ETF · iShares
EXCS iShares MSCI EM ex-China UCITS ETF
ISIN IE00BMG6Z448London Stock Exchange: EXCSBlackRock, Inc.
- Emerging markets
- ETF
- ISA
- SIPP
- Accumulating
Latest close
LSE£6.43
on
- Ongoing charge
- 0.18% a year
- Fund size
- £3.8bn
As of , at least 15 min delayed
At a glance
As of 13/11/2026, EXCS (iShares MSCI EM ex-China UCITS ETF, ISIN IE00BMG6Z448) closed at £6.43 on the London Stock Exchange. Its ongoing charge is 0.18% a year (about £18 on £10,000). Over the five years to 13/11/2026 its total return was +58.9%, or +24.0% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +27.4%
- +22.9% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +81.0%
- +63.5% after inflation (UK CPIH)
- 5 years to 13/11/2026
- +58.9%
- +24.0% after inflation (UK CPIH)
£1,000 put in five years ago would have been worth about £1,589 on 13/11/2026 — about £1,240 in today’s spending power, once price rises are taken out. Past performance is not a guide to future returns.
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of iShares MSCI EM ex-China UCITS ETF in pounds (price, with income reinvested in the fund): 2022 −8.4%, 2023 +11.0%, 2024 +7.6%, 2025 +25.9%; 2026 to 13/11/2026 +22.7%. Returns of iShares MSCI EM ex-China UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +48.3%; to 30/09/2025: +13.0%; to 30/09/2024: +17.5%; to 30/09/2023: +4.5%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +22.7% | +18.8% | |
| to | +25.9% | +21.5% | |
| to | +7.6% | +3.9% | |
| +11.0% | +6.5% | ||
| −8.4% | −16.2% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +48.3% | +43.0% |
| from | +13.0% | +8.6% |
| from | +17.5% | +14.5% |
| from | +4.5% | −1.8% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
17.4%over 3 years
| 1 year | 23.9% |
|---|---|
| 3 years | 17.4% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since December 2021
- −18.2%
- From to
- Lowest 12-month return
- −10.4%
- 12 months to
- Highest 12-month return
- +78.5%
- 12 months to
- Below its highest weekly close since December 2021
- 14.6%
- High of , latest
In words: Volatility of iShares MSCI EM ex-China UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 23.9% over 1 year, 17.4% over 3 years. Largest fall in the price of iShares MSCI EM ex-China UCITS ETF since December 2021, in pounds: −18.2% from 19/06/2026 to 06/11/2026. The lowest 12-month return of iShares MSCI EM ex-China UCITS ETF in pounds (price, with income reinvested in the fund) since December 2021 was −10.4% (12 months to 09/12/2022); the highest was +78.5% (12 months to 19/06/2026). On 13/11/2026 the price of iShares MSCI EM ex-China UCITS ETF was 14.6% below its highest weekly close since December 2021 (19/06/2026), in pounds.
As of , price, with income reinvested in the fund
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.18%
- a year
- On £10,000
- £18
- a year, roughly
- Over five years
- £90
- of £10,000, before growth
- 16 charge less
- 11 the same
- 124 charge more
Ongoing charge of iShares MSCI EM ex-China UCITS ETF 0.18% a year. Compared on 14/11/2026, 124 of the 151 other emerging-market share funds charge more, 11 the same and 16 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
iShares MSCI EM ex-China UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2021.
It tracks the MSCI EM (Emerging Markets) ex China — companies in emerging economies such as China, India, Taiwan and Brazil.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.18% a year — about £18 a year on every £10,000 invested, taken from the fund's value rather than billed to you.
Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
Emerging markets: Companies in faster-growing but less mature economies such as China, India, Taiwan and Brazil. Prices tend to move more.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- EXCS
- ISIN
- IE00BMG6Z448
- Also listed as
- 84X0 (Xetra, euros)
- Provider
- iShares
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Accumulating
- Income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
- Ongoing charge
- 0.18% a year · about £18 on £10,000
- Fund size
- £3.8bn
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- Emerging markets
Price chart
Over the last year, the closing price went from £5.12 on 14/11/2025 to £6.43 on 13/11/2026 (+25.4%). The lowest close shown was £4.95 on 21/11/2025 and the highest £7.52 on 19/06/2026.
One close a week. Before 31/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded.
As of , at least 15 min delayed
Five years of prices, and after inflation
259 weekly closes, from 03/12/2021 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 546
- 570 reported in all
- Ten largest
- 44.1%
- of the whole fund
- Effective number of holdings
- 20
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 19.0%
- TSMC
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | TSMC2330Information Technology | 18.96% |
| 2 | Samsung Electronics005930Information Technology | 7.67% |
| 3 | SK hynix000660Information Technology | 5.43% |
| 4 | Ishares MSCI Brazil Ucits et UsdhaFinancials | 5.15% |
| 5 | MediaTek2454Information Technology | 1.77% |
| 6 | HDFC BankHDFCBANKFinancials | 1.13% |
| 7 | ICICI BankICICIBANKFinancials | 1.05% |
| 8 | Samsung Electronics005930Information Technology | 1.04% |
| 9 | Hon Hai Precision Industry2317Information Technology | 1.00% |
| 10 | Reliance IndustriesRELIANCEEnergy | 0.95% |
As of , holdings as published
Where it invests
The portfolio by sector, country and type of asset, as a share of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.
