Which UK-listed distributing ETF has the lowest ongoing charge in each part of a portfolio? This cheat sheet shows the cheapest options we track across nine categories, from global equities to gilts and high yield bonds.
What does distributing mean?
A distributing ETF pays out any dividends or interest it receives in cash rather than reinvesting them for you. The cash lands in your account (or your platform’s cash balance) so you decide what to do with it, rather than the value being added automatically to your holding. An accumulating ETF reinvests it instead. This sheet covers distributing funds only. Naming varies by fund provider: some call it income or Inc, others distributing.
How we built the sheet
- Only plain GBP-denominated ETFs listed in London, with no currency-hedged share classes.
- Within each category, funds are ranked by ongoing charge, lowest first, and the cheapest three are shown.
- Unlike the accumulating version of this sheet, the ninth category here is High Yield Corporate Bonds rather than Commodities, since the commodity trackers we track are accumulating-only and wouldn’t qualify for a distributing sheet.
- Data is from PensionCraft’s cheapest fund list and was last updated on 30 September 2026. Fees change, so check the fund provider’s own page before you act on anything here.
The lowest-fee fund in each category
As of 30 September 2026.
| Category | Ticker | Fund | Ongoing charge |
|---|---|---|---|
| Global Equity | PACW | Amundi Prime All Country World | 0.07% |
| Developed Market Equity | MWOZ | Amundi Prime Global | 0.05% |
| Emerging Market Equity | E127 | Amundi Core MSCI Emerging Markets Swap | 0.14% |
| European Equity | PRIE | Amundi Prime Europe DR | 0.05% |
| US Stocks | MSCU | Amundi Core MSCI USA | 0.03% |
| Small Cap Equity | WSCR | UBS MSCI World Small Cap Socially Responsible | 0.23% |
| Gilts | GIL5 | Amundi UK Government Bond 0-5Y | 0.05% |
| Money Market (Cash) | XSTR | Xtrackers II GBP Overnight Rate Swap 1D | 0.10% |
| High Yield Corporate Bonds | FHYP | Fidelity Global High Yield Corporate Bond Research Enhanced PAB | 0.35% |
In US Stocks, two funds tie at 0.03% (MSCU and UC13). In Gilts, two funds tie at 0.05% (GIL5 and GILS). In High Yield Corporate Bonds, two funds tie at 0.35% (FHYP and JHYP). The full graphic above shows the next cheapest fund in each of those categories as well.
Cheapest is not the same as best
A low ongoing charge is one thing to compare, not the only thing. Two funds tracking the same index can still differ in how closely they follow it, how large they are, how they are built (physical or swap-based) and which index they track in the first place. Read each fund’s key investor document before you decide anything.
Educational content only. This is not financial advice or a recommendation to buy, sell, or hold any investment.
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