← Search another ETF
⇄ Compare⎙ Printable sheet (PDF)
ETF sheet · Issuer-declared data
🇮🇹 Effective capital-gains rate: 13.57%details →

iShares J.P. Morgan EM Local Govt Bond UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B5M4WH52Ticker: SEML (Borsa Italiana) · IUSP (Xetra) · SEML (London SE) · IEML (SIX)Issuer: iShares

Emerging markets Bonds tracking the J.P. Morgan GBI-EM Global Diversified Capped Net Index, physical, optimised replication, distributing. Share class in US dollars (USD).

5.18 years
effective duration, as declared by iShares · maturities ↓ ✓ declared by the issuer
BBB 43.9%
largest rating bucket, then A 29.4% · full breakdown ↓ ✓ declared by the issuer
0.50% + 0.04%
TER + KID transaction costs ✓ declared by the issuer
390
rows published by the issuer · holdings ↓ ✓ declared by the issuer
4.5 bn €
share-class assets ✓ declared by the issuer
−0.42 pt /year
average tracking difference 2023–2025 · year by year ↓ ≈ computed by Rebalix
Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name
iShares J.P. Morgan EM Local Govt Bond UCITS ETF
Management
Passive (index-tracking)
Domicile
Ireland
Share classes of this fund
2, this one is USD (Dist) · compare them in the table →

Share class · this page

ISIN
IE00B5M4WH52
Ticker
SEML (Borsa Italiana) · IUSP (Xetra) · SEML (London SE) · IEML (SIX)
Share-class currency
US dollars (USD)
TER
0.50%
Transaction costs
0.04% (issuer estimate, from the KID)
Management fees and other administrative or operating costs — PRIIPs KID
0.52% (previous period or estimate; not the TER)
Income policy
Share-class assets
4.5 bn EUR
NAV
44.8 USD (16 October 2026)
Share-class launch
20 June 2011
Data as declared by iShares in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.
📬 Follow the engine as we build it

One email when new issuers, new metrics and new articles land. Double opt-in, zero spam, one-click unsubscribe.

Quick reads

  • TER 0.50%above the median of bond ETFs we track (0.15%).≈ computed by Rebalix
  • Assetslarger than 98% of bond ETFs we track.≈ computed by Rebalix
  • Average tracking difference over the last 3 years-0.42% p.a., against a declared TER of 0.50%.≈ computed by Rebalix
  • Duration 5.18 yearseffective, as declared by iShares✓ declared by the issuer
  • Declared ratingBBB 43.9% · A 29.4% · BB 17.3% · AA 4.3%✓ declared by the issuer
  • Maturity 3–5 years 20.4%the heaviest bucket of the declared breakdown✓ declared by the issuer
  • Treasury 94.9%first sector from the declared portfolio✓ declared by the issuer
  • 390 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
  • Top 10 = 13.1%of the fund✓ declared by the issuer
  • Effective rate 13.57%on capital gains for Italian tax residents: from the declared white-list share≈ computed by Rebalix
✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

iShares J.P. Morgan EM Local Govt Bond UCITS ETF tracks the issuer-declared index: J.P. Morgan GBI-EM Global Diversified Capped Net Index. The declared annual cost (TER) is 0.50%, plus 0.04% 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 4.5 billion euro, was launched on 20 June 2011 and is domiciled in Ireland.

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 Fund’s assets, which reflects the return of the J.P. Morgan GBI-EM Global Diversified Capped Net Index, the Fund’s benchmark index (Index).

Keep reading the KID section ▾

The Share Class, via the Fund is passively managed, and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index. These may include securities with a relatively low credit rating or which are unrated. The Index measures the performance of local currency denominated FI securities, selected to provide a broad representation of the local currency emerging markets government debt market. Exposure to bonds issued by a single country is limited in accordance with the index methodology. The Index does not apply a minimum credit rating requirement to its constituents. To be included in the Index, each bond must (i) have a minimum amount outstanding of either $1 billion (for local issues) or $500 million (for global issues), and (ii) have a remaining term to maturity (i.e. the time until they become due for repayment) of greater than 2.5 years in accordance with the index criteria for each eligible country. 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. 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.

