SIX Swiss Exchange · UCITS ETF
Invest in EXCH ETF from India
Indian and foreign residents can buy iShares MSCI EM ex-China UCITS ETF (EXCH) units directly through Paasa.
By Paasa · Updated
EXCH at a glance
- Price
- $9.38-$0.06 (0.65%)
- Expense ratio
- 0.18%
- Day range
- $9.38 – $9.51
- Assets
- $5.6B
- Domicile
- Ireland
- Holdings
- 571
- Launched
- 2021
- Dividends
- —
- 1 month
- -0.49%
- 6 months
- +23.64%
- YTD
- +35.22%
- 1 year
- +46.85%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1TAIWAN SEMICONDUCTOR MANUFACTURING19.3%
- 2SAMSUNG ELECTRONICS LTD9.3%
- 3SK HYNIX7.2%
- 4ISHARES MSCI BRAZIL UCITS ET USDHA4.9%
- 5MEDIATEK2.4%
- 6SAMSUNG ELECTRONICS NON VOTING PRE1.2%
- 7DELTA ELECTRONICS1.2%
- 8HON HAI PRECISION INDUSTRY1.0%
- 9HDFC BANK0.9%
- 10SK SQUARE0.7%
EXCH holds 571 securities in total. These 10 are 48.2% of the fund.
Where the money is invested
Sectors
- Technology49.9%
- Financial Services19.2%
- Industrials6.6%
- Basic Materials6.5%
- Consumer Cyclical4.2%
- Energy3.5%
Countries
- Taiwan (Province of China)35.9%
- Korea (the Republic of)26.5%
- India13.3%
- Germany4.9%
- South Africa3.1%
- Saudi Arabia2.9%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| EXCHAMSiShares MSCI EM ex-China UCITS ETF | 0.18% | 5.6B |
| EXCSLSEiShares MSCI EM ex-China UCITS ETF | 0.18% | 4.3B |
Assets are shown in each fund's own reporting currency.
How to invest in EXCH 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 EXCH and buy
Find the fund by its ticker, EXCH, on the SIX Swiss Exchange, and place your order.
Why invest in EXCH from India
What EXCH holds
This fund is designed to replicate the financial performance of a selected index. It invests in equities of large and mid-sized companies located across various emerging economies, specifically excluding those based in China.
Outside US estate tax
EXCH is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Hold a dollar asset
EXCH 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 EXCH's UCITS structure matters for Indian investors
EXCH is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy EXCH from India?
Yes. Indian residents can buy iShares MSCI EM ex-China UCITS ETF (EXCH) through Paasa. It is listed on the SIX Swiss Exchange 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 EXCH invest in?
iShares MSCI EM ex-China UCITS ETF holds 571 securities. Its largest holdings are TAIWAN SEMICONDUCTOR MANUFACTURING (19.3%), SAMSUNG ELECTRONICS LTD (9.3%) and SK HYNIX (7.2%). Technology is its largest sector at 49.9%. The fund is domiciled in Ireland.
What is the expense ratio of EXCH?
iShares MSCI EM ex-China UCITS ETF has an expense ratio of 0.18% a year, taken from the fund's assets rather than billed to you. The fund manages about $5.6B.
Is EXCH a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares MSCI EM ex-China UCITS ETF is a UCITS fund domiciled in Ireland. Because it is domiciled outside the US, it is not a US-situs asset, so US estate tax does not apply to it. On the US shares the fund holds, the 15% US dividend withholding is paid inside the fund, and you cannot claim it as a Foreign Tax Credit in India.
What tax do I pay in India when I sell EXCH?
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.