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Amundi Global Corporate Bond 1-5Y Highest Rated ESG UCITS ETF USD Hedged AccIndex, costs, backtest, listings and taxation

ISIN: LU2780870932Ticker: GCRE (Xetra)Issuer: AmundiClass: UCITS ETF USD Hedged Acc Currency hedging: USD-hedged share class
Issuer-declared data
Declared index
Bloomberg MSCI ESG Global Corporate A+ 1-5 Year Select Index
TER
0.18%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
592.8 mln EUR
NAV
111.5 USD (31 August 2026)
Domicile
Luxembourg
Inception date
21 May 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 Global Corporate Bond 1-5Y Highest Rated ESG UCITS ETF USD Hedged Acc tracks the issuer-declared index: Bloomberg MSCI ESG Global Corporate A+ 1-5 Year Select Index. Mind the share class: this is the version hedged to USD — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.18%, plus 0.01% 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 593 million euro, was launched on 21 May 2024 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 MSCI ESG Global Corporate A+ 1-5 Year Select 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 tracking error under normal market conditions is indicated in the Sub-Fund’s prospectus. The Index is a Total Return Index: the coupons paid by the index constituents are included in the index return. The Sub-Fund promotes environmental and/or social characteristics through among others, replicating an Index integrating an environmental, social and governance ("ESG") rating. The Index is a bond index comprising multi-currency fixed-rate, investment-grade corporate debt with between 1 and up to, but not including, 5 years remaining to maturity that applies sector and additional ESG criteria for security eligibility described in Appendix I – ESG Related Disclosures to this Prospectus. The Index follows a selectivity approach that permits the reduction by at least 20% of the initial investment universe (expressed in number of issuers). The Index methodology is constructed using a "Best-in-class approach": best ranked companies are selected to construct the Index. "Best-in-class" is an approach where leading or best-performing investments are selected within a universe, industry sector or class. It excludes companies falling behind on an ESG level, particularly on the basis of ESG ratings. Using such Best-in-class approach, the Index follows an extra-financial approach significantly engaging that permits the reduction by at least 20% of the initial investment universe (expressed in number of issuers). The ESG key issues include for instance, but are not limited to, water stress, carbon emissions, labor management or business ethics. The limits of the approach adopted are described in the Sub-Fund's prospectus through risk factors such as Sustainable investment risk. The ESG score of companies is calculated by an ESG rating agency, using raw data, models and estimates collected/calculated using methods specific to each provider. Due to the lack of standardisation and the uniqueness of each methodology, the information provided may be incomplete. Assessment of sustainability risks is complex and may be based on ESG data which is difficult to obtain, incomplete, estimated, out of date and/or otherwise materially inaccurate. Even when identified, there can be no guarantee that these data will be correctly assessed. The Index applies exclusions to companies involved in activities considered non-aligned with the Paris Climate Agreement (coal extraction, oil, etc.). For further information on the exclusions applied by the Index pursuant to the EU Paris-aligned Benchmarks (PAB), please refer to the "Guidelines on funds’ names using ESG or sustainability-related terms" section of the Prospectus. More information about the composition of the Index and its operating rules are available in the prospectus and at: www.Bloomberg.com. 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 limits of the approach adopted are described in the Sub-Fund's prospectus through risk factors such as Sustainable investment risk. The ESG score of companies is calculated by a proprietary ESG scoring process (Index provider’s), using raw data, models and estimates models and estimates collected/calculated using methods specific to each provider. Due to the lack of standardisation and the uniqueness of each methodology, the information provided may be incomplete, inaccurate or unavailable and as a result, there is a risk that the Investment Manager may incorrectly assess a security or issuer. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and which relate to the Index or constituents of the Index for investment and/or efficient portfolio management. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations. 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 ▾

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 0.18%: above the median of bond ETFs we track (0.15%).
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 May 2024 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+11.4%
Annualised
+4.8%
Volatility (ann.)
1.6%
Max drawdown
-1.31%
-3%+1%+6%+11%+15%May 2024Dec 2024Jul 2025Feb 2026Sept 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%May 2024Sept 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.
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.
0%-1%-2%-3%-4%202420252026−1.31% · 26 Mar 2026
Max drawdown
-1.31%
peak → trough
Trough
26 Mar 2026
from the 27 Feb 2026 peak
Recovery time
81 days
recovery only: trough to break-even · ≈ 3 months
Underwater
108 days
decline + recovery: peak to break-even · ≈ 4 months · → recovered on 15 Jun 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Feb 202626 Mar 2026-1.31%15 Jun 2026108
01 Oct 202401 Nov 2024-0.78%02 Dec 202462
03 Apr 202511 Apr 2025-0.73%24 Apr 202521
06 Dec 202413 Jan 2025-0.63%27 Jan 202552
06 Jul 202623 Jul 2026-0.54%05 Aug 202630

