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iShares Physical Gold GBP Hedged ETC tracks the issuer-declared underlying: ICE LBMA Gold GBP Hedged Index (GBP). Mind the share class: this is the version hedged to GBP — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.25%, plus 0.07% in transaction costs estimated by the issuer in the KID. Income is distributed to investors. The fund has assets of about 1.2 billion euro, was launched on 5 July 2022 and is domiciled in Ireland.
The ETC securities aim to provide investment exposure to physical gold and are valued based on the London Bullion Market Association (LBMA) gold price. The Company holds physical gold. Each ETC security has a metal entitlement (“Metal Entitlement”, which is the amount of physical gold backing the ETC security) and its daily value is calculated based on its daily Metal Entitlement. The daily Metal Entitlement can be found on www.ishares.com. The Series also aims to reduce the impact of exchange rate fluctuations between the Series currency GBP and USD which is the currency in which the underlying metal of gold is typically quoted. The Series will be hedged with the aim of reducing the effect of exchange rate fluctuations between its denominated currency and the underlying Metal Currency. The ETC securities are listed and traded on the London Stock Exchange. In normal circumstances, only authorised participants may buy and sell the ETC securities directly with the Company. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the ETC securities on the secondary market (e.g. via a broker on the London Stock Exchange) at the then prevailing market price. The prevailing market price at which the ETC securities trade on the secondary market may deviate from the daily value of the ETC securities and may not accurately reflect the price of the precious metal underlying the ETC securities. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below under “How long should I hold it and can I take money out early?” The gold price fluctuates daily and the value of gold is driven by various factors including its rarity, use in industrial processes and its use as an investment commodity. Pricing of precious metals can be impacted by fundamental issues of supply and demand, political and economic situations (especially in precious metal producing countries) and natural disasters. These factors may all affect the value of your investment. Your ETC securities are denominated in Sterling, the ETC’s base currency (the “ETC Currency”).
Keep reading the KID section ▾
Intended retail investor:The ETC is intended for retail investors with the ability to bear losses up to the amount invested in the ETC. The ETC securities are appropriate for medium to long term investment, though the ETC securities may also be suitable for shorter term exposure (see further below “How long should I hold it and can I take money out early?”).
Insurance benefits:The ETC does not offer any insurance benefits.
| From the peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 29 Jan 2026 | 16 Jul 2026 | -26.53% | ongoing | 216 |
| 13 Apr 2023 | 04 Oct 2023 | -11.61% | 27 Dec 2023 | 258 |
| 11 Aug 2022 | 03 Nov 2022 | -9.94% | 13 Dec 2022 | 124 |
| 20 Oct 2025 | 28 Oct 2025 | -8.08% | 12 Dec 2025 | 53 |
| 30 Oct 2024 | 14 Nov 2024 | -7.65% | 30 Jan 2025 | 92 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 13.9 | 4.7 | -11.8 | -0.0 | -1.5 | -11.5 | -0.0 | 13.3 | -4.0 | -0.5 | |||
| 2025 | 7.7 | 0.8 | 9.8 | 5.8 | -0.9 | 0.3 | 0.3 | 3.9 | 11.4 | 4.8 | 4.4 | 4.2 | 65.9 |
| 2024 | -0.5 | -0.3 | 8.1 | 4.2 | 1.7 | -0.8 | 4.0 | 3.5 | 4.6 | 3.9 | -3.1 | -1.5 | 25.8 |
| 2023 | 6.0 | -5.3 | 8.3 | 0.0 | -1.0 | -2.8 | 3.0 | -1.5 | -3.7 | 6.7 | 1.8 | 1.2 | 12.3 |
| 2022 | -2.3 | -2.9 | -2.2 | 6.7 | 3.1 | 0.9 |
| Year | Fund | Underlying | Difference |
|---|---|---|---|
| 2025 | +65.88% | +66.43% | -0.56% |
| 2024 | +25.78% | +25.08% | +0.71% |
| 2023 | +12.30% | +11.92% | +0.38% |
| Last year | Last 3 years | Full history | |
|---|---|---|---|
| Volatility (ann.) | 27.94% | 20.78% | 19.55% |
| Max drawdown | -25.97% | -25.97% | -25.97% |
| Sharpe | 0.88 | 1.21 | 0.99 |
| Sortino | 1.21 | 1.72 | 1.42 |
| Exchange | Ticker |
|---|---|
| Issuer’s reference exchange | IGLG |