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Amundi China CNY Bonds UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU2439735890Ticker: CNYF (Xetra) · CNYF (Euronext Paris)Issuer: AmundiClass: UCITS ETF Acc
Issuer-declared data
TER
0.20%
Transaction costs
0.08% (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
1.9 mln EUR
NAV
61.45 USD (31 August 2026)
Domicile
Luxembourg
Inception date
28 November 2022
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 China CNY Bonds UCITS ETF Acc tracks the issuer-declared index: Bloomberg China Treasury + Policy Bank Total Return Index USD. The declared annual cost (TER) is 0.20%, plus 0.08% 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 2 million euro, was launched on 28 November 2022 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 Bloomberg China Treasury + Policy Bank Index (the "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. Bloomberg China Treasury + Policy Bank Index is a bond index representative of CNY-denominated fixed rate Treasury and Policy Bank securities listed on the China Interbank market. The Index is a Total Return Index : the coupons paid by the Index constituents are included in the index return. More information about the composition of the index and its operating rules are available in the prospectus and at: Bloomberg. The Index value is available via Bloomberg (I32561US). 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. 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, g the Sub-Fund may also enter into securities lending operations. 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, provided that the Market Makers can maintain market liquidity. 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 prospectus of the UCITS.

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 SubFund 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 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 0.20%: above the median of bond ETFs we track (0.15%).
  • Average tracking difference over the last 3 years: -0.74% p.a., against a declared TER of 0.20%.
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) · USD · from Nov 2022 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+23.2%
Annualised
+5.7%
Volatility (ann.)
3.7%
Max drawdown
-5.79%
-3%+4%+12%+19%+27%Nov 2022Nov 2023Oct 2024Sept 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%)+23%Nov 2022Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
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%-2%-4%-6%-8%-10%2023202420252026−5.79% · 08 Sept 2023
Max drawdown
-5.79%
peak → trough
Trough
08 Sept 2023
from the 13 Jan 2023 peak
Recovery time
321 days
recovery only: trough to break-even · ≈ 11 months
Underwater
559 days
decline + recovery: peak to break-even · ≈ 1 year and 6 months · → recovered on 25 Jul 2024

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
13 Jan 202308 Sept 2023-5.79%25 Jul 2024559
25 Sept 202418 Nov 2024-3.34%09 Jun 2025257
05 Aug 202416 Aug 2024-1.48%05 Sept 202431
26 Feb 202609 Mar 2026-1.10%07 Apr 202640
03 Jul 202520 Aug 2025-1.09%17 Sept 202576

Calendar-year returns

2022
4.3%
2023
1.9%
2024
4.1%
2025
4.3%
2026
6.7%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.91.5-0.51.51.4-0.10.90.60.26.7
20250.6-1.00.11.00.80.8-0.50.5-0.10.70.31.14.3
2024-0.30.7-0.40.20.50.31.71.21.1-1.1-0.81.04.1
20232.8-2.61.6-0.2-1.8-1.72.0-1.3-0.7-0.02.81.11.9
20223.24.3
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 3 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.74% /anno
Declared TER
0.20%
YearFundIndexDifference
2025+4.34%+4.82%-0.48%
2024+4.12%+5.14%-1.02%
2023+1.91%+2.63%-0.73%
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 yearsFull history
Volatility (ann.)4.66%6.23%6.37%
Max drawdown-2.43%-11.48%-11.48%
Sharpe1.570.08-0.04
Sortino2.340.11-0.06
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 — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · modified duration
5.91years

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

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)
A
62.18%
Not rated
36.89%
Other
0.93%

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
187
Top-10 weight
23.7%

Top 10 holdings

THE PEOPLE S 1.42% 15Nov27 · YT0705111
2.79%
THE PEOPLE S 1.36% 15Dec27 · 250024.IB
2.71%
EXPORT-IMPORT 2.46% Feb31 · 240307.IB
2.69%
THE PEOPLE S 1.45% 25Feb28 · 250005.IB
2.51%
THE PEOPLE S 1.91% 15Jul29 · YW2510215
2.40%
THE PEOPLE S 1.32% 25Feb29 · 260004.IB
2.37%
AGRI DVPT BK 2.22% Apr29 · 240405.IB
2.28%
THE PEOPLE S 1.21% 25Jun28 · 260013.IB
2.15%
PEOPLE S REPU 3.32% 15Apr52 · BV8098048
1.92%
EXP-IMP BK CH 3.86% May29 · ZS6417522
1.87%

Sectors

Government
99.2%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChina: 100%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern 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
China100%
⬇ Download the full portfolio — Excel, 189 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

Bloomberg China Treasury + Policy Bank Total Return Index USD
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
18.29%
White-list share
57.10%
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 →

Stock exchange listings

ExchangeTickerTrading since
Börse Düsseldorf—15 Dec 2022
Börse Frankfurt—15 Dec 2022
Börse Hamburg—2 Sept 2025
Börse Hannover—9 Dec 2024
Börse München / gettex—15 Dec 2022
Börse Stuttgart—25 Jan 2023
Tradegate Exchange—8 Feb 2024
Xetra (Deutsche Börse)CNYF15 Dec 2022
+ 11 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 China CNY Bonds UCITS ETF Acc track?
The issuer Amundi declares the benchmark: Bloomberg China Treasury + Policy Bank Total Return Index USD.
How much does CNYE cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.08%.
How is CNYE taxed in Italy?
On sale, the capital gain is taxed at an effective 18.29% rate (white-list share 57.10%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of CNYE?
The fund size declared by Amundi is about 2 million euro.
When was CNYE launched?
The fund was launched on 28 November 2022: it has 3 years of history.
How does CNYE replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does CNYE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does CNYE trade?
Per the official ESMA register it trades on 8 main exchanges, including Xetra (Deutsche Börse) (CNYF).
What was CNYE's worst fall?
Over the available history (since 2022), the maximum drawdown was -5.79%, reached in September 2023. Past performance is not indicative of future results.
What is CNYE's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.74% per year versus its index (from issuer-declared series).
How many securities does CNYE hold?
The declared portfolio holds 187 securities; the top 10 positions weigh 23.7%.
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.