+0.1%
£77.5B of assets in Government · 8 sub-categories · average OCF 0.59%.
How funds with Government exposure have returned on average.
Average 1Y return to October 2026 end, GBP net total return.
The headline is the average return of the funds, to October 2026 end. The chart follows the ten funds with most exposure, equal weighted, weekly points built from daily prices, to 30 Oct 2026. They measure different things, so the numbers differ.
Source: FE fundinfo. Past performance is not a reliable guide to future returns.
Composite of the 10 most exposed funds with 1Y of history, equal weight, GBP total return, NAV to 30 Oct 2026. 10 funds.
Funds in this line
The funds used in the chart above.
- Legal & General All Stocks Gilt Index Trust
- UBS Sustainable Development Bank Bonds UCITS ETF
- UBS Core BBG TIPS 1-10 UCITS ETF
- L&G Emerging Markets Government Bond (Local Currency) Index Fund
- Legal & General Emerging Markets Government Bond (Local Currency) Index Fund
- Legal & General All Stocks Index Linked Gilt Index Trust
- UBS Sustainable Development Bank Bonds 5-10
- UBS Sustainable Development Bank Bonds 1-5
- Bradesco Brazilian Fixed Income
- iShares Over 15 Years Gilts Index Fund (UK)
Funds
84
Monthly universe, as at October 2026.
Assets in Government (GBP)
£77.5B
Average portfolio share
47.0%
Weekly snapshot to 30 Oct 2026, among funds with this exposure.
Average ongoing charge
0.59%
Government exposure on Funds Benchmark gathers the funds that hold Government companies, with an average 1 year return of +0.1% to October 2026 and an average ongoing charge of 0.59%. Europe ex UK, North America and United Kingdom lead the region breakdown among them. Open any fund for its holdings, performance and allocation breakdown, or select a region below to filter the funds shown. Fund data is from FE fundinfo. Past performance is not a reliable guide to future returns.
Regional mix
What Government exposure is made of.
32.4%
Europe ex UK
- Europe ex UK32.4%
- North America21.9%
- United Kingdom20.4%
- Others25.3%
Europe ex UK is the largest at 32.4%. Mapped to a region: 95% of country exposure. Shares add up to 100% across the nine regions.
Regions inside this sector
Pick one to filter the funds and holdings below.
Japan
15 funds · 1.2% average portfolio share across Government funds
+3.0%
▲ Average 1Y return
Fewer than 5 funds with enough history
Middle East and Africa
17 funds · 3.1% average portfolio share across Government funds
+2.4%
▲ Average 1Y return
Greater China
11 funds · 0.7% average portfolio share across Government funds
+2.3%
▲ Average 1Y return
Fewer than 5 funds with enough history
Latin America
21 funds · 5.9% average portfolio share across Government funds
+2.1%
▲ Average 1Y return
Asia Pacific ex Japan and China
35 funds · 6.0% average portfolio share across Government funds
+1.4%
▲ Average 1Y return
United Kingdom
44 funds · 14.4% average portfolio share across Government funds
+1.0%
▲ Average 1Y return
Fund counts here are a separate set from the Funds figure above.
Dots: last Friday of each month, GBP total return, ten most exposed funds with the sub-category at 10% or more (at least five funds), equal weighted, against the whole category (small grey dots). Bars: average portfolio share, relative to the largest.
Largest Government funds
The biggest funds with this exposure, to open or compare.
1
DNCA Invest - Alpha BondsNatixis Investment Managers
▼ −2.4%
2
iShares UK Gilts All Stocks Index FundBlackRock
▼ −0.5%
3
1895 Euro Obligaties Index FondsBlackRock
▼ −7.5%
See all fundsA free account shows the full list.
Top Government funds by assets under management, one share class per fund.
Government holdings
Positions that appear most often among the ten largest holdings of these funds.
1
REPUBLICA ARGENTINA FRN 09/07/30 USD1
0.9%
2
REPUBLICA ARGENTINA FRN 09/07/35 USD1
1.1%
3
REPUBLICA ORIENTAL DEL URUGUAY 5.1% SNR UNSEC NTS 18/06/50 USD1
1.1%
See all holdingsA free account shows the full list.
Positions that appear most often among the ten largest holdings of the funds we list. Bar = average weight among the funds that have the position in their ten largest holdings.
All funds with Government exposure
Largest by size first, one share class per fund. Open any fund for its holdings, performance and allocation breakdown.
