Euronext Amsterdam · UCITS ETF
Invest in FXAC ETF from India
Indian and foreign residents can buy iShares China Large UCITS ETF (FXAC) units directly through Paasa.
By Paasa · Updated
FXAC at a glance
- Price
- €4.00+€0.04 (0.95%)
- Expense ratio
- 0.74%
- Day range
- €4.00 – €4.02
- Assets
- €31.8M
- Domicile
- Ireland
- Holdings
- 50
- Launched
- 2021
- Dividends
- Accumulating
- 1 month
- -1.60%
- 6 months
- -0.05%
- YTD
- -7.62%
- 1 year
- -12.28%
- 5 years
- +0.55%
Price change, excluding dividends.
Top 10 holdings
- 1TENCENT HOLDINGS9.3%
- 2ALIBABA GROUP HOLDING9.1%
- 3CHINA CONSTRUCTION BANK CORP H9.0%
- 4INDUSTRIAL AND COMMERCIAL BANK OF6.4%
- 5XIAOMI4.6%
- 6BANK OF CHINA LTD H4.5%
- 7MEITUAN4.3%
- 8NETEASE3.9%
- 9PING AN INSURANCE (GROUP) CO OF CH3.6%
- 10BYD H3.2%
FXAC holds 50 securities in total. These 10 are 58.0% of the fund.
Where the money is invested
Sectors
- Financial Services35.9%
- Consumer Cyclical25.8%
- Communication Services11.3%
- Technology10.6%
- Energy5.1%
- Basic Materials3.6%
Countries
- China94.8%
- Singapore2.1%
- Switzerland2.0%
- Hong Kong0.9%
- Ireland0.8%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| FXIAMEXiShares China Large-Cap ETF | 0.73% | 4.1B |
| IDFXLSEiShares China Large Cap UCITS ETF | 0.74% | 809.7M |
Assets are shown in each fund's own reporting currency.
How to invest in FXAC 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, and Interactive Brokers converts the dollars to EUR when you buy.
Step 3
Search FXAC and buy
Find the fund by its ticker, FXAC, on Euronext Amsterdam, and place your order.
Why invest in FXAC from India
What FXAC holds
The investment objective of this Fund is to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the FTSE China 50 Index.
Outside US estate tax
FXAC is domiciled in Ireland, 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 FXAC's holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
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 FXAC's UCITS structure matters for Indian investors
FXAC 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 FXAC from India?
Yes. Indian residents can buy iShares China Large UCITS ETF (FXAC) through Paasa. It is listed on Euronext Amsterdam and trades in EUR. 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 FXAC invest in?
iShares China Large UCITS ETF holds 50 securities. Its largest holdings are TENCENT HOLDINGS (9.3%), ALIBABA GROUP HOLDING (9.1%) and CHINA CONSTRUCTION BANK CORP H (9.0%). Financial Services is its largest sector at 35.9%. It is an accumulating fund domiciled in Ireland.
What is the expense ratio of FXAC?
iShares China Large UCITS ETF has an expense ratio of 0.74% a year, taken from the fund's assets rather than billed to you. The fund manages about €31.8M.
Is FXAC a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares China Large 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.
Does FXAC pay dividends?
No. iShares China Large 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 FXAC?
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 EUR/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.