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Amundi Euro Government Bond 25+Y UCITS ETF DistIndex, costs, backtest, listings and taxation

ISIN: LU1686832277Ticker: DFOB (Xetra)Issuer: AmundiClass: UCITS ETF Dist
Issuer-declared data
TER
0.07%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
8.9 mln EUR
NAV
120.55 EUR (1 September 2026)
Domicile
Luxembourg
Inception date
15 February 2024
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 Euro Government Bond 25+Y UCITS ETF Dist tracks the issuer-declared index: Bloomberg Euro Treasury 50bn 25+ Year 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 direct physical replication; income is distributed to investors. The fund has assets of about 9 million euro, was launched on 15 February 2024 and is domiciled in Luxembourg. In our registry 1 other ETFs declare the same index.

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

The Sub-Fund is an index-tracking UCITS passively managed. The investment objective of Fund is to reflect both the performance of the Bloomberg Euro Treasury 50bn 25+ Year Bond Index (the "Index") denominated in Euros, while minimizing the volatility of the difference between the return of the Sub-Fund and the return of the Benchmark Index (the "Tracking Error"). The anticipated level of the tracking error, under normal market conditions, is indicated in the prospectus of the Sub-Fund. The Index consists of fixed-rate, investment grade public obligations of the sovereign countries participating in the European Monetary Union. Only bonds denominated in euros with a maturity over 25 years are included. Additional information about the Index can be found at https://www.bloomberg.com/. The Index is a net total return index. A net total return index calculates the performance of the index constituents on the basis that any dividends or distributions are included in the index returns after withholding tax retention.

Keep reading the KID section ▾

The Sub-Fund seeks to achieve its objective via a direct replication, by investing primarily in the securities comprising the Index. To optimize the Index replication, the Fund may use a sampling replication strategy, and may also engaged in secured securities lending. 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 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:The Fund’s amounts available for distribution (if any) will be distributed.

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 0.07%: below the median of bond ETFs we track (0.15%).
  • Average tracking difference over the last 3 years: -0.10% p.a., against a declared TER of 0.07%.
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) · EUR · from Sept 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-50.4%
Annualised
-11.1%
Volatility (ann.)
17.1%
Max drawdown
-54.45%
-54%-38%-23%-7%+8%Sept 2020Mar 2022Sept 2023Mar 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)-50%Sept 2020Sept 2026
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%-20%-40%-60%-80%202120222023202420252026−54.45% · 03 Oct 2023
Max drawdown
-54.45%
peak → trough
Trough
03 Oct 2023
from the 11 Dec 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,097 days
decline + recovery: peak to break-even · ≈ 5 years and 9 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
11 Dec 202003 Oct 2023-54.45%ongoing2,097
04 Nov 202010 Nov 2020-3.45%08 Dec 202034
16 Oct 202022 Oct 2020-2.49%04 Nov 202019
29 Sept 202007 Oct 2020-0.89%09 Oct 202010
08 Dec 202010 Dec 2020-0.15%11 Dec 20203

Calendar-year returns

2020
3.7%
2021
-11.3%
2022
-41.4%
2023
10.3%
2024
-2.9%
2025
-10.4%
2026
-4.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.03.9-3.8-0.41.80.5-4.5-2.2-0.4-4.2
2025-1.70.7-7.23.8-0.7-1.4-1.3-3.61.91.9-0.9-2.1-10.4
2024-2.4-1.72.2-4.0-1.1-0.85.0-0.11.3-1.45.6-5.0-2.9
20236.8-7.15.0-1.3-0.22.0-3.1-0.3-9.1-1.39.910.510.3
2022-2.2-5.2-4.3-11.4-6.5-5.913.1-12.7-8.9-0.310.3-14.3-41.4
2021-2.2-6.1-1.0-3.5-0.21.45.9-1.9-3.51.53.6-5.2-11.3
20202.90.20.33.7
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: 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. Tracking difference was positive in 0 of the last 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.10% /anno
Declared TER
0.07%
YearFundIndexDifference
2025-10.40%-10.33%-0.07%
2024-2.93%-2.86%-0.08%
2023+10.35%+10.48%-0.14%
2022-41.35%-41.29%-0.06%
2021-11.27%-11.16%-0.11%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. 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 yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)10.44%13.73%18.05%17.05%
Max drawdown-11.64%-23.70%-54.43%-57.68%
Sharpe-0.97-0.46-0.86-0.83
Sortino-1.27-0.64-1.21-1.16
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
18.53years

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

Maturity breakdown (% of fund)
Short term
-0.10%
20 years
16.61%
30 years
83.50%

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)
AAA
26.55%
AA
7.30%
A
51.97%
BBB
14.28%
Other
-0.10%

