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iShares US Aggregate Bond UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B44CGS96Ticker: EUNX (Xetra) · IUAG (London SE) · IUAG (SIX)Issuer: iShares
Issuer-declared data
Declared index
Bloomberg U.S. Aggregate Bond Index
TER
0.25%
Transaction costs
0.01% (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
1 bn EUR
NAV
92.19 USD (1 September 2026)
Domicile
Ireland
Inception date
13 September 2011
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 US Aggregate Bond UCITS ETF tracks the issuer-declared index: Bloomberg U.S. Aggregate Bond Index. The declared annual cost (TER) is 0.25%, plus 0.01% 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 1 billion euro, was launched on 13 September 2011 and is domiciled in Ireland. In our registry it is the largest by assets among the 3 ETFs declaring the same index.

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 Funds’ investments, which reflects the return of the Bloomberg US Aggregate Bond Index, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in fixed income (FI) securities (such as bonds) that make up the Index and comply with its credit rating requirements. If the credit ratings of the FI securities are downgraded, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Index measures the performance of the US dollar-denominated taxable bond market. The FI securities may be issued by the US Treasury, government agencies and companies and may include asset-backed, commercial mortgage-backed and mortgage-backed securities (i.e. financial securities backed by cash flows from debt). The FI securities will be denominated in US Dollars, will pay income according to a fixed rate of interest and will, at the time of inclusion in the Index, be investment grade (i.e. meet a specified level of creditworthiness). Only bonds with a minimum remaining time to maturity of one year are considered for inclusion in the Index. The Fund uses optimising techniques to achieve a similar return to its Index. These may include the strategic selection of certain securities that make up the Index or other FI 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.

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 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 The Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares II 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 distributing shares (i.e. income will be paid on the shares semi-annually). Your shares will be denominated in US Dollar, the Fund's base currency. 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 0.25%: above the median of bond ETFs we track (0.15%).
  • Assets larger than 83% of bond ETFs we track.
  • Average tracking difference over the last 3 years: -0.16% p.a., against a declared TER of 0.25%.
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 Sept 2011 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+29.0%
Annualised
+1.7%
Volatility (ann.)
4.4%
Max drawdown
-18.82%
-4%+7%+17%+28%+38%Sept 2011May 2015Feb 2019Nov 2022Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+29%Sept 2011Aug 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.
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%-5%-10%-15%-20%201120142017202020232026−18.82% · 24 Oct 2022
Max drawdown
-18.82%
peak → trough
Trough
24 Oct 2022
from the 06 Aug 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,216 days
decline + recovery: peak to break-even · ≈ 6 years and 1 month · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
06 Aug 202024 Oct 2022-18.82%ongoing2,216
09 Mar 202019 Mar 2020-6.38%02 Jul 2020115
02 May 201305 Sept 2013-4.96%14 May 2014377
08 Jul 201616 Dec 2016-4.53%05 Sept 2017424
07 Sept 201717 May 2018-3.54%31 Jan 2019511

