How the Bold fund works
The Bold fund is a ready-made fund built and managed by the experts at Invesco – one of the world's biggest fund managers.
It invests in a range of Exchange Traded Funds (ETFs), which are essentially a basket of investments.
For example, the S&P 500 ETF is a basket of the 500 biggest companies in the US.
By investing in the Bold fund, your money is:
In short, the Bold fund combines different ETFs to create one globally diversified investment portfolio. Your money is invested in a fund that spreads it across companies, countries and industries around the world. It’s an easy and affordable way to spread your investment risk.
The Bold fund at a glance
Where your money goes
Shares (equities) - 86%
Investing in companies for long-term growth.
Bonds - 14%
Lending to companies and governments for stability.
The Bold fund invests a higher proportion of your money in shares. Shares usually experience more ups and downs than bonds and have historically delivered higher returns over the long term.
Hundreds of companies, one simple fund
The Bold fund doesn't just invest in one country, industry or type of investment. It spreads your money across global markets – combining shares and bonds, developed and emerging economies, and a wide range of industries.
This diversification helps reduce reliance on any single company, region or sector. While it doesn’t remove risk completely, diversification can help reduce reliance on any single company, region or sector.
As with all investments, the value can go down as well as up and you could get back less than you invest.
What shares does the Bold fund invest in?
Because your Bold fund invests mainly in shares, it allocates most (86%) of your money to companies around the world.
Investment | Weight |
Developed World Fund Invesco MSCI World Universal Screened UCITS ETF | 25.3% |
US Companies Fund Invesco MSCI USA Universal Screened UCITS ETF | 25.3% |
UK Companies Fund Invesco FTSE All Share Screened & Tilted UCITS ETF | 14.3% |
Emerging Markets Fund Invesco MSCI Emerging Markets Universal Screened UCITS ETF | 10.8% |
Europe (ex-UK) Companies Fund Invesco MSCI Europe (ex-UK) Universal Screened UCITS ETF | 6.1% |
Japan Companies Fund Invesco MSCI Japan Universal Screened UCITS ETF | 3.1% |
Developed Asia (ex-Japan) Fund Invesco MSCI Pacific (ex-Japan) Universal Screened UCITS ETF | 1.6% |
These allocations are accurate as of January 2026. Fund holdings can change over time. We update this page periodically in line with the latest diversification data from Invesco.
What bonds does the Bold fund invest in?
The Bold fund invests 14% of your money into bonds. Bonds are essentially loans to governments or companies. They tend to have fewer ups and downs than shares, providing some stability.
Investment | Weight |
UK Corporate Bonds Invesco GBP Corporate Bond Screened & Tilted UCITS ETF | 4.0% |
Global High Yield Bonds Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF | 3.2% |
UK Government Bonds Invesco UK Gilts UCITS ETF | 1.3% |
European Corporate Bonds Invesco EUR IG Corporate Bond ESG Climate Transition UCITS ETF | 1.3% |
US Corporate Bonds Invesco USD IG Corporate Bond ESG Climate Transition UCITS ETF | 1.3% |
Euro Government Bonds Invesco Euro Government Bond UCITS ETF | 0.9% |
US Government Bonds Invesco US Treasury Bond UCITS ETF | 0.7% |
US Government Bonds (1 - 3 Year) Invesco US Treasury 1 - 3 Year UCITS ETF | 0.4% |
UK Government Bonds (1 -5 Year) Invesco UK Gilt 1 - 5 Year UCITS ETF | 0.4% |
Cash | 0.2% |
What countries does the Bold fund invest in?
The Bold fund spreads your money across the world – so your investments aren't relying on just one country or region performing well.
Country | Weighting |
United States | 43.6% |
United Kingdom | 24.4% |
France | 4.6% |
Japan | 3.3% |
Germany | 3.3% |
Italy | 2.2% |
Spain | 2.1% |
Netherlands | 1.8% |
Australia | 1.6% |
China | 1.4% |
What industries does the Bold fund invest in?
The Bold fund spreads your money across a range of industries. That means, if one sector experiences a downturn, others may perform well.
For example, during Covid, industries like airlines and restaurants performed pooly, while others, like video communication and health care, performed well.
Spreading your money across different industries helps minimise your investment risk.
Sector | What this includes | Weight |
Financials | Banks and insurance | 22.7% |
Information Technology | Software and semiconductors | 20.5% |
Industrials | Manufacturing and infrastructure | 9.4% |
Health Care | Medical and pharmaceutical companies | 9.1% |
Consumer Discretionary | Non-essential goods and services | 8.8% |
Communication Services | Telecoms and media | 7.2% |
Consumer Staples | Essential consumer goods | 6.0% |
Materials | Raw materials | 3.7% |
Energy | Energy production companies | 2.7% |
Real Estate | Property companies | 2.5% |
Utilities | Electricity and water providers | 2.4% |
Cash & equivalents | Short-term holdings | 0.5% |
What type of companies does the Bold fund invest in?
This is the top 8 companies that the Bold fund invests is (calculated as a percentage of your investment).
Company | What it does | Bold Weight |
Nvidia | Semiconductor and AI technology | 2.5% |
Apple | Consumer technology | 2.1% |
Broadcom | Semiconductor | 1.8% |
Amazon | Retail and cloud computing | 1.4% |
Microsoft | Software and cloud services | 1.4% |
Alphabet | Google parent company | 1.2% |
Alphabet (Class C) | Second listed share class | 1.0% |
GSK | Pharmaceutical company | 0.9% |
Rooted in sustainability
The Bold fund aims to invest at least 80% of your money in line with environmental, social and governance (ESG) criteria.
This includes avoiding certain industries, such as weapons and tobacco, and favouring companies with stronger ESG credentials or those improving over time.
Not every investment will score highly across all three areas. For example, a company operating in a higher-emissions sector may still be included if it performs strongly on social or governance measures.
You can find more information in your Sustainability Document, which can be found in the ‘Manage’ section of your investment dashboard in the Zopa app.
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