London Stock Exchange ETF segment · UCITS ETF
Invest in XLES ETF from India
Indian and foreign residents can buy Invesco Energy S&P US Select Sector UCITS ETF (XLES) units directly through Paasa.
By Paasa · Updated
XLES at a glance
- Price
- $873.85-$11.40 (1.29%)
- Expense ratio
- 0.14%
- Day range
- $858.10 – $887.40
- Assets
- $145.6M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2009
- Dividends
- —
- 1 month
- -0.71%
- 6 months
- -0.13%
- YTD
- +40.28%
- 1 year
- +39.70%
- 5 years
- +168.15%
Price change, excluding dividends.
Top 10 holdings
- 1EXXONMOBIL HOLDINGS ORD18.8%
- 2CHEVRON ORD18.7%
- 3CONOCOPHILLIPS ORD8.0%
- 4MARATHON PETROLEUM ORD5.4%
- 5VALERO ENERGY ORD5.3%
- 6PHILLIPS 66 ORD4.9%
- 7WILLIAMS ORD4.8%
- 8SLB ORD4.2%
- 9EOG RESOURCES ORD3.9%
- 10KINDER MORGAN CL P ORD3.3%
These 10 are 77.3% of the fund.
Where the money is invested
Countries
- United States100.0%
How to invest in XLES 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 XLES and buy
Find the fund by its ticker, XLES, on the London Stock Exchange ETF segment, and place your order.
Why invest in XLES from India
What XLES holds
This Invesco Exchange Traded Fund (ETF) aims to mirror the net total return of the S&P Select Sector Capped 20% Energy Index (referred to as the “Reference Index”), after accounting for charges. This benchmark is composed of companies within the energy segment of the S&P 500 Index.
Outside US estate tax
XLES 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
XLES 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 XLES' UCITS structure matters for Indian investors
XLES 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 XLES from India?
Yes. Indian residents can buy Invesco Energy S&P US Select Sector UCITS ETF (XLES) 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 XLES invest in?
Its largest holdings are EXXONMOBIL HOLDINGS ORD (18.8%), CHEVRON ORD (18.7%) and CONOCOPHILLIPS ORD (8.0%). The fund is domiciled in Ireland.
What is the expense ratio of XLES?
Invesco Energy S&P US Select Sector UCITS ETF has an expense ratio of 0.14% a year, taken from the fund's assets rather than billed to you. The fund manages about $145.6M.
Is XLES a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco Energy S&P US Select Sector 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 XLES?
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.