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iShares Core Global Aggregate Bond UCITS ETF USD HedgedIndex, costs, backtest, listings and taxation

ISIN: IE00BMGNVD65Ticker: AGUG (Euronext AMS)Issuer: iShares
Issuer-declared data
Declared index
Bloomberg Global Aggregate Bond Index
TER
0.10%
Transaction costs
0.02% (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
271.9 mln EUR
NAV
4.44 USD (31 August 2026)
Domicile
Ireland
Inception date
13 July 2020
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 Core Global Aggregate Bond UCITS ETF tracks the issuer-declared index: Bloomberg Global Aggregate 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 0.10%, plus 0.02% 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 272 million euro, was launched on 13 July 2020 and is domiciled in Ireland. In our registry 1 other ETFs declare 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 Fund’s assets, which reflects the return of the Bloomberg Global 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 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 global investment-grade debt (i.e. bond) markets and currently is made up of four regional indices (i.e. the Bloomberg Barclays US Aggregate Index, the Bloomberg Barclays Pan-European Aggregate Index, the Bloomberg Barclays AsianPacific Aggregate Index and the Bloomberg Barclays Canadian Aggregate Index) as well as other Bloomberg Barclays index-eligible securities not already included in these four indices. The FI securities that make up the Index may be issued or guaranteed by governments, public international bodies or companies and will pay income according to a fixed and/or floating rate of interest. The FI securities will, at the time of inclusion in the Index, be investment grade (i.e. meet a specified level of creditworthiness). 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 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 semi-annually). Your shares will be denominated in US Dollar, the Fund's base currency. 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 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 0.10%: below the median of bond ETFs we track (0.15%).
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 Jul 2020 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+1.9%
Annualised
+0.3%
Volatility (ann.)
3.7%
Max drawdown
-15.43%
-17%-11%-5%+1%+6%Jul 2020Jan 2022Aug 2023Feb 2025Aug 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%Jul 2020Aug 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.
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%-5%-10%-15%-20%2020202120222023202420252026−15.43% · 21 Oct 2022
Max drawdown
-15.43%
peak → trough
Trough
21 Oct 2022
from the 31 Dec 2020 peak
Recovery time
1,088 days
recovery only: trough to break-even · ≈ 2 years and 12 months
Underwater
1,747 days
decline + recovery: peak to break-even · ≈ 4 years and 9 months · → recovered on 13 Oct 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
31 Dec 202021 Oct 2022-15.43%13 Oct 20251,747
27 Feb 202627 Mar 2026-2.31%ongoing185
06 Aug 202027 Aug 2020-1.00%20 Nov 2020106
28 Oct 202508 Dec 2025-0.76%05 Feb 2026100
30 Nov 202002 Dec 2020-0.31%08 Dec 20208

Calendar-year returns

2020
1.4%
2021
-1.7%
2022
-11.7%
2023
6.8%
2024
3.2%
2025
4.8%
2026
0.1%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.21.4-1.80.30.60.4-1.00.10.1
20250.41.2-0.41.0-0.31.0-0.10.50.70.80.2-0.24.8
2024-0.2-0.70.9-1.60.90.81.91.11.1-1.31.2-0.83.2
20232.3-1.62.20.4-0.5-0.10.0-0.1-1.9-0.63.53.26.8
2022-1.6-1.4-2.1-2.7-0.2-1.62.5-2.7-3.2-0.42.4-1.2-11.7
2021-0.6-1.6-0.40.20.20.51.2-0.2-1.0-0.30.7-0.4-1.7
2020-0.80.30.00.60.31.4
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

We do not publish a tracking difference for this share class — and it is not an oversight.

AGUG 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, AGGG, where fund and index share the same currency: its TD is the right measure of the management, which is the same. Go to the AGGG page →

What tracking difference is and how we compute it →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)6.13%7.35%8.66%8.29%
Max drawdown-5.60%-13.88%-15.60%-15.60%
Sharpe-0.55-0.57-0.45-0.48
Sortino-0.71-0.75-0.61-0.66
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
6.02years

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

Maturity breakdown (% of fund)
0–1 years
1.89%
1–2 years
11.49%
2–3 years
11.48%
3–5 years
19.55%
5–7 years
15.14%
7–10 years
20.18%
10–15 years
5.51%
15–20 years
4.48%
20+ years
9.60%
Cash and derivatives
0.69%

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
11.79%
AA
37.93%
A
31.45%
BBB
14.27%
BB
0.00%
B
0.00%
Not rated
3.87%
Cash and derivatives
0.69%

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
19,979
20000 total lines: 21 cash & derivatives
Top-10 weight
4.2%

Top 10 holdings

CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.83%
FHLMC 30YR UMBS SUPER · FRSD8155
0.68%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.50%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.41%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.36%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.36%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.31%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.27%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.26%
CHINA PEOPLES REPUBLIC OF (GOVERNM · CGB
0.23%

