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Amundi Prime Global Government Bond UCITS ETF GBP Hedged DistIndex, costs, backtest, listings and taxation

ISIN: LU2977996904Ticker: PRHG (London SE)Issuer: AmundiClass: UCITS ETF GBP Hedged Dist Currency hedging: GBP-hedged share class
Issuer-declared data
TER
0.07%
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
63.2 mln EUR
NAV
10.08 GBP (31 August 2026)
Domicile
Luxembourg
Inception date
27 May 2025
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 Global Government Bond UCITS ETF GBP Hedged Dist tracks the issuer-declared index: Solactive Global Developed Government Bond TR EUR Index. Mind the share class: this is the version hedged to GBP — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.07%, plus 0.02% 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 63 million euro, was launched on 27 May 2025 and is domiciled in Luxembourg. In our registry 1 other ETFs declare the same index.

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 Global Developed 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. The Solactive Global Developed Government Bond Index is a bond index including the fixed-rate government bonds from the main developed, Investment Grade rated countries. 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 (SOLGDGA ). 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 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, the Sub-Fund may also enter into securities lending operations. Dividend Policy : the accumulation share automatically retains, and re-invests, net investment incomes within the Sub-Fund when the distribution share pays dividends annually. The minimum recommended holding term is 4 years. 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 and to receive income 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%).
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) · GBP · from May 2025 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+1.5%
Annualised
+1.1%
Volatility (ann.)
3.1%
Max drawdown
-3.14%
-3%-1%+2%+5%+7%May 2025Sept 2025Jan 2026May 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%)+1%May 2025Sept 2026
Note — currency risk: the fund is denominated (or hedged) in GBP and the chart is in GBP. For a euro investor, returns also depend on the EUR/GBP 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%20252026−3.14% · 19 May 2026
Max drawdown
-3.14%
peak → trough
Trough
19 May 2026
from the 27 Feb 2026 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
193 days
decline + recovery: peak to break-even · ≈ 6 months · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
27 Feb 202619 May 2026-3.14%ongoing193
01 Jul 202515 Jul 2025-1.14%01 Aug 202531
22 Oct 202508 Dec 2025-1.02%12 Feb 2026113
05 Aug 202518 Aug 2025-0.71%05 Sept 202531
11 Sept 202525 Sept 2025-0.49%10 Oct 202529

Calendar-year returns

2025
2.0%
2026
-0.6%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.21.8-2.20.00.50.4-1.2-0.1-0.0-0.6
20250.8-0.40.30.70.90.2-0.52.0
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

We do not publish a tracking difference for this share class — and it is not an oversight.

PRHG is hedged to GBP; the index the issuer places next to it in its documents is the unhedged, foreign-currency version. Subtracting one from the other does not measure replication quality: it measures the exchange rate. In a year when the currency moves 5%, “the TD” would come out near 5 points — a plausible-looking number, with decimals, and wrong.

Other sites publish that number. We would rather show one figure less than one figure wrong: the TD will return here the day we have the GBP-hedged index series, which the issuer does not publish today.

What tracking difference is and how we compute it →

Risk indicators· EUR

Last yearFull history
Volatility (ann.)4.63%4.69%
Max drawdown-2.83%-3.38%
Sharpe-0.44-0.67
Sortino-0.59-0.90
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
6.46years

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

Maturity breakdown (% of fund)
Short term
9.14%
2 years
24.35%
5 years
21.43%
7 years
12.84%
10 years
9.88%
15 years
7.36%
20 years
7.81%
30 years
7.18%

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
11.83%
AA
56.60%
A
24.25%
BBB
6.97%
Other
0.36%

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
1,074
Top-10 weight
4.1%

Top 10 holdings

THE UNITED ST TSY 4.25% 15Aug35 · 91282CNT4
0.43%
THE UNITED ST TSY 4.125% 15Feb36 · 91282CPZ8
0.43%
THE UNITED ST TSY 4.5% 15Nov33 · 91282CJJ1
0.42%
THE UNITED ST TSY 3.875% 15Aug34 · 91282CLF6
0.42%
THE UNITED ST TSY 4.375% 15May36 · 91282CQQ7
0.42%
THE UNITED ST TSY 4% 15Nov35 · 91282CPJ4
0.41%
THE UNITED ST TSY 4.25% 15May35 · 91282CNC1
0.40%
THE UNITED ST TSY 4% 15Feb34 · 91282CJZ5
0.40%
THE UNITED ST TSY 4.625% 15Feb35 · 91282CMM0
0.39%
THE UNITED ST TSY 4.375% 15May34 · 91282CKQ3
0.39%

Sectors

Government
100.0%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 1.8%Austria: 1.1%AzerbaijanBurundiBelgium: 1.6%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2.6%SwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 6.2%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 4.5%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 7.9%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItaly: 6.8%JamaicaJordanJapan: 10.2%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 1.3%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 49.7%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States49.7%
Japan10.2%
France7.9%
Italy6.8%
Germany6.2%
United Kingdom6.1%
Spain4.5%
⬇ Download the full portfolio — Excel, 1,076 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
0.09 GBP
ex 9 Dec 2025 · paid ~12 Dec 2025
Dividends since first payment (9 months)
0.09 GBP
less than 12 months of history: not a full year, not comparable

Yield by year

PeriodDividendsDividend yield
1 year0.09 GBP0.88 %

Dividend contribution to total return

-10%0%10%−0.16 %1 year
dividendsprice changeprice decline

Calendar per share (GBP)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20250.09

Latest dividends

Per shareEx-dividend datePayment
0.09 GBP9 Dec 202512 Dec 2025 · estimated
Per-share dividends as declared by the issuer, in GBP, since the first payment (9 Dec 2025). 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

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

ETFs declaring the same index

FundTERIncomeFund size
ETFGG · Amundi · 2 classes
0.05%Dist. · Acc.80 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
12.54%
White-list share
99.70%
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

ExchangeTicker
London Stock ExchangePRHG
LSE—
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 Global Government Bond UCITS ETF GBP Hedged Dist track?
The issuer Amundi declares the benchmark: Solactive Global Developed Government Bond TR EUR Index.
How much does PRHG cost?
The issuer-declared TER is 0.07% per year; the transaction costs estimated in the KID are 0.02%.
How is PRHG taxed in Italy?
On sale, the capital gain is taxed at an effective 12.54% rate (white-list share 99.70%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of PRHG?
The fund size declared by Amundi is about 63 million euro.
When was PRHG launched?
The fund was launched on 27 May 2025: it has 1 year of history.
How does PRHG replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does PRHG pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does PRHG trade?
Per the official ESMA register it trades on 2 main exchanges, including London Stock Exchange (PRHG).
What was PRHG's worst fall?
Over the available history (since 2025), the maximum drawdown was -3.14%, reached in May 2026. Past performance is not indicative of future results.
How many securities does PRHG hold?
The declared portfolio holds 1,074 securities; the top 10 positions weigh 4.1%.
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.