Calendar-year returns

2016
2.2%
2017
3.3%
2018
-0.3%
2019
8.4%
2020
7.2%
2021
-1.9%
2022
-13.2%
2023
5.5%
2024
1.0%
2025
7.1%
2026
-0.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.11.6-1.80.10.30.2-1.30.3-0.5
20250.52.20.00.4-0.71.5-0.31.21.10.60.6-0.17.1
2024-0.3-1.40.9-2.51.70.92.31.41.3-2.51.0-1.71.0
20233.2-2.62.60.6-1.1-0.4-0.1-0.6-2.5-1.64.53.85.5
2022-2.1-1.1-2.8-3.80.7-1.62.4-2.8-4.3-1.33.7-0.6-13.2
2021-0.7-1.4-1.20.70.30.71.1-0.2-0.9-0.10.3-0.3-1.9
20201.91.8-0.61.70.40.61.5-0.8-0.1-0.51.00.17.2
20191.0-0.11.90.01.81.20.22.6-0.60.3-0.1-0.18.4
2018-1.2-1.00.6-0.80.7-0.20.00.6-0.7-0.80.61.8-0.3
20170.10.7-0.10.70.8-0.10.40.9-0.50.0-0.10.43.3
20161.30.70.90.4-0.01.80.6-0.1-0.1-0.8-2.40.12.2
20152.1-0.90.5-0.4-0.3-1.10.7-0.20.70.0-0.3-0.30.3
20141.50.5-0.20.91.10.0-0.31.1-0.71.00.70.15.7
2013-0.70.50.01.0-1.8-1.60.2-0.50.90.8-0.4-0.6-2.3
20121.00.0-0.61.10.90.11.40.00.10.10.1-0.23.9
20110.3-0.21.21.4
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 — 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 1 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.16% /anno
Declared TER
0.25%
YearFundIndexDifference
2025+7.12%+7.30%-0.19%
2024+1.00%+1.25%-0.25%
2023+5.49%+5.53%-0.04%
2022-13.25%-13.01%-0.23%
2021-1.90%-1.54%-0.36%
2020+7.21%+7.51%-0.30%
2019+8.39%+8.72%-0.33%
2018-0.29%-0.48%+0.20%
2017+3.25%+3.55%-0.29%
2016+2.25%+2.65%-0.40%
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.)7.03%8.19%9.54%8.62%9.00%
Max drawdown-5.52%-12.78%-18.86%-24.23%-24.23%
Sharpe-0.65-0.62-0.55-0.30-0.00
Sortino-0.83-0.82-0.74-0.42-0.00
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
5.71years

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

Maturity breakdown (% of fund)
0–1 years
0.46%
1–2 years
12.56%
2–3 years
10.27%
3–5 years
19.44%
5–7 years
14.55%
7–10 years
23.81%
10–15 years
3.19%
15–20 years
5.14%
20+ years
9.80%
Cash and derivatives
0.77%

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
1.60%
AA
74.64%
A
11.68%
BBB
11.32%
BB
0.00%
B
0.00%
Not rated
0.00%
Cash and derivatives
0.77%

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
10,142
10146 total lines: 4 cash & derivatives
Top-10 weight
6.0%

Top 10 holdings

FNMA 30YR UMBS · FNMA4378
1.33%
FHLMC 30YR UMBS SUPER · FRSD8141
0.81%
FNMA 30YR UMBS · FNBU9929
0.76%
GNMA2 30YR 2021 PRODUCTION · G2MA7193
0.61%
GNMA2 30YR 2021 PRODUCTION · G2MA7648
0.45%
TREASURY NOTE · TNOTE
0.41%
TREASURY NOTE · TNOTE
0.40%
TREASURY NOTE · TNOTE
0.40%
TREASURY NOTE · TNOTE
0.39%
TREASURY NOTE · TNOTE
0.39%

Sectors

Treasury
48.3%
MBS Pass-Through
23.0%
Industrial
5.3%
Financial Institutions
4.4%
Supranational
1.1%
Sovereign
1.0%
Local Authority
0.5%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 0.1%AustriaAzerbaijanBurundiBelgium: 0.1%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 0.5%Switzerland: 0.1%Chile: 0.1%ChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 0.2%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.1%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 0.1%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 4.5%IranIraqIcelandIsrael: 0.1%ItalyJamaicaJordanJapan: 0.2%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 0.4%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanama: 0.1%Peru: 0.1%Philippines: 0.1%Papua New GuineaPoland: 0.1%Puerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguay: 0.1%United States of America: 76.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States76.2%
Ireland4.5%
Supranational1.1%
United Kingdom0.7%
Canada0.5%
Mexico0.4%
Japan0.2%
⬇ Download the full portfolio — Excel, 10,146 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
1.82 USD
ex 21 May 2026 · paid 29 May 2026
Dividends, last 12 months
3.63 USD
Dividend yield
3.93%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year3.63 USD3.79 %
20253.54 USD3.85 %
20243.33 USD3.53 %
20232.85 USD3.09 %
20221.96 USD1.81 %
20211.86 USD1.65 %