By sector
- Information Technology45.1%
- Financials19.7%
- Industrials5.9%
- Materials5.8%
- Other funds5.2%
- Consumer Discretionary4.2%
- Communication Services3.5%
- Energy2.8%
- Other sectors7.9%
By country
- Taiwan33.7%
- South Korea22.1%
- India16.9%
- Brazil5.2%
- South Africa4.4%
- Saudi Arabia3.2%
- Mexico2.4%
- United Arab Emirates1.8%
- Other countries10.3%
By type of asset
- Equity99.5%
- Cash and money market0.5%
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
More of the portfolio
The fund publishes 570 holdings; the ten largest make up 44.1% of it. The fund's portfolio is also split by currency.
Create a free account to see the full holdings list and the currency, maturity and credit-quality breakdowns
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
3 funds track MSCI EM (Emerging Markets) ex China, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.54% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi MSCI Emerging Ex China Swap UCITS ETF Acc CapitalisationAccumulating · 0.15% a year | 0.15% | +27.4% | +80.0% | +67.9% |
| iShares MSCI EM ex-China UCITS ETFThis fundAccumulating · 0.18% a year | 0.18% | +27.4% | +81.0% | +58.9% |
| Xtrackers MSCI Emerging Markets Ex China UCITS ETFAccumulating · 0.54% a year | 0.54% | +27.5% | +71.1% | +54.5% |
As of
MSCI Emerging Markets ex China funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1, 3 and 5 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 207 rolling 12-month returns since December 2021, and of 103 rolling three-year returns, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since December 2021, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Rank among similar funds
Rank by total return over 1, 3 and 5 years among up to 142 emerging-market share funds, not currency-hedged, highest first.
ProMoves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core MSCI EM IMI UCITS ETF, over the three years to 13/11/2026 (156 weeks).
Pro
Pro — currently by invitation
Pro includes the rank among similar funds and moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of EXCS?
The ongoing charge of EXCS is 0.18% a year — about £18 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares MSCI EM ex-China UCITS ETF 0.18% a year. Compared on 14/11/2026, 124 of the 151 other emerging-market share funds charge more, 11 the same and 16 less (share classes counted once).
What does EXCS track?
EXCS tracks the MSCI EM (Emerging Markets) ex China — companies in emerging economies such as China, India, Taiwan and Brazil.
Is EXCS accumulating or distributing?
EXCS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.
What is the ISIN of EXCS?
The ISIN of EXCS is IE00BMG6Z448. An ISIN identifies one exact share class of a fund; EXCS is its ticker on the London Stock Exchange. The same share class is also listed as 84X0 (Xetra, euros).
What does EXCS hold?
As of 06/11/2026, EXCS holds 570 positions, according to its published holdings. The largest is TSMC at 18.96% of the fund; the ten largest make up 44.1%. Its ten largest holdings are TSMC (18.96%), Samsung Electronics (7.67%), SK hynix (5.43%), Ishares MSCI Brazil Ucits et Usdha (5.15%), MediaTek (1.77%), HDFC Bank (1.13%), ICICI Bank (1.05%), Samsung Electronics (1.04%), Hon Hai Precision Industry (1.00%) and Reliance Industries (0.95%).
What were EXCS’s returns in each of the last five years?
Calendar-year returns of EXCS in pounds (price, with income reinvested in the fund): 2022 −8.4%, 2023 +11.0%, 2024 +7.6%, 2025 +25.9%; 2026 to 13/11/2026 +22.7%. Past performance is not a guide to future returns.
How has EXCS done after inflation?
Over the five years to 13/11/2026 EXCS’s total return was +58.9%, or +24.0% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- EMIMiShares Core MSCI EM IMI UCITS ETF0.18% a year · £31bn
- XMMSXtrackers MSCI Emerging Markets UCITS ETF0.18% a year · £9.9bn
- SEMAiShares MSCI EM UCITS ETF USD (Acc)0.18% a year · £7.6bn
- IEEMiShares MSCI EM UCITS ETF USD (Dist)0.18% a year · £7.0bn
- EDG2iShares MSCI EM CTB Enhanced ESG UCITS ETF0.23% a year · £6.0bn
- CEA1iShares MSCI EM Asia UCITS ETF0.20% a year · £5.8bn
- E127Multi Units LU - Amundi MSCI Emerging Markets II0.14% a year · £4.5bn
- LEMAMulti Units LU - Amundi MSCI Emerging Markets II Acc0.14% a year · £4.4bn
Fund documents and methods
- Fund documents
- Fund page at iShares · Key investor information document (KIID) · Factsheet (links checked )
Methodology:ReturnsCategoriesAll methods
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