London Stock Exchange ETF segment · UCITS ETF
Invest in ICOM ETF from India
Indian and foreign residents can buy iShares Diversified Commodity Swap UCITS ETF (ICOM) units directly through Paasa.
By Paasa · Updated
ICOM at a glance
- Price
- $10.63+$0.06 (0.57%)
- Expense ratio
- 0.19%
- Day range
- $10.55 – $10.63
- Assets
- $2.5B
- Domicile
- Ireland
- Holdings
- 164
- Launched
- 2017
- Dividends
- —
- 1 month
- +1.62%
- 6 months
- +8.14%
- YTD
- +30.91%
- 1 year
- +40.79%
- 5 years
- +68.66%
Price change, excluding dividends.
Top 10 holdings
- 1TREASURY BILL4.1%
- 2TREASURY BILL3.4%
- 3TREASURY BILL3.4%
- 4TREASURY BILL2.8%
- 5MACKINAC FUNDING CO LLC 144A2.1%
- 6BANCO BILBAO VIZCAYA ARGENTARIA SA2.0%
- 7TREASURY BILL2.0%
- 8TREASURY BILL2.0%
- 9AMERICAN HONDA FINANCE CORPORATION2.0%
- 10TREASURY BILL2.0%
ICOM holds 164 securities in total. These 10 are 25.9% of the fund.
Where the money is invested
Sectors
- Basic Materials35.8%
- Financial Services17.8%
- Consumer Cyclical12.9%
- Communication Services12.3%
- Consumer Defensive9.7%
- Real Estate5.8%
Countries
- United States97.6%
- United Kingdom2.4%
How to invest in ICOM 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 ICOM and buy
Find the fund by its ticker, ICOM, on the London Stock Exchange ETF segment, and place your order.
Why invest in ICOM from India
What ICOM holds
This fund seeks to track the performance of an index which offers indirect exposure to commodities through the use of a total return swap. The investment objective of the Fund is to seek to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the Bloomberg Commodity USD Total Return Index.
Outside US estate tax
ICOM 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
ICOM 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 ICOM's UCITS structure matters for Indian investors
ICOM 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 ICOM from India?
Yes. Indian residents can buy iShares Diversified Commodity Swap UCITS ETF (ICOM) 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 ICOM invest in?
iShares Diversified Commodity Swap UCITS ETF holds 164 securities. Its largest holdings are TREASURY BILL (4.1%), TREASURY BILL (3.4%) and TREASURY BILL (3.4%). Basic Materials is its largest sector at 35.8%. The fund is domiciled in Ireland.
What is the expense ratio of ICOM?
iShares Diversified Commodity Swap UCITS ETF has an expense ratio of 0.19% a year, taken from the fund's assets rather than billed to you. The fund manages about $2.5B.
Is ICOM a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares Diversified Commodity Swap 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 ICOM?
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.