London Stock Exchange ETF segment · UCITS ETF
Invest in XLFS ETF from India
Indian and foreign residents can buy Invesco Financials S&P US Select Sector UCITS ETF (XLFS) units directly through Paasa.
By Paasa · Updated
XLFS at a glance
- Price
- $424.75-$1.25 (0.29%)
- Expense ratio
- 0.14%
- Day range
- $424.45 – $429.10
- Assets
- $367.3M
- Domicile
- Ireland
- Holdings
- —
- Launched
- 2009
- Dividends
- —
- 1 month
- -7.51%
- 6 months
- +11.26%
- YTD
- -1.59%
- 1 year
- +1.59%
- 5 years
- +51.37%
Price change, excluding dividends.
Top 10 holdings
- 1JPMORGAN CHASE ORD11.9%
- 2BERKSHIRE HATHAWAY CL B ORD11.3%
- 3VISA CL A ORD7.4%
- 4MASTERCARD CL A ORD5.6%
- 5BANK OF AMERICA ORD5.1%
- 6GOLDMAN SACHS GROUP ORD3.7%
- 7WELLS FARGO ORD3.3%
- 8MORGAN STANLEY ORD3.2%
- 9CITIGROUP ORD2.9%
- 10AMERICAN EXPRESS ORD2.2%
These 10 are 56.5% of the fund.
Where the money is invested
Sectors
- Financial Services98.1%
- Technology1.6%
- Industrials0.3%
Countries
- United States96.6%
- Switzerland1.5%
- Ireland0.9%
- Bermuda0.6%
- United Kingdom0.4%
- Other0.0%
How to invest in XLFS 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 XLFS and buy
Find the fund by its ticker, XLFS, on the London Stock Exchange ETF segment, and place your order.
Why invest in XLFS from India
What XLFS holds
The Invesco Financials S&P US Select Sector UCITS ETF Acc seeks to replicate the net total return performance of the S&P Select Sector Capped 20% Financials Index, after deducting all associated fees. This benchmark index specifically represents the financial companies contained within the broader S&P 500 Index.
Outside US estate tax
XLFS 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
XLFS 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 XLFS' UCITS structure matters for Indian investors
XLFS 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 XLFS from India?
Yes. Indian residents can buy Invesco Financials S&P US Select Sector UCITS ETF (XLFS) 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 XLFS invest in?
Its largest holdings are JPMORGAN CHASE ORD (11.9%), BERKSHIRE HATHAWAY CL B ORD (11.3%) and VISA CL A ORD (7.4%). Financial Services is its largest sector at 98.1%. The fund is domiciled in Ireland.
What is the expense ratio of XLFS?
Invesco Financials 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 $367.3M.
Is XLFS a UCITS ETF, and why does that matter for Indian investors?
Yes. Invesco Financials 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 XLFS?
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.