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ETF sheet · Issuer-declared data
🇮🇹 Effective capital-gains rate: 12.74%details →

State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Acc)Index, costs, backtest, listings and taxation

ISIN: IE00BMYHQM42Ticker: GOVA (Borsa Italiana) · SPF0 (Xetra)Issuer: SPDR

Eurozone Bonds tracking the Bloomberg Euro Treasury Bond Index, physical, sampled replication, accumulating. Share class in euro (EUR).

6.72 years
effective duration, as declared by SPDR · maturities ↓ ✓ declared by the issuer
A 46.9%
largest rating bucket · full breakdown ↓ ✓ declared by the issuer
0.07% + 0.00%
TER + KID transaction costs ✓ declared by the issuer
430
rows published by the issuer · holdings ↓ ✓ declared by the issuer
1.3 bn €
fund assets ✓ declared by the issuer
−0.04 pt /year
average tracking difference 2023–2025 · year by year ↓ ≈ average of issuer-declared yearly TD
Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name
State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Acc)
Management
Passive (index-tracking) (from the KID)
SFDR
not declared in the sources we read ≈ Rebalix reading: Article 6 (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
1.3 bn EUR
Domicile
Ireland

Share class · this page

ISIN
IE00BMYHQM42
Ticker
GOVA (Borsa Italiana) · SPF0 (Xetra)
Share-class currency
euro (EUR)
TER
0.07%
Transaction costs
0.00% (issuer estimate, from the KID)
Income policy
NAV
25.23 EUR (14 October 2026)
Share-class launch
19 November 2020
Data as declared by SPDR in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.
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Quick reads

  • TER 0.07%below the median of bond ETFs we track (0.15%).≈ computed by Rebalix
  • Assetslarger than 86% of bond ETFs we track.≈ computed by Rebalix
  • Duration 6.72 yearseffective, as declared by SPDR✓ declared by the issuer
  • Declared ratingA 46.9%✓ declared by the issuer
  • Maturity 1–3 Anni 22.1%the heaviest bucket of the declared breakdown✓ declared by the issuer
  • 430 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
  • Top 10 = 8.1%of the fund✓ declared by the issuer
  • Effective rate 12.74%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

State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Acc) tracks the issuer-declared index: Bloomberg Euro Treasury Bond Index. The declared annual cost (TER) is 0.07%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is stratified-sampling physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 1.3 billion euro, was launched on 19 November 2020 and is domiciled in Ireland. In our registry 3 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

The Shares of the EUR Class are issued in Euro. Investment objective The objective of the Fund is to track the performance of the Eurozone government bond market. Index Source: The Index is the intellectual property of the Index provider.

Keep reading the KID section ▾

The Fund is not sponsored or endorsed by the Index provider. The Index provider does not provide any warranty or accept any liability in relation to any error relating to the Index, including any error in respect of the quality, accuracy or completeness of Index data, and does not guarantee that the Index will be in line with the described Index methodology. Please see the Prospectus for the full index disclaimer. The Fund seeks to track the performance of the Bloomberg Euro Treasury Bond Index (the "Index") as closely as possible. The Fund is an index tracking fund (also known as a passively managed fund). Investment policies The Fund invests primarily in securities included in the Index. These securities include bonds issued by governments from the Eurozone. As it may be difficult to purchase all securities in the Index efficiently, in seeking to track the performance of the Index the Fund will use a stratified sampling strategy to build a representative portfolio. Consequently, the Fund will typically hold only a subset of the securities included in the Index. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day.

Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 3 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Custodial Services (Ireland) Limited.

From the KID’s “Objectives” section · KID acquired on 5 August 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
    19 November 2020
    declared by the issuer
  2. Basket snapshots
    3 monthly
    since August 2026
  3. Dated events
    none so far
    TER, index, name, tax: every change is an event
Open the history →

Italian taxation

Effective rate on capital gains
12.74%
White-list share
98.19%
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) · EUR · from Nov 2020 to Oct 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-15.9%
Annualised
-2.9%
Volatility (ann.)
6.0%
Max drawdown
-22.60%
-25%-18%-11%-4%+3%Nov 2020May 2022Nov 2023Apr 2025Oct 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)-15.9%
20 Nov 2020 → 16 Oct 20265 years and 11 months · -15.9%
20 Nov 202016 Oct 2026Nov 2020Oct 2026
Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.
Calculations on the NAV: issuer total-return series not available.
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%-25%-30%202120222023202420252026−22.60% · 28 Sept 2023
Max drawdown
-22.60%
peak → trough
Trough
28 Sept 2023
from the 11 Dec 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,135 days
decline + recovery: peak to break-even · ≈ 5 years and 10 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
11 Dec 202028 Sept 2023-22.60%ongoing2,135
26 Nov 202001 Dec 2020-0.54%08 Dec 202012
20 Nov 202024 Nov 2020-0.07%26 Nov 20206
08 Dec 202010 Dec 2020-0.03%11 Dec 20203

Calendar-year returns

2020
0.1%
launch 19 Nov, series from 20 Nov
2021
-3.5%
2022
-18.6%
2023
7.0%
2024
1.8%
2025
0.7%
2026
-2.4%
2020: the share class was launched on 19 November 2020 and the available series starts on 20 November 2020; the return runs from that date (not from launch) to 31 December 2020 and is not a full year.

