# iShares MSCI EM ex-China UCITS ETF (EXCS) **Source:** https://fundology.uk/fund/excs · ISIN IE00BMG6Z448 · Data: TradingView (LSE closes and returns, delayed), issuer documents, ONS CPIH, FCA FIRDS ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 30/09/2026, EXCS (iShares MSCI EM ex-China UCITS ETF, ISIN IE00BMG6Z448) closed at £7.12 on the London Stock Exchange. Its ongoing charge is 0.25% a year (about £25 on £10,000). Over the five years to 30/09/2026 its total return was +78.7%, or +39.7% after UK CPIH inflation. ## Summary 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 0.25% a year — about £25 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. Latest close: **£7.12** (30/09/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | EXCS | | ISIN | IE00BMG6Z448 | | Category | Emerging markets | | Type | ETF | | Provider | iShares | | Tracks | MSCI EM (Emerging Markets) ex China | | Income | Accumulating | | Ongoing charge | 0.25% a year (£25 per £10,000) | | Fund size | £3.3bn | | Launched | 2021 | | Domicile | Ireland | ## Past returns (periods to 30/09/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after ONS CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +55.29% | +50.42% | income reinvested | | 3 years | +102.52% | +82.75% | income reinvested | | 5 years | +78.74% | +39.72% | income reinvested | Returns: TradingView (delayed data). Inflation: ONS CPIH, latest month published. ## Calendar-year 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 +5.6%, 2025 +24.3%; 2026 to 30/09/2026 +40.2%. 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: +52.1%; to 30/09/2025: +10.1%; to 30/09/2024: +17.5%; to 30/09/2023: +4.5%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -8.4% | -16.2% | Price | | 2023 | +11.0% | +6.5% | Price | | 2024 | +5.6% | +2.0% | Price | | 2025 | +24.3% | +20.0% | Price | | 2026 to 30/09/2026 | +40.2% | +36.3% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 22.47% | -13.60% | | 3 years | 16.69% | -14.60% | ## Largest fall Volatility of iShares MSCI EM ex-China UCITS ETF in pounds, annualised from weekly returns to 30/09/2026: 22.5% over 1 year, 16.7% over 3 years. Largest fall in the price of iShares MSCI EM ex-China UCITS ETF since December 2021, in pounds: −14.6% from 12/07/2024 to 04/04/2025. 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 30/09/2026 the price of iShares MSCI EM ex-China UCITS ETF was 5.4% below its highest weekly close since December 2021 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of iShares MSCI EM ex-China UCITS ETF 0.25% a year, as of 01/10/2026: 89 of the 140 other emerging-market share funds charge more, 8 the same and 43 less (share classes counted once). ## Funds tracking the same index 4 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 (30/09/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi MSCI Emerging ex China Swap UCITS ETF Acc | 0.15% | +53.1% | +97.7% | +88.0% | | BNP Paribas Easy SICAV - MSCI Emerging ex China Capitalisation -UCITS ETF- | — | — | — | — | | iShares MSCI EM ex-China UCITS ETF (this fund) | 0.25% | +55.3% | +102.5% | +78.7% | | Xtrackers MSCI Emerging Markets Ex China UCITS ETF | 0.54% | +53.9% | +87.3% | +78.3% | Returns are the data vendor’s, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.25%** per year - ISA eligible: yes - SIPP eligible: yes ## Top holdings Largest positions (as of 29/09/2026): | Holding | Weight | |---|---| | TSMC | 19.34% | | Samsung Electronics | 9.52% | | SK hynix | 7.28% | | Ishares MSCI Brazil Ucits et Usdha | 4.93% | | MediaTek | 2.25% | | Samsung Electronics | 1.22% | | Delta Electronics | 1.13% | | Hon Hai Precision Industry | 0.98% | | HDFC Bank | 0.86% | | SK Square | 0.77% | ## Where it invests Shares of the whole fund. Bonds, cash and positions the source does not classify are shown as they come, not guessed. ### By sector As published by iShares, as of 29/09/2026. | Sector | Weight | |---|---| | Information Technology | 51.5% | | Financials | 21.9% | | Industrials | 6.1% | | Materials | 5.1% | | Consumer Discretionary | 3.5% | | Communication Services | 2.8% | | Energy | 2.4% | | Consumer Staples | 2.3% | | Other sectors | 4.3% | ### By country As published by iShares, as of 29/09/2026. | Country | Weight | |---|---| | Taiwan | 35.7% | | South Korea | 26.8% | | India | 13.2% | | Germany | 4.9% | | South Africa | 3.7% | | Saudi Arabia | 2.9% | | Mexico | 2.0% | | United Arab Emirates | 1.6% | | Other countries | 9.3% | ### By type of asset Added up from the holdings iShares publishes, as of 29/09/2026. | Type of asset | Weight | |---|---| | Equity | 99.7% | | Cash and money market | 0.5% | All 559 holdings: https://fundology.uk/fund/excs/holdings --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.