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Amundi Prime Euro Government Bond UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU2089238898Ticker: PRAR (Xetra)Issuer: AmundiClass: UCITS ETF Acc
Issuer-declared data
TER
0.05%
Transaction costs
0.02% (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
685.4 mln EUR
NAV
17.81 EUR (31 August 2026)
Domicile
Luxembourg
Inception date
15 January 2020
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 Prime Euro Government Bond UCITS ETF Acc tracks the issuer-declared index: Solactive Eurozone Government Bond Index TR. The declared annual cost (TER) is 0.05%, 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 685 million euro, was launched on 15 January 2020 and is domiciled in Luxembourg.

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 Solactive Eurozone Government Bond Index, and to minimize the tracking error between the net asset value of the Sub-Fund and the performance of the Index. 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. Solactive Eurozone Government Bond Index is a bonds index, representative of domestic government bonds issued by euro zone countries that have an investment grade credit rating from one rating agency (Standard & Poors or Moodys). More information about the composition of the index and its operating rules are available in the prospectus and at: solactive.de The Index value is available via Bloomberg (SOLEUSOV). 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 SubFund 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.

Keep reading the KID section ▾

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 · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.05%: below the median of bond ETFs we track (0.15%).
  • Assets larger than 77% of bond ETFs we track.
  • Average tracking difference over the last 3 years: -0.03% p.a., against a declared TER of 0.05%.
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 Jan 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-11.1%
Annualised
-1.8%
Volatility (ann.)
5.9%
Max drawdown
-22.33%
-21%-14%-7%+1%+8%Jan 2020Sept 2021May 2023Jan 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%)-11%Jan 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%-5%-10%-15%-20%-25%-30%2020202120222023202420252026−22.33% · 28 Sept 2023
Max drawdown
-22.33%
peak → trough
Trough
28 Sept 2023
from the 11 Dec 2020 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
2,092 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 202028 Sept 2023-22.33%ongoing2,092
06 Mar 202018 Mar 2020-5.69%28 Sept 2020206
05 Nov 202010 Nov 2020-1.02%08 Dec 202033
16 Oct 202022 Oct 2020-0.75%04 Nov 202019
31 Jan 202006 Feb 2020-0.56%20 Feb 202020

Calendar-year returns

2020
4.3%
2021
-3.4%
2022
-18.1%
2023
6.7%
2024
1.7%
2025
0.6%
2026
-1.3%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.71.4-2.70.31.10.4-1.7-0.6-0.2-1.3
2025-0.10.7-1.81.90.1-0.2-0.2-0.50.50.9-0.1-0.60.6
2024-0.5-1.21.0-1.4-0.20.32.30.41.3-1.02.3-1.51.7
20232.1-2.32.3-0.00.4-0.3-0.20.4-2.70.43.03.66.7
2022-1.1-1.9-2.4-3.8-1.9-1.84.1-5.2-3.90.22.4-4.2-18.1
2021-0.6-1.90.2-1.1-0.00.51.8-0.6-1.2-0.61.7-1.6-3.4
20200.4-2.60.40.31.01.1-0.81.41.00.10.14.3
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. 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)
-0.03% /anno
Declared TER
0.05%
YearFundIndexDifference
2025+0.59%+0.62%-0.03%
2024+1.71%+1.76%-0.04%
2023+6.69%+6.70%-0.01%
2022-18.11%-18.11%+0.00%
2021-3.42%-3.40%-0.02%
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 yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)4.12%4.71%6.21%5.83%
Max drawdown-3.57%-4.03%-20.83%-22.33%
Sharpe-0.61-0.23-0.82-0.59
Sortino-0.84-0.32-1.15-0.83
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, the fund's currency; the table follows the currency selected in the chart.

Duration and maturities

Duration · modified duration
6.74years

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

Maturity breakdown (% of fund)
Short term
6.35%
2 years
21.51%
5 years
21.37%
7 years
15.75%
10 years
14.05%
15 years
8.17%
20 years
6.75%
30 years
6.05%

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
23.99%
AA
6.84%
A
46.70%
BBB
22.24%
Other
0.22%

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
423
Top-10 weight
8.0%

Top 10 holdings

FRANCE OAT 2.5% 25May30 · EK2432749
0.92%
FRANCE OAT 1.5% 25May31 · UV9949289
0.84%
FRANCE OAT 0.75% 25May28 · AP3656380
0.83%
FRENCH REPUBL OAT 2.75% 25Feb29 · ZK2178539
0.82%
FRENCH REPUBL OAT 3.5% 25Nov33 · ZH2111115
0.82%
FRANCE OAT 2.75% 25Oct27 · EJ3468919
0.79%
FRENCH REPUBL OAT 2.75% 25Feb30 · ZB4289912
0.78%
FRENCH REPUBL OAT 0.75% 25Nov28 · AS9078385
0.76%
FRENCH REPUBL OAT 3.5% 25Nov35 · YL7489823
0.75%
FRENCH REPUBL OAT 2% 25Nov32 · BX5681560
0.73%

Sectors

Government
100.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 3.6%AzerbaijanBurundiBelgium: 5.2%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 19.9%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 14.6%EstoniaEthiopiaFinland: 1.9%FijiFalkland IslandsFrance: 25.2%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 1.4%IranIraqIcelandIsraelItaly: 21.9%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 4.2%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugal: 2%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
France25.2%
Italy21.9%
Germany19.9%
Spain14.6%
Belgium5.2%
Netherlands4.2%
Austria3.6%
Download the full portfolio — Excel, 425 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 →

Index tracked

Solactive Eurozone Government Bond Index TR
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
12.51%
White-list share
99.90%
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:

LU1931975152ETFGOV
  • 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 DüsseldorfPRAR10 Feb 2020
Börse FrankfurtPRAR28 Jan 2020
Börse HamburgPRAR19 Feb 2020
Börse HannoverPRAR9 Dec 2024
Börse München / gettexPRAR12 Mar 2020
Börse StuttgartPRAR12 Feb 2021
Tradegate ExchangePRAR28 Feb 2020
Xetra (Deutsche Börse)PRAR28 Jan 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 Prime Euro Government Bond UCITS ETF Acc track?
The issuer Amundi declares the benchmark: Solactive Eurozone Government Bond Index TR.
How much does PRAR cost?
The issuer-declared TER is 0.05% per year; the transaction costs estimated in the KID are 0.02%.
How is PRAR taxed in Italy?
On sale, the capital gain is taxed at an effective 12.51% rate (white-list share 99.90%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of PRAR?
The fund size declared by Amundi is about 685 million euro.
When was PRAR launched?
The fund was launched on 15 January 2020: it has 6 years of history.
How does PRAR replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does PRAR pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does PRAR trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (PRAR), Börse Frankfurt (PRAR), Börse Hamburg (PRAR), Börse Hannover (PRAR), Börse München / gettex (PRAR), Börse Stuttgart (PRAR).
What was PRAR's worst fall?
Over the available history (since 2020), the maximum drawdown was -22.33%, reached in September 2023. Past performance is not indicative of future results.
What is PRAR's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.03% per year versus its index (from issuer-declared series).
How many securities does PRAR hold?
The declared portfolio holds 423 securities; the top 10 positions weigh 8%.
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.