Calendar-year returns

2024
4.1%
2025
5.9%
2026
1.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.40.5-1.00.50.40.2-0.20.2-0.11.0
20250.60.80.30.90.20.70.20.70.40.50.40.25.9
20240.71.40.91.0-0.60.7-0.04.1
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
0.18%
YearFundIndexDifference
2025+5.93%+6.11%-0.18%
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 yearFull history
Volatility (ann.)5.26%6.83%
Max drawdown-3.13%-10.59%
Sharpe0.19-0.11
Sortino0.27-0.15
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
2.49years

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

Maturity breakdown (% of fund)
Short term
18.33%
2 years
53.25%
5 years
28.41%

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
0.61%
AA
21.64%
A
77.13%
Other
0.63%

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
1,997
Top-10 weight
2.3%

Top 10 holdings

BANK OF AMER VAR Dec28 · AS3773692
0.28%
DEUTSCHE TELE 8.75% Jun30 · EC2696895
0.26%
NVIDIA CORP 4.5% Jun31 · DL9265562
0.26%
ABBVIE INC 3.2% Nov29 · BM0475350
0.25%
MORGAN STANLE VAR Jan29 · AQ8631113
0.23%
MORGAN STANLE VAR Apr31 · BH3975381
0.22%
JPMORGAN CHAS VAR May30 · ZS3885218
0.20%
BANK OF AMER VAR Jul31 · BK5895325
0.20%
MORGAN STANLE VAR Oct28 · BZ7595128
0.20%
PFIZER INVSTM 4.45% May28 · ZK6870354
0.20%

Sectors

Financials
58.3%
Health Care
9.4%
Consumer Discretionary
9.2%
Technology
6.5%
Industrials
5.9%
Consumer Staples
5.2%
Communications
3.2%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 3.6%Austria: 0.3%AzerbaijanBurundiBelgium: 0.5%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 7.2%Switzerland: 2.3%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 6%DjiboutiDenmark: 0.9%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 1.5%EstoniaEthiopiaFinland: 0.9%FijiFalkland IslandsFrance: 6.9%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.1%IranIraqIcelandIsraelItaly: 0.5%JamaicaJordanJapan: 4.5%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.4%Norway: 0.4%NepalNew Zealand: 0.8%OmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 1.8%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 52%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States52%
United Kingdom7.9%
Canada7.2%
France6.9%
Germany6%
Japan4.5%
Australia3.6%
Download the full portfolio — Excel, 1,999 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 →

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
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 DüsseldorfGCRE14 Aug 2024
Börse FrankfurtGCRE11 Jun 2024
Börse HamburgGCRE27 Jun 2024
Börse HannoverGCRE9 Dec 2024
Börse München / gettexGCRE11 Jun 2024
Börse StuttgartGCRE24 Jun 2024
Tradegate ExchangeGCRE28 Jun 2024
Xetra (Deutsche Börse)GCRE11 Jun 2024
+ 9 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 Global Corporate Bond 1-5Y Highest Rated ESG UCITS ETF USD Hedged Acc track?
The issuer Amundi declares the benchmark: Bloomberg MSCI ESG Global Corporate A+ 1-5 Year Select Index.
How much does GCRE cost?
The issuer-declared TER is 0.18% per year; the transaction costs estimated in the KID are 0.01%.
How is GCRE taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of GCRE?
The fund size declared by Amundi is about 593 million euro.
When was GCRE launched?
The fund was launched on 21 May 2024: it has 2 years of history.
How does GCRE replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does GCRE pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does GCRE trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (GCRE), Börse Frankfurt (GCRE), Börse Hamburg (GCRE), Börse Hannover (GCRE), Börse München / gettex (GCRE), Börse Stuttgart (GCRE).
What was GCRE's worst fall?
Over the available history (since 2024), the maximum drawdown was -1.31%, reached in March 2026. Past performance is not indicative of future results.
How many securities does GCRE hold?
The declared portfolio holds 1,997 securities; the top 10 positions weigh 2.3%.
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.