Utilities · Shares inside your ETFs
National Grid in your ETF: how much you own, and the share price
National Grid is a small slice of a FTSE 100 ETF but one of the biggest holdings in a European utilities ETF. Here’s its share price, how it has done over 10 years, what its 2024 rights issue meant for shareholders, and how much of it sits inside the ETFs UK investors can buy.
By The Off-Duty Economist Last reviewed Fund holdings to 13 October 2026
The short version
- National Grid was about 2.3% of an iShares FTSE 100 ETF on 13 October 2026, just outside its 10 largest holdings. So £1,000 in a FTSE 100 ETF puts about £23 into National Grid.
- European utilities ETFs hold the most, about 11.6%. World utilities ETFs hold about 3.6%.
- In 2024 it raised about £7 billion from its shareholders in a rights issue.
- Over the 10 years to March 2026, £100 in National Grid grew to about £245 with dividends reinvested, against about £243 in the FTSE 100.
Part of Shares inside your ETFs, which covers one company from each of the 11 stock market sectors. New to funds? Start with what an ETF is.
- 2.3%of an iShares FTSE 100 ETF is National Grid (13 October 2026)
- £7bnraised from shareholders in its 2024 rights issue
- £245what £100 in National Grid in March 2016 was worth in March 2026, dividends reinvested
National Grid's share price today
National Grid’s shares trade on the London Stock Exchange under the ticker NG. (with a full stop), so the price is in pence.
National Grid (NG.) live share price
The live chart comes from TradingView. It only loads if you ask for it, because TradingView may set cookies on your device. How this works
Your choice is remembered on this device. Prices are in pence (GBX).
Which ETFs hold National Grid?
Every fund that tracks the UK stock market holds National Grid, and so do utilities and infrastructure funds. The table shows eight ETFs that UK investors can buy on the London Stock Exchange, with National Grid’s share of each.
It’s a list of which funds hold National Grid and how much, not a list of funds to buy. Each fund’s name links to its full profile.
| Fund | What it tracks | London tickers | National Grid's share | National Grid in every £1,000 | Yearly charge | Fund size |
|---|---|---|---|---|---|---|
| State Street SPDR MSCI Europe Utilities UCITS ETF | Utilities in the MSCI Europe (developed Europe, UK included) | UTIL | 11.59% | £116 | 0.18% | £528m |
| Xtrackers MSCI Europe Utilities UCITS ETF 1C | Utilities in the MSCI Europe (developed Europe, UK included) | XS6R | 11.56% | £116 | 0.17% | £76m |
| State Street SPDR MSCI World Utilities UCITS ETF | Utilities in the MSCI World | WUTI | 3.59% | £36 | 0.30% | £61m |
| iShares UK Dividend UCITS ETF | FTSE UK Dividend+ (about 50 high-yielding UK companies) | IUKD | 3.59% | £36 | 0.40% | £1.3bn |
| Xtrackers MSCI World Utilities UCITS ETF 1C | Utilities in the MSCI World | XWUS / XDWU | 3.58% | £36 | 0.25% | £676m |
| iShares Global Infrastructure UCITS ETF | FTSE Global Core Infrastructure | INFR / IDIN | 2.45% | £24 | 0.65% | £1.9bn |
| iShares Core FTSE 100 UCITS ETF (Dist) | FTSE 100 | ISF | 2.32% | £23 | 0.07% | £16.2bn |
| Vanguard FTSE 100 UCITS ETF (GBP) Distributing | FTSE 100 | VUKE | 2.22% | £22 | 0.09% | £4.6bn |
Holdings are as at 31 August 2026, except the three iShares funds, which are from iShares’ full holdings lists on 13 October 2026, and Vanguard FTSE 100, from Vanguard’s portfolio data at 31 August 2026. The SPDR Europe Utilities fund trades in euros in London and the SPDR World Utilities fund in US dollars. Fund sizes are in pounds. Where a fund has two London tickers, the first is priced in pounds or pence and the second in US dollars.
