ETF (UCITS compliant)

L&G ESG USD Corporate Bond UCITS ETF

Fund facts

Fund size*
Base currency
Listing date
21 Jan 2021
Index ticker
Replication method
Physical - optimised


*As at 23 Sep 2022

Fund aim

The L&G ESG USD Corporate Bond UCITS ETF (the "ETF") aims to track the performance of the J.P. Morgan Global Credit Index (GCI) ESG Investment Grade USD Custom Maturity Index (the “Index”).

  • The L&G ESG USD Corporate Bond UCITS ETF aims to provide exposure to US Dollar-denominated investment grade corporate bonds issued by developed market issuers.
  • Does it promote sustainability characteristics? The Fund promotes a range of environmental and social characteristics which are met by tracking the Index. Further information on how such characteristics are met by the Fund can be found in the Fund Supplement.

Further details

Charges and tax

ISA eligible
SIPP eligible
UK Fund Reporting Status

Management / administration

Legal & General UCITS ETF Plc
Depositary and Trustee
The Bank of New York Mellon SA/NV, Dublin Branch
Securities regulator
Central Bank of Ireland

Country registration

This share class is registered for sale in the following countries:


ExchangeCurrencyTickerListing dateISINBloomberg codeReuters codeTrading hours (local)
London Stock ExchangeGBPUSDG21/01/2021IE00BLRPRD67USDG LNUSDG.L08:00 - 16:30
London Stock ExchangeUSDUSDC21/01/2021IE00BLRPRD67USDC LNUSDC.L08:00 - 16:30
Borsa ItalianaEURUSDC21/01/2021IE00BLRPRD67USDC IMUSDC.MI09:00 - 17:30
Deutsche Börse XetraEURUSAB21/01/2021IE00BLRPRD67USAB GYUSABG.DE09:00 - 17:30
SIX Swiss ExchangeCHFUSDC04/05/2021IE00BLRPRD67USDC SWUSDC.S09:00 - 17:30


Source: Lipper.

Performance (%)
Select period:

    Performance summary (%)

    As at 31 May 2022

    1 month0.780.78
    6 months-10.76-10.78
    Year to date-10.55-10.62
    3 years--
    5 years--
    Since launch-10.99-10.84
    1 year-9.42-9.38
    3 years--
    5 years--
    Since launch-8.18-8.06

    As at 30 Jun 2022

    Year to date-12.73-12.69
    3 years--
    5 years--
    Since launch-13.15-12.91
    1 year-12.80-12.70
    3 years--
    5 years--
    Since launch-9.29-9.11
    Rolling 12-month performance
    Calendar year performance
    Monthly performance
    Annualised performance

    Rolling 12-month performance to last quarter end (%)

    12 months to 31 March 2018 2019 2020 2021 2022

    Calendar year performance (%)

    2017 2018 2019 2020 2021

    Monthly performance (%)

    Annualised performance (%)

    1 year3 years5 yearsSince launch

    Annualised performance (%)

    1 year3 years5 yearsSince launch

    Performance for the USD Distributing ETF class in USD, listed on 21 January 2021. Source: Lipper. Performance assumes all ETF charges have been taken and that all income generated by the investments, after deduction of tax, remains in the ETF.

    Past performance is not a guide to the future.


    As at 31 May 2022. All data source LGIM unless otherwise stated. Totals may not sum to 100% due to rounding.

    The breakdowns below relate to the Index. The ETF’s portfolio may deviate from the below.

    Currency (%)


    Years to maturity (%)

    0 - 5 Years46.5
    5 - 10 Years25.7
    10 - 15 Years3.1
    15 - 20 Years6.9
    20 - 25 Years7.1
    25 - 30 Years9.2
    30 - 40 Years1.4
    40+ Years0.2

    Credit rating (%)


    Country (%)

    United States73.5
    United Kingdom5.6
    Top 10 holdings3.1
    Rest of portfolio96.9
    No. of holdings in ETF1,025
    No. of constituents in Index5,831

    Top 10 holdings (%)

    Top 10 holdings (%)

    Broadcom 4.926% 15 May 370.4
    SMTB 2.55% 10 Mar 250.4
    Credit Suisse AG/NY 1% 05 May 230.3
    Credit Suisse Group 3.75% 26 Mar 250.3
    Siemens Fin 3.4% 16 Mar 270.3
    Santos Finance 5.25% 13 Mar 290.3
    Aus Bank/New York 2.875% 12 Apr 230.3
    Coop Rabobank UA 2.625% 22 Jul 240.3
    Man & Traders Trust 3.4% 17 Aug 270.3
    Principal Life 3% 18 Apr 260.3


    Latest dividends


    Dividend history

    Total dividends paid in each financial year of the fund.

    Investment Manager

    The Index Fund Management team comprises 25 fund managers, supported by two analysts. Management oversight is provided by the Global Head of Index Funds. The team has average industry experience of 15 years, of which seven years has been at LGIM, and is focused on achieving the equally important objectives of close tracking and maximising returns.

