- Issuer
- iShares
- Inception Date
- May 26, 2023
- Category
- Government Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- iShares Italy Govt Bond UCITS ETF USD Hedged (Acc)
- Distribution Policy
- Accumulating
- Asset Class
- Bond
Share Price Chart
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Performance
ITEH.L Performance Chart
iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) (ITEH.L) is up 0.5% since the beginning of the year. ITEH.L is currently trading at $6 per share. Investors who bought $1,000 worth of ITEH.L shares 5 years ago would now be looking at an investment worth $1,046.
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Returns By Period
iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) (ITEH.L) has returned 0.48% so far this year and 3.10% over the past 12 months.
iShares Italy Govt Bond UCITS ETF USD Hedged (Acc)
- 1D
- 0.00%
- 1M
- -0.63%
- 6M
- -0.16%
- YTD
- 0.48%
- 1Y
- 3.10%
- 3Y*
- 6.11%
- 5Y*
- 0.91%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.38%
- 1M
- 0.24%
- 6M
- 9.32%
- YTD
- 10.62%
- 1Y
- 21.28%
- 3Y*
- 18.90%
- 5Y*
- 11.84%
- 10Y*
- 13.36%
ITEH.L Monthly Returns History
Based on dividend-adjusted daily data since Apr 19, 2018, ITEH.L's average daily return is +0.01%, while the average monthly return is +0.25%. At this rate, an investment would double in approximately 23.1 years.
Historically, 58% of months were positive and 42% were negative. The best month was Jun 2019 with a return of +3.9%, while the worst month was May 2018 at -5.9%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 7 months.
On a daily basis, ITEH.L closed higher 46% of trading days. The best single day was Mar 19, 2020 with a return of +3.1%, while the worst single day was May 29, 2018 at -4.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.79% | 1.26% | -2.96% | 0.64% | 1.44% | 0.63% | -1.25% | 0.48% | |||||
| 2025 | 0.17% | 0.83% | -1.49% | 2.35% | 0.66% | 0.49% | -0.00% | 0.00% | 0.65% | 1.61% | 0.00% | -0.16% | 5.18% |
| 2024 | 0.00% | -0.36% | 1.25% | -0.88% | 0.18% | -0.18% | 3.03% | 0.35% | 2.24% | -0.84% | 2.72% | -0.99% | 6.60% |
| 2023 | 2.91% | -1.28% | 2.46% | -0.09% | 0.97% | 0.64% | 0.19% | -0.94% | -1.71% | 0.77% | 3.64% | 3.70% | 11.65% |
| 2022 | -0.63% | -2.29% | -1.38% | -4.32% | -1.92% | -0.74% | 1.88% | -3.94% | -2.91% | 1.12% | 3.15% | -3.98% | -15.12% |
| 2021 | -0.63% | -0.81% | 0.67% | -1.44% | 0.17% | 0.61% | 1.45% | -0.47% | -0.74% | -1.38% | 1.44% | -1.33% | -2.50% |
Benchmark Metrics
iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) has an annualized alpha of 3.40%, beta of 0.05, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since April 19, 2018.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (16.28%) than losses (14.72%) - typical of diversified or defensive assets.
- Beta of 0.05 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.40%
- Beta
- 0.05
- R²
- 0.02
- Upside Capture
- 16.28%
- Downside Capture
- 14.72%
Expense Ratio
ITEH.L has an expense ratio of 0.22%, which is considered low.
Return for Risk
Risk / Return Rank
ITEH.L ranks 22 for risk / return — below 22% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) (ITEH.L) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ITEH.L | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.31 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 2.35 | -1.56 |
| Martin ratioReturn relative to average drawdown | 2.42 | 10.19 | -7.77 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Italy Govt Bond UCITS ETF USD Hedged (Acc). A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) was 19.30%, occurring on Sep 27, 2022. Recovery took 639 trading sessions.
The current iShares Italy Govt Bond UCITS ETF USD Hedged (Acc) drawdown is 1.56%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-19.30%Sep 2022 | 1y 1mo | 2y 8mo | 3y 9moAug 2021 - May 2025 | Bear market2022 |
-8.75%Mar 2020 | 1mo 2d | 4mo 7d | 5mo 9dFeb 2020 - Jul 2020 | COVID crash2020 |
-8.61%Oct 2018 | 5mo 4d | 4mo 20d | 9mo 24dMay 2018 - Mar 2019 | Rate-hike selloffLate 2018 |
-4.10%May 2021 | 3mo 4d | 2mo 20d | 5mo 24dFeb 2021 - Aug 2021 | — |
-3.89%Mar 2026 | 25d | — | 4mo 16dMar 2026 - now | — |
Drawdown Indicators
| ITEH.L | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.30% | -56.78% | +37.48% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -9.10% | +5.21% |
Max Drawdown (3Y)Largest decline over 3 years | -3.93% | -18.90% | +14.97% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -25.43% | +6.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.56% | -0.49% | -1.07% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -10.70% | +5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 2.09% | -0.81% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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