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Amundi US Treasury Bond 7-10Y UCITS ETF EUR Hedged AccIndex, costs, backtest, listings and taxation

ISIN: LU1407888137Ticker: 7USH (Xetra)Issuer: AmundiClass: UCITS ETF EUR Hedged Acc Currency hedging: EUR-hedged share class

Issuer-declared data

Declared index

Bloomberg U.S. Treasury: 7-10 Year TR Index Value Unhedged U

TER

0.10%

Transaction costs

0.03% (issuer estimate, from the KID)

Management

Passive (index-tracking) (from the KID)

Replication

Physical

Income policy

Accumulating

SFDR

Article 6 — does not promote specific ESG characteristics what does it mean?

Fund assets

629.3 mln EUR

NAV

42.2 EUR (31 August 2026)

Domicile

Luxembourg

Inception date

2 June 2023

Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.

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Description

Amundi US Treasury Bond 7-10Y UCITS ETF EUR Hedged Acc tracks the issuer-declared index: Bloomberg U.S. Treasury: 7-10 Year TR Index Value Unhedged U. Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.10%, plus 0.03% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 629 million euro, was launched on 2 June 2023 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 3 ETFs declaring the same index.

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

The Fund is an index-tracking UCITS passively managed. The investment objective of the Fund is to reflect the performance of the Bloomberg Barclays US Treasury 7-10 Year Index (hereinafter the "Benchmark Index"), denominated in US Dollars and representative of United States "Treasury bonds" with remaining maturities between 7 and up to (but not including) 10 years, while minimizing the volatility of the difference between the return of the Fund and the return of the Benchmark Index (the "Tracking Error"). The anticipated level of Tracking error in normal market conditions is indicated in the prospectus. The Benchmark Index is a "total return" type of index (i.e. all coupons detached by the components of the Benchmark index are reinvested in the Benchmark Index). Additional information about the Benchmark Index can be found at https://www.bloomberg.com/professional/product/indices/bloomberg-barclays-indices/. In order to hedge the currency of the share against the currency of the index, the Fund uses a hedging strategy which reduces the impact of changes between the currency of the Index and the currency of the share class.
Keep reading the KID section ▾
The Fund seeks to achieve its objective via a direct replication, by investing primarily in the securities comprising the Benchmark Index. To optimize the Benchmark Index replication, the Fund may use a sampling replication strategy. The potential use of this technique is published on Amundi's website: www.amundietf.com. Updated composition of the Fund holdings is available on www.amundietf.com.
Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to increase the value of their investment and to receive income over the recommended holding period with the ability to bear losses up to the amount invested.
Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the SubFund on the primary market. Further details are provided in the MULTI UNITS LUXEMBOURG prospectus.
Distribution policy:As this is a non-distributing share class, investment income is reinvested. the accumulation share automatically retains, and re-invests, all attributable income within the Sub-Fund; thereby accumulating value in the price of the accumulation shares.
More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

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%).
Assets larger than 76% of bond ETFs we track.

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 version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF 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) · EUR · from Jun 2023 to Sept 2026

Adjusted for inflation

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+0.1%

Annualised

+0.0%

Volatility (ann.)

6.4%

Max drawdown

-8.45%

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.

Max drawdown

-8.45%

peak → trough

Trough

19 Oct 2023

from the 06 Jun 2023 peak

Recovery time

69 days

recovery only: trough to break-even · ≈ 2 months

Underwater

204 days

decline + recovery: peak to break-even · ≈ 7 months · → recovered on 27 Dec 2023

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
06 Jun 2023	19 Oct 2023	-8.45%	27 Dec 2023	204
16 Sept 2024	13 Jan 2025	-7.49%	16 Oct 2025	395
27 Dec 2023	25 Apr 2024	-5.72%	01 Aug 2024	218
27 Feb 2026	01 Sept 2026	-4.62%	ongoing	193
26 Nov 2025	20 Jan 2026	-1.82%	13 Feb 2026	79

Calendar-year returns

2023

-0.1%

2024

-2.6%

2025

5.9%

2026

-2.9%

Month-by-month returns

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	-0.5	2.4	-2.5	-0.2	-0.2	0.1	-1.5	0.0	-0.3				-2.9
2025	0.5	2.7	0.2	0.8	-1.4	1.3	-0.8	1.5	0.5	0.5	0.8	-0.7	5.9
2024	-0.3	-2.2	0.7	-3.3	1.6	1.1	2.7	1.2	1.2	-3.6	0.9	-2.4	-2.6
2023							-0.8	-0.9	-3.3	-2.0	4.3	3.8	-0.1

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: Amundi. 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

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.

