London Stock Exchange ETF segment · UCITS ETF
Invest in IQAX ETF from India
Indian and foreign residents can buy Invesco All Country World Enhanced Equity UCITS ETF (IQAX) units directly through Paasa.
By Paasa · Updated
IQAX at a glance
- Price
- £3.76+£0.03 (0.70%)
- Expense ratio
- 0.24%
- Day range
- £3.76 – £3.77
- Assets
- £24.8M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2026
- Dividends
- —
Top 10 holdings
- 1IVZ EM ENHANCED ACC9.7%
- 2NVIDIA CORP USD0.0015.3%
- 3APPLE INC USD0.000014.9%
- 4MICROSOFT CORP USD0.000006253.5%
- 5ALPHABET INC-CL A USD0.0013.5%
- 6AMAZON.COM INC USD0.012.4%
- 7Meta Platforms INC USD0.0000061.6%
- 8BROADCOM INC NPV1.5%
- 9MICRON TECHNOLOGY INC USD0.11.4%
- 10ADVANCED MICRO DEVICES USD0.010.9%
These 10 are 34.8% of the fund.
Where the money is invested
Countries
- United States63.8%
- Ireland10.7%
- Japan5.6%
- United Kingdom3.0%
- Canada2.7%
- France2.0%
How to invest in IQAX 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 IQAX and buy
Find the fund by its ticker, IQAX, on the London Stock Exchange ETF segment, and place your order.
Why invest in IQAX from India
What IQAX holds
The investment objective of the Fund is to achieve a long-term return in excess of the Benchmark by investing in an actively-managed portfolio of global developed and emerging market equities.
Outside US estate tax
IQAX is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
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 IQAX's UCITS structure matters for Indian investors
IQAX 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 IQAX from India?
Yes. Indian residents can buy Invesco All Country World Enhanced Equity UCITS ETF (IQAX) 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 IQAX invest in?
Its largest holdings are IVZ EM ENHANCED ACC (9.7%), NVIDIA CORP USD0.001 (5.3%) and APPLE INC USD0.00001 (4.9%). The fund is domiciled in Ireland.
What is the expense ratio of IQAX?
Invesco All Country World Enhanced Equity UCITS ETF has an expense ratio of 0.24% a year, taken from the fund's assets rather than billed to you. The fund manages about £24.8M.
Is IQAX a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco All Country World Enhanced Equity 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 IQAX?
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.