- DNCA Invest - Alpha Bonds I/A (EUR)
- Man Funds plc - Man Global Investment Grade Opportunities DY H EUR
- iShares UK Gilts All Stocks Index Fund (UK) Class L Acc
- Janus Henderson Tactical Income
- Janus Henderson Tactical Income Active ETF Dis AUD
- JPMorgan Funds - Aggregate Bond Fund (USD) A
- iShares Australian Bond Index
- 1895 Euro Obligaties Index Fonds D Inc EUR
- Vontobel Fund - TwentyFour Strategic Income Fund N
- Nordea 1, SICAV - European Covered Bond Fund - E - EUR
- Sparinvest SICAV - Procedo DKK LP I
- Sparinvest SICAV - Balance EUR R
- Nomura Funds Ireland - US High Yield Bond Fund Class AX USD
- DNB Fund-Norway Short Term Bonds - N (ACC) NOK
- JPMorgan Funds - Managed Reserves Fund (USD) C
- Nordea 1, SICAV - Low Duration European Covered Bond Fund - AP - EUR
- Fidelity Funds - US Dollar Bond Fund A-USD
- Nordea 1, SICAV - US Corporate Sustainable Stars Bond Fund - BP - USD
- iShares Overseas Government Bond Index Fund (UK) Class L Acc
- Vontobel Fund - TwentyFour Absolute Return Credit Fund I
- BNY Mellon Global Funds, plc - BNY Mellon Global Credit Fund SGD K (Inc.) (hedged)
- Eastspring Investments - US Corporate Bond Fund (SGD) ASDM (hedged)
- BlackRock Collective Investment Funds - iShares Over 15 Years Gilts Index Fund (UK) X Acc
- Legal & General All Stocks Gilt Index Trust F GBP Accumulation
- BlackRock Strategic Funds - BlackRock ESG Fixed Income Strategies Fund D2 EUR
- Zurich Managed G4 AL
- Schroder International Selection Fund - Multi-Asset Growth and Income A1 Accumulation USD
- Nordea 1, SICAV - European Corporate Sustainable Stars Bond Fund - BI - EUR
- Sparinvest SICAV - Long Danish Bonds EUR R
- Nordea 1, SICAV - Swedish Bond Fund - BP - SEK
- HSBC GLOBAL INVESTMENT FUNDS - GLOBAL EMERGING MARKETS LOCAL DEBT AC
- Amundi S.F. - Diversified Short-Term Bond Select E EUR Cap
- BlackRock Global Funds - Euro Short Duration Bond Fund Class A2 EUR
- LO Funds - Asia Value Bond, (USD) NA
- UBS Sustainable Development Bank Bonds UCITS ETF hEUR acc
- iShares VI plc - iShares J.P. Morgan $ EM Bond EUR Hedged UCITS ETF (Dist) EUR Hedged (Dist)
- Capital International Fund - Capital Group American Balanced Fund (LUX) Z
- 1895 Obligaties Opportunities Fonds D Inc EUR
- Rathbone Ethical Bond Fund I Acc
- Dimensional Funds plc - Global Core Fixed Income Fund (CHF, Acc.)
- abrdn SICAV I - Frontier Markets Bond Fund A MInc USD
- SPW Managed ICVC- SPW Global Government Low Duration Bond Fund Q Inc
- Capital International Fund - Capital Group Global Allocation Fund (LUX) A4
- UBS Core BBG TIPS 1-10 UCITS ETF hGBP acc
- AQR UCITS Funds - AQR Alternative Trends UCITS Fund IAU1 (USD) Acc
- BlackRock Global Funds - Euro Bond Fund Class A2 EUR
- MI TwentyFour Investment Funds - Dynamic Bond Fund I Income Shares
- Mercer Global Credit Fund M-1 EUR HEDGED
- Barings Emerging Markets Local Debt Fund Class F GBP Accumulating
- Nordea 1, SICAV - Norwegian Bond Fund - BP - EUR
- Man Fixed Interest ICVC - Man Sterling Corporate Bond Fund Institutional Income Shares (Class G)
- Invesco Fixed Interest Investment Series - Invesco Corporate Bond Fund (UK) (No Trail) (Inc)
- Legal & General ICAV - L&G Emerging Markets Government Bond (Local Currency) Index Fund I EUR Unhedged Accumulation
- Mirova Funds - Mirova Global Green Bond Fund I/A (EUR)
- BlackRock Collective Investment Funds - iShares Index Linked Gilt Index Fund (UK) X Acc
- HSBC GLOBAL INVESTMENT FUNDS - GLOBAL EMERGING MARKETS BOND PD
- JPMorgan Funds - Emerging Markets Aggregate Bond Fund (GBP) X
- UBS BBG EUR Agg Bond Index Fund EUR I-B acc
- iShares Green Bond Index Fund (IE) Class Flexible Acc Hedged
- UBS J.P. Morgan USD EM IG Screened Diversified Bond UCITS ETF hCHF acc
- Blackrock Collective Investment Funds - iShares Up to 10 Years Index Linked Gilt Index Fund D Acc GBP
- UBS J.P. Morgan Global Gov ESG Liquid Bond UCITS ETF Acc USD
- BlackRock Sterling Short Duration Credit Fund D Acc GBP
- HSBC Global Funds ICAV - Global Emerging Market Government Bond Index Fund S6QHEUR
- Legal & General Emerging Markets Government Bond (Local Currency) Index Fund L GBP Income
- UBS Sustainable Development Bank Bonds 5-10 Index Fund USD U-X acc
- Legal & General All Stocks Index Linked Gilt Index Trust I GBP Accumulation
- UBS Sustainable Development Bank Bonds 1-5 Index Fund USD U-X acc
- Swiss Life Funds (LUX) - Bond Emerging Markets Corporates IG EUR Hedged I Cap
- Goldman Sachs Green Bond Short Duration - I Dis USD (hedged i)
- UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hCHF acc
- Bradesco Brazilian Fixed Income R USD
- UBS J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF USD dis
- iShares VI plc - iShares J.P. Morgan $ EM Bond CHF Hedged UCITS ETF (Dist) USD Hedged (Dist)
- UBS BBG MSCI Global Green Bond Index Fund EUR I-A-SSP acc
- HSBC GLOBAL INVESTMENT FUNDS - GLOBAL EMERGING MARKETS ESG BOND AC
- Goldman Sachs ETF ICAV - Goldman Sachs Global Green Bond UCITS ETF CLASS EUR-HEDGED (Dist)
- UBS Global Green Bond ESG 1–10 UCITS ETF hEUR acc
- UBS SBI® Foreign AAA-BBB 5-10 ESG UCITS ETF CHF dis
- UBS J.P. Morgan EMU Gov ESG Liquid Bond UCITS ETF EUR acc
- UBS SBI® Foreign AAA-BBB 1-5 ESG UCITS ETF CHF dis
- iShares J.P. Morgan USD Emerging Markets Bond ETF
- WisdomTree Trust - WisdomTree Emerging Markets Local Debt Fund
- ALPS Smith Core Plus Bond ETF
- iShares TIPS Bond ETF