ETF sheet · Issuer-declared data

🇮🇹 Effective capital-gains rate: 12.69%details →

Amundi Core Global Government Bond UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU1437016204Ticker: GGOV (Borsa Italiana) · 10AT (Xetra) · GGOV (London SE) · GGOU (Euronext AMS) · GGOV (Euronext Paris)Issuer: AmundiClass: UCITS ETF Acc

Global Bonds tracking the JPM GBI Global Total Return Index Level Unhedged EUR, physical replication, accumulating. Share class in euro (EUR).

6.04 years

modified duration, as declared by Amundi · maturities ↓ ✓ declared by the issuer

AA 58.8%

largest rating bucket, then A 26.2% · full breakdown ↓ ✓ declared by the issuer

0.20% + 0.02%

TER + KID transaction costs ✓ declared by the issuer

1,136

rows published by the issuer · holdings ↓ ✓ declared by the issuer

352 m €

share-class assets ✓ declared by the issuer

−0.13 pt /year

average tracking difference 2023–2025 · year by year ↓ ≈ computed by Rebalix

Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name

Amundi Core Global Government Bond UCITS ETF Acc

Declared index

JPM GBI Global Total Return Index Level Unhedged EUR

Management

Passive (index-tracking) (from the KID)

Replication

Physical

SFDR

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

Domicile

Luxembourg

Share class · this page

ISIN

LU1437016204 · UCITS ETF Acc

Ticker

GGOV (Borsa Italiana) · 10AT (Xetra) · GGOV (London SE) · GGOU (Euronext AMS) · GGOV (Euronext Paris)

Share-class currency

euro (EUR)

TER

0.20%

Transaction costs

0.02% (issuer estimate, from the KID)

Income policy

Accumulating

Share-class assets

352.2 mln EUR

NAV

45.38 EUR (15 October 2026)

Share-class launch

14 November 2016

Data as declared by Amundi in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.

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OverviewIn this sectionQuick reads Fund objective What changed over time Tax

Quick reads

TER 0.20%above the median of bond ETFs we track (0.15%).≈ computed by Rebalix
Average tracking difference over the last 3 years-0.13% p.a., against a declared TER of 0.20%.≈ computed by Rebalix
Duration 6.04 yearsmodified, as declared by Amundi✓ declared by the issuer
Declared ratingAA 58.8% · A 26.2% · AAA 10.3% · BBB 5.7%✓ declared by the issuer
Maturity 2 anni 23.7%the heaviest bucket of the declared breakdown✓ declared by the issuer
Government 100%first sector from the declared portfolio✓ declared by the issuer
1,136 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
Top 10 = 3.7%of the fund✓ declared by the issuer
Effective rate 12.69%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

Amundi Core Global Government Bond UCITS ETF Acc tracks the issuer-declared index: JPM GBI Global Total Return Index Level Unhedged EUR. The declared annual cost (TER) is 0.20%, plus 0.02% 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 352 million euro, was launched on 14 November 2016 and is domiciled in Luxembourg. In our registry 1 other ETFs declare the same index.

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

This Sub-Fund is passively managed. The objective of this Sub-Fund is to track the performance of J.P. Morgan Government Bond Index Global (GBI Global) (the "Index"), and to minimize the tracking error between the net asset value of the sub-fund and the performance of the Index.
Keep reading the KID section ▾
The anticipated level of the tracking error, under normal market conditions, is indicated in the prospectus of the Sub-Fund. The Index is a Total Return Index : the coupons paid by the Index constituents are included in the index return. The Index is a bond index representative of the fixed-rate government securities. More information about the composition of the index and its operating rules are available in the prospectus and at: jpmorgan.com The Index value is available via Bloomberg (JPEIGGEU). The exposure to the Index will be achieved through a direct replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in a proportion extremely close to their proportion in the Index. The Sub-Fund intends to implement a sampled replication model in order to track the performance of the Index and it is therefore not expected that the Sub-Fund will hold each and every underlying component of the Index at all times or hold them in the same proportion as their weightings in the Index. The Sub-Fund may also hold some securities which are not underlying components of the Index. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and also if it allows a better exposition to an Index constituent. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations.
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 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 Sub-Fund on the primary market. Further details are provided in the Amundi Index Solutions prospectus.
Distribution policy:As this is a non-distributing share class, investment income is reinvested. the accumulation share automatically retains, and reinvests, 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 · KID acquired on 4 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.