National Grid is over a tenth of a European utilities ETF, but just over 2% of a FTSE 100 ETF
National Grid's share of each fund's holdings
- Utilities funds
- UK index and dividend funds
- Global infrastructure fund
Source: fund holdings from justETF, plus fund providers' full holdings lists where shown in the sources, consulted 14 October 2026. Holdings as at 31 August 2026 (13 October for the three iShares funds). Weights change every day. Chart: Invest in ETFs.
Show the data
| Fund (ticker) | National Grid's share | In every £1,000 | Holdings as at |
|---|---|---|---|
| SPDR Europe Utilities (UTIL) | 11.59% | £116 | 31 Aug 2026 |
| Xtrackers Europe Utilities (XS6R) | 11.56% | £116 | 31 Aug 2026 |
| SPDR World Utilities (WUTI) | 3.59% | £36 | 31 Aug 2026 |
| iShares UK Dividend (IUKD) | 3.59% | £36 | 13 Oct 2026 |
| Xtrackers World Utilities (XWUS) | 3.58% | £36 | 31 Aug 2026 |
| iShares Global Infrastructure (INFR) | 2.45% | £24 | 13 Oct 2026 |
| iShares Core FTSE 100 (ISF) | 2.32% | £23 | 13 Oct 2026 |
| Vanguard FTSE 100 (VUKE) | 2.22% | £22 | 31 Aug 2026 |
A European utilities fund holds only about 25 companies, so National Grid, one of the largest, is a big slice of it. A world utilities fund holds about 75, and a FTSE 100 ETF about 100 across every sector.
National Grid's 10-year return
National Grid’s 2025/26 annual report compares its total shareholder return, with dividends reinvested, with the FTSE 100 over the 10 years to 31 March 2026.
£100 in National Grid in March 2016 grew to about £245 by March 2026, level with the FTSE 100
Value at each 31 March of £100 invested on 31 March 2016, with dividends reinvested (total shareholder return): National Grid against the FTSE 100 Index
- National Grid
- FTSE 100 Index
Source: National Grid plc, Annual Report and Accounts 2025/26 (Form 20-F, filed 3 June 2026), People & Remuneration Committee report, printed page 118: 10-year total shareholder return against the FTSE 100 Index since 31 March 2016, values as labelled on National Grid's graph. Chart: Invest in ETFs.
Show the data
| Period | National Grid | FTSE 100 Index | Source |
|---|---|---|---|
| 31 March 2016 to 31 March 2017 | £107.18 | £124.42 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2018 | £86.93 | £124.57 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2019 | £103.79 | £132.32 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2020 | £117.70 | £110.34 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2021 | £112.12 | £132.97 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2022 | £157.96 | £150.02 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2023 | £154.46 | £162.36 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2024 | £163.09 | £172.45 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2025 | £173.00 | £198.93 | National Grid Annual Report 2025/26 |
| 31 March 2016 to 31 March 2026 | £244.66 | £243.10 | National Grid Annual Report 2025/26 |
Over the whole 10 years the two ended up almost level: National Grid’s return was 145% and the FTSE 100’s 143%, by National Grid’s figures. The path was very different, though. National Grid was behind the index at seven of the ten year ends, and drew level only in the final year, when £100 invested in 2016 went from about £173 to about £245. Past returns don’t tell you what will happen next.
The 2024 rights issue
A rights issue is a way for a listed company to raise money by selling new shares to its existing shareholders, in proportion to what they already own. In May 2024 National Grid announced a rights issue to raise about £7.0 billion: 7 new shares for every 24 held, at 645p each. The price was a 34.7% discount to what National Grid calculated the shares would be worth after the issue.
Shareholders who took up their rights kept the same percentage of the company. Those who sold their rights, or let them lapse, were diluted, as National Grid’s own guide to the rights issue explained. Holders took up about 91% of the new shares, the rest were placed with investors at 835p, and the new shares began trading on 12 June 2024. National Grid says it raised £6,839 million after expenses and calls it one of the largest rights issues ever by a UK listed company.