Month-by-month returns

2026Year -2.4%
Jan
0.7
Feb
1.4
Mar
-2.7
Apr
0.3
May
1.1
Jun
0.4
Jul
-1.7
Aug
-0.6
Sept
-2.2
Oct
0.9
Nov
·
Dec
·
2025Year 0.7%
Jan
-0.1
Feb
0.7
Mar
-1.8
Apr
2.0
May
0.1
Jun
-0.2
Jul
-0.2
Aug
-0.5
Sept
0.5
Oct
0.9
Nov
-0.0
Dec
-0.6
2024Year 1.8%
Jan
-0.5
Feb
-1.2
Mar
1.0
Apr
-1.4
May
-0.1
Jun
0.2
Jul
2.3
Aug
0.4
Sept
1.3
Oct
-1.0
Nov
2.3
Dec
-1.5
2023Year 7.0%
Jan
2.4
Feb
-2.3
Mar
2.4
Apr
-0.1
May
0.4
Jun
-0.3
Jul
-0.2
Aug
0.3
Sept
-2.7
Oct
0.4
Nov
3.0
Dec
3.6
2022Year -18.6%
Jan
-1.1
Feb
-2.0
Mar
-2.4
Apr
-3.8
May
-1.8
Jun
-1.9
Jul
4.1
Aug
-5.2
Sept
-3.8
Oct
0.2
Nov
2.4
Dec
-4.6
JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.71.4-2.70.31.10.4-1.7-0.6-2.20.9-2.4
2025-0.10.7-1.82.00.1-0.2-0.2-0.50.50.9-0.0-0.60.7
2024-0.5-1.21.0-1.4-0.10.22.30.41.3-1.02.3-1.51.8
20232.4-2.32.4-0.10.4-0.3-0.20.3-2.70.43.03.67.0
2022-1.1-2.0-2.4-3.8-1.8-1.94.1-5.2-3.80.22.4-4.6-18.6
2021-0.6-1.90.1-1.1-0.10.51.8-0.6-1.2-0.61.7-1.6-3.5
20200.10.1(from 20 Nov)
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

Source: SPDR. 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 — issuer-declared

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 5 calendar years: a past observation, not an indication of future outperformance.
Average annual TD, 2023–2025
-0.04 pt /year
Declared TER
0.07%
YearFundIndexDifference (pt)
2025+0.66%+0.56%+0.11 pt
2024+1.76%+1.88%-0.12 pt
2023+7.03%+7.13%-0.10 pt
2022-18.56%-18.46%-0.10 pt
2021-3.53%-3.46%-0.08 pt
2020launch year+0.05%+0.06%-0.01 pt
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 August 2026), not computed by us. Partial years excluded. Currency of the declared returns not documented. Launch of the current share class: 19 November 2020. The launch year includes months before the launch. The average and the count of positive years consider only years entirely after the launch. What is tracking difference? →
RiskIn this sectionRisk

Risk indicators· EUR

Last year
Volatility (ann.)4.37%
Max drawdown-5.54%
Sharpe-1.25
Sortino-1.68
Last 3 years
Volatility (ann.)4.68%
Max drawdown-5.54%
Sharpe-0.13
Sortino-0.18
Last 5 years
Volatility (ann.)6.34%
Max drawdown-21.06%
Sharpe-0.81
Sortino-1.15
Full history
Volatility (ann.)5.97%
Max drawdown-22.60%
Sharpe-0.82
Sortino-1.15
Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)4.37%4.68%6.34%5.97%
Max drawdown-5.54%-5.54%-21.06%-22.60%
Sharpe-1.25-0.13-0.81-0.82
Sortino-1.68-0.18-1.15-1.15
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, the fund's currency; the table follows the currency selected in the chart.
PortfolioIn this sectionDurationRatingHoldings

Duration and maturities

Duration · effective duration
6.72years

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

Maturity breakdown (% of fund)
< 1 year
0.12%
1–3 years
22.14%
3–5 years
18.31%
5–7 years
14.62%
7–10 years
16.82%
10–20 years
18.33%
> 20 years
9.66%

Source: factsheet SPDR, data as of 30 September 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
23.76%
Aa
6.65%
A
46.88%
Baa
22.70%

Source: factsheet SPDR, data as of 30 September 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
430
Top-10 weight
8.1%

