# Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD (IQMX) **Page:** https://fundology.uk/fund/iqmx · ISIN IE000U07IGB1 ## 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, IQMX (Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD, ISIN IE000U07IGB1) closed at £4.51 on the London Stock Exchange. Its ongoing charge is 0.38% a year (about £38 on £10,000). Over the year to 13/11/2026 its total return was +17.7%, or +13.6% after UK CPIH inflation. ## Summary Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD is an exchange-traded fund (ETF) from Invesco, launched in 2025. It tracks the No Underlying Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.38% a year — about £38 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: **£4.51** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | IQMX | | ISIN | IE000U07IGB1 | | Also listed as | IQMA (London Stock Exchange, US dollars), MHQA (Xetra, euros) | | Category | Emerging markets | | Type | ETF | | Provider | Invesco | | Income | Accumulating | | Ongoing charge | 0.38% a year (£38 per £10,000) | | Fund size | £146m | | Launched | 2025 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/10/2025 | ## 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 | +17.75% | +13.58% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +14.6%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2026 to 13/11/2026 | +14.6% | +10.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 20.30% | -15.80% | ## Largest fall Volatility of Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD in pounds, annualised from weekly returns to 13/11/2026: 20.3% over 1 year. Largest fall in the price of Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD since October 2025, in pounds: −15.8% from 19/06/2026 to 06/11/2026. On 13/11/2026 the price of Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD was 13.6% below its highest weekly close since October 2025 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD 0.38% a year. Compared on 14/11/2026, 77 of the 151 other emerging-market share funds charge more, 1 the same and 73 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.38%** 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 12/11/2026, IQMX holds 344 positions, according to its published holdings. The largest is TSMC at 9.38% of the fund; the ten largest make up 34.0%. ### Top holdings Largest positions (as of 12/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | TSMC | [2330](https://fundology.uk/stock/2330) | 9.38% | | 2 | Samsung Electronics | [005930](https://fundology.uk/stock/005930) | 7.76% | | 3 | SK hynix | [000660](https://fundology.uk/stock/000660) | 4.91% | | 4 | Tencent | [700](https://fundology.uk/stock/700) | 2.63% | | 5 | MediaTek | [2454](https://fundology.uk/stock/2454) | 1.73% | | 6 | ICICI Bank | [ICICIBANK](https://fundology.uk/stock/ICICIBANK) | 1.72% | | 7 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 1.71% | | 8 | China Construction Bank | [601939](https://fundology.uk/stock/601939) | 1.50% | | 9 | HDFC Bank | [HDFCBANK](https://fundology.uk/stock/HDFCBANK) | 1.38% | | 10 | Reliance Industries | [RELIANCE](https://fundology.uk/stock/RELIANCE) | 1.25% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By country Added up from the fund’s published holdings, as of 12/11/2026. | Country | Weight | |---|---| | Taiwan | 27.1% | | South Korea | 19.4% | | United States | 13.2% | | Cayman Islands | 8.8% | | China | 8.3% | | Brazil | 4.2% | | South Africa | 3.2% | | Mexico | 2.2% | | Other countries | 13.4% | | Not classified | 0.2% | ### By type of asset Added up from the fund’s published holdings, as of 12/11/2026. | Type of asset | Weight | |---|---| | Equity | 99.8% | | Cash and money market | 0.2% | The 341 holdings on record (of 344 reported): https://fundology.uk/fund/iqmx/holdings ## Questions people ask **What is the ongoing charge of IQMX?** The ongoing charge of IQMX is 0.38% a year — about £38 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 Invesco Markets II PLC - Invesco Emerging Markets Enhanced Equity UCITS ETF AccumUnhedged USD 0.38% a year. Compared on 14/11/2026, 77 of the 151 other emerging-market share funds charge more, 1 the same and 73 less (share classes counted once). **Is IQMX accumulating or distributing?** IQMX 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 IQMX?** The ISIN of IQMX is IE000U07IGB1. An ISIN identifies one exact share class of a fund; IQMX is its ticker on the London Stock Exchange. The same share class is also listed as IQMA (London Stock Exchange, US dollars) and MHQA (Xetra, euros). **What does IQMX hold?** As of 12/11/2026, IQMX holds 344 positions, according to its published holdings. The largest is TSMC at 9.38% of the fund; the ten largest make up 34.0%. Its ten largest holdings are TSMC (9.38%), Samsung Electronics (7.76%), SK hynix (4.91%), Tencent (2.63%), MediaTek (1.73%), ICICI Bank (1.72%), Alibaba Group (1.71%), China Construction Bank (1.50%), HDFC Bank (1.38%) and Reliance Industries (1.25%). **What were IQMX’s returns in each of the last five years?** Calendar-year returns of IQMX in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +14.6%. Past performance is not a guide to future returns. **How has IQMX done after inflation?** Over the year to 13/11/2026 IQMX’s total return was +17.7%, or +13.6% after UK CPIH inflation. Past performance is not a guide to future returns. --- 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.