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 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 distributing shares (i.e. income will be paid on the shares quarterly). 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 · KID acquired on 2 October 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

  1. Share-class launch
    20 June 2011
    declared by the issuer
  2. Basket snapshots
    3 monthly
    since August 2026
  3. Dated events
    1
    latest: tax event, 1 July 2026
Open the history →

Italian taxation

Effective rate on capital gains
13.57%
White-list share
92.05%
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 →
PerformanceIn this sectionChartBacktestTracking difference

Fund performance

issuer-declared net asset value (NAV) · USD (loading exchange rates) · from Jun 2011 to Oct 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+2.2%
Annualised
+0.1%
Volatility (ann.)
9.2%
Max drawdown
-35.53%
-30%-19%-8%+3%+14%Jun 2011Mar 2015Jan 2019Nov 2022Oct 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+2.2%
20 Jun 2011 → 16 Oct 202615 years and 4 months · +2.2%
20 Jun 201116 Oct 2026Jun 2011Oct 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%-10%-20%-30%-40%-50%201120142017202020232026−35.53% · 24 Oct 2022
Max drawdown
-35.53%
peak → trough
Trough
24 Oct 2022
from the 09 May 2013 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
4,908 days
decline + recovery: peak to break-even · ≈ 13 years and 5 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
09 May 201324 Oct 2022-35.53%ongoing4,908
26 Jul 201125 Nov 2011-13.50%17 Oct 2012449
07 Jul 201118 Jul 2011-2.51%26 Jul 201119
01 Feb 201327 Mar 2013-1.93%05 Apr 201363
18 Oct 201214 Nov 2012-1.59%29 Nov 201242

Calendar-year returns

2016
8.7%
2017
14.1%
2018
-7.2%
2019
11.6%
2020
1.7%
2021
-10.4%
2022
-11.2%
2023
12.1%
2024
-3.1%
2025
18.4%
2026
0.7%
2011: the share class was launched on 20 June 2011; the return runs from launch to 30 December 2011 and is not a full year.

Month-by-month returns

2026Year 0.7%
Jan
2.1
Feb
1.2
Mar
-5.7
Apr
2.8
May
0.8
Jun
0.2
Jul
0.2
Aug
0.8
Sept
-2.2
Oct
0.7
Nov
·
Dec
·
2025Year 18.4%
Jan
1.9
Feb
0.7
Mar
1.5
Apr
3.1
May
1.4
Jun
2.7
Jul
-0.8
Aug
2.1
Sept
1.4
Oct
0.4
Nov
1.3
Dec
1.4
2024Year -3.1%
Jan
-1.7
Feb
-0.5
Mar
-0.1
Apr
-2.3
May
1.6
Jun
-1.1
Jul
2.2
Aug
3.1
Sept
3.3
Oct
-4.7
Nov
-0.6
Dec
-2.0
2023Year 12.1%
Jan
4.2
Feb
-3.2
Mar
4.1
Apr
0.8
May
-1.7
Jun
3.2
Jul
2.7
Aug
-2.8
Sept
-3.5
Oct
-0.6
Nov
5.1
Dec
3.6
2022Year -11.2%
Jan
0.2
Feb
-4.6
Mar
-1.3
Apr
-5.9
May
1.6
Jun
-4.5
Jul
-0.1
Aug
0.3
Sept
-4.8
Oct
-1.0
Nov
7.1
Dec
2.1
JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.11.2-5.72.80.80.20.20.8-2.20.70.7
20251.90.71.53.11.42.7-0.82.11.40.41.31.418.4
2024-1.7-0.5-0.1-2.31.6-1.12.23.13.3-4.7-0.6-2.0-3.1
20234.2-3.24.10.8-1.73.22.7-2.8-3.5-0.65.13.612.1
20220.2-4.6-1.3-5.91.6-4.5-0.10.3-4.8-1.07.12.1-11.2
2021-1.2-2.6-3.32.22.4-1.3-0.60.7-3.7-1.4-3.21.3-10.4
2020-1.4-3.5-11.23.85.10.33.0-0.6-2.10.45.53.51.7
20195.5-1.3-1.4-0.30.15.60.7-3.10.82.8-2.04.011.6
20184.4-1.11.0-3.1-5.1-3.12.0-6.32.5-1.92.91.1-7.2
20172.11.92.21.01.90.42.11.6-0.5-2.91.62.014.1
20160.11.39.22.7-5.65.90.50.01.9-0.9-7.21.68.7
20150.1-0.9-2.62.7-2.5-1.2-2.9-5.5-3.34.5-2.0-2.1-15.0
2014-4.54.22.60.92.00.9-1.00.4-5.01.6-0.8-5.9-5.0
20130.2-0.3-0.34.5-7.4-4.3-0.8-4.44.03.1-4.3-0.6-10.9
20127.83.0-2.10.5-7.66.22.3-0.32.8-0.21.22.416.1
20111.10.1-11.46.0-4.0-1.6-9.1(since launch)
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.

