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iShares MSCI World GBP Hedged UCITS ETF (Acc)Index, costs, backtest, listings and taxation

ISIN: IE00B42YS929Ticker: 2B73 (Xetra) · IGWD (London SE) · IGWD (Euronext AMS)Issuer: iSharesCurrency hedging: GBP-hedged share class
Issuer-declared data
TER
0.55%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Replication
Physical (optimised) (from the KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
556 mln EUR
NAV
134.9 GBP (31 August 2026)
Domicile
Ireland
Inception date
30 September 2010
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 MSCI World GBP Hedged UCITS ETF (Acc) tracks the issuer-declared index: MSCI World 100% GBP Hedged Index (Net). 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 0.55%, plus 0.01% in transaction costs estimated by the issuer in the KID. Income is accumulated and reinvested in the fund. The fund has assets of about 556 million euro, was launched on 30 September 2010 and is domiciled in Ireland.

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

The Fund 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 MSCI World 100% Hedged to GBP Index Net, the Fund’s benchmark index (Index). The Index provides a return on the MSCI World TR Index which measures the performance of large and mid capitalisation equity securities in developed countries worldwide. Market capitalisation is the share price of the company multiplied by the number of shares issued. The Index also uses one month foreign exchange (FX) forward contracts to hedge each non-Sterling currency in the Index back to Sterling in accordance with the MSCI Hedged Indices methodology. Hedging reduces the effect of fluctuations in the exchange rates between the currencies of the equity securities that make up the Index and Sterling, the base currency of the Fund. The Fund is passively managed and aims to invest in equity securities (e.g. shares) that, so far as possible and practicable, make up the MSCI World TR Index, as well as FX forward contracts that, so far as possible and practicable, track the hedging methodology of the Index. The Fund uses optimising techniques to achieve a similar return to its 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 accumulating shares (i.e. income will be included in their value). The Fund’s base currency is Sterling. 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 · 7 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.55%: above the median of equity ETFs we track (0.22%).
  • Average tracking difference over the last 3 years: -0.43% p.a., against a declared TER of 0.55%.
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 versionFactsheetPDF 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) · GBP · from Sept 2010 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+441.3%
Annualised
+11.2%
Volatility (ann.)
14.5%
Max drawdown
-35.43%
-11%+109%+228%+347%+467%Sept 2010Sept 2014Aug 2018Aug 2022Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+441%Sept 2010Sept 2026
Note — currency risk: the fund is denominated (or hedged) in GBP and the chart is in GBP. For a euro investor, returns also depend on the EUR/GBP 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%-10%-20%-30%-40%-50%201020132016201920222025−35.43% · 23 Mar 2020
Max drawdown
-35.43%
peak → trough
Trough
23 Mar 2020
from the 19 Feb 2020 peak
Recovery time
163 days
recovery only: trough to break-even · ≈ 5 months
Underwater
196 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 02 Sept 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202023 Mar 2020-35.43%02 Sept 2020196
04 Jan 202212 Oct 2022-23.33%27 Dec 2023722
18 Feb 201103 Oct 2011-19.86%14 Sept 2012574
21 May 201511 Feb 2016-17.93%07 Dec 2016566
21 Sept 201824 Dec 2018-17.51%29 Apr 2019220

Calendar-year returns

2016
8.1%
2017
17.3%
2018
-8.7%
2019
25.1%
2020
11.3%
2021
23.5%
2022
-17.4%
2023
22.0%
2024
21.0%
2025
18.8%
2026
12.7%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.71.0-5.78.64.8-0.10.22.4-0.312.7
20253.5-0.9-4.9-0.45.93.72.12.03.22.60.30.518.8
20241.84.63.4-3.24.12.31.21.81.5-0.94.9-1.921.0
20236.3-1.62.41.5-0.25.52.9-1.8-3.8-2.68.04.222.0
2022-5.0-2.63.1-7.2-0.2-8.07.9-3.6-8.76.95.5-5.2-17.4
2021-0.82.64.24.01.02.31.72.7-3.85.4-1.53.923.5
2020-0.3-8.4-13.210.34.82.33.16.1-3.0-3.111.73.411.3
20196.93.21.53.6-6.05.81.1-2.12.21.73.12.125.1
20183.5-3.7-2.41.91.20.23.11.20.6-7.01.0-8.0-8.7
20171.23.10.91.11.4-0.11.30.12.12.51.51.017.3
2016-5.7-1.65.20.81.8-1.54.10.40.1-0.72.52.78.1
2015-0.65.7-0.41.01.3-2.82.5-6.8-3.67.70.6-2.21.5
2014-3.34.20.20.72.31.3-0.82.6-1.01.13.0-0.89.7
20135.41.62.62.71.3-2.54.8-2.03.64.02.12.028.5
20124.24.61.7-1.6-7.04.31.31.92.1-0.51.51.814.8
20111.92.7-1.52.2-1.2-1.6-2.9-6.9-6.18.4-1.30.6-6.3
20102.7-0.35.68.1
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: 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 — fund vs index

