0.04% (issuer estimate, from the KID)
Management
Active management
Replication
Active
Income policy
SFDR
Article 9 — declared sustainable investment objective what does it mean?
Fund assets
113.8 mln EUR
NAV
26.83 EUR (1 September 2026)
Domicile
Ireland
Inception date
31 October 2023
Data as declared by Franklin Templeton in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Franklin Sustainable Euro Green Sovereign UCITS ETF (Acc) is an actively managed ETF: it does not track an index — the declared index (Bloomberg Global Government EUR Green Bond Index) is a comparison yardstick only. The declared annual cost (TER) is 0.18%, plus 0.04% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 114 million euro, was launched on 31 October 2023 and is domiciled in Ireland.

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

Investment Objective To pursue a sustainable investment objective, by providing exposure primarily to the European sovereign green bond market, whilst maximising total returns.

Keep reading the KID section ▾

Investment PolicyThe Fund invests at least 90% of its Net Asset Value in sustainable investments. Such investments will primarily consist of bonds which have been issued by SSA (sovereigns, subsovereigns,supranationals and agencies) entities. The proceeds of such investments will typically contribute to an environmental objective of reducing and eliminating carbon emissions, by engaging in activities such as, but not limited to, generation or use of renewable energy, efficient use of energy, reduction of GHG emissions, carbon efficient modes of transportation. Under normal market conditions, the Fund invests a minimum of 75% of assets in green bonds (bonds whose proceeds finance environmental projects) denominated in, or hedged to, EUR. Such bonds can be of any duration and have both fixed or floating rates and can be issued by both governmental issuers (which include sub-sovereigns, supranationals and government agencies. To a lesser extent, the Fund may invest in other types of sustainable bonds, such as social bonds. Derivatives and techniques The Fund may use derivatives for hedging, efficient portfolio management and investment purposes. Strategy In a bottom-up process, the investment manager uses macroeconomic, interest rate and credit analysis to identify securities that appear to offer the best return for their risk level. Sustainable investing The Fund employs a proprietary ESG rating methodology with the aim of avoiding investment in issuers that are lagging in the transition to support a low-carbon economy. The ESG rating methodology is applied to at least 90% of the Sub-Fund's portfolio and is binding for the portfolio construction. SFDR category Article 9 (sustainable investment objective under EU regulations).

From the KID’s “Objectives” section · 2 September 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.18%: 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) · EUR · from Oct 2023 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+7.2%
Annualised
+2.5%
Volatility (ann.)
5.3%
Max drawdown
-5.56%
-3%+2%+6%+11%+16%Oct 2023Jul 2024Apr 2025Dec 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+7%Oct 2023Sept 2026
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%2023202420252026−5.56% · 14 Mar 2025
Max drawdown
-5.56%
peak → trough
Trough
14 Mar 2025
from the 02 Dec 2024 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
645 days
decline + recovery: peak to break-even · ≈ 1 year and 9 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
03 Dec 202414 Mar 2025-5.56%ongoing644
27 Dec 202325 Apr 2024-4.37%06 Sept 2024254
01 Oct 202407 Nov 2024-2.69%28 Nov 202458
11 Sept 202420 Sept 2024-1.12%01 Oct 202420
08 Nov 202313 Nov 2023-0.82%14 Nov 20236

Calendar-year returns

2023
8.8%
2024
0.7%
2025
-1.1%
2026
-1.1%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.61.4-2.20.21.00.6-1.7-0.4-0.5-1.1
2025-0.50.7-2.71.8-0.1-0.3-0.1-0.30.40.8-0.2-0.7-1.1
2024-1.0-1.31.5-2.0-0.20.52.50.41.1-1.42.8-1.90.7
20233.74.98.8
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.
Source: Franklin Templeton. 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

Last yearFull history
Volatility (ann.)3.54%5.19%
Max drawdown-3.26%-5.56%
Sharpe-0.95-0.12
Sortino-1.28-0.17
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, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
7.80years

