# Xtrackers MSCI Emerging Markets Swap UCITS ETF (XMCM) **Page:** https://fundology.uk/fund/xmcm · ISIN LU2675291913 ## 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, XMCM (Xtrackers MSCI Emerging Markets Swap UCITS ETF, ISIN LU2675291913) closed at $14.50 on the London Stock Exchange. Its ongoing charge is 0.12% a year (about £12 on £10,000). Over the three years to 13/11/2026 its price changed by +51.3% (income paid out is not included), or +36.7% after UK CPIH inflation. ## Summary Xtrackers MSCI Emerging Markets Swap UCITS ETF is an exchange-traded fund (ETF) from Xtrackers, launched in 2023. It tracks the MSCI EM (Emerging Markets) — 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 0.12% a year — about £12 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. Latest close: **$14.50** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | XMCM | | ISIN | LU2675291913 | | Category | Emerging markets | | Type | ETF | | Provider | Xtrackers | | Tracks | MSCI EM (Emerging Markets) | | Income | Distributing | | Ongoing charge | 0.12% a year (£12 per £10,000) | | Fund size | £187m | | Launched | 2023 | | Domicile | Luxembourg | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/01/2023 | ## 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 | +14.24% | +10.19% | income reinvested | | 3 years | +51.29% | +36.69% | price only | Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Xtrackers MSCI Emerging Markets Swap UCITS ETF in pounds (price only, income paid out not included): 2024 +9.0%, 2025 +23.2%; 2026 to 13/11/2026 +9.0%. Returns of Xtrackers MSCI Emerging Markets Swap UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +25.7%; to 30/09/2025: +15.6%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2024 | +9.0% | +5.3% | Price | | 2025 | +23.2% | +19.0% | Price | | 2026 to 13/11/2026 | +9.0% | +5.5% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 19.58% | -16.44% | | 3 years | 16.04% | -16.44% | ## Largest fall Volatility of Xtrackers MSCI Emerging Markets Swap UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 19.6% over 1 year, 16.0% over 3 years. Largest fall in the price of Xtrackers MSCI Emerging Markets Swap UCITS ETF since November 2023, in pounds: −16.4% from 19/06/2026 to 06/11/2026. The lowest 12-month return of Xtrackers MSCI Emerging Markets Swap UCITS ETF in pounds (price only, income paid out not included) since November 2023 was −3.9% (12 months to 04/04/2025); the highest was +54.4% (12 months to 19/06/2026). On 13/11/2026 the price of Xtrackers MSCI Emerging Markets Swap UCITS ETF was 14.0% below its highest weekly close since November 2023 (19/06/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Xtrackers MSCI Emerging Markets Swap UCITS ETF 0.12% a year. Compared on 14/11/2026, 147 of the 151 other emerging-market share funds charge more, 1 the same and 3 less (share classes counted once). ## Funds tracking the same index 20 funds track MSCI EM (Emerging Markets), this one included and share classes counted once; their ongoing charges range from 0.09% to 0.55% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | Amundi Core MSCI Emerging Markets -UCITS ETF DR- Capitalisation | 0.18% | +11.8% | +59.0% | +37.7% | | Amundi Core MSCI Emerging Markets -UCITS ETF DR- Distribution | 0.24% | +11.4% | +62.1% | +37.5% | | Amundi MSCI Emerging Markets Swap -UCITS ETF USD C- Capitalisation | 0.20% | +13.7% | +63.6% | +40.6% | | Amundi MSCI Emerging Markets Swap II UCITS ETF Act -USD Acc- | 0.55% | +11.5% | +61.8% | +35.6% | | BNP PARIBAS EASY MSCI EMERGING Capitalisation -UCITS ETF- | 0.09% | — | — | — | | HSBC MSCI Emerging Markets UCITS ETF | 0.15% | +13.7% | +62.6% | +39.9% | | HSBC MSCI EMERGING MARKETS UCITS ETF AccumUSD | 0.15% | +13.7% | — | — | | Invesco MSCI Emerging Markets UCITS