Share-class launch
14 November 2016
declared by the issuer
Basket snapshots
3 monthly
since September 2026
Dated events
1
latest: tax event, 1 January 2026

Open the history →

Italian taxation

Effective rate on capital gains

12.69%

White-list share

98.60%

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 sectionChart Backtest Tracking difference

Fund performance

issuer-declared net asset value (NAV) · EUR · from Jul 2017 to Oct 2026

Adjusted for inflationCompare with the index

Compare with another ETF

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

Return

-4.6%

Annualised

-0.5%

Volatility (ann.)

5.8%

Max drawdown

-21.03%

18 Jul 2017 → 16 Oct 20269 years and 3 months · -4.6%

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.

Max drawdown

-21.03%

peak → trough

Trough

10 Sept 2026

from the 07 May 2020 peak

Recovery time

not yet

recovery only: trough to break-even

Underwater

2,353 days

decline + recovery: peak to break-even · ≈ 6 years and 5 months · (ongoing)

The five worst falls in the period

From the peak of	Trough	Depth	Back to break-even	Days underwater
07 May 2020	10 Sept 2026	-21.03%	ongoing	2,353
07 Nov 2017	02 Feb 2018	-5.26%	29 May 2018	203
03 Sept 2019	30 Dec 2019	-4.39%	24 Feb 2020	174
20 Aug 2018	25 Sept 2018	-3.36%	04 Dec 2018	106
09 Mar 2020	18 Mar 2020	-3.06%	01 Apr 2020	23

Calendar-year returns

2017

-1.8%

partial, from 18 Jul

2018

4.2%

2019

7.8%

2020

0.5%

2021

0.5%

2022

-12.2%

2023

0.5%

2024

2.6%

2025

-6.2%

2026

1.0%

2017, partial: the available series starts on 18 July 2017 (share class launched on 14 November 2016); the return runs from that date to 29 December 2017 and is not comparable with a full year.

Month-by-month returns

2026Year 1.0%

Jan

-0.6

Feb

1.9

Mar

-0.8

Apr

-0.9

May

0.5

Jun

1.3

Jul

-1.2

Aug

-0.8

Sept

-0.1

Oct

1.7

Nov

Dec

2025Year -6.2%

Jan

0.1

Feb

1.7

Mar

-3.1

Apr

-1.9

May

-0.8

Jun

-1.7

Jul

0.5

Aug

-0.9

Sept

0.2

Oct

1.3

Nov

-0.4

Dec

-1.3

2024Year 2.6%

Jan

-0.0

Feb

-1.1

Mar

0.6

Apr

-2.0

May

-0.5

Jun

1.2

Jul

2.1

Aug

0.0

Sept

0.8

Oct

-1.1

Nov

3.2

Dec

-0.7

2023Year 0.5%

Jan

1.1

Feb

-0.9

Mar

1.1

Apr

-1.4

May

1.3

Jun

-2.5

Jul

-0.9

Aug

0.2

Sept

-0.7

Oct

-1.1

Nov

1.4

Dec

3.0

2022Year -12.2%

Jan

-0.6

Feb

-1.1

Mar

-2.6

Apr

-0.4

May

-1.6

Jun

-0.7

Jul

4.5

Aug

-2.9

Sept

-2.4

Oct

-1.5

Nov

0.2

Dec

-3.6

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	-0.6	1.9	-0.8	-0.9	0.5	1.3	-1.2	-0.8	-0.1	1.7			1.0
2025	0.1	1.7	-3.1	-1.9	-0.8	-1.7	0.5	-0.9	0.2	1.3	-0.4	-1.3	-6.2
2024	-0.0	-1.1	0.6	-2.0	-0.5	1.2	2.1	0.0	0.8	-1.1	3.2	-0.7	2.6
2023	1.1	-0.9	1.1	-1.4	1.3	-2.5	-0.9	0.2	-0.7	-1.1	1.4	3.0	0.5
2022	-0.6	-1.1	-2.6	-0.4	-1.6	-0.7	4.5	-2.9	-2.4	-1.5	0.2	-3.6	-12.2
2021	-0.6	-2.3	1.2	-1.3	-0.8	2.3	1.6	-0.1	-0.3	-0.2	2.9	-1.7	0.5
2020	3.1	2.1	0.2	1.2	-1.6	-0.5	-1.9	-1.7	1.8	0.4	-1.3	-1.1	0.5
2019	0.9	-0.1	2.8	-0.1	2.2	-0.1	1.8	4.1	-0.3	-1.9	0.0	-1.6	7.8
2018	-2.3	1.4	0.7	-0.2	2.7	-0.3	-0.8	0.5	-1.0	1.6	0.5	1.5	4.2
2017								0.3	-0.6	1.1	-1.2	-0.6	-1.8(partial)