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

Source: product page Franklin Templeton, data as of 2 September 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Portfolio holdings

Securities in portfolio
30
Top-10 weight
64.8%

Top 10 holdings

BUNDES 2.3% 15/02/33 · —
10.73%
NETHER 0.5% 15/01/40 · —
8.73%
SPAIN 1% 30/07/42 · —
8.34%
BUNDES 2.5% 15/02/35 · —
7.25%
AUSTRI 0% 24/09/26 · —
5.58%
CHILE 0.83% 02/07/31 · —
5.34%
POLAN 3.875% 07/07/37 · —
5.00%
BELGIU 1.25% 22/04/33 · —
4.74%
FRANCE 1.75% 25/06/39 · —
4.71%
IRELAN 1.35% 18/03/31 · —
4.42%

Sectors

Treasuries
70.4%
Agencies
10.2%
Governativo
1.0%
Local Authorities
0.3%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 13.9%AzerbaijanBurundiBelgium: 8.9%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChile: 5.4%ChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 23.4%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 9.3%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 10.6%GabonUnited Kingdom: 2.3%GeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenland: 2%GuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 4.4%IranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 9.7%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 5%Puerto RicoNorth KoreaPortugalParaguayQatarRomania: 2.5%RussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Germany23.4%
Austria13.9%
France10.6%
Netherlands9.7%
Spain9.3%
Belgium8.9%
Chile5.4%
⬇ Download the full portfolio — Excel, 30 rows
Full portfolio declared by Franklin Templeton, as of 26 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 →

Index tracked

Bloomberg Global Government EUR Green Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
15.29%
White-list share
79.37%
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:

IE000P0R7WK6
  • Directazero within the savings plan (buys)
  • Directazero on single buys from 1,000 €, agreement until 30 June 2027
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

ExchangeTickerTrading since
Borsa Italiana (ETFplus)GSOV16 Nov 2023
Börse DüsseldorfGSOV7 Feb 2024
Börse FrankfurtGSOV1 Nov 2023
Börse HamburgGSOV17 Nov 2023
Börse HannoverGSOV9 Dec 2024
Börse München / gettexGSOV1 Nov 2023
Börse StuttgartGSOV22 Aug 2024
Tradegate ExchangeGSOV30 Nov 2023
Xetra (Deutsche Börse)GSOV1 Nov 2023
+ 7 more trading venues (MTFs and professional platforms).
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 Franklin Sustainable Euro Green Sovereign UCITS ETF (Acc) track?
The issuer Franklin Templeton declares the benchmark: Bloomberg Global Government EUR Green Bond Index.
How much does GSOV cost?
The issuer-declared TER is 0.18% per year; the transaction costs estimated in the KID are 0.04%.
How is GSOV taxed in Italy?
On sale, the capital gain is taxed at an effective 15.29% rate (white-list share 79.37%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of GSOV?
The fund size declared by Franklin Templeton is about 114 million euro.
When was GSOV launched?
The fund was launched on 31 October 2023: it has 2 years of history.
Is GSOV actively or passively managed?
It is an ACTIVELY managed ETF: the manager picks the holdings, it does not replicate an index. The declared benchmark (Bloomberg Global Government EUR Green Bond Index) is a yardstick for comparison, not an index being tracked.
Does GSOV pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does GSOV trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (GSOV), Börse Düsseldorf (GSOV), Börse Frankfurt (GSOV), Börse Hamburg (GSOV), Börse Hannover (GSOV), Börse München / gettex (GSOV).
What was GSOV's worst fall?
Over the available history (since 2023), the maximum drawdown was -5.56%, reached in March 2025. Past performance is not indicative of future results.
How many securities does GSOV hold?
The declared portfolio holds 30 securities; the top 10 positions weigh 64.8%.
Transparency note
The data in this sheet is declared by Franklin Templeton 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.