Method and sources

Switch on: issuer-declared series with distributions reinvested — the total return, comparable with accumulating classes. Switch off: NAV without reinvestment, which drops at every distribution.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 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 annual TD, 2023–2025
-0.42 pt /year
Declared TER
0.50%
YearFundIndexDifference (pt)
2025+18.41%+18.81%-0.39 pt
2024-3.11%-2.76%-0.34 pt
2023+12.08%+12.60%-0.52 pt
2022-11.15%-10.57%-0.58 pt
2021-10.36%-9.74%-0.62 pt
2020+1.70%+2.67%-0.96 pt
2019+11.56%+12.56%-1.00 pt
2018-7.15%-6.24%-0.91 pt
2017+14.07%+15.17%-1.10 pt
2016+8.72%+9.64%-0.92 pt
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? →
RiskIn this sectionRisk

Risk indicators· EUR

Last year
Volatility (ann.)6.26%
Max drawdown-5.28%
Sharpe-0.36
Sortino-0.45
Last 3 years
Volatility (ann.)7.05%
Max drawdown-9.62%
Sharpe-0.46
Sortino-0.57
Last 5 years
Volatility (ann.)8.22%
Max drawdown-17.97%
Sharpe-0.62
Sortino-0.77
Last 10 years
Volatility (ann.)8.85%
Max drawdown-37.42%
Sharpe-0.55
Sortino-0.69
Full history
Volatility (ann.)9.61%
Max drawdown-50.51%
Sharpe-0.43
Sortino-0.55
Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)6.26%7.05%8.22%8.85%9.61%
Max drawdown-5.28%-9.62%-17.97%-37.42%-50.51%
Sharpe-0.36-0.46-0.62-0.55-0.43
Sortino-0.45-0.57-0.77-0.69-0.55
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: 2.25%), 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.
PortfolioIn this sectionDurationRatingHoldingsDividends

Duration and maturities

Duration · effective duration
5.18years

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

Maturity breakdown (% of fund)
0–1 years
2.92%
1–2 years
7.51%
2–3 years
14.49%
3–5 years
20.41%
5–7 years
13.77%
7–10 years
17.80%
10–15 years
10.18%
15–20 years
6.12%
20+ years
6.53%
Cash and derivatives
0.26%

Source: product page iShares, data as of 15 October 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)
AA
4.25%
A
29.42%
BBB
43.92%
BB
17.32%
Not rated
4.83%
Cash and derivatives
0.26%

Source: product page iShares, data as of 15 October 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· structure first, single issues after

Rows in the published list
390
Top-10 weight
13.1%

Main issuers

Data declared by the issuer · 1 October 2026
INDIA (REPUBLIC OF)
10.02%
CHINA PEOPLES REPUBLIC OF (GOVERNMENT)
10.02%
MEXICO (UNITED MEXICAN STATES) (GOVERNMENT)
9.78%
MALAYSIA (GOVERNMENT)
9.48%
INDONESIA (REPUBLIC OF)
8.93%
POLAND (REPUBLIC OF)
8.58%
THAILAND KINGDOM OF (GOVERNMENT)
7.63%
SOUTH AFRICA (REPUBLIC OF)
7.08%
COLOMBIA (REPUBLIC OF)
4.91%
ISHARES BRAZIL LTN $ GOVT BO USDHA
4.32%

Top 10 holdings

The largest single issues held by the fund.
ISHARES BRAZIL LTN $ GOVT BO USDHA · BLTNCoupon 0.00%
4.33%
BRAZIL FEDERATIVE REPUBLIC OF (GOV · BNTNFCoupon 10.00% · Maturity 2031
1.38%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGBCoupon 1.43% · Maturity 2030
1.08%
INDIA (REPUBLIC OF) · IGBCoupon 7.10% · Maturity 2034
1.04%
SOUTH AFRICA (REPUBLIC OF) · SAGBCoupon 8.75% · Maturity 2048
0.98%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGBCoupon 1.45% · Maturity 2030
0.89%
INDIA (REPUBLIC OF) · IGBCoupon 5.77% · Maturity 2030
0.87%
MEXICO (UNITED MEXICAN STATES) (GO · MBONOCoupon 7.75% · Maturity 2031
0.86%
INDIA (REPUBLIC OF) · IGBCoupon 7.26% · Maturity 2029
0.86%
MEXICO (UNITED MEXICAN STATES) (GO · MBONOCoupon 8.50% · Maturity 2029
0.85%