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: Amundi. 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 — 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 0 of the last 8 calendar years: a past observation, not an indication of future outperformance.

Average annual TD, 2023–2025

-0.13 pt /year

Declared TER

0.20%

Year	Fund	Index	Difference (pt)
2025	-6.24%	-6.05%	-0.19 pt
2024	+2.61%	+2.78%	-0.17 pt
2023	+0.46%	+0.50%	-0.03 pt
2022	-12.16%	-11.79%	-0.37 pt
2021	+0.46%	+0.60%	-0.14 pt
2020	+0.46%	+0.62%	-0.16 pt
2019	+7.78%	+7.97%	-0.19 pt
2018	+4.25%	+4.35%	-0.10 pt

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? →

RiskIn this sectionRisk

Risk indicators· EUR

Last year

Volatility (ann.)3.79%

Max drawdown-3.12%

Sharpe-0.73

Sortino-0.99

Last 3 years

Volatility (ann.)5.06%

Max drawdown-8.74%

Sharpe-0.51

Sortino-0.70

Last 5 years

Volatility (ann.)6.26%

Max drawdown-17.49%

Sharpe-0.81

Sortino-1.13

Full history

Volatility (ann.)5.82%

Max drawdown-21.03%

Sharpe-0.30

Sortino-0.42

	Last year	Last 3 years	Last 5 years	Full history
Volatility (ann.)	3.79%	5.06%	6.26%	5.82%
Max drawdown	-3.12%	-8.74%	-17.49%	-21.03%
Sharpe	-0.73	-0.51	-0.81	-0.30
Sortino	-0.99	-0.70	-1.13	-0.42

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 sectionDuration Rating Holdings

Duration and maturities

Duration · modified duration

6.04years

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

Maturity breakdown (% of fund)

Short term

12.76%

2 years

23.73%

5 years

20.99%

7 years

12.10%

10 years

9.11%

15 years

7.56%

20 years

7.40%

30 years

6.35%

Source: factsheet Amundi, 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

10.32%

58.80%

26.19%

BBB

5.68%

Other

-0.98%

Source: factsheet Amundi, 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

1,136

Top-10 weight

3.7%

Top 10 holdings

THE UNITED ST TSY 4.625% 15Feb35 · 91282CMM0

0.39%

THE UNITED ST TSY 4.25% 15Nov34 · 91282CLW9

0.38%

THE UNITED ST TSY 4.375% 15May34 · 91282CKQ3

0.38%

THE UNITED ST TSY 4.25% 15May35 · 91282CNC1

0.38%

THE UNITED ST TSY 1.625% 15May31 · 91282CCB5

0.38%

THE UNITED ST TSY 4.375% 15May36 · 91282CQQ7

0.37%

THE UNITED ST TSY 4.125% 15Feb36 · 91282CPZ8

0.36%

THE UNITED ST TSY 4% 15Nov35 · 91282CPJ4

0.36%

THE UNITED ST TSY 4.25% 15Aug35 · 91282CNT4

0.36%

THE UNITED ST TSY 1.125% 15Feb31 · 91282CBL4

0.35%

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 States51.6%

Japan14.5%

France6.4%

United Kingdom6.3%

Italy5.7%

Germany5.1%

Spain3.9%

⬇ Download the published holdings — Excel, 1,136 rows

Holdings as published by Amundi, holdings as at 30 September 2026: 1,136 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. Weights are reported without rescaling and may not sum to 100%. How Rebalix verifies portfolio holdings →

