London Stock Exchange ETF segment · UCITS ETF
Invest in SPWS ETF from India
Indian and foreign residents can buy Invesco S&P 500 Equal Weight Swap UCITS ETF AccumUSD (SPWS) units directly through Paasa.
By Paasa · Updated
SPWS at a glance
- Price
- $5.77-$0.02 (0.31%)
- Expense ratio
- 0.2%
- Day range
- $5.77 – $5.80
- Assets
- $1.1B
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2025
- Dividends
- —
- 1 month
- -5.63%
- 6 months
- +10.67%
- YTD
- +9.00%
- 1 year
- +11.96%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1ZEBRA TECHNOLOGIES CL A ORD0.3%
- 2EXPEDIA GROUP ORD0.3%
- 3PAYPAL HOLDINGS ORD0.3%
- 4CHRLS RIVER LABS ORD0.3%
- 5GLOBAL PAYMENTS ORD0.3%
- 6VEEVA SYSTEMS ORD0.3%
- 7PALO ALTO NETWORKS ORD0.3%
- 8WORKDAY CL A ORD0.3%
- 9DOORDASH CL A ORD0.3%
- 10AIRBNB CL A ORD0.3%
These 10 are 2.8% of the fund.
Where the money is invested
Countries
- United States95.5%
- Ireland2.1%
- Switzerland0.7%
- United Kingdom0.6%
- Bermuda0.4%
- Netherlands0.3%
How to invest in SPWS 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 SPWS and buy
Find the fund by its ticker, SPWS, on the London Stock Exchange ETF segment, and place your order.
Why invest in SPWS from India
What SPWS holds
The investment objective of the Fund is to provide exposure to the performance of large capitalisation listed US companies that are equally weighted.
Outside US estate tax
SPWS 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
SPWS 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 SPWS' UCITS structure matters for Indian investors
SPWS 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 SPWS from India?
Yes. Indian residents can buy Invesco S&P 500 Equal Weight Swap UCITS ETF AccumUSD (SPWS) 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 SPWS invest in?
Its largest holdings are ZEBRA TECHNOLOGIES CL A ORD (0.3%), EXPEDIA GROUP ORD (0.3%) and PAYPAL HOLDINGS ORD (0.3%). The fund is domiciled in Ireland.
What is the expense ratio of SPWS?
Invesco S&P 500 Equal Weight Swap UCITS ETF AccumUSD has an expense ratio of 0.2% a year, taken from the fund's assets rather than billed to you. The fund manages about $1.1B.
Is SPWS a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco S&P 500 Equal Weight Swap UCITS ETF AccumUSD 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 SPWS?
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.