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
49
Top-10 weight
41.7%

Top 10 holdings

FEDERAL REPUB BRD 2.9% 15Aug56 · YQ0630257
5.82%
FEDERAL REPUB BRD 1.8% 15Aug53 · BY8990867
5.02%
FEDERAL REPUB BRD 2.5% 15Aug54 · ZF6607153
4.82%
FRANCE OAT 4% 25Apr55 · ED8307479
4.35%
FRANCE OAT 4% 25Apr60 · EI1823166
4.05%
FRENCH REPUBL OAT 3.25% 25May55 · ZD3129685
3.91%
FRENCH REPUBL OAT 3% 25May54 · ZM8883088
3.89%
FRENCH REPUBL OAT 3.75% 25May56 · YR4481879
3.54%
KINGDOM OF SP 4% 31Oct54 · ZF8346032
3.27%
REPUBLIC OF I BTPS 4.3% 01Oct54 · YV6828441
3.05%

Sectors

Government
100.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 5.3%AzerbaijanBurundiBelgium: 8.7%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 20.5%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 11.2%EstoniaEthiopiaFinland: 1.4%FijiFalkland IslandsFrance: 29.8%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.7%IranIraqIcelandIsraelItaly: 14.2%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 6.4%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 1.8%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast 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
France29.8%
Germany20.5%
Italy14.2%
Spain11.2%
Belgium8.7%
Netherlands6.4%
Austria5.3%
⬇ Download the full portfolio — Excel, 51 rows
Full portfolio declared by Amundi, as of 1 September 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

Frequency
Annual
Latest dividend
4.25 EUR
ex 9 Dec 2025 · paid ~12 Dec 2025
Dividends, last 12 months
4.25 EUR
Dividend yield
3.53%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year4.25 EUR3.24 %
20254.25 EUR2.93 %
20242.24 EUR1.48 %
20233.29 EUR2.34 %
20223.45 EUR1.41 %
20213.72 EUR1.33 %

Dividend contribution to total return

-50%-40%-30%-20%-10%0%10%20%−4.99 %1 year−10.40 %2025−2.86 %2024+10.26 %2023−41.11 %2022−11.22 %2021
dividendsprice changeprice decline

Calendar per share (EUR)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20254.25
20242.24
20233.29
20222.061.39
20212.211.51
20201.61

Latest dividends

Per shareEx-dividend datePayment
4.25 EUR9 Dec 202512 Dec 2025 · estimated
2.24 EUR10 Dec 202413 Dec 2024 · estimated
3.29 EUR12 Dec 202315 Dec 2023 · estimated
1.39 EUR7 Dec 20229 Dec 2022 · estimated
2.06 EUR6 Jul 20228 Jul 2022 · estimated
1.51 EUR8 Dec 202110 Dec 2021 · estimated
2.21 EUR7 Jul 20219 Jul 2021 · estimated
1.61 EUR9 Dec 202011 Dec 2020 · estimated
Per-share dividends as declared by the issuer, in EUR, since the first payment (9 Dec 2020). Past dividends are not indicative of future ones. An «estimated» payment date is computed by Rebalix (ex-date + 2-3 business days, as this issuer has paid in the past) because the issuer does not publish it: it may differ by a day.

Index tracked

Bloomberg Euro Treasury 50bn 25+ Year Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

ETFs declaring the same index

FundTERIncomeFund size
MTH · Amundi · 3 classesnot on Borsa Italiana
0.07%Acc. · Dist.258 mln 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
12.59%
White-list share
99.30%
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:

LU1686832277DFOB
  • 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 DüsseldorfDFOB25 Sept 2020
Börse FrankfurtDFOB25 Sept 2020
Börse HamburgDFOB25 Sept 2020
Börse HannoverDFOB9 Dec 2024
Börse München / gettexDFOB25 Sept 2020
Börse StuttgartDFOB25 Sept 2020
Tradegate ExchangeDFOB25 Sept 2020
Xetra (Deutsche Börse)DFOB25 Sept 2020
+ 18 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 Euro Government Bond 25+Y UCITS ETF Dist track?
The issuer Amundi declares the benchmark: Bloomberg Euro Treasury 50bn 25+ Year Bond Index.
How much does DFOB cost?
The issuer-declared TER is 0.07% per year; the transaction costs estimated in the KID are 0.00%.
How is DFOB taxed in Italy?
On sale, the capital gain is taxed at an effective 12.59% rate (white-list share 99.30%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of DFOB?
The fund size declared by Amundi is about 9 million euro.
When was DFOB launched?
The fund was launched on 15 February 2024: it has 2 years of history.
How does DFOB replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does DFOB pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does DFOB trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (DFOB), Börse Frankfurt (DFOB), Börse Hamburg (DFOB), Börse Hannover (DFOB), Börse München / gettex (DFOB), Börse Stuttgart (DFOB).
What was DFOB's worst fall?
Over the available history (since 2020), the maximum drawdown was -57.68%, reached in September 2026. Past performance is not indicative of future results.
What is DFOB's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.10% per year versus its index (from issuer-declared series).
How many securities does DFOB hold?
The declared portfolio holds 49 securities; the top 10 positions weigh 41.7%.
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.