London Stock Exchange ETF segment · UCITS ETF
Invest in DEFS ETF from India
Indian and foreign residents can buy Amundi Stoxx Europe Defense Capitalisation -UCITS ETF (DEFS) units directly through Paasa.
By Paasa · Updated
DEFS at a glance
- Price
- $6.64+$0.09 (1.42%)
- Expense ratio
- 0.35%
- Day range
- $6.62 – $6.67
- Assets
- $622.4M
- Domicile
- Luxembourg
- Holdings
- —
- Launched
- 2025
- Dividends
- Accumulating
- 1 month
- -6.96%
- 6 months
- +3.31%
- YTD
- -0.11%
- 1 year
- -9.50%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1SAFRAN SA10.2%
- 2ROLLS-ROYCE HOLDINGS PLC10.1%
- 3BAE SYSTEMS PLC GBP10.0%
- 4AIRBUS SE PARIS9.6%
- 5THALES SA9.6%
- 6RHEINMETALL ORD9.5%
- 7MTU AERO ENGINES AG8.7%
- 8LEONARDO SPA8.6%
- 9SAAB AB-B7.9%
- 10BABCOCK INTL GRP2.5%
These 10 are 86.7% of the fund.
Where the money is invested
Countries
- United Kingdom25.4%
- Germany22.8%
- France22.6%
- Netherlands9.6%
- Italy9.1%
- Sweden8.7%
How to invest in DEFS from India
Step 1
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.
Step 2
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.
Step 3
Search DEFS and buy
Find the fund by its ticker, DEFS, on the London Stock Exchange ETF segment, and place your order.
Why invest in DEFS from India
What DEFS holds
To track the performance of STOXX Europe Total Market Defense Capped Index (the Index), and to minimize the tracking error between the net asset value of the sub-fund and the performance of the Index.
Outside US estate tax
DEFS is domiciled in Luxembourg, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Dividends reinvested for you
Dividends from DEFS' holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
Hold a dollar asset
DEFS is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Why DEFS' UCITS structure matters for Indian investors
DEFS is domiciled in Luxembourg, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy DEFS from India?
Yes. Indian residents can buy Amundi Stoxx Europe Defense Capitalisation -UCITS ETF (DEFS) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does DEFS invest in?
Its largest holdings are SAFRAN SA (10.2%), ROLLS-ROYCE HOLDINGS PLC (10.1%) and BAE SYSTEMS PLC GBP (10.0%). It is an accumulating fund domiciled in Luxembourg.
What is the expense ratio of DEFS?
Amundi Stoxx Europe Defense Capitalisation -UCITS ETF has an expense ratio of 0.35% a year, taken from the fund's assets rather than billed to you. The fund manages about $622.4M.
Is DEFS a UCITS ETF, and why does that matter for Indian investors?
Yes. Amundi Stoxx Europe Defense Capitalisation -UCITS ETF is a UCITS fund domiciled in Luxembourg. Because it is domiciled outside the US, it is not a US-situs asset, so US estate tax does not apply to it.
Does DEFS pay dividends?
No. Amundi Stoxx Europe Defense Capitalisation -UCITS ETF is an accumulating fund. Dividends from its holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
What tax do I pay in India when I sell DEFS?
In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.