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iShares $ Floating Rate Bond UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00BDFGJ627Ticker: QDV4 (Xetra) · FLOA (London SE) · FLOA (Euronext AMS) · FLOA (SIX)Issuer: iShares
Issuer-declared data
Declared index
Bloomberg US Floating Rate Note<5 Years Index
TER
0.10%
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
3.4 bn EUR
NAV
6.62 USD (1 September 2026)
Domicile
Ireland
Inception date
20 March 2018
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 $ Floating Rate Bond UCITS ETF tracks the issuer-declared index: Bloomberg US Floating Rate Note<5 Years Index. The declared annual cost (TER) is 0.10%, 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 accumulated and reinvested in the fund. The fund has assets of about 3.4 billion euro, was launched on 20 March 2018 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 Bloomberg Barclays US Floating Rate Note < 5 Years 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 the equity securities (e.g. shares) that make up the Index. The Index measures the performance of US Dollar-denominated FI securities issued globally by corporate and government-related issuers that pay income according to a floating rate of interest. The Index includes only FI securities that: (i) are SEC-registered securities, bonds exempt from registration at time of issuance, or SEC Rule 144A securities with or without registration rights; (ii) are rated investment grade, taking the middle rating given by Fitch, Moody’s and Standard & Poor’s Ratings Services (or, in the absence of such explicit bond ratings, using other sources, such as the index provider’s internal ratings); (iii) have at least US$300 million outstanding per individual bond; and (iv) have a remaining maturity (i.e. the time from issue until they become due for repayment) of greater than or equal to one month, but less than five years. 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. 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). Your shares will be denominated in US Dollar, the Fund's base currency. 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 · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.10%: below the median of bond ETFs we track (0.15%).
  • Assets larger than 96% of bond ETFs we track.
  • Average tracking difference over the last 3 years: -0.02% p.a., against a declared TER of 0.10%.
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 Dec 2021 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+24.4%
Annualised
+4.7%
Volatility (ann.)
0.9%
Max drawdown
-0.75%
-4%+4%+12%+20%+28%Dec 2021Feb 2023Apr 2024Jun 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%)+24%Dec 2021Sept 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%-1%-2%-3%-4%20222023202420252026−0.75% · 30 Jun 2022
Max drawdown
-0.75%
peak → trough
Trough
30 Jun 2022
from the 04 Jan 2022 peak
Recovery time
61 days
recovery only: trough to break-even · ≈ 2 months
Underwater
238 days
decline + recovery: peak to break-even · ≈ 8 months · → recovered on 30 Aug 2022

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
01 Mar 202230 Jun 2022-0.75%30 Aug 2022182
13 Mar 202316 Mar 2023-0.55%05 Apr 202323
26 Jul 202327 Jul 2023-0.18%28 Jul 20232
04 Apr 202507 Apr 2025-0.16%17 Apr 202513
01 Sept 202602 Sept 2026-0.03%ongoing2

Calendar-year returns

2021
0.0%
2022
1.5%
2023
6.5%
2024
6.4%
2025
5.1%
2026
3.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.50.30.20.50.50.30.30.5-0.03.0
20250.50.50.30.20.50.50.50.50.50.50.30.35.1
20240.70.70.50.50.50.50.50.50.50.50.30.56.4
20230.70.60.00.50.70.50.70.50.40.50.50.56.5
20220.20.0-0.40.00.0-0.40.20.60.20.00.60.61.5
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.

Series shown from 1 December 2021: the issuer’s earlier data was frozen at the same value for months (placeholder, not prices) and we excluded it. Better a shorter history than a false one.

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 7 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.02% /anno
Declared TER
0.10%
YearFundIndexDifference
2025+5.10%+5.11%-0.01%
2024+6.39%+6.39%+0.01%
2023+6.63%+6.71%-0.07%
2022+1.35%+1.49%-0.14%
2021+0.37%+0.45%-0.08%
2020+0.89%+1.36%-0.46%
2019+3.92%+4.02%-0.10%
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 yearsFull history
Volatility (ann.)5.51%6.77%7.79%
Max drawdown-2.98%-11.68%-11.68%
Sharpe0.49-0.010.22
Sortino0.71-0.010.31
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: 2.20%), 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
0.01years

