London Stock Exchange ETF segment · UCITS ETF
Invest in EMSD ETF from India
Indian and foreign residents can buy State Street SPDR MSCI Emerging Markets Small UCITS ETF (EMSD) units directly through Paasa.
By Paasa · Updated
EMSD at a glance
- Price
- $154.15-$0.61 (0.39%)
- Expense ratio
- 0.55%
- Day range
- $154.15 – $156.28
- Assets
- $634.5M
- Domicile
- Ireland
- Holdings
- 1,791
- Launched
- 2011
- Dividends
- Accumulating
- 1 month
- -3.31%
- 6 months
- +7.74%
- YTD
- +10.97%
- 1 year
- +12.03%
- 5 years
- +41.14%
Price change, excluding dividends.
Top 10 holdings
- 1Taiwan Union Technology Corporation0.7%
- 2MSCI EM Sl Cap Fu Dec260.6%
- 3Nan Ya Printed Circuit Board Corporation0.6%
- 4Kinsus Interconnect Technology Corp.0.6%
- 5Powerchip Semiconductor Manufacturing Corp.0.5%
- 6Tripod Technology Corporation0.4%
- 7Compeq Manufacturing Co. Ltd.0.4%
- 8AUO Corporation0.4%
- 9Macronix International Co. Ltd.0.4%
- 10LandMark Optoelectronics Corp.0.4%
EMSD holds 1,791 securities in total. These 10 are 5.2% of the fund.
Where the money is invested
Sectors
- Technology25.7%
- Industrials17.7%
- Financial Services10.5%
- Consumer Cyclical10.2%
- Basic Materials8.9%
- Healthcare8.8%
Countries
- Taiwan (Province of China)26.7%
- India20.9%
- Korea (the Republic of)14.7%
- China6.5%
- South Africa3.3%
- Brazil3.3%
How to invest in EMSD 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 EMSD and buy
Find the fund by its ticker, EMSD, on the London Stock Exchange ETF segment, and place your order.
Why invest in EMSD from India
What EMSD holds
This Fund aims to replicate the stock market returns achieved by smaller companies operating in developing economies.
Outside US estate tax
EMSD is domiciled in Ireland, not the US, so it is not a US-situs asset and US estate tax does not apply to it.
Dividends reinvested for you
Dividends from EMSD's holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
Hold a dollar asset
EMSD 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 EMSD's UCITS structure matters for Indian investors
EMSD 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 EMSD from India?
Yes. Indian residents can buy State Street SPDR MSCI Emerging Markets Small UCITS ETF (EMSD) 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 EMSD invest in?
State Street SPDR MSCI Emerging Markets Small UCITS ETF holds 1,791 securities. Its largest holdings are Taiwan Union Technology Corporation (0.7%), MSCI EM Sl Cap Fu Dec26 (0.6%) and Nan Ya Printed Circuit Board Corporation (0.6%). Technology is its largest sector at 25.7%. It is an accumulating fund domiciled in Ireland.
What is the expense ratio of EMSD?
State Street SPDR MSCI Emerging Markets Small UCITS ETF has an expense ratio of 0.55% a year, taken from the fund's assets rather than billed to you. The fund manages about $634.5M.
Is EMSD a UCITS ETF, and why does that matter for Indian investors?
Yes. State Street SPDR MSCI Emerging Markets Small 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.
Does EMSD pay dividends?
No. State Street SPDR MSCI Emerging Markets Small UCITS ETF is an accumulating fund. Dividends from its holdings are reinvested inside the fund, so nothing is paid out to you and there is no dividend to declare in India.
What tax do I pay in India when I sell EMSD?
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.