WisdomTree AT1 CoCo Bond UCITS ETF USD (ticker: COGO.L) is an open-ended exchange-traded fund that seeks to track the performance, before fees and expenses, of the iBoxx Contingent Convertible Liquid Developed Europe AT1 Index. The ETF provides diversified exposure to Additional Tier 1 (AT1) contingent convertible bonds (CoCos) issued by developed European financial institutions in EUR, USD, and GBP; invests in liquid, credit-rated CoCos that meet WisdomTree's ESG criteria; and offers a unique yield, return, and risk profile through physical replication (optimized). It is UCITS compliant, distributing income quarterly with a total expense ratio of 0.39%, and is part of the WisdomTree Issuer ICAV umbrella fund domiciled in Ireland.
Launched on May 14, 2018, the ETF operates primarily in European markets, listing on exchanges including the London Stock Exchange, Borsa Italiana, and SIX Swiss Exchange, with availability in countries such as the UK, Germany, Italy, France, and Switzerland. WisdomTree Issuer ICAV, the legal vehicle established in 2011 (converted from PLC in 2020), serves as the fund umbrella under the sponsorship of WisdomTree, Inc., a New York-headquartered global ETF provider founded in 2005 (roots to 1985) with over 260 ETPs across equities, fixed income, commodities, and alternatives worldwide.
In recent developments, WisdomTree announced in July 2025 its acquisition of Ceres Partners, a U.S. farmland investment manager, marking entry into private asset markets and projected to drive over $750 million in organic AUM growth; the company also launched new UCITS ETFs in Europe, including the Europe Defence UCITS ETF and Uranium and Nuclear Energy UCITS ETF in March 2025. These strategic moves support WisdomTree's expansion in innovative ETPs, models, and tokenization amid record AUM inflows exceeding $6.5 billion through mid-2025. The AT1 CoCo ETF itself maintains stable operations with approximately 160 holdings focused on European bank capital instruments per Basel III standards.