London Stock Exchange ETF segment · UCITS ETF
Invest in X7PP ETF from India
Indian and foreign residents can buy Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PP) units directly through Paasa.
By Paasa · Updated
X7PP at a glance
- Price
- £214.78-£1.50 (0.69%)
- Expense ratio
- 0.2%
- Day range
- £214.78 – £217.90
- Assets
- £574.0M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2009
- Dividends
- —
- 1 month
- -0.27%
- 6 months
- +32.39%
- YTD
- +19.71%
- 1 year
- +38.16%
- 5 years
- +277.00%
Price change, excluding dividends.
Top 10 holdings
- 1BANCO SANTANDER ORD10.0%
- 2HSBC HOLDINGS ORD7.9%
- 3BANCO BILBAO VIZCAYA ARGENTARIA ORD7.6%
- 4UNICREDIT ORD6.7%
- 5BNP PARIBAS ACT.A ORD5.8%
- 6INTESA SANPAOLO ORD5.7%
- 7ING GROEP ORD5.0%
- 8BARCLAYS ORD4.0%
- 9LLOYDS BANKING GROUP ORD3.6%
- 10DEUTSCHE BANK N ORD3.5%
These 10 are 59.9% of the fund.
Where the money is invested
Countries
- Spain22.0%
- United Kingdom21.8%
- Italy16.9%
- France9.8%
- Netherlands6.5%
- Germany4.6%
How to invest in X7PP 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 GBP when you buy.
Step 3
Search X7PP and buy
Find the fund by its ticker, X7PP, on the London Stock Exchange ETF segment, and place your order.
Why invest in X7PP from India
What X7PP holds
This Invesco ETF aims to replicate the net total return performance of its benchmark, the STOXX Europe 600 Optimised Banks Index (referred to as the "Reference Index"), after accounting for all charges. The Reference Index itself serves as a highly liquid gauge for investors interested in both long and short positions within the banking sector, specifically targeting constituents of the broader STOXX Europe 600 Banks Index.
Outside US estate tax
X7PP 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 X7PP's UCITS structure matters for Indian investors
X7PP 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 X7PP from India?
Yes. Indian residents can buy Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PP) through Paasa. It is listed on the London Stock Exchange ETF segment and trades in GBP. 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 X7PP invest in?
Its largest holdings are BANCO SANTANDER ORD (10.0%), HSBC HOLDINGS ORD (7.9%) and BANCO BILBAO VIZCAYA ARGENTARIA ORD (7.6%). The fund is domiciled in Ireland.
What is the expense ratio of X7PP?
Invesco STOXX Europe 600 Optimised Banks 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 £574.0M.
Is X7PP a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco STOXX Europe 600 Optimised Banks 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 X7PP?
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 GBP/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.