Invest in UENH ETF from India

Yes. Indian residents can buy Franklin Core US Enhanced Equity UCITS ETF AccumUSD (UENH) 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.

Its largest holdings are NVIDIA CORP USD 0.001 (8.3%), APPLE INC USD 0.00001 (7.7%) and MICROSOFT USD 0.00000625 (5.7%). The fund is domiciled in Ireland.

Franklin Core US Enhanced Equity 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 $10.6M.

Yes. Franklin Core US Enhanced Equity 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.

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.