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Amundi USD Emerging Markets Government Bond UCITS ETF GBP Hedged Acc tracks the issuer-declared index: J.P. Morgan EMBI Global Diversified Select Index hedged in GBP. 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 0.27%, plus 0.18% 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 4 million euro, was launched on 16 April 2026 and is domiciled in Luxembourg.
This Sub-Fund is passively managed. The objective of this Sub-Fund is to track the performance of J.P. Morgan EMBI Global Diversified 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 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 Index aims to track the performance of liquid, USD-denominated bonds from EM sovereign and quasi-sovereign issuers. More information about the composition of the index and its operating rules are available in the prospectus and at: https://www.jpmorgan.com/. The Index value is available via Bloomberg (JPEITRUS). 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 SubFund 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. 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 peak of | Trough | Depth | Back to break-even | Days underwater |
|---|---|---|---|---|
| 06 May 2026 | 19 May 2026 | -2.19% | 29 May 2026 | 23 |
| 29 Jun 2026 | 23 Jul 2026 | -1.78% | ongoing | 71 |
| 02 Jun 2026 | 08 Jun 2026 | -0.79% | 12 Jun 2026 | 10 |
| 23 Apr 2026 | 29 Apr 2026 | -0.60% | 06 May 2026 | 13 |
| 16 Jun 2026 | 23 Jun 2026 | -0.59% | 29 Jun 2026 | 13 |
We do not publish a tracking difference for this share class — and it is not an oversight.
AEMH 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.
| Full history | |
|---|---|
| Volatility (ann.) | 4.70% |
| Max drawdown | -2.53% |
| Sharpe | 0.10 |
| Sortino | 0.13 |
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.
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.
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.
| Exchange | Ticker |
|---|---|
| LSE | — |