    LGIMIndex Fund Management Team


    Sustainability disclosures

    The Sustainable Finance Disclosure Regulation (SFDR) is an EU regulation that came into force on 10 March 2021, and imposes disclosure requirements for EU financial products. These requirements include disclosing sustainability-related information for funds that (i) promote (among other characteristics) environmental or social characteristics (Article 8 products), or (ii) have a sustainable investment objective (Article 9 products), both as defined under SFDR.

    SFDR categorisation: Article 8Article 8: These funds promote environmental and/or social characteristics

    The EU Taxonomy Regulation (EU Taxonomy) sets out a classification system in respect of environmentally sustainable economic activities. EU Taxonomy covers six environmental objectives, ranging from climate change mitigation to protection and restoration of biodiversity, with technical screening criteria to determine whether certain economic activities supports these objectives. EU Taxonomy recognises these economic activities as green, or “environmentally sustainable” if they make a substantial contribution to at least one of the environmental objectives, while at the same time not significantly harming any of these objectives and meeting minimum social safeguards. EU Taxonomy came into force on 1 January 2022 for the first two, climate-related, environmental objectives. EU Taxonomy also amends the disclosure obligations under SFDR to extend the information to be disclosed for Article 9 products and Article 8 products with an environmental focus. You will find the relevant disclosures under the ‘Pre-contractual disclosure’ tab.

    The Fund promotes a range of environmental and social characteristics as described below. These are met by tracking the Index which applies:

    Net zero framework
    Stock selection
    Carbon intensity
    Future World Protection List
    Climate Impact Pledge

    Issuers are excluded from the index based on the below criteria, as determined by J.P. Morgan:

    • Issuers with revenue from the Thermal Coal sector
    • Issuers not in compliance with UN Global Compact principles
    • Issuers with J.P. Morgan ESG (JESG) scores less than 20 are not eligible for index re-inclusion for 12 months
    • Issuers associated to tobacco or weapons industries are also excluded

    The Index applies JESG issuer scores to adjust the market value of index constituents from the baseline J.P. Morgan Global Credit Index (GCI) Investment Grade USD Custom maturity Index. JESG issuer scores are a 0-100 percentile rank calculated based on normalized raw ESG scores from third-party research providers including Sustainalytics and RepRisk. An issuer’s finalized JESG score incorporates a 3-month rolling average. Quasi-Sovereign issuers with no coverage from either third-party research provider default to their sovereign JESG score. The JESG scores are divided into five bands that are used to scale each issue’s baseline index market value, with the band rebalance occurring on a quarterly basis.

    JESG Score Bands                 Scalar

    Band 1: Score > 80                 1.00

    Band 2: 60 < Score <= 80      0.80

    Band 3: 40 < Score <= 60      0.60

    Band 4: 20 < Score <= 40      0.40

    Band 5: Score <= 20              0.00

    Issuers in Band 5 will be excluded from the index and will not be eligible for twelve months. If an instrument is categorized as a “green bond” by the Climate Bonds Initiative, the security will receive a one-band upgrade. Green bonds upgrades may happen intra quarter. Green bonds by issuers already in Band 1 will not receive any further upgrades.

    Green bonds are bonds which are created to fund projects that have positive environmental and/or climate benefits.

    Paris-aligned benchmark optimisation
    ESG integration
    UN SDG alignment

    The Index Provider, J.P. Morgan, determines the constituents of the Index. The Index Provider uses external data sources.

    Further information on the index methodology can be found at:

    Courtesy of J.P. Morgan Securities LLC, Copyright 2021.

    The above information in respect of the Index has been derived by us from methodologies, statements and disclosures of the index provider for purposes of satisfying our disclosure requirements under SFDR. The information is, therefore, not the property of LGIM and is provided “as is” and “as available”. We seek to ensure the information in respect of the Index is up to date, however there is no guarantee or representations made as to the accuracy or completeness of the information at all times. On that basis, and to the maximum extent permitted by law, no liability is accepted by us in respect of this information.

    A description of the extent to which the environmental and social characteristics are met will likely be made available as part of the annual report published in 2022 as required by SFDR. The Fund’s most recent annual report does not include any information pursuant to SFDR.

    Pre-contractual disclosure

    SFDR Disclosure

    The Fund promotes a range of environmental and social characteristics. The characteristics promoted by the Fund are met by tracking an Index which includes the following features: (i) exclusion of issuers with revenue from thermal coal and UN Global Compact violators, as determined by the index provider’s methodology, (ii) a tilt towards issuers ranked higher on ESG criteria and green bond issues and (iii) underweighting and exclusion of lower ranking issuers. The Index is consistent with the environmental and social characteristics of the fund by providing exposure to such securities of issuers in accordance with the index methodology as set out in the “Index description” section below.

