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Amundi Euro Government Bond 25+Y UCITS ETF USD Hedged AccIndex, costs, backtest, listings and taxation

ISIN: LU2891727930Ticker: MTHU (London SE)Issuer: AmundiClass: UCITS ETF USD Hedged Acc Currency hedging: USD-hedged share class
Issuer-declared data
TER
0.09%
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
1.6 mln EUR
NAV
9.07 USD (1 September 2026)
Domicile
Luxembourg
Inception date
7 November 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 USD Hedged Acc tracks the issuer-declared index: Bloomberg Euro Treasury 50bn 25+ Year Bond 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 0.09%, plus 0.00% 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 7 November 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. 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. 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: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 0.09%: below 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 document
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 2024 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
-12.1%
Annualised
-6.9%
Volatility (ann.)
11.5%
Max drawdown
-17.14%
-15%-9%-3%+3%+9%Nov 2024May 2025Oct 2025Mar 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%)-12%Nov 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%-5%-10%-15%-20%202420252026−17.14% · 07 Sept 2026
Max drawdown
-17.14%
peak → trough
Trough
07 Sept 2026
from the 05 Dec 2024 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
642 days
decline + recovery: peak to break-even · ≈ 1 year and 9 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
05 Dec 202407 Sept 2026-17.14%ongoing642
19 Nov 202420 Nov 2024-0.49%22 Nov 20243

Calendar-year returns

2024
-0.5%
2025
-8.7%
2026
-3.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20261.24.0-3.5-0.32.00.5-4.4-2.1-0.3-3.2
2025-1.50.9-7.34.2-0.5-1.3-1.0-3.52.12.1-0.7-2.0-8.7
2024-4.8-0.5
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
0.09%
YearFundIndexDifference
2025-8.71%-8.69%-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 yearFull history
Volatility (ann.)10.36%12.59%
Max drawdown-9.81%-24.95%
Sharpe-0.42-1.11
Sortino-0.56-1.41
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
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 →

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%Dist. · Acc.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 →

Stock exchange listings

ExchangeTickerTrading since
Börse HannoverD4F022 Oct 2025
Tradegate ExchangeD4F016 Oct 2025
+ 2 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 USD Hedged Acc track?
The issuer Amundi declares the benchmark: Bloomberg Euro Treasury 50bn 25+ Year Bond Index.
How much does MTHU cost?
The issuer-declared TER is 0.09% per year; the transaction costs estimated in the KID are 0.00%.
How is MTHU 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 MTHU?
The fund size declared by Amundi is about 2 million euro.
When was MTHU launched?
The fund was launched on 7 November 2024: it has 1 year of history.
How does MTHU replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does MTHU pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does MTHU trade?
Per the official ESMA register it trades on 2 main exchanges, including Börse Hannover (D4F0), Tradegate Exchange (D4F0).
What was MTHU's worst fall?
Over the available history (since 2024), the maximum drawdown was -17.14%, reached in September 2026. Past performance is not indicative of future results.
How many securities does MTHU 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.