Sectors

Treasury
94.9%
ETFs
4.4%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 3.3%BruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChile: 1.5%China: 10%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombia: 4.9%Costa RicaCubaCyprusCzech Republic: 4.3%Germany: 4.4%DjiboutiDenmarkDominican Republic: 0.1%AlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 2.6%Indonesia: 9%India: 9.9%IrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 9.7%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 9.4%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeru: 1.9%PhilippinesPapua New GuineaPoland: 8.6%Puerto RicoNorth KoreaPortugalParaguayQatarRomania: 3.1%RussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailand: 7.6%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkey: 1.4%TaiwanUnited Republic of TanzaniaUgandaUkraineUruguay: 0.1%United States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 7.2%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
China10%
India9.9%
Mexico9.7%
Malaysia9.4%
Indonesia9%
Poland8.6%
Thailand7.6%
Breakdown computed by Rebalix by aggregating the full-precision per-position weights declared by the issuer. Cash and derivatives are not artificially attributed to a country. Values are not rescaled.
⬇ Download the published holdings — Excel, 390 rows
Holdings as published by iShares, holdings as at 30 September 2026: 390 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. How Rebalix verifies portfolio holdings →

Dividends

Latest dividend
0.6082 USD
ex 16 Jul 2026 · paid 29 Jul 2026
Dividends, last 12 months
2.57 USD
Dividend yield
5.74%
12-month sum over the NAV as of 16 Oct 2026

Yield by year

PeriodDividendsDividend yield
1 year2.57 USD5.53 %
20252.46 USD5.78 %
20242.43 USD5.23 %
20232.32 USD5.33 %
20222.43 USD4.69 %
20212.42 USD4.01 %

Dividend contribution to total return

-20%-10%0%10%20%+1.95 %1 year+17.68 %2025−3.00 %2024+11.75 %2023−11.00 %2022−10.05 %2021
dividendsprice changeprice decline

Calendar per share (USD)

2026Year 2.57 USD
Jan
1.36
Feb
·
Mar
·
Apr
0.60
May
·
Jun
·
Jul
0.61
Aug
·
Sep
·
Oct
·
Nov
·
Dec
·
2025Year 2.46 USD
Jan
1.27
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
1.19
Aug
·
Sep
·
Oct
·
Nov
·
Dec
·
2024Year 2.43 USD
Jan
1.22
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
1.21
Aug
·
Sep
·
Oct
·
Nov
·
Dec
·
2023Year 2.32 USD
Jan
1.13
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
1.19
Aug
·
Sep
·
Oct
·
Nov
·
Dec
·
2022Year 2.43 USD
Jan
1.28
Feb
·
Mar
·
Apr
·
May
·
Jun
·
Jul
1.15
Aug
·
Sep
·
Oct
·
Nov
·
Dec
·
YearJanFebMarAprMayJunJulAugSepOctNovDec
20261.360.600.61
20251.271.19
20241.221.21
20231.131.19
20221.281.15
20211.191.23
20201.581.33
20191.661.60
20181.631.73
20171.791.54
20161.781.63
20152.10
20142.422.06
20131.922.24
20122.412.73
20112.87