ETF | 0.19% | +13.4% | +62.3% | +39.0% | | iShares MSCI EM UCITS ETF USD (Acc) | 0.18% | +13.5% | +63.8% | +41.0% | | iShares MSCI EM UCITS ETF USD (Dist) | 0.18% | +13.5% | +63.7% | +40.8% | | iShares VI PLC - iShares MSCI EM Swap UCITS ETF Accum- USD | 0.14% | — | — | — | | Multi Units LU - Amundi MSCI Emerging Markets II | 0.14% | +13.7% | +64.1% | — | | Multi Units LU - Amundi MSCI Emerging Markets II Acc | 0.14% | +14.3% | +64.2% | — | | State Street SPDR MSCI Emerging Markets UCITS ETF Accum.Shs USD | 0.18% | +12.2% | +60.6% | +38.4% | | UBS (Irl) Fund Solutions PLC - UBS MSCI EM SF UCITS ETF Accum Shs USD | 0.14% | +13.6% | +58.7% | +40.7% | | UBS ETF SICAV - UBS ETF - MSCI Emerging Markets UCITS ETF A Distribution | 0.15% | +11.9% | +64.0% | +39.7% | | Xtrackers MSCI Emerging Markets Swap UCITS ETF (this fund) | 0.12% | +14.2% | — | — | | Xtrackers MSCI Emerging Markets Swap UCITS ETF Capitalisation 1C | 0.12% | +13.5% | +62.6% | +39.3% | | Xtrackers MSCI Emerging Markets UCITS ETF | 0.18% | +13.5% | +63.6% | +40.3% | | Xtrackers MSCI Emerging Markets UCITS ETF USD | 0.18% | +14.1% | +63.7% | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.12%** per year (as of 13/11/2026) - 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 XMCM is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 15/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. ### Top holdings Largest positions (as of 15/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Amazon | [AMZN](https://fundology.uk/stock/AMZN) | 6.13% | | 2 | Seagate Technology | [STX](https://fundology.uk/stock/STX) | 5.39% | | 3 | Linde | [LIN](https://fundology.uk/stock/LIN) | 4.10% | | 4 | Palo Alto Networks | [PANW](https://fundology.uk/stock/PANW) | 3.91% | | 5 | Aker BP | [AKRBP](https://fundology.uk/stock/AKRBP) | 3.73% | | 6 | NVIDIA | [NVDA](https://fundology.uk/stock/NVDA) | 3.25% | | 7 | Waste Management | [WM](https://fundology.uk/stock/WM) | 3.14% | | 8 | Walmart | [WMT](https://fundology.uk/stock/WMT) | 2.69% | | 9 | Space Exploration Technologies | [SPCX](https://fundology.uk/stock/SPCX) | 2.60% | | 10 | Automatic Data Processing | [ADP](https://fundology.uk/stock/ADP) | 2.12% | The 181 holdings on record (of 196 reported): https://fundology.uk/fund/xmcm/holdings ## Questions people ask **What is the ongoing charge of XMCM?** The ongoing charge of XMCM is 0.12% a year — about £12 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 Xtrackers MSCI Emerging Markets Swap UCITS ETF 0.12% a year. Compared on 14/11/2026, 147 of the 151 other emerging-market share funds charge more, 1 the same and 3 less (share classes counted once). **What does XMCM track?** XMCM tracks the MSCI EM (Emerging Markets) — companies in emerging economies such as China, India, Taiwan and Brazil. **Is XMCM accumulating or distributing?** XMCM is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly. **What is the ISIN of XMCM?** The ISIN of XMCM is LU2675291913. An ISIN identifies one exact share class of a fund; XMCM is its ticker on the London Stock Exchange. **What does XMCM hold?** XMCM is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 15/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. **What were XMCM’s returns in each of the last five years?** Calendar-year returns of XMCM in pounds (price only, income paid out not included): 2024 +9.0%, 2025 +23.2%; 2026 to 13/11/2026 +9.0%. Past performance is not a guide to future returns. **How has XMCM done after inflation?** Over the three years to 13/11/2026 XMCM’s price changed by +51.3% (income paid out is not included), or +36.7% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/LU2675291913-msci-emerging-markets-swap-ucits-etf-1d/) - Links checked 12/10/2026. --- 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.