London Stock Exchange ETF segment · UCITS ETF
Invest in IEFS ETF from India
Indian and foreign residents can buy iShares MSCI Europe Mid- Equal Weight UCITS ETF (IEFS) units directly through Paasa.
By Paasa · Updated
IEFS at a glance
- Price
- £9.55-£0.13 (1.38%)
- Expense ratio
- 0.25%
- Day range
- £9.53 – £9.61
- Assets
- £29.3M
- Domicile
- Ireland
- Holdings
- 212
- Launched
- 2015
- Dividends
- Accumulating
- 1 month
- -3.34%
- 6 months
- +4.50%
- YTD
- +6.41%
- 1 year
- +10.92%
- 5 years
- +35.21%
Price change, excluding dividends.
Top 10 holdings
- 1PANDORA0.7%
- 2EUR CASH0.7%
- 3DSM FIRMENICH AG0.7%
- 4RAIFFEISEN BANK INTERNATIONAL AG0.6%
- 5DEMANT0.6%
- 6GENMAB0.6%
- 7SEGRO REIT PLC0.6%
- 8KINGSPAN GROUP PLC0.6%
- 9ABN AMRO BANK NV0.6%
- 10REPSOL0.6%
IEFS holds 212 securities in total. These 10 are 6.4% of the fund.
Where the money is invested
Countries
- United Kingdom16.9%
- France11.2%
- Sweden9.6%
- Switzerland9.4%
- Germany9.1%
- Italy7.5%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| CEMTXETRAiShares MSCI Europe Mid-Cap Equal Weight UCITS ETF | 0.25% | 34.2M |
Assets are shown in each fund's own reporting currency.
How to invest in IEFS 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 GBP when you buy.
Step 3
Search IEFS and buy
Find the fund by its ticker, IEFS, on the London Stock Exchange ETF segment, and place your order.
Why invest in IEFS from India
What IEFS holds
This fund is designed to replicate the returns of a benchmark index comprising firms with a relatively smaller market capitalization, sourced from the broader MSCI Europe equity market.
Outside US estate tax
IEFS 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 IEFS' 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 IEFS' UCITS structure matters for Indian investors
IEFS 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 IEFS from India?
Yes. Indian residents can buy iShares MSCI Europe Mid- Equal Weight UCITS ETF (IEFS) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in GBP. 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 IEFS invest in?
iShares MSCI Europe Mid- Equal Weight UCITS ETF holds 212 securities. Its largest holdings are PANDORA (0.7%), EUR CASH (0.7%) and DSM FIRMENICH AG (0.7%). It is an accumulating fund domiciled in Ireland.
What is the expense ratio of IEFS?
iShares MSCI Europe Mid- Equal Weight UCITS ETF has an expense ratio of 0.25% a year, taken from the fund's assets rather than billed to you. The fund manages about £29.3M.
Is IEFS a UCITS ETF, and why does that matter for Indian investors?
Yes. iShares MSCI Europe Mid- Equal Weight 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 IEFS pay dividends?
No. iShares MSCI Europe Mid- Equal Weight 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 IEFS?
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 GBP/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.