Latest dividends

0.6082 USD per share
Ex-dividend date16 Jul 2026
Record date17 Jul 2026
Payment29 Jul 2026
0.5988 USD per share
Ex-dividend date16 Apr 2026
Record date17 Apr 2026
Payment29 Apr 2026
1.3632 USD per share
Ex-dividend date15 Jan 2026
Record date16 Jan 2026
Payment28 Jan 2026
1.1945 USD per share
Ex-dividend date17 Jul 2025
Record date18 Jul 2025
Payment30 Jul 2025
1.2692 USD per share
Ex-dividend date16 Jan 2025
Record date17 Jan 2025
Payment29 Jan 2025
1.2122 USD per share
Ex-dividend date18 Jul 2024
Record date19 Jul 2024
Payment31 Jul 2024
1.2172 USD per share
Ex-dividend date11 Jan 2024
Record date12 Jan 2024
Payment24 Jan 2024
1.1939 USD per share
Ex-dividend date13 Jul 2023
Record date14 Jul 2023
Payment26 Jul 2023
Per shareEx-dividend dateRecord datePayment
0.6082 USD16 Jul 202617 Jul 202629 Jul 2026
0.5988 USD16 Apr 202617 Apr 202629 Apr 2026
1.3632 USD15 Jan 202616 Jan 202628 Jan 2026
1.1945 USD17 Jul 202518 Jul 202530 Jul 2025
1.2692 USD16 Jan 202517 Jan 202529 Jan 2025
1.2122 USD18 Jul 202419 Jul 202431 Jul 2024
1.2172 USD11 Jan 202412 Jan 202424 Jan 2024
1.1939 USD13 Jul 202314 Jul 202326 Jul 2023
Per-share dividends as declared by the issuer, in USD, since the first payment (28 Dec 2011). Past dividends are not indicative of future ones.
StructureIn this sectionShare classesIndexExchanges

Share classes of the same fund

This page covers ISIN IE00B5M4WH52. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
USD (Dist) · this pageIE00B5M4WH52SEMLDistributingUSD
USD (Acc)IE00BFZPF546EMGAAccumulatingUSD
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.

Index tracked

J.P. Morgan GBI-EM Global Diversified Capped Net Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

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:

IE00B5M4WH52SEML(class: USD (Dist))
  • Directazero within the savings plan (buys)
  • Moneyfarmzero within the savings plan (buys), agreement until 31 March 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 March 2027
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BFZPF546QDV7(class: USD (Acc))
  • 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 15 October 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

Exchanges with a ticker available· in alphabetical order
ExchangeTickerExchange sourceRegistered since
Borsa Italiana (ETFplus)SEMLfrom tax documentESMA register (FIRDS)17 Oct 2011
Börse DüsseldorfIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
Börse FrankfurtIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
Börse HamburgIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
Börse HannoverIUSPfrom mappingESMA register (FIRDS)21 Dec 2022
Börse München / gettexIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
Börse StuttgartIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
London Stock ExchangeSEMLfrom tax documentissuer’s tax document (exchange outside the FIRDS perimeter)—
SIX Swiss ExchangeIEMLfrom tax documentissuer’s tax document (exchange outside the FIRDS perimeter)—
Tradegate ExchangeIUSPfrom mappingESMA register (FIRDS)20 Jun 2016
Xetra (Deutsche Börse)IUSPfrom tax documentESMA register (FIRDS)20 Jun 2016
from tax document — ticker from the half-yearly document the issuer publishes for the Italian tax authority, one ticker per exchange: where the exchange trades several lines (different currencies) the others do not appear.
from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.
Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.
+ 7 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.
Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.
DocumentsIn this sectionDocumentsFAQ

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.

Frequently asked questions

Which index does iShares J.P. Morgan EM Local Govt Bond UCITS ETF track?
The issuer iShares declares the benchmark: J.P. Morgan GBI-EM Global Diversified Capped Net Index.
How much does SEML cost?
The issuer-declared TER is 0.50% per year; the transaction costs estimated in the KID are 0.04%.
How is SEML taxed in Italy?
On sale, the capital gain is taxed at an effective 13.57% rate (white-list share 92.05%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of SEML?
The fund size declared by iShares is about 4.5 billion euro.
When was SEML launched?
The fund was launched on 20 June 2011: it has 15 years of history.
How does SEML replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does SEML pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does SEML trade?
Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 11 exchanges with a ticker available, including Borsa Italiana (ETFplus) (SEML), Börse Düsseldorf (IUSP), Börse Frankfurt (IUSP), Börse Hamburg (IUSP), Börse Hannover (IUSP), Börse München / gettex (IUSP).
What was SEML's worst fall?
Over the available history (since 2011), the maximum drawdown was -61.04%, reached in October 2022. Past performance is not indicative of future results.
What is SEML's tracking difference?
Over the three most recent complete calendar years (2023–2025) the fund returned on average -0.42 percentage points per year versus its index: the annual mean of the differences, from issuer-declared series.
How many positions does SEML publish?
The list published by the issuer and archived by Rebalix has 390 rows; the top 10 weigh 13.1%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.
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.
Do you represent the issuer? Report a correction or an update