Sectors

Treasuries
52.8%
Agency Fixed Rate
9.3%
Owned No Guarantee
4.7%
Cash and/or Derivatives
2.5%
Supranational
2.1%
Local Authority
1.6%
Government Guaranteed
1.1%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.2%Austria: 0.4%AzerbaijanBurundiBelgium: 0.6%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2%Switzerland: 0.5%Chile: 0.1%China: 10.8%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech Republic: 0.2%Germany: 2.8%DjiboutiDenmark: 0.2%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1.7%EstoniaEthiopiaFinland: 0.2%FijiFalkland IslandsFrance: 3.1%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 0.1%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 0.1%Indonesia: 0.4%IndiaIreland: 2.4%IranIraqIcelandIsrael: 0.2%Italy: 2.6%JamaicaJordanJapan: 7.4%KazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 1.1%KosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatvia: 0.1%MoroccoMoldovaMadagascarMexico: 0.4%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 0.5%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 0.5%Norway: 0.1%NepalNew Zealand: 0.2%OmanPakistanPanamaPeru: 0.1%PhilippinesPapua New GuineaPoland: 0.3%Puerto RicoNorth KoreaPortugal: 0.2%ParaguayQatar: 0.1%Romania: 0.1%RussiaRwandaWestern SaharaSaudi Arabia: 0.1%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 0.3%SwazilandSyriaChadTogoThailand: 0.4%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 29.3%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States29.3%
China10.8%
Japan7.4%
France3.1%
Germany2.8%
United Kingdom2.8%
Italy2.6%
⬇ Download the full portfolio — Excel, 20,000 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
0.07 USD
ex 16 Jul 2026 · paid 29 Jul 2026
Dividends, last 12 months
0.14 USD
Dividend yield
3.16%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.14 USD3.10 %
20250.14 USD3.11 %
20240.12 USD2.68 %
20230.09 USD2.10 %
20220.06 USD1.22 %
20210.06 USD1.19 %

Dividend contribution to total return

-20%-10%0%10%+1.40 %1 year+4.89 %2025+3.12 %2024+6.78 %2023−11.61 %2022−1.78 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.070.07
20250.070.07
20240.060.06
20230.040.05
20220.030.03
20210.030.03

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.07 USD16 Jul 202617 Jul 202629 Jul 2026
0.07 USD15 Jan 202616 Jan 202628 Jan 2026
0.07 USD17 Jul 202518 Jul 202530 Jul 2025
0.07 USD16 Jan 202517 Jan 202529 Jan 2025
0.06 USD18 Jul 202419 Jul 202431 Jul 2024
0.06 USD11 Jan 202412 Jan 202424 Jan 2024
0.05 USD13 Jul 202314 Jul 202326 Jul 2023
0.04 USD12 Jan 202313 Jan 202325 Jan 2023
Per-share dividends as declared by the issuer, in USD, since the first payment (14 Jan 2021). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00BMGNVD65 (share class Hedged). The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
SGD Hedged (Acc)IE000E5H5AN1AGSGDXAccumulatingSGD
USD (Acc)IE000FHBZDZ8AGACAccumulatingUSD
USD (Dist)IE00B3F81409AGGGDistributingUSD
EUR Hedged (Acc)IE00BDBRDM35AGGHAccumulatingEUR
GBP Hedged (Dist)IE00BF540Y54AGBPDistributingGBP
SEK Hedged (Acc)IE00BJBLQB74AGSGXAccumulatingSEK
USD Hedged (Dist) · this pageIE00BMGNVD65AGUGDistributingUSD
NZD Hedged (Acc)IE00BYV3HN70AGGNZXAccumulatingNZD
USD Hedged (Acc)IE00BZ043R46AGGUAccumulatingUSD
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
GLAG · SPDR
0.10%Dist.4.4 mld EUR
2 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
18.41%
White-list share
56.25%
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:

IE00B3F81409EUNU(class: USD (Dist))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BDBRDM35AGGH(class: EUR Hedged (Acc))
  • BG Saxozero within the savings plan (buys)
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BZ043R46QDVJ(class: USD Hedged (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 HamburgAYEH15 Feb 2021
Börse HannoverAYEH9 Dec 2024
Börse München / gettexAYEH22 Sept 2021
Tradegate ExchangeAYEH27 Nov 2024
+ 15 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 Core Global Aggregate Bond UCITS ETF track?
The issuer iShares declares the benchmark: Bloomberg Global Aggregate Bond Index.
How much does AGUG cost?
The issuer-declared TER is 0.10% per year; the transaction costs estimated in the KID are 0.02%.
How is AGUG taxed in Italy?
On sale, the capital gain is taxed at an effective 18.41% rate (white-list share 56.25%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of AGUG?
The fund size declared by iShares is about 272 million euro.
When was AGUG launched?
The fund was launched on 13 July 2020: it has 6 years of history.
How does AGUG replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does AGUG pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does AGUG trade?
Per the official ESMA register it trades on 4 main exchanges, including Börse Hamburg (AYEH), Börse Hannover (AYEH), Börse München / gettex (AYEH), Tradegate Exchange (AYEH).
What was AGUG's worst fall?
Over the available history (since 2020), the maximum drawdown was -17.59%, reached in October 2022. Past performance is not indicative of future results.
How many securities does AGUG hold?
The declared portfolio holds 19,979 securities (plus 21 cash & derivative lines); the top 10 positions weigh 4.2%.
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.