Declared TER

0.10%

Year	Fund	Index	Difference
2025	+5.91%	+6.04%	-0.12%
2024	-2.57%	-2.49%	-0.08%

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 year	Last 3 years	Full history
Volatility (ann.)	4.50%	6.26%	6.42%
Max drawdown	-4.62%	-7.49%	-8.45%
Sharpe	-1.15	-0.26	-0.47
Sortino	-1.53	-0.36	-0.64

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: 2.21%), 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.

Duration and maturities

Duration · modified duration

6.89years

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

Maturity breakdown (% of fund)

7–10 years

99.99%

Cash and derivatives

0.01%

Source: factsheet Amundi, data as of 31 July 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)

97.84%

Other

2.16%

Source: factsheet Amundi, data as of 31 July 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

Top-10 weight

82.2%

Top 10 holdings

THE UNITED ST TSY 4.625% 15Feb35 · 91282CMM0

8.41%

THE UNITED ST TSY 4.375% 15May34 · 91282CKQ3

8.39%

THE UNITED ST TSY 4.375% 15May36 · 91282CQQ7

8.31%

THE UNITED ST TSY 4.25% 15Nov34 · 91282CLW9

8.30%

THE UNITED ST TSY 4.25% 15May35 · 91282CNC1

8.28%

THE UNITED ST TSY 4.25% 15Aug35 · 91282CNT4

8.17%

THE UNITED ST TSY 4% 15Nov35 · 91282CPJ4

8.09%

THE UNITED ST TSY 4% 15Feb34 · 91282CJZ5

8.07%

THE UNITED ST TSY 4.125% 15Feb36 · 91282CPZ8

8.07%

THE UNITED ST TSY 4.5% 15Nov33 · 91282CJJ1

8.06%

Sectors

Government

100.0%

Countries

up to 1%1–5%5–15%15–30%over 30%

Hover a country for its percentage.

Top 7 countries

United States100%

⬇ Download the full portfolio — Excel, 14 rows

Full portfolio declared by Amundi, 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 →

Index tracked

Bloomberg U.S. Treasury: 7-10 Year TR Index Value Unhedged U

This fund belongs to the government bonds family: compare all census ETFs in this family →

ETFs declaring the same index

Fund	TER	Income	Fund size
Amundi US Treasury Bond 7-10Y UCITS ETF Acc compare ⇄ US7 · Amundi · 3 classes	0.06%	Dist. · Acc.	349 mln EUR
Amundi US Treasury Bond 7-10Y UCITS ETF HKD Hedged Acc compare ⇄ U710H · Amundinot on Borsa Italiana	0.06%	Acc.	930,052 EUR

3 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

12.54%

White-list share

99.70%

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:

LU14078881377USH

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

Exchange	Ticker	Trading since
Börse Düsseldorf	—	2 Jun 2023
Börse Frankfurt	—	2 Jun 2023
Börse Hamburg	—	5 Jun 2023
Börse Hannover	—	9 Dec 2024
Börse München / gettex	—	2 Jun 2023
Börse Stuttgart	—	22 Jun 2023
Tradegate Exchange	—	2 Jun 2023
Xetra (Deutsche Börse)	7USH	2 Jun 2023

+ 19 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 Amundi US Treasury Bond 7-10Y UCITS ETF EUR Hedged Acc track?

The issuer Amundi declares the benchmark: Bloomberg U.S. Treasury: 7-10 Year TR Index Value Unhedged U.

How much does 7USH cost?

The issuer-declared TER is 0.10% per year; the transaction costs estimated in the KID are 0.03%.

How is 7USH taxed in Italy?

On sale, the capital gain is taxed at an effective 12.54% rate (white-list share 99.70%): 12.5% on the government-bond “white list” portion, 26% on the rest.

What is the fund size of 7USH?

The fund size declared by Amundi is about 629 million euro.

When was 7USH launched?

The fund was launched on 2 June 2023: it has 3 years of history.

How does 7USH replicate its index?

It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).

Does 7USH pay dividends?

No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).

Where does 7USH trade?

Per the official ESMA register it trades on 8 main exchanges, including Xetra (Deutsche Börse) (7USH).

What was 7USH's worst fall?

Over the available history (since 2023), the maximum drawdown was -8.45%, reached in October 2023. Past performance is not indicative of future results.

How many securities does 7USH hold?

The declared portfolio holds 13 securities; the top 10 positions weigh 82.2%.

Transparency note

The data in this sheet is declared by Amundi 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.