IE00BZ048462Ticker: FLTR (Borsa Italiana) · QDVY (Xetra) · FLOT (London SE) · FLOT (SIX)Issuer: iShares/BlackRockClass: USD (Dist)The white-list share is a property of the fund: it is identical across all its share classes (accumulating, distributing, currency-hedged). You are viewing the highlighted class.
iShares $ Floating Rate Bond UCITS ETF has a mixed composition: the 21.91% white-list share lowers the effective rate to 23.04%, versus the full 26% of a fund holding no government bonds. This is the typical profile of balanced and multi-asset funds: the larger the government component, the closer the rate gets to 12.5%.
In Italy, ETF capital gains are taxed at 26%. But the portion of the fund invested in Italian and «white-list» government bonds enjoys the reduced 12.5% rate. The effective rate is therefore a weighted average of the two, based on the share of government bonds the fund holds — a share each issuer certifies every semester as the average of the last two reports.
Amounts are purely illustrative: the computation applies this fund's effective rate. The same share applies to capital gains and distributions.
The effective rate on capital gains is 23.04%, computed from the 21.91% white-list share (12.5% on government bonds, 26% on the rest).
It is the percentage of the fund invested in Italian and cooperating-country («white-list») government bonds. On that portion the capital gain is taxed at 12.5% instead of 26%. The issuer certifies it every semester.
The share of the semester in which the SALE happens counts, not the purchase. The broker applies the withholding based on the issuer document valid in that semester.
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