    The Manager aims to ensure that the issuers of investments in which the Fund is invested follow good governance practices. This is achieved by 1) setting expectations with the issuers' management with regard to good governance practices; 2) active engagement with the issuers; and 3) supporting policymakers and legislators to ensure a strong regulatory environment and standards. Active engagement with the issuers is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process. Regular reporting on the outcomes of active engagement can be made available on request or can be found at:

    EU Taxonomy Disclosure

    While the Fund promotes environmental and social characteristics within the meaning of Article 8 of the SFDR, it does not currently commit to investing in “sustainable investments” within the meaning of the SFDR.  Accordingly, it should be noted that the investments underlying this Fund do not take into account the EU criteria for environmentally sustainable economic activities within the meaning of the Regulation (EU) 2020/852 (the “Taxonomy Regulation") and, as such, the Fund’s portfolio alignment with the Taxonomy Regulation is not calculated.

    Governance practices

    The ways in which we ensure that investee companies follow good governance practices are set out below.

    Setting expectations

    A number of policies and processes guide the engagement activities, set out the approach to investment stewardship, and outline the expectations of investee issuers. The Global Corporate Governance and Responsible Investment Principles set out the approach and expectations with respect to key topics that are essential for an efficient governance framework, and for building a sustainable business model. We expect all issuers on a global scale to closely align with our principles which set out the fundamentals of corporate governance. We also take into account market specificities and take a tailored approach to voting on some topics in various markets. Further related policies can be found on the Investment Stewardship section of the LGIM website.

    Active engagement

    Active engagement with the issuers is used as a tool to drive progress and influence positive change and is conducted independently and in collaboration with industry peers and broader stakeholders. Engagement activities normally focus on specific material ESG issues and involve formulating an engagement strategy with regard to such issues with the aim to track and review the progress of the issuers during this process.

    Supporting policymakers and legislators

    LGIM's Investment Stewardship team actively engages with policy makers and legislators to ensure there is strong regulation and standards in regards to governance practices.



    USD Dist
    Price time
    16:00 EST (NY)

    Key risks

    The value of an investment and any income taken from it is not guaranteed and can go down as well as up. You may not get back the amount you originally invested.

    Past performance is not a guide to the future.

    For more information, please refer to the key investor information document.

    Important information

    In the United Kingdom and outside the European Economic Area, it is issued by Legal & General Investment Management Limited, authorised and regulated by the Financial Conduct Authority, No. 119272. Registered in England and Wales No. 02091894 with registered office at One Coleman Street, London, EC2R 5AA.

    In the European Economic Area, it is issued by LGIM Managers (Europe) Limited, authorised by the Central Bank of Ireland as a UCITS management company (pursuant to European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. No. 352 of 2011), as amended) and as an alternative investment fund manager with “top up” permissions which enable the firm to carry out certain additional MiFID investment services (pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (S.I. No. 257 of 2013), as amended). Registered in Ireland with the Companies Registration Office (No. 609677). Registered Office: 70 Sir John Rogerson’s Quay, Dublin, 2, Ireland. Regulated by the Central Bank of Ireland (No. C173733).

    LGIM Managers (Europe) Limited operates a branch network in the European Economic Area, which is subject to supervision by the Central Bank of Ireland. In Italy, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Commissione Nazionale per le società e la Borsa (“CONSOB”) and is registered with Banca d’Italia (no. 23978.0) with registered office at Via Uberto Visconti di Modrone, 15, 20122 Milan, (Companies’ Register no. MI - 2557936). In Germany, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the German Federal Financial Supervisory Authority (“BaFin”). In the Netherlands, the branch office of LGIM Managers (Europe) Limited is subject to limited supervision by the Dutch Authority for the Financial Markets (“AFM“) and it is included in the register held by the AFM and registered with the trade register of the Chamber of Commerce under number 74481231. Details about the full extent of our relevant authorisations and permissions are available from us upon request.

    We are a member of the Irish Funds Association.

    All features described on this website are those current at the time of publication and may be changed in the future. Nothing on this website should be construed as advice and it is therefore not a recommendation to buy or sell securities. If in doubt about the suitability of this product, you should seek professional advice. Copies of the prospectus, key investor information document, annual and semi-annual reports & accounts are available free of charge on request or at

    This website is only directed at investors resident in jurisdictions where our funds are registered for sale. It is not an offer or invitation to persons outside of those jurisdictions. We reserve the right to reject any applications from outside of such jurisdictions.

    Source and third party data

    Source: Unless otherwise indicated all data contained on this website is sourced from Legal & General Investment Management Limited.

    Where this document contains third party data ('Third Party Data’), we cannot guarantee the accuracy, completeness or reliability of such Third Party Data and accept no responsibility or liability whatsoever in respect of such Third Party Data

    Index disclaimer

    Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright 2021, J.P. Morgan Chase & Co. All rights reserved.