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

Maturity breakdown (% of fund)
0–1 years
31.36%
1–2 years
29.25%
2–3 years
21.94%
3–5 years
17.01%
Cash and derivatives
0.44%

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
22.39%
AA
26.73%
A
43.99%
BBB
6.46%
Cash and derivatives
0.44%

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
560
565 total lines: 5 cash & derivatives
Top-10 weight
9.0%

Top 10 holdings

EUROPEAN BANK FOR RECONSTRUCTION A MTN · EBRD
1.16%
INTERNATIONAL BANK FOR RECONSTRUCT MTN · IBRD
1.10%
EUROPEAN BANK FOR RECONSTRUCTION A MTN · EBRD
1.08%
INTERNATIONAL BANK FOR RECONSTRUCT · IBRD
0.84%
INTERNATIONAL BANK FOR RECONSTRUCT MTN · IBRD
0.83%
EUROPEAN BANK FOR RECONSTRUCTION A MTN · EBRD
0.82%
INTER-AMERICAN DEVELOPMENT BANK · IADB
0.80%
INTER-AMERICAN DEVELOPMENT BANK MTN · IADB
0.80%
INTERNATIONAL BANK FOR RECONSTRUCT · IBRD
0.79%
KOMMUNALBANKEN AS MTN 144A · KBN
0.79%

Sectors

Banking
48.1%
Supranational
19.9%
Consumer Cyclical
8.8%
Owned No Guarantee
6.0%
Insurance
4.5%
Consumer Non-Cyclical
3.3%
Capital Goods
2.9%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 7.8%AustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 6.5%Switzerland: 1.4%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 2.6%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.9%EstoniaEthiopiaFinland: 1.1%FijiFalkland IslandsFrance: 1.9%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.8%IranIraqIcelandIsraelItalyJamaicaJordanJapan: 4.9%KazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 3.8%KosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 2.9%Norway: 1.7%NepalNew Zealand: 1.1%OmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 1.7%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 35.1%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States35.1%
Supranational19.9%
Australia7.8%
Canada6.5%
United Kingdom5.2%
Japan4.9%
South Korea3.8%
⬇ Download the full portfolio — Excel, 565 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 →

Share classes of the same fund

This page covers ISIN IE00BDFGJ627. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
MXN Hedged (Acc)IE00BDDRDZ46FRMXNXAccumulatingMXN
USD (Acc) · this pageIE00BDFGJ627FLOAAccumulatingUSD
EUR Hedged (Dist)IE00BF11F458FLOEDistributingEUR
GBP Hedged (Dist)IE00BF7TPM11FLOSDistributingGBP
USD (Dist)IE00BZ048462FLOTDistributingUSD
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.

Italian taxation

Effective rate on capital gains
23.04%
White-list share
21.91%
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:

IE00BDFGJ627QDV4(class: USD (Acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BZ048462FLTR(class: USD (Dist))
  • 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 DüsseldorfQDV420 May 2025
Börse HamburgQDV415 Feb 2021
Börse HannoverQDV49 Dec 2024
Börse München / gettexQDV424 Apr 2018
Tradegate ExchangeQDV427 Nov 2024
+ 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 iShares $ Floating Rate Bond UCITS ETF track?
The issuer iShares declares the benchmark: Bloomberg US Floating Rate Note<5 Years Index.
How much does FLOA cost?
The issuer-declared TER is 0.10% per year; the transaction costs estimated in the KID are 0.01%.
How is FLOA taxed in Italy?
On sale, the capital gain is taxed at an effective 23.04% rate (white-list share 21.91%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of FLOA?
The fund size declared by iShares is about 3.4 billion euro.
When was FLOA launched?
The fund was launched on 20 March 2018: it has 8 years of history.
How does FLOA replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does FLOA pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does FLOA trade?
Per the official ESMA register it trades on 5 main exchanges, including Börse Düsseldorf (QDV4), Börse Hamburg (QDV4), Börse Hannover (QDV4), Börse München / gettex (QDV4), Tradegate Exchange (QDV4).
What is FLOA's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.02% per year versus its index (from issuer-declared series).
How many securities does FLOA hold?
The declared portfolio holds 560 securities (plus 5 cash & derivative lines); the top 10 positions weigh 9%.
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.