# iShares MSCI World ex-USA UCITS ETF AccumUSD (XUSE)

**Page:** https://fundology.uk/fund/xuse · ISIN IE000R4ZNTN3

## 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, XUSE (iShares MSCI World ex-USA UCITS ETF AccumUSD, ISIN IE000R4ZNTN3) closed at £5.34 on the London Stock Exchange. Its ongoing charge is 0.16% a year (about £16 on £10,000). Over the year to 13/11/2026 its total return was +12.3%, or +8.4% after UK CPIH inflation.

## Summary

iShares MSCI World ex-USA UCITS ETF AccumUSD is an exchange-traded fund (ETF) from iShares, launched in 2025. It tracks the MSCI World ex USA — about 1,300 large and medium-sized companies in 23 developed countries, around 70% of it in the US. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.16% a year — about £16 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: **£5.34** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | XUSE |
| ISIN | IE000R4ZNTN3 |
| Also listed as | IXUA (Xetra, euros) |
| Category | Global shares |
| Type | ETF |
| Provider | iShares |
| Tracks | MSCI World ex USA |
| Income | Accumulating |
| Ongoing charge | 0.16% a year (£16 per £10,000) |
| Fund size | £2.9bn |
| Launched | 2025 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 23/01/2025 |

## 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 | +12.34% | +8.36% | income reinvested |

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

## Calendar-year returns

Calendar-year returns of iShares MSCI World ex-USA UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +11.7%. Returns of iShares MSCI World ex-USA UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +15.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2026 to 13/11/2026 | +11.7% | +8.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 12.47% | -9.58% |

## Largest fall

Volatility of iShares MSCI World ex-USA UCITS ETF AccumUSD in pounds, annualised from weekly returns to 13/11/2026: 12.5% over 1 year. Largest fall in the price of iShares MSCI World ex-USA UCITS ETF AccumUSD since April 2025, in pounds: −9.6% from 27/02/2026 to 20/03/2026. On 13/11/2026 the price of iShares MSCI World ex-USA UCITS ETF AccumUSD was 1.9% below its highest weekly close since April 2025 (14/08/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares MSCI World ex-USA UCITS ETF AccumUSD 0.16% a year. Compared on 14/11/2026, 159 of the 207 other global share funds charge more, 3 the same and 45 less (share classes counted once).

## Funds tracking the same index

5 funds track MSCI World ex USA, this one included and share classes counted once; their ongoing charges range from 0.15% to 0.16% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi MSCI World ex USA UCITS ETF | 0.15% | +11.7% | — | — |
| iShares III PLC - MSCI World ex-USA UCITS ETF USD | 0.16% | — | — | — |
| iShares MSCI World ex-USA UCITS ETF AccumUSD (this fund) | 0.16% | +12.3% | — | — |
| Xtrackers (IE) plc - Xtrackers MSCI World ex USA UCITS ETF -1D- USD | 0.15% | +10.1% | — | — |
| Xtrackers MSCI World ex USA UCITS ETF 1C USD | 0.15% | +12.6% | — | — |

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

## Charges & eligibility

- Ongoing charges figure (OCF): **0.16%** 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

As of 06/11/2026, XUSE holds 732 positions, according to its published holdings. The largest is ASML at 2.31% of the fund; the ten largest make up 12.7%.

### Top holdings

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

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | ASML | [ASML](https://fundology.uk/stock/ASML) | 2.31% |
| 2 | Roche Ps Par | — | 1.39% |
| 3 | HSBC | [HSBA](https://fundology.uk/stock/HSBA) | 1.25% |
| 4 | Novartis | [NOVN](https://fundology.uk/stock/NOVN) | 1.24% |
| 5 | Shell | [SHEL](https://fundology.uk/stock/SHEL) | 1.20% |
| 6 | AstraZeneca | [AZN](https://fundology.uk/stock/AZN) | 1.17% |
| 7 | Royal Bank of Canada | [RY](https://fundology.uk/stock/RY) | 1.16% |
| 8 | Nestle | [NESN](https://fundology.uk/stock/NESN) | 1.12% |
| 9 | SAP | [SAP](https://fundology.uk/stock/SAP) | 0.99% |
| 10 | Mitsubishi UFJ Financial Group | [8306](https://fundology.uk/stock/8306) | 0.91% |

## 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 | 27.6% |
| Industrials | 16.9% |
| Health Care | 10.0% |
| Information Technology | 9.1% |
| Consumer Discretionary | 7.9% |
| Materials | 7.1% |
| Consumer Staples | 6.8% |
| Energy | 5.7% |
| Other sectors | 9.0% |

### By country

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

| Country | Weight |
|---|---|
| Japan | 19.7% |
| United Kingdom | 13.0% |
| Canada | 12.7% |
| Switzerland | 8.7% |
| France | 8.5% |
| Germany | 7.8% |
| Australia | 5.8% |
| Netherlands | 4.7% |
| Other countries | 19.1% |

### By type of asset

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

| Type of asset | Weight |
|---|---|
| Equity | 99.6% |
| Cash and money market | 0.4% |

All 737 holdings: https://fundology.uk/fund/xuse/holdings

## Questions people ask

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

The ongoing charge of XUSE is 0.16% a year — about £16 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 World ex-USA UCITS ETF AccumUSD 0.16% a year. Compared on 14/11/2026, 159 of the 207 other global share funds charge more, 3 the same and 45 less (share classes counted once).

**What does XUSE track?**

XUSE tracks the MSCI World ex USA — about 1,300 large and medium-sized companies in 23 developed countries, around 70% of it in the US.

**Is XUSE accumulating or distributing?**

XUSE 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 XUSE?**

The ISIN of XUSE is IE000R4ZNTN3. An ISIN identifies one exact share class of a fund; XUSE is its ticker on the London Stock Exchange. The same share class is also listed as IXUA (Xetra, euros).

**What does XUSE hold?**

As of 06/11/2026, XUSE holds 732 positions, according to its published holdings. The largest is ASML at 2.31% of the fund; the ten largest make up 12.7%. Its ten largest holdings are ASML (2.31%), Roche Ps Par (1.39%), HSBC (1.25%), Novartis (1.24%), Shell (1.20%), AstraZeneca (1.17%), Royal Bank of Canada (1.16%), Nestle (1.12%), SAP (0.99%) and Mitsubishi UFJ Financial Group (0.91%).

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

Calendar-year returns of XUSE in pounds (price, with income reinvested in the fund): 2026 to 13/11/2026 +11.7%. Past performance is not a guide to future returns.

**How has XUSE done after inflation?**

Over the year to 13/11/2026 XUSE’s total return was +12.3%, or +8.4% 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/340748/ishares-msci-world-ex-usa-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-msci-world-ex-usa-ucits-etf-usd-acc-gb-ie000r4zntn3-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/xuse-ishares-msci-world-ex-usa-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.