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BEL ETF · Amundi BEL 20 UCITS ETF
The BEL Exchange Traded Fund (ETF) is provided by Amundi. It is built to track an index: Brussels Stock Exchange BEL20 Private Return Closing Index. The BEL ETF provides physical exposure, so by buying it you actually own parts of all the 20 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update Today at 2:52 PM UTC
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This fund is part ofEurope Large and Mid Cap1M perf.-7.55%
Last price
€76.05
+0.41%
1M perf.
-9.08%
1M flows
-€7.7M
AuM
€62M
E/R
0.5%
Rating
ESG Consensus®
BEL
€76.05
+0.41%
Performance & flows
Segment for quartile rank
December 15, 2025 → March 13, 2026
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BEL
€75.66
+1.89%
Europe Large and Mid Cap
-1.48%
Historic performance and flows
| 1M | 3M | 1Y | 3Y | 5Y | MTD | QTD | YTD | ||
|---|---|---|---|---|---|---|---|---|---|
| Perf. | -9.08%  | +1.89%  | +19.02%  | +46.53% | +42.72% | -6.23% | +0.47% | +0.47% | |
| Flows |
Key fund info
Segment for quartile rank
Main characteristics
More details
NAV
3/13/2026
€75.65
1D NAV change
-0.77%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
20
Inception date
7/31/2002
Jurisdiction
France
Distribution
United Kingdom
France
Germany
Belgium
Legal structure
SICAV
Base currency
EUR
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Benchmark
Brussels Stock Exchange BEL20 Private Return Closing Index
Asset class
Factors
N/A
Investment strategy
The Amundi BEL 20 UCITS ETF is a UCITS compliant exchange traded fund that aims to track the benchmark index BEL 20 Net Return. The index tracks the performance the top 20 Belgian stocks. The index is a net total return index and, therefore, assumes that dividends paid by its constituents are reinvested in the index net of withholding taxes.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
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Risk profile
Segment for quartile rank
Historical risk/return profile
| 3M | 1Y | 3Y | 5Y | |
|---|---|---|---|---|
| Returns | +1.89% | +19.02% | +46.53% | +42.72% |
| Volatility | ||||
| Perf./Volatility | ||||
| Max drawdown |
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
1
2
3
4
5
6
7
PRIIPS
1
2
3
4
5
6
7
Built for professionals: access exclusive risk metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseExposure
Countries
Belgium
87.63%
Netherlands
12.37%
Sectors
Financials
28.11%
Health Care
26.39%
Consumer Staples
13.44%
Real Estate
9.93%
Industrials
5.58%
Materials
4.25%
Utilities
3.96%
Consumer Discretionary
3.25%
Unavailable
4.09%
Other
1.01%
Diversification
Total weight of top 15 holdings out of 20
Top 15 holdings
Data as of January 31, 2026
UCB
KBC GROEP
ARGEN X NV
ANHEUSER-BUSCH INBEV SA/NV
AGEAS(EX-FORTIS)
GROUPE BRUXELLES LAMBERT
ACKERMANS V.HAAR
BE0974464977
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ELIA SYSTEM OPERATOR
WDP-SICAFI REIT
D'IETEREN
LOTUS BAKERIES
UMICORE
SOFINA
AEDIFICA SA
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Built for professionals: access exclusive exposure metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseSustainability
Integrates ESG criteria
No
SDG
ESG Consensus® by Conser
Data as of December 31, 2025
MethodologyOur partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about BEL ETF's sustainability, based on their methodology.
ESG Consensus®
ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.
BEL’s has a Final Sustainability Grade of either C+, C, C-, or D.
A+
A
A-
B+
B
B-
C+
C
C-
D
This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight EnterpriseHoldings review
51.74% of holdings have positive scoring
48.25% of holdings have negative scoring
28.39%
19.21%
7.48%
30.33%
10.44%
Consensus levels
Strong
Medium
Weak
No data on remaining < 1% of holdings
Built for professionals: access exclusive sustainability metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseReplication
Trackinsight replication rating:
Replication quality
Calculated over 12m, as of February 27, 2026
Tracking error
Tracking difference
Replication information
Index
Brussels Stock Exchange BEL20 Private Return Closing Index - EUR
Index ticker
BELPRX Index
Index dividend policy
NTR
Replication method
Replication model
Built for professionals: access exclusive replication metrics in Trackinsight Enterprise.
Enterprise
Trackinsight Enterprise helps professional and institutional ETF investors tackle operational, regulatory, and analytical challenges at every stage of the investment process.
Learn more about Trackinsight EnterpriseIssuer
Amundi
Amundi ID Card
Number of funds
633
Total AuM
€361.51B
Expense ratio range
0.03% - 0.85%
Average expense ratio
0.2336%
Top 5 funds by Amundi
| AuM | ||
|---|---|---|
MEUDN | Amundi Core Stoxx Europe 600 UCITS ETF | €16.67B |
SP5L | Amundi Core S&P 500 Swap UCITS ETF | €13.05B |
MWRD | Amundi Core MSCI World UCITS ETF | €12.2B |
GOLD | AMUNDI PHYSICAL GOLD ETC | €12B |
WLD | Amundi MSCI World Swap II UCITS ETF | €7.69B |
Frequently asked questions about BEL
What does Amundi BEL 20 UCITS ETF, BEL, invest in?
BEL is a Passive ETF. This ETF provides exposure to Large Cap Belgian Equities.
Which benchmark or index does BEL replicate?
BEL tracks the Brussels Stock Exchange BEL20 Private Return Closing Index - EUR, through a full replication replication method.
What is the Total Expense ratio (TER) of BEL?
BEL carries a total expense ratio (TER) of 0.5%, indicating the annual cost for holding the fund.
When was BEL launched?
BEL was introduced to the market on July 31, 2002. It trades on United Kingdom, among other exchanges
Who is the ETF issuer of BEL?
Amundi BEL 20 UCITS ETF, BEL, is provided by Amundi. Learn more about Amundi here.
What is the current assets under management (AUM) of BEL?
BEL oversees €62M in assets as of March 13, 2026.
How has BEL performed lately?
Based on data from March 13, 2026, BEL returned -9.08% over the past month, 1.89% over the last three months and 0.47% year-to-date.
What are the latest inflows or outflows for BEL?
As of March 13, 2026, BEL recorded net flows of -€7.7M over the last month and -€4.8M year-to-date.
Does BEL distribute dividends?
BEL follows a distributing dividend policy, meaning it pays out income to investors. As of March 13, 2026, its 12-month trailing yield was 1.12%.
What are the main country or region exposures of BEL?
As of January 31, 2026, BEL has significant geographic allocations in Belgium and Netherlands.
In which sector or theme does BEL invest in?
As of January 31, 2026, BEL focuses largely on Financials, Health Care and Consumer Staples.
How many securities does BEL hold and how diversified is it?
As of January 31, 2026, BEL holds 20 positions in its portfolio, with 92.52% of assets concentrated in its top 15 holdings.
What are the main positions in BEL?
As of January 31, 2026, BEL top three holdings include UCB, KBC GROEP and ARGEN X NV.
What is the base currency of BEL?
The base currency of BEL is EUR.
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