Because the issue added shares, National Grid restated its 2023/24 dividend per share from 58.52p to 45.26p to take account of them. If you held National Grid through an ETF, the fund manager dealt with the rights issue: there was nothing for you to decide.
National Grid and the Utilities sector
Utilities covers electricity, gas and water companies, independent power producers and renewable electricity generators. It was 4.5% of a FTSE 100 ETF on 13 October 2026, against 2.3% of a world ETF and 2.0% of an S&P 500 ETF, using GICS sectors.
National Grid is one company in our series picking one share from each of the 11 stock market sectors. See all 11 sectors and what each one covers.
National Grid shares or an ETF that holds National Grid?
You can own National Grid directly, by buying its shares, or indirectly, through a fund. Here’s how the two compare for a UK investor, using a FTSE 100 ETF as the example.
| National Grid shares | A FTSE 100 ETF | |
|---|---|---|
| What you own | Part of one company | Part of about 100 UK companies, with National Grid about 2% |
| If National Grid's shares fell by a fifth | Your holding falls by a fifth | National Grid's fall alone takes about 0.5% off the fund |
| Where it trades | London Stock Exchange, in pence | London Stock Exchange, in pounds or pence |
| Stamp duty | 0.5% stamp duty reserve tax when you buy UK shares electronically | None on ETFs (what an ETF costs) |
| Rights issues and other company events | You decide what to do, and may need to pay in more money to avoid being diluted | The fund manager deals with them |
| In a stocks and shares ISA | Yes | Yes |
| Yearly cost of holding | No fund charge; platform fees may apply | From 0.07% a year, plus platform fees |
Common questions
- What was National Grid’s 2024 rights issue?
- A sale of new shares to existing shareholders to raise about £7 billion: 7 new shares for every 24 held, at 645p each. The new shares began trading on 12 June 2024.
- Why did National Grid’s dividend per share change in 2024?
- The rights issue added more than a billion new shares, so National Grid restated its 2023/24 dividend per share from 58.52p to 45.26p to take account of them.
- Is National Grid in the FTSE 100’s top 10?
- Not quite. It ranked 11th in the iShares Core FTSE 100 ETF on 13 October 2026, at 2.32%, and 14th in the Vanguard FTSE 100 ETF at the end of August.
- Which ETFs hold the most National Grid?
- Of the funds above, the European utilities funds: about 11.6% at the end of August 2026. World utilities funds and a UK dividend fund hold about 3.6%, and a FTSE 100 fund about 2.2% to 2.3%.
- Can National Grid shares go in an ISA?
- Yes. Shares count for a stocks and shares ISA if they’re officially listed on a recognised stock exchange, and the London Stock Exchange is one. The ETFs in the table can go in an ISA too.
Before you rely on this page
Sources
- justETF fund profiles for the funds in the table, linked from each fund's name. Consulted 14 October 2026; holdings as at the dates given. Plus iShares' full holdings lists for the Core FTSE 100, UK Dividend and Global Infrastructure ETFs (13 October 2026) and Vanguard's portfolio data for its FTSE 100 ETF (31 August 2026).
- National Grid plc, rights issue announcement (23 May 2024), results of rights issue and results of rump placing (12 June 2024), and its rights issue guide
- National Grid plc, Annual Report and Accounts 2024/25 (rights issue proceeds, restated dividend) and 2025/26 (10-year total shareholder return), filed with the US Securities and Exchange Commission
- London Stock Exchange, National Grid plc company page, 14 October 2026
- Sector weights of the iShares Core S&P 500, Core MSCI World and Core FTSE 100 ETFs, BlackRock, as of 13 October 2026
- HM Revenue & Customs, stocks and shares investments for ISA managers; GOV.UK, tax when you buy shares
Sources checked 14 October 2026. Live prices from TradingView.