London Stock Exchange ETF segment · UCITS ETF
Invest in HCAD ETF from India
Indian and foreign residents can buy HSBC MSCI Canada UCITS ETF (HCAD) units directly through Paasa.
By Paasa · Updated
HCAD at a glance
- Price
- $35.23-$0.23 (0.63%)
- Expense ratio
- 0.35%
- Day range
- $35.23 – $35.46
- Assets
- $136.1M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2011
- Dividends
- Distributing
- 1 month
- -5.14%
- 6 months
- +9.07%
- YTD
- +6.56%
- 1 year
- +16.31%
- 5 years
- +62.50%
Price change, excluding dividends.
Top 10 holdings
- 1Capital Cash Ctrl22.0%
- 2Royal Bank of CanadaRY.TO8.9%
- 3The Toronto-Dominion BankTD.TO6.4%
- 4Shopify Inc Registered Shs -A- Subord VtgSHOP.TO5.6%
- 5Bank of MontrealBMO.TO3.8%
- 6Bank of Nova ScotiaBNS.TO3.6%
- 7Enbridge IncENB.TO3.4%
- 8Canadian Imperial Bank of CommerceCM.TO3.3%
- 9Agnico Eagle Mines LtdAEM.TO3.2%
- 10Canadian Natural Resources LtdCNQ.TO3.2%
These 10 are 63.3% of the fund.
Where the money is invested
Sectors
- Financial Services39.1%
- Energy17.4%
- Basic Materials16.2%
- Technology9.1%
- Industrials8.9%
- Consumer Cyclical3.4%
Countries
- Canada95.9%
- United States2.3%
- United Kingdom1.1%
- Other0.7%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| EWCAMEXiShares MSCI Canada ETF | 0.5% | 7.1B |
| CCAULSEiShares MSCI Canada UCITS ETF | 0.48% | 2.3B |
Assets are shown in each fund's own reporting currency.
How to invest in HCAD 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 HCAD and buy
Find the fund by its ticker, HCAD, on the London Stock Exchange ETF segment, and place your order.
Why invest in HCAD from India
What HCAD holds
The fund endeavors to replicate the financial performance of the MSCI Canada Index as accurately as possible. To do so, it will either directly invest in or obtain exposure to the equities of the companies included in the Index.
Outside US estate tax
HCAD 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
HCAD 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 HCAD's UCITS structure matters for Indian investors
HCAD 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 HCAD from India?
Yes. Indian residents can buy HSBC MSCI Canada UCITS ETF (HCAD) 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 HCAD invest in?
Its largest holdings are Capital Cash Ctrl (22.0%), Royal Bank of Canada (8.9%) and The Toronto-Dominion Bank (6.4%). Financial Services is its largest sector at 39.1%. It is a distributing fund domiciled in Ireland.
What is the expense ratio of HCAD?
HSBC MSCI Canada 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 $136.1M.
Is HCAD a UCITS ETF, and why does that matter for Indian investors?
Yes. HSBC MSCI Canada 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.
How are HCAD dividends taxed in India?
HSBC MSCI Canada UCITS ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell HCAD?
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.