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 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.43% /anno
Declared TER
0.55%
YearFundIndexDifference
2025+18.76%+19.15%-0.39%
2024+20.97%+21.43%-0.45%
2023+22.02%+22.46%-0.44%
2022-17.40%-17.13%-0.26%
2021+23.51%+23.92%-0.41%
2020+11.29%+11.67%-0.39%
2019+25.10%+25.47%-0.37%
2018-8.69%-8.40%-0.29%
2017+17.31%+17.65%-0.34%
2016+8.07%+8.24%-0.17%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)11.90%13.36%15.43%17.09%16.64%
Max drawdown-7.91%-19.77%-27.61%-42.25%-42.25%
Sharpe1.461.170.600.670.65
Sortino2.121.620.830.910.90
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.

Portfolio holdings

Securities in portfolio
1,253
1347 total lines: 94 cash & derivatives
Top-10 weight
26.5%

Top 10 holdings

NVIDIA · NVDA
5.50%
APPLE · AAPL
5.04%
MICROSOFT · MSFT
3.88%
AMAZON.COM INC · AMZN
2.72%
ALPHABET CLASS A · GOOGL
2.16%
BROADCOM INC · AVGO
1.81%
ALPHABET CLASS C · GOOG
1.70%
META PLATFORMS CLASS A · META
1.36%
MICRON TECHNOLOGY · MU
1.17%
TESLA INC · TSLA
1.14%

Sectors

Information Technology
29.8%
Financials
16.4%
Industrials
11.1%
Health Care
9.2%
Consumer Discretionary
8.7%
Communication
7.9%
Consumer Staples
4.9%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.6%Austria: 0.1%AzerbaijanBurundiBelgium: 0.3%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 3.4%Switzerland: 2.2%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 2.2%DjiboutiDenmark: 0.4%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1%EstoniaEthiopiaFinland: 0.3%FijiFalkland IslandsFrance: 2.4%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.5%IranIraqIcelandIsrael: 0.3%Italy: 0.8%JamaicaJordanJapan: 5.7%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.3%Norway: 0.2%NepalNew Zealand: 0.1%OmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 0.1%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.9%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 71.4%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States71.4%
Japan5.7%
United Kingdom4.1%
Canada3.4%
France2.4%
Germany2.2%
Switzerland2.2%
Download the full portfolio — Excel, 1,347 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 →

Index tracked

MSCI World 100% GBP Hedged Index (Net)
This fund belongs to the World and global equity family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.01%
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:

IE00B42YS9292B73
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
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
Börse Düsseldorf2B737 Sept 2017
Börse Hamburg2B7314 Dec 2017
Börse Hannover2B739 Dec 2024
Börse München / gettex2B739 Mar 2015
Tradegate Exchange2B7327 Nov 2024
+ 5 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 iShares MSCI World GBP Hedged UCITS ETF (Acc) track?
The issuer iShares declares the benchmark: MSCI World 100% GBP Hedged Index (Net).
How much does IGWD cost?
The issuer-declared TER is 0.55% per year; the transaction costs estimated in the KID are 0.01%.
How is IGWD taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.01%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of IGWD?
The fund size declared by iShares is about 556 million euro.
When was IGWD launched?
The fund was launched on 30 September 2010: it has 15 years of history.
How does IGWD replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (declared in the KID objectives).
Does IGWD pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does IGWD trade?
Per the official ESMA register it trades on 5 main exchanges, including Börse Düsseldorf (2B73), Börse Hamburg (2B73), Börse Hannover (2B73), Börse München / gettex (2B73), Tradegate Exchange (2B73).
What was IGWD's worst fall?
Over the available history (since 2010), the maximum drawdown was -35.43%, reached in March 2020. Past performance is not indicative of future results.
What is IGWD's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.43% per year versus its index (from issuer-declared series).
How many securities does IGWD hold?
The declared portfolio holds 1,253 securities (plus 94 cash & derivative lines); the top 10 positions weigh 26.5%.
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.