# iShares MSCI India UCITS ETF (IIND)

**Page:** https://fundology.uk/fund/iind · ISIN IE00BZCQB185

## 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 13/11/2026, IIND (iShares MSCI India UCITS ETF, ISIN IE00BZCQB185) closed at £6.96 on the London Stock Exchange. Its ongoing charge is 0.65% a year (about £65 on £10,000). Over the five years to 13/11/2026 its total return was +15.4%, or −9.9% after UK CPIH inflation.

## Summary

iShares MSCI India UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2018. It tracks the MSCI India. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.65% a year — about £65 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: **£6.96** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | IIND |
| ISIN | IE00BZCQB185 |
| Also listed as | NDIA (London Stock Exchange, US dollars), QDV5 (Xetra, euros) |
| Category | Emerging markets |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI India |
| Income | Accumulating |
| Ongoing charge | 0.65% a year (£65 per £10,000) |
| Fund size | £4.1bn |
| Launched | 2018 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 24/05/2018 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -6.62% | -9.92% | income reinvested |
| 3 years | +11.65% | +0.87% | income reinvested |
| 5 years | +15.41% | -9.91% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares MSCI India UCITS ETF in pounds (price, with income reinvested in the fund): 2022 +2.7%, 2023 +12.5%, 2024 +13.8%, 2025 −4.5%; 2026 to 13/11/2026 −5.1%. Returns of iShares MSCI India UCITS ETF in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: −11.4%; to 30/09/2025: −12.2%; to 30/09/2024: +26.9%; to 30/09/2023: 0.0%; to 30/09/2022: +8.5%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | +2.7% | -6.0% | Price |
| 2023 | +12.5% | +8.0% | Price |
| 2024 | +13.8% | +9.9% | Price |
| 2025 | -4.5% | -7.8% | Price |
| 2026 to 13/11/2026 | -5.1% | -8.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 19.27% | -18.82% |
| 3 years | 16.51% | -23.81% |
| 5 years | 16.21% | -23.81% |

## Largest fall

Volatility of iShares MSCI India UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 19.3% over 1 year, 16.5% over 3 years, 16.2% over 5 years. Largest fall in the price of iShares MSCI India UCITS ETF since November 2021, in pounds: −23.8% from 27/09/2024 to 27/03/2026. The lowest 12-month return of iShares MSCI India UCITS ETF in pounds (price, with income reinvested in the fund) since January 2021 was −17.8% (12 months to 23/10/2026); the highest was +34.6% (12 months to 12/07/2024). On 13/11/2026 the price of iShares MSCI India UCITS ETF was 13.0% below its highest weekly close since November 2021 (26/07/2024), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI India UCITS ETF 0.65% a year. Compared on 14/11/2026, 21 of the 151 other emerging-market share funds charge more, 12 the same and 118 less (share classes counted once).

## Funds tracking the same index

5 funds track MSCI India, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.85% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Index Solutions - Amundi MSCI India Swap II UCITS ETF USD Acc | 0.80% | -6.1% | +9.1% | +11.6% |
| Amundi MSCI India Swap UCITS ETF Act -USD Acc- | 0.85% | -7.1% | +10.7% | +11.4% |
| iShares MSCI India UCITS ETF (this fund) | 0.65% | -6.6% | +11.6% | +15.4% |
| UBS (Irl) Fund Solutions PLC - UBS MSCI INDIA SF UCITS ETF Accum USD | 0.15% | -3.8% | — | — |
| Xtrackers MSCI INDIA SWAP UCITS ETF Capitalisation 1C | 0.19% | -6.3% | +10.1% | +12.6% |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.65%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, IIND holds 165 positions, according to its published holdings. The largest is HDFC Bank at 6.64% of the fund; the ten largest make up 35.7%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 6.64% |
| 2 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 6.16% |
| 3 | Reliance Industries | [RELIANCE](https://fundology.uk/stock/RELIANCE) | 5.61% |
| 4 | Bharti Airtel | [BHARTIARTL](https://fundology.uk/stock/BHARTIARTL) | 4.37% |
| 5 | Infosys | [INFY](https://fundology.uk/stock/INFY) | 2.66% |
| 6 | Axis Bank | [AXISBANK](https://fundology.uk/stock/AXISBANK) | 2.20% |
| 7 | Mahindra & Mahindra | [M&M](https://fundology.uk/stock/M%26M) | 2.11% |
| 8 | Larsen & Toubro | [LT](https://fundology.uk/stock/LT) | 2.05% |
| 9 | Bajaj Finance | [BAJFINANCE](https://fundology.uk/stock/BAJFINANCE) | 2.00% |
| 10 | Kotak Mahindra Bank | [KOTAKBANK](https://fundology.uk/stock/KOTAKBANK) | 1.94% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 06/11/2026.

| Sector | Weight |
|---|---|
| Financials | 30.7% |
| Consumer Discretionary | 12.9% |
| Industrials | 10.2% |
| Materials | 8.3% |
| Energy | 7.8% |
| Information Technology | 7.4% |
| Health Care | 6.9% |
| Communication Services | 5.4% |
| Other sectors | 10.4% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.8% |
| Cash and money market | 0.2% |

All 166 holdings: https://fundology.uk/fund/iind/holdings

## Questions people ask

**What is the ongoing charge of IIND?**

The ongoing charge of IIND is 0.65% a year — about £65 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 India UCITS ETF 0.65% a year. Compared on 14/11/2026, 21 of the 151 other emerging-market share funds charge more, 12 the same and 118 less (share classes counted once).

**What does IIND track?**

IIND tracks the MSCI India.

**Is IIND accumulating or distributing?**

IIND 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 IIND?**

The ISIN of IIND is IE00BZCQB185. An ISIN identifies one exact share class of a fund; IIND is its ticker on the London Stock Exchange. The same share class is also listed as NDIA (London Stock Exchange, US dollars) and QDV5 (Xetra, euros).

**What does IIND hold?**

As of 06/11/2026, IIND holds 165 positions, according to its published holdings. The largest is HDFC Bank at 6.64% of the fund; the ten largest make up 35.7%. Its ten largest holdings are HDFC Bank (6.64%), ICICI Bank (6.16%), Reliance Industries (5.61%), Bharti Airtel (4.37%), Infosys (2.66%), Axis Bank (2.20%), Mahindra & Mahindra (2.11%), Larsen & Toubro (2.05%), Bajaj Finance (2.00%) and Kotak Mahindra Bank (1.94%).

**What were IIND’s returns in each of the last five years?**

Calendar-year returns of IIND in pounds (price, with income reinvested in the fund): 2022 +2.7%, 2023 +12.5%, 2024 +13.8%, 2025 −4.5%; 2026 to 13/11/2026 −5.1%. Past performance is not a guide to future returns.

**How has IIND done after inflation?**

Over the five years to 13/11/2026 IIND’s total return was +15.4%, or −9.9% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/297617/ishares-msci-india-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-india-ucits-etf-usd-acc-gb-ie00bzcqb185-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/ndia-ishares-msci-india-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.