Dividend contribution to total return

-20%-10%0%10%+0.24 %1 year+7.01 %2025+0.97 %2024+5.35 %2023−13.21 %2022−1.92 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20261.82
20251.731.81
20241.621.71
20231.311.54
20220.911.05
20210.960.90
20201.291.01
20191.411.42
20181.171.31
20171.021.11
20160.920.85
20150.790.85
20140.670.83
20130.640.64
20120.910.83

Latest dividends

Per shareEx-dividend dateRecord datePayment
1.82 USD21 May 202622 May 202629 May 2026
1.81 USD13 Nov 202514 Nov 202526 Nov 2025
1.73 USD15 May 202516 May 202529 May 2025
1.71 USD14 Nov 202415 Nov 202427 Nov 2024
1.62 USD16 May 202417 May 202430 May 2024
1.54 USD16 Nov 202317 Nov 202329 Nov 2023
1.31 USD19 May 202322 May 202330 May 2023
1.05 USD17 Nov 202218 Nov 202230 Nov 2022
Per-share dividends as declared by the issuer, in USD, since the first payment (25 Apr 2012). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00B44CGS96. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
EUR Hedged (Dist)IE00093SKUY4CEBXDistributingEUR
USD (Dist) · this pageIE00B44CGS96SUAGDistributingUSD
GBP Hedged (Dist)IE00BDFGJ841IUGADistributingGBP
EUR Hedged (Acc)IE00BDFJYM28IUAEAccumulatingEUR
USD (Acc)IE00BYXYYM63IUAAAccumulatingUSD
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.

ETFs declaring the same index

FundTERIncomeFund size
SPDRnot on Borsa Italiana
0.17%Acc.150 mln EUR
SYBU · SPDRnot on Borsa Italiana
0.17%Dist.150 mln EUR
3 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
19.78%
White-list share
46.11%
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:

IE00B44CGS96EUNX(class: USD (Dist))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BYXYYM63IS03(class: USD (Acc))
  • BG Saxozero within the savings plan (buys)
  • 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 DüsseldorfEUNX8 Jun 2016
Börse FrankfurtEUNX8 Jun 2016
Börse HamburgEUNX8 Jun 2016
Börse HannoverEUNX14 Dec 2022
Börse München / gettexEUNX8 Jun 2016
Börse StuttgartEUNX8 Jun 2016
Tradegate ExchangeEUNX8 Jun 2016
Xetra (Deutsche Börse)EUNX8 Jun 2016
+ 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 US Aggregate Bond UCITS ETF track?
The issuer iShares declares the benchmark: Bloomberg U.S. Aggregate Bond Index.
How much does SUAG cost?
The issuer-declared TER is 0.25% per year; the transaction costs estimated in the KID are 0.01%.
How is SUAG taxed in Italy?
On sale, the capital gain is taxed at an effective 19.78% rate (white-list share 46.11%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of SUAG?
The fund size declared by iShares is about 1 billion euro.
When was SUAG launched?
The fund was launched on 13 September 2011: it has 14 years of history.
How does SUAG replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does SUAG pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does SUAG trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (EUNX), Börse Frankfurt (EUNX), Börse Hamburg (EUNX), Börse Hannover (EUNX), Börse München / gettex (EUNX), Börse Stuttgart (EUNX).
What was SUAG's worst fall?
Over the available history (since 2011), the maximum drawdown was -23.00%, reached in October 2023. Past performance is not indicative of future results.
What is SUAG's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.16% per year versus its index (from issuer-declared series).
How many securities does SUAG hold?
The declared portfolio holds 10,142 securities (plus 4 cash & derivative lines); the top 10 positions weigh 6%.
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.