iShares J.P. Morgan EM Local Govt Bond UCITS ETF
iShares J.P. Morgan EM Local Govt Bond UCITS ETF (LSE: IEML) is an exchange-traded fund listed on the London Stock Exchange ETF segment, trading at $44.03 (about ₹4,143 a unit) as of 13 Nov 2026, 11:35 AM ET. It has an expense ratio of 0.5% and holds 357 securities. Indian residents can buy IEML through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$43.94
Today's high
$44.44
52 week low
$43.94
52 week high
$49.79
IEML opened at $44.44, closed previously at $44.19, and has traded between $43.94 and $49.79 over the past 52 weeks.
About
This ETF is designed to mirror the investment performance of an index comprising government debt instruments issued in the local currencies of various emerging market nations. A notable change occurred on July 12, 2017, when the fund's reference benchmark transitioned from the Bloomberg Barclays EM Local Currency Government Bond Index to the J.P. Morgan GBI-EM Global Diversified 10% Cap 1% Floor.
Key statistics
Expense ratio
0.5%
Assets (AUM)
$5.4B
Holdings
357
NAV
$44.16
Avg. volume
58.86K
1-year price change
-6.20%
5-year price change
-16.72%
Price change excludes dividends.
Top 10 holdings
IEML holds 357 securities in total. These 10 are 14.6% of the fund.
Where the money is invested
Sectors
Countries
Similar funds
This is not an investment recommendation
How to buy IEML from India
Indian residents can buy IEML units through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers. Read the full guide: how to invest in IEML from India
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search IEML and buy
Find the fund by its ticker, IEML, on the London Stock Exchange ETF segment, and place your order.
Track holdings and download tax reports
Follow your IEML position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Trading and taxes when buying IEML from India
Trading and limits
- Trading hours
- 8:00 am – 4:30 pm UK
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
FAQs
What is the IEML price today?
iShares J.P. Morgan EM Local Govt Bond UCITS ETF (IEML) last traded at $44.03 on the London Stock Exchange ETF segment, as of 13 Nov 2026, 11:35 AM ET. That is ₹4,143 a unit at the 12 Nov 2026 USD/INR rate.
When does IEML trade, in Indian time?
The London Stock Exchange ETF segment trades 1:30 pm – 10:00 pm IST. The window shifts to 12:30 pm – 9:00 pm IST when the UK is on daylight time. Orders can only execute during that window.
How big is IEML, and what does it cost to hold?
iShares J.P. Morgan EM Local Govt Bond UCITS ETF manages about $5.4B. Its expense ratio is 0.5% a year, deducted inside the fund. It launched in 2011.
Is IEML a UCITS ETF?
Yes. iShares J.P. Morgan EM Local Govt Bond UCITS ETF is a UCITS fund domiciled in Ireland, set up under the European Union's UCITS rules for funds sold across Europe. It is listed on the London Stock Exchange ETF segment and trades in US dollars.
What are IEML's largest holdings?
The top three are ISHS BRAZIL LTN BRL GOVT BD USDHA (4.7%), USD CASH (1.9%) and BRAZIL FEDERATIVE REPUBLIC OF (GOV 10.00% 01/01/2031 (BNTNF) (1.2%). IEML's 10 largest positions make up 14.6% of the fund.
Is IEML subject to US estate tax?
No. Because IEML is domiciled in Ireland rather than the US, it is not a US-situs asset, so US estate tax does not apply to it. US-listed ETFs held directly can be taxed at up to 40% above $60,000 when they pass to your family.
Is IEML accumulating or distributing?
Distributing. It pays dividends out to you in cash, taxed at your slab rate in India.
How are gains on IEML taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
How has IEML performed?
IEML's price is down 6.2% over the past year and down 16.7% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.
How is IEML different from a US-listed ETF?
IEML is domiciled in Ireland rather than the US, which keeps it outside US estate tax. Capital gains on both are taxed the same way in India.