Top 10 holdings

FRANCE (GOVT OF) 2.75 02/25/2029Coupon 2.75% · Maturity 2029
0.92%
FRANCE (GOVT OF) 3.5 11/25/2033Coupon 3.50% · Maturity 2033
0.91%
FRANCE (GOVT OF) 0.75 05/25/2028Coupon 0.75% · Maturity 2028
0.85%
FRANCE (GOVT OF) 2.7 02/25/2031Coupon 2.70% · Maturity 2031
0.85%
FRANCE (GOVT OF) 3.5 11/25/2035Coupon 3.50% · Maturity 2035
0.83%
FRANCE (GOVT OF) 2.75 02/25/2030Coupon 2.75% · Maturity 2030
0.79%
FRANCE (GOVT OF) 2 11/25/2032Coupon 2.00% · Maturity 2032
0.77%
FRANCE (GOVT OF) 2.5 05/25/2030Coupon 2.50% · Maturity 2030
0.74%
FRANCE (GOVT OF) 0.75 11/25/2028Coupon 0.75% · Maturity 2028
0.73%
FRANCE (GOVT OF) 3.2 05/25/2035Coupon 3.20% · Maturity 2035
0.73%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 3.5%AzerbaijanBurundiBelgium: 4.9%BeninBurkina FasoBangladeshBulgaria: 0.3%The BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprus: 0.1%Czech RepublicGermany: 19.5%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 14.2%EstoniaEthiopiaFinland: 1.8%FijiFalkland IslandsFrance: 23.7%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 1%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatia: 0.3%HaitiHungaryIndonesiaIndiaIreland: 1.4%IranIraqIcelandIsraelItaly: 21.3%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuania: 0.3%Luxembourg: 0.2%Latvia: 0.1%MoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 4.1%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 2%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakia: 0.8%Slovenia: 0.3%SwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
France23.7%
Italy21.3%
Germany19.5%
Spain14.2%
Belgium4.9%
Netherlands4.1%
Austria3.5%
Items not attributed to a country: 0.1% “EUROPE” — labels as declared by the issuer.
Breakdown computed by Rebalix by aggregating the full-precision per-position weights declared by the issuer.
⬇ Download the published holdings — Excel, 430 rows
Holdings as published by SPDR, holdings as at 30 September 2026: 430 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. How Rebalix verifies portfolio holdings →
StructureIn this sectionIndexSame indexExchanges

Index tracked

Bloomberg Euro Treasury Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

ETFs declaring the same index

FundTERIncomeFund size
SEGA · iShares · 2 classes
0.07%Dist. · Acc.5.4 mld EUR
UBSactive
—Acc.5 mln EUR
UBSactivenot on Borsa Italiana
—Dist.5 mln EUR
4 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 as follows: Milan-listed classes first, then the others; within each group by ascending TER, then by descending assets. A dash “—” = not declared by the issuer in the files we read — not a zero.

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:

IE00BMYHQM42GOVA
  • Moneyfarmzero on single buys from 1,000 €, agreement until 12 January 2028
IE00B3S5XW04GOVY
  • Moneyfarmzero on single buys from 1,000 €, agreement until 12 January 2028
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)GOVAfrom the issuerESMA register (FIRDS)22 Mar 2021
Börse DüsseldorfSPF0from mappingESMA register (FIRDS)9 Jun 2026
Börse HamburgSPF0from mappingESMA register (FIRDS)13 Aug 2026
Börse HannoverSPF0from mappingESMA register (FIRDS)9 Dec 2024
Börse München / gettexSPF0from mappingESMA register (FIRDS)4 Nov 2024
Xetra (Deutsche Börse)SPF0from tax documentissuer’s tax document (listing not recorded in FIRDS)—
from the issuer — ticker declared by the issuer in its product list.
from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.
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.
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.
+ 5 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 Italian, 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 State Street® SPDR® Bloomberg Euro Government Bond UCITS ETF (Acc) track?
The issuer SPDR declares the benchmark: Bloomberg Euro Treasury Bond Index.
How much does GOVA cost?
The issuer-declared TER is 0.07% per year; the transaction costs estimated in the KID are 0.00%.
How is GOVA taxed in Italy?
On sale, the capital gain is taxed at an effective 12.74% rate (white-list share 98.19%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of GOVA?
The fund size declared by SPDR is about 1.3 billion euro.
When was GOVA launched?
The fund was launched on 19 November 2020: it has 5 years of history.
How does GOVA replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (sampled) (issuer wording: “Stratified Sampling”).
Does GOVA pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulation”).
Where does GOVA trade?
Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 6 exchanges with a ticker available, including Borsa Italiana (ETFplus) (GOVA), Börse Düsseldorf (SPF0), Börse Hamburg (SPF0), Börse Hannover (SPF0), Börse München / gettex (SPF0), Xetra (Deutsche Börse) (SPF0).
What was GOVA's worst fall?
Over the available history (since 2020), the maximum drawdown was -22.60%, reached in September 2023. Past performance is not indicative of future results.
How many positions does GOVA publish?
The list published by the issuer and archived by Rebalix has 430 rows; the top 10 weigh 8.1%. 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 SPDR 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