London Stock Exchange ETF segment · UCITS ETF
Invest in MUNI ETF from India
Indian and foreign residents can buy Invesco US Municipal Bond UCITS ETF (MUNI) units directly through Paasa.
By Paasa · Updated
MUNI at a glance
- Price
- $30.14-$0.01 (0.02%)
- Expense ratio
- 0.28%
- Day range
- $30.14 – $30.19
- Assets
- $14.6M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2021
- Dividends
- Distributing
- 1 month
- -4.26%
- 6 months
- -6.11%
- YTD
- -6.87%
- 1 year
- -6.90%
- 5 years
- -24.60%
Price change, excluding dividends.
Top 10 holdings
- 1California 7.55% 01/04/391.6%
- 2Illinois 5.1% 01/06/331.5%
- 3California 7.6% 01/11/401.3%
- 4California 7.5% 01/04/341.3%
- 5New Jersey Turnpike Authority 7.102% 01/01/411.1%
- 6California 7.35% 01/11/390.8%
- 7North Texas Tollway Authority 6.718% 01/01/490.8%
- 8Port Authority of New York & New J 4.458% 01/10/620.8%
- 9California 7.625% 01/03/400.8%
- 10California 7.3% 01/10/390.8%
These 10 are 10.7% of the fund.
Where the money is invested
Countries
- United States99.9%
- Other0.1%
How to invest in MUNI 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 MUNI and buy
Find the fund by its ticker, MUNI, on the London Stock Exchange ETF segment, and place your order.
Why invest in MUNI from India
What MUNI holds
Operating as a passively managed Exchange-Traded Fund (ETF), its primary objective is to track the total return generated by the ICE BofA US Taxable Municipal Securities Plus Index (the Index), with all returns calculated after the deduction of associated fees, expenditures, and trading costs.
Outside US estate tax
MUNI 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
MUNI 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 MUNI's UCITS structure matters for Indian investors
MUNI is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Capital gains are taxed in India the same way as on a US-listed ETF.
Frequently asked questions
Can I buy MUNI from India?
Yes. Indian residents can buy Invesco US Municipal Bond UCITS ETF (MUNI) 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 MUNI invest in?
Its largest holdings are California 7.55% 01/04/39 (1.6%), Illinois 5.1% 01/06/33 (1.5%) and California 7.6% 01/11/40 (1.3%). It is a distributing fund domiciled in Ireland.
What is the expense ratio of MUNI?
Invesco US Municipal Bond UCITS ETF has an expense ratio of 0.28% a year, taken from the fund's assets rather than billed to you. The fund manages about $14.6M.
Is MUNI a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco US Municipal Bond 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.
How are MUNI dividends taxed in India?
Invesco US Municipal Bond 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 MUNI?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is 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.