London Stock Exchange ETF segment · UCITS ETF
Invest in HMEM ETF from India
Indian and foreign residents can buy HSBC MSCI Emerging Markets UCITS ETF (HMEM) units directly through Paasa.
By Paasa · Updated
HMEM at a glance
- Price
- $17.02-$0.27 (1.53%)
- Expense ratio
- 0.15%
- Day range
- $16.97 – $17.17
- Assets
- $6.2B
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2011
- Dividends
- Distributing
- 1 month
- -1.28%
- 6 months
- +20.88%
- YTD
- +21.40%
- 1 year
- +28.07%
- 5 years
- +34.76%
Price change, excluding dividends.
Top 10 holdings
- 1Taiwan Semiconductor Manufacturing Co Ltd2330.TW15.1%
- 2Samsung Electronics Co Ltd005930.KS7.5%
- 3SK hynix Inc000660.KS5.9%
- 4Capital Cash Ctrl5.6%
- 5Tencent Holdings Ltd0700.HK2.8%
- 6Alibaba Group Holding Ltd Ordinary Shares9988.HK1.9%
- 7MediaTek Inc2454.TW1.9%
- 8Samsung Electronics Co Ltd Participating Preferred005935.KS1.0%
- 9Delta Electronics Inc2308.TW0.9%
- 10China Construction Bank Corp Class H0939.HK0.8%
These 10 are 43.5% of the fund.
Where the money is invested
Sectors
- Technology41.9%
- Financial Services19.2%
- Consumer Cyclical8.2%
- Basic Materials6.3%
- Industrials6.3%
- Communication Services6.3%
Countries
- Taiwan28.4%
- South Korea21.6%
- China17.6%
- India10.7%
- Brazil3.9%
- South Africa2.5%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| EEMAMEXiShares MSCI Emerging Markets ETF | 0.72% | 31.4B |
| IEMGAMEXiShares Core MSCI Emerging Markets ETF | 0.09% | 162.3B |
| XMMELSEXtrackers MSCI Emerging Markets UCITS ETF 1C | 0.18% | 15.3B |
| EL40XETRADeka MSCI Emerging Markets UCITS ETF | 0.4% | 303.2M |
| HEMALSEHSBC MSCI Emerging Markets UCITS ETF | 0.15% | 6.2B |
Assets are shown in each fund's own reporting currency.
How to invest in HMEM 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 HMEM and buy
Find the fund by its ticker, HMEM, on the London Stock Exchange ETF segment, and place your order.
Why invest in HMEM from India
What HMEM holds
This Fund's primary goal is to replicate, as closely as possible, the performance of the MSCI Emerging Markets Index. It achieves this by investing in, or obtaining exposure to, the equity securities of the companies that constitute that benchmark.
Outside US estate tax
HMEM 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
HMEM 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 HMEM's UCITS structure matters for Indian investors
HMEM 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 HMEM from India?
Yes. Indian residents can buy HSBC MSCI Emerging Markets UCITS ETF (HMEM) 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 HMEM invest in?
Its largest holdings are Taiwan Semiconductor Manufacturing Co Ltd (15.1%), Samsung Electronics Co Ltd (7.5%) and SK hynix Inc (5.9%). Technology is its largest sector at 41.9%. It is a distributing fund domiciled in Ireland.
What is the expense ratio of HMEM?
HSBC MSCI Emerging Markets UCITS ETF has an expense ratio of 0.15% a year, taken from the fund's assets rather than billed to you. The fund manages about $6.2B.
Is HMEM a UCITS ETF, and why does that matter for Indian investors?
Yes. HSBC MSCI Emerging Markets 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 HMEM dividends taxed in India?
HSBC MSCI Emerging Markets 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 HMEM?
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.