StructureIn this sectionIndex Same index Exchanges

Index tracked

JPM GBI Global Total Return Index Level Unhedged EUR

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 Core Global Government Bond UCITS ETF EUR Hedged Acc compare ⇄ GOVH · Amundi · 3 classes	0.22%	Dist. · Acc.	1.4 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 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:

LU1437016204GGOV

Directazero within the savings plan (buys)
Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
Moneyfarmzero within the savings plan (buys), agreement until 15 May 2027
Moneyfarmzero on single buys from 1,000 €, agreement until 15 May 2027

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

Exchange	Ticker	Exchange source	Registered since
Borsa Italiana (ETFplus)	GGOVfrom tax document	ESMA register (FIRDS)	5 Apr 2017
Börse Düsseldorf	10ATfrom mapping	ESMA register (FIRDS)	20 May 2025
Börse Hamburg	10ATfrom mapping	ESMA register (FIRDS)	11 Feb 2019
Börse Hannover	10ATfrom mapping	ESMA register (FIRDS)	9 Dec 2024
Börse München / gettex	10ATfrom mapping	ESMA register (FIRDS)	24 Sept 2021
Börse Stuttgart	10ATfrom mapping	ESMA register (FIRDS)	23 Feb 2026
Euronext Amsterdam	GGOUfrom tax document	ESMA register (FIRDS)	17 Nov 2025
Euronext Paris	GGOVfrom tax document	ESMA register (FIRDS)	24 Jan 2017
London Stock Exchange	GGOVfrom the issuer	issuer’s product list (exchange outside the FIRDS perimeter)	—
Tradegate Exchange	10ATfrom mapping	ESMA register (FIRDS)	22 Oct 2024
Xetra (Deutsche Börse)	10ATfrom tax document	issuer’s tax document (listing not recorded in FIRDS)	—

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.

from mapping — ticker obtained by ISIN→exchange mapping under the open FIGI standard, not read from the exchange’s list.

from the issuer — ticker declared by the issuer in its product list.

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.

+ 8 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 sectionDocuments FAQ

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.

Frequently asked questions

Which index does Amundi Core Global Government Bond UCITS ETF Acc track?

The issuer Amundi declares the benchmark: JPM GBI Global Total Return Index Level Unhedged EUR.

How much does GGOV cost?

The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.02%.

How is GGOV taxed in Italy?

On sale, the capital gain is taxed at an effective 12.69% rate (white-list share 98.60%): 12.5% on the government-bond “white list” portion, 26% on the rest.

What is the fund size of GGOV?

The fund size declared by Amundi is about 352 million euro.

When was GGOV launched?

The fund was launched on 14 November 2016: it has 9 years of history.

How does GGOV replicate its index?

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

Does GGOV pay dividends?

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

Where does GGOV trade?

Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 11 exchanges with a ticker available, including Borsa Italiana (ETFplus) (GGOV), Börse Düsseldorf (10AT), Börse Hamburg (10AT), Börse Hannover (10AT), Börse München / gettex (10AT), Börse Stuttgart (10AT).

What was GGOV's worst fall?

Over the available history (since 2017), the maximum drawdown was -21.03%, reached in September 2026. Past performance is not indicative of future results.

What is GGOV's tracking difference?

Over the three most recent complete calendar years (2023–2025) the fund returned on average -0.13 percentage points per year versus its index: the annual mean of the differences, from issuer-declared series.

How many positions does GGOV publish?

The list published by the issuer and archived by Rebalix has 1,136 rows; the top 10 weigh 3.7%. 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 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.

Do you represent the issuer? Report a correction or an update

Amundi Core Global Government Bond UCITS ETF AccIndex, costs, backtest, listings and taxation

Fund

Share class · this page

Quick reads

Description and fund objective

What has changed in the fund over time

Italian taxation

Fund performance

Drawdown — distance from previous peak

The five worst falls in the period

Calendar-year returns

Month-by-month returns

Method and sources

Tracking difference — fund vs index

Risk indicators· EUR

Duration and maturities?

Credit rating?

Portfolio holdings· structure first, single issues after

Top 10 holdings

Sectors

Countries

Index tracked

ETFs declaring the same index

Where it shows up commission-free in Italy

Stock exchange listings

Official documents

Frequently asked questions

Duration and maturities

Credit rating