London Stock Exchange ETF segment · UCITS ETF
Invest in RAYZ ETF from India
Indian and foreign residents can buy Global X - Solar UCITS ETF (RAYZ) units directly through Paasa.
By Paasa · Updated
RAYZ at a glance
- Price
- $8.98+$0.16 (1.76%)
- Expense ratio
- 0.5%
- Day range
- $8.95 – $8.99
- Assets
- $9.0M
- Domicile
- Ireland
- Holdings
- 47
- Launched
- 2022
- Dividends
- —
- 1 month
- -9.49%
- 6 months
- -27.06%
- YTD
- -20.19%
- 1 year
- -14.73%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1FIRST SOLAR INC9.8%
- 2LONGI GREEN ENERGY TECHNOL-A9.4%
- 3NINGBO DEYE TECHNOLOGY COR-A6.4%
- 4NEXTPOWER INC6.1%
- 5SUNGROW POWER SUPPLY CO LT-A6.0%
- 6ZHEJIANG CHINT ELECTRICS-A4.7%
- 7HANWHA SOLUTIONS CORP3.5%
- 8SHENZHEN SC NEW ENERGY TEC-A3.2%
- 9ENPHASE ENERGY INC3.1%
- 10SHANGHAI AIKO SOLAR ENERGY-A3.1%
RAYZ holds 47 securities in total. These 10 are 55.3% of the fund.
Where the money is invested
Sectors
- Energy43.6%
- Industrials28.8%
- Technology14.9%
- Utilities7.6%
- Basic Materials3.8%
Countries
- China63.3%
- United States24.3%
- South Korea3.7%
- Israel2.3%
- Norway1.8%
- Germany1.7%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| TANAMEXInvesco Solar ETF | 0.7% | 901.5M |
Assets are shown in each fund's own reporting currency.
How to invest in RAYZ 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 RAYZ and buy
Find the fund by its ticker, RAYZ, on the London Stock Exchange ETF segment, and place your order.
Why invest in RAYZ from India
What RAYZ holds
The Global X Solar UCITS ETF (RAYZ LN) aims to closely track the investment performance of the Solactive Solar v2 Index. Its objective is to mirror both the capital appreciation and income generated by the index, with this performance measured prior to the deduction of any associated fees and expenses.
Outside US estate tax
RAYZ 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
RAYZ 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 RAYZ's UCITS structure matters for Indian investors
RAYZ 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 RAYZ from India?
Yes. Indian residents can buy Global X - Solar UCITS ETF (RAYZ) 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 RAYZ invest in?
Global X - Solar UCITS ETF holds 47 securities. Its largest holdings are FIRST SOLAR INC (9.8%), LONGI GREEN ENERGY TECHNOL-A (9.4%) and NINGBO DEYE TECHNOLOGY COR-A (6.4%). Energy is its largest sector at 43.6%. The fund is domiciled in Ireland.
What is the expense ratio of RAYZ?
Global X - Solar UCITS ETF has an expense ratio of 0.5% a year, taken from the fund's assets rather than billed to you. The fund manages about $9.0M.
Is RAYZ a UCITS ETF, and why does that matter for Indian investors?
Yes. Global X - Solar 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 RAYZ?
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.