IE00BFMM9235Ticker: EDMA (Xetra) · ITEH (London SE) · ITEH (Euronext AMS)Issuer: iSharesOne email when new issuers, new metrics and new articles land. Double opt-in, zero spam, one-click unsubscribe.
iShares Italy Govt Bond UCITS ETF tracks the issuer-declared index: Bloomberg Italy Treasury Bond Index. Mind the share class: this is the version hedged to USD — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.22%, plus 0.00% 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 0 million euro, was launched on 19 April 2018 and is domiciled in Ireland.
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 Italy Treasury 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 the 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 bonds denominated in Euro (or the relevant local currency in Italy) issued or guaranteed by the government of Italy. The bonds will have a credit rating which is the same as the credit rating for Italy. They will pay income according to a fixed rate of interest and will have at least one year remaining until maturity (i.e. the time until they become due for repayment) and a minimum outstanding of €300million. 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.
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 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 V 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 accumulating shares (i.e. income will be included in their value). The Fund’s base currency is Euro. Shares for this Share Class are denominated in US Dollar. The performance of your shares may be affected by this currency difference. Your shares will be hedged with the aim of reducing the effect of exchange rate fluctuations between the denominated currency of the shares and the Fund’s underlying portfolio currencies or the Fund’s base currency. FDIs, including FX forward contracts, will be used for currency hedging purposes. The hedging strategy may not completely eliminate currency risk and, therefore, may affect the performance of your shares. Please see the prospectus for further details. 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 peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 20 Aug 2021 | 12 Oct 2022 | -19.31% | 27 May 2025 | 1,376 |
| 21 Feb 2020 | 17 Mar 2020 | -8.65% | 22 Jul 2020 | 152 |
| 03 May 2018 | 18 Oct 2018 | -8.60% | 07 Mar 2019 | 308 |
| 11 Feb 2021 | 17 May 2021 | -4.09% | 05 Aug 2021 | 175 |
| 27 Feb 2026 | 27 Mar 2026 | -4.05% | ongoing | 188 |
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sept | Oct | Nov | Dec | Year | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.8 | 1.3 | -3.1 | 0.6 | 1.6 | 0.6 | -1.7 | -0.3 | -0.2 | -0.5 | |||
| 2025 | 0.2 | 0.8 | -1.5 | 2.2 | 0.8 | 0.5 | 0.2 | -0.2 | 0.6 | 1.5 | 0.2 | -0.2 | 5.2 |
| 2024 | 0.2 | -0.5 | 1.4 | -0.9 | 0.2 | -0.2 | 3.0 | 0.5 | 2.1 | -0.8 | 2.7 | -1.0 | 6.8 |
| 2023 | 3.2 | -1.4 | 2.5 | -0.2 | 1.1 | 0.6 | 0.4 | 0.4 | -3.0 | 0.6 | 3.6 | 3.5 | 11.8 |
| 2022 | -0.5 | -2.5 | -1.2 | -4.4 | -1.8 | -0.8 | 1.7 | -3.7 | -3.1 | 1.4 | 3.1 | -4.4 | -15.4 |
| 2021 | -0.7 | -0.7 | 0.7 | -1.5 | 0.2 | 0.5 | 1.5 | -0.5 | -0.7 | -1.5 | 1.5 | -1.3 | -2.5 |
| 2020 | 3.2 | -0.9 | -2.6 | -1.1 | 1.6 | 2.0 | 1.9 | -0.3 | 2.1 | 1.4 | 0.8 | 0.7 | 9.0 |
| 2019 | 1.4 | -1.0 | 1.8 | 0.8 | -0.2 | 4.0 | 3.4 | 3.7 | 1.6 | -0.5 | -1.9 | 0.0 | 13.7 |
| 2018 | -6.2 | 1.7 | -0.2 | -2.7 | 1.9 | -1.3 | 1.9 | 3.4 | -1.8 |
We do not publish a tracking difference for this share class — and it is not an oversight.
ITEH is hedged to USD; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.
Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the USD-hedged index series, which the issuer does not publish today.
Still want to know how well this fund tracks its index? Look at the unhedged sister class, IITA, where fund and index share the same currency: its TD is the right measure of the management, which is the same. Go to the IITA page →
| Last year | Last 3 years | Last 5 years | Full history | |
|---|---|---|---|---|
| Volatility (ann.) | 5.92% | 7.76% | 9.99% | 9.81% |
| Max drawdown | -4.74% | -10.69% | -12.53% | -12.53% |
| Sharpe | 0.01 | 0.03 | -0.09 | 0.25 |
| Sortino | 0.01 | 0.04 | -0.12 | 0.35 |
Price sensitivity to rates: the longer, the more the fund moves. What is duration →
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.
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.
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.
| Share class | ISIN | Ticker | Income | Currency |
|---|---|---|---|---|
| GBP Hedged (Dist) | IE0003V00UC4 | ITEB | Distributing | GBP |
| EUR (Acc) | IE000589MF42 | IITA | Accumulating | EUR |
| EUR (Dist) | IE00B7LW6Y90 | IITB | Distributing | EUR |
| USD Hedged (Acc) · this page | IE00BFMM9235 | ITEH | Accumulating | USD |
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:
IE00B7LW6Y90IITB(class: EUR (Dist))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.
| Exchange | Ticker | Trading since |
|---|---|---|
| Börse Düsseldorf | EDMA | 20 May 2025 |
| Börse Hamburg | EDMA | 15 Feb 2021 |
| Börse Hannover | EDMA | 9 Dec 2024 |
| Börse München / gettex | EDMA | 19 Jun 2018 |
| Tradegate Exchange | EDMA | 27 Nov 2024 |