London Stock Exchange ETF segment · UCITS ETF
Invest in HMAD ETF from India
Indian and foreign residents can buy HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD) units directly through Paasa.
By Paasa · Updated
HMAD at a glance
- Price
- $94.09-$0.12 (0.13%)
- Expense ratio
- 0.45%
- Day range
- $93.97 – $94.18
- Assets
- $515.5M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2013
- Dividends
- —
- 1 month
- +0.42%
- 6 months
- +28.66%
- YTD
- +33.25%
- 1 year
- +39.10%
- 5 years
- +65.91%
Price change, excluding dividends.
Top 10 holdings
- 1Taiwan Semiconductor Manufacturing Co Ltd19.3%
- 2Samsung Electronics Co Ltd9.8%
- 3SK hynix Inc7.6%
- 4Capital Cash Ctrl3.7%
- 5Tencent Holdings Ltd3.5%
- 6MediaTek Inc2.4%
- 7Alibaba Group Holding Ltd Ordinary Shares2.4%
- 8Samsung Electronics Co Ltd Participating Preferred1.3%
- 9DBS Group Holdings Ltd1.3%
- 10Delta Electronics Inc1.2%
These 10 are 52.4% of the fund.
Where the money is invested
Sectors
- Technology54.7%
- Financial Services15.7%
- Consumer Cyclical7.3%
- Industrials6.5%
- Communication Services5.4%
- Basic Materials2.4%
Countries
- Taiwan (Province of China)35.8%
- Korea (the Republic of)27.3%
- China22.6%
- Hong Kong5.4%
- Singapore4.2%
- Thailand1.2%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| IDFFLSEiShares MSCI AC Far East ex-Japan UCITS ETF | 0.74% | 1.9B |
| IFFIAMSiShares MSCI AC Far East ex-Japan UCITS ETF | 0.74% | 116.7M |
Assets are shown in each fund's own reporting currency.
How to invest in HMAD 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 HMAD and buy
Find the fund by its ticker, HMAD, on the London Stock Exchange ETF segment, and place your order.
Why invest in HMAD from India
What HMAD holds
This Fund's primary objective is to closely mirror the investment performance of the MSCI AC Far East ex Japan Index. It achieves this by holding or gaining exposure to the shares of the companies that comprise this benchmark.
Outside US estate tax
HMAD 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
HMAD 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 HMAD's UCITS structure matters for Indian investors
HMAD 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 HMAD from India?
Yes. Indian residents can buy HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF (HMAD) 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 HMAD invest in?
Its largest holdings are Taiwan Semiconductor Manufacturing Co Ltd (19.3%), Samsung Electronics Co Ltd (9.8%) and SK hynix Inc (7.6%). Technology is its largest sector at 54.7%. The fund is domiciled in Ireland.
What is the expense ratio of HMAD?
HSBC MSCI AC FAR EAST ex JAPAN UCITS ETF has an expense ratio of 0.45% a year, taken from the fund's assets rather than billed to you. The fund manages about $515.5M.
Is HMAD a UCITS ETF, and why does that matter for Indian investors?
Yes. HSBC MSCI AC FAR EAST ex JAPAN 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 HMAD?
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.