XETRA · UCITS ETF
Invest in SC0Y ETF from India
Indian and foreign residents can buy Invesco STOXX Europe 600 Optimised Insurance UCITS ETF (SC0Y) units directly through Paasa.
By Paasa · Updated
SC0Y at a glance
- Price
- €252.50-€1.40 (0.55%)
- Expense ratio
- 0.2%
- Day range
- €252.50 – €255.35
- Assets
- €52.5M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2009
- Dividends
- —
- 1 month
- -3.72%
- 6 months
- +14.15%
- YTD
- +6.81%
- 1 year
- +12.12%
- 5 years
- +108.57%
Price change, excluding dividends.
Top 10 holdings
- 1ALLIANZ ORD14.9%
- 2ZURICH INSURANCE GROUP ORD10.9%
- 3AXA ORD10.5%
- 4MUENCHENER RUECKVER N ORD9.3%
- 5GENERALI ORD7.1%
- 6SWISS RE AG ORD6.4%
- 7PRUDENTIAL ORD4.1%
- 8AVIVA ORD3.6%
- 9SWISS LIFE HLDG N ORD3.6%
- 10NN GROUP ORD3.1%
These 10 are 73.4% of the fund.
Where the money is invested
Countries
- Germany27.4%
- Switzerland22.9%
- France11.3%
- United Kingdom10.4%
- Italy8.7%
- Netherlands5.9%
How to invest in SC0Y 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 EUR when you buy.
Step 3
Search SC0Y and buy
Find the fund by its ticker, SC0Y, on XETRA, and place your order.
Why invest in SC0Y from India
What SC0Y holds
This ETF endeavors to replicate the net total return performance of the STOXX Europe 600 Optimised Insurance Index (referred to as the "Reference Index"), after accounting for associated fees. The Reference Index is crafted to offer a highly liquid tracking instrument for investors interested in companies within the STOXX Europe 600 Insurance Index, facilitating both long and short investment strategies.
Outside US estate tax
SC0Y 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 SC0Y's UCITS structure matters for Indian investors
SC0Y 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 SC0Y from India?
Yes. Indian residents can buy Invesco STOXX Europe 600 Optimised Insurance UCITS ETF (SC0Y) through Paasa. It is listed on XETRA and trades in EUR. 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 SC0Y invest in?
Its largest holdings are ALLIANZ ORD (14.9%), ZURICH INSURANCE GROUP ORD (10.9%) and AXA ORD (10.5%). The fund is domiciled in Ireland.
What is the expense ratio of SC0Y?
Invesco STOXX Europe 600 Optimised Insurance UCITS ETF has an expense ratio of 0.2% a year, taken from the fund's assets rather than billed to you. The fund manages about €52.5M.
Is SC0Y a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco STOXX Europe 600 Optimised Insurance 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 SC0Y?
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 EUR/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.