ETF · Xtrackers
XUSW Xtrackers MSCI USA Swap UCITS ETF
ISIN LU2581375073London Stock Exchange: XUSWDeutsche Bank AG
Latest close
LSE£103.58
on
- Ongoing charge
- 0.07% a year
- Fund size
- £2.4bn
As of , at least 15 min delayed
At a glance
As of 13/11/2026, XUSW (Xtrackers MSCI USA Swap UCITS ETF, ISIN LU2581375073) closed at £103.58 on the London Stock Exchange. Its ongoing charge is 0.07% a year (about £7 on £10,000). Over the three years to 13/11/2026 its price changed by +59.4% (income paid out is not included), or +44.0% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- +10.9%
- +7.0% after inflation (UK CPIH)
- 3 years to 13/11/2026
- +59.4%
- +44.0% after inflation (UK CPIH)
Returns: as reported (delayed data) and worked out from recorded daily closes. Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Xtrackers MSCI USA Swap UCITS ETF in pounds (price only, income paid out not included): 2024 +27.3%, 2025 +6.3%; 2026 to 13/11/2026 +12.1%. Returns of Xtrackers MSCI USA Swap UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +15.9%; to 30/09/2025: +17.3%; to 30/09/2024: +21.4%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | +12.1% | +8.5% | |
| to | +6.3% | +2.7% | |
| to | +27.3% | +23.0% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | +15.9% | +11.8% |
| from | +17.3% | +12.7% |
| from | +21.4% | +18.3% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
12.9%over 3 years
| 1 year | 11.3% |
|---|---|
| 3 years | 12.9% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since March 2023
- −19.4%
- From to
- Lowest 12-month return
- −2.8%
- 12 months to
- Highest 12-month return
- +32.6%
- 12 months to
- Below its highest weekly close since March 2023
- 3.5%
- High of , latest
In words: Volatility of Xtrackers MSCI USA Swap UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 11.3% over 1 year, 12.9% over 3 years. Largest fall in the price of Xtrackers MSCI USA Swap UCITS ETF since March 2023, in pounds: −19.4% from 17/01/2025 to 18/04/2025. The lowest 12-month return of Xtrackers MSCI USA Swap UCITS ETF in pounds (price only, income paid out not included) since March 2023 was −2.8% (12 months to 11/04/2025); the highest was +32.6% (12 months to 22/11/2024). On 13/11/2026 the price of Xtrackers MSCI USA Swap UCITS ETF was 3.5% below its highest weekly close since March 2023 (09/10/2026), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.07%
- a year
- On £10,000
- £7
- a year, roughly
- Over five years
- £35
- of £10,000, before growth
- 37 charge less
- 16 the same
- 201 charge more
Ongoing charge of Xtrackers MSCI USA Swap UCITS ETF 0.07% a year. Compared on 14/11/2026, 201 of the 254 other US share funds charge more, 16 the same and 37 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Xtrackers MSCI USA Swap UCITS ETF is an exchange-traded fund (ETF) from Xtrackers, launched in 2023.
It tracks the MSCI USA.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.07% a year — about £7 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.
US shares: American companies, including the S&P 500 and Nasdaq-100 — the largest stock market in the world.
Terms:ETFIndex fundUCITSAccumulating or incomeShare classISIN
Key facts
- Ticker
- XUSW
- ISIN
- LU2581375073
- Also listed as
- XUSD (London Stock Exchange, US dollars)
- Provider
- Xtrackers
- Tracks
- MSCI USA
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid quarterly
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.07% a year · about £7 on £10,000
- Fund size
- £2.4bn
- Launched
- Domicile
- Luxembourg
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- No
- Price currency
- Pounds (GBP)
- Category
- US shares
Price chart
Over the last year, the closing price went from £93.67 on 14/11/2025 to £103.58 on 13/11/2026 (+10.6%). The lowest close shown was £87.69 on 27/03/2026 and the highest £107.31 on 09/10/2026.
One close a week. Before 31/07/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
191 weekly closes, from 24/03/2023 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 244
- 258 reported in all
- Ten largest
- 32.2%
- of the whole fund
- Effective number of holdings
- 57
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 6.7%
- NVIDIA
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | NVIDIANVDAInformation TechnologyUnited States | 6.74% |
| 2 | AmazonAMZNConsumer DiscretionaryUnited States | 4.18% |
| 3 | Alphabet · Class AGOOGLCommunication ServicesUnited States | 3.35% |
| 4 | Berkshire Hathaway · Class BBRK.BFinancialsUnited States | 3.25% |
| 5 | TeslaTSLAConsumer DiscretionaryUnited States | 2.82% |
| 6 | ASMLASMLInformation TechnologyNetherlands | 2.72% |
| 7 | Analog DevicesADIInformation TechnologyUnited States | 2.36% |
| 8 | MicrosoftMSFTInformation TechnologyUnited States | 2.35% |
| 9 | Micron TechnologyMUInformation TechnologyUnited States | 2.22% |
| 10 | IntelINTCInformation TechnologyUnited States | 2.17% |
As of , holdings as published
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
All holdings
The fund publishes 258 holdings; the ten largest make up 32.2% of it.
Create a free account to see the full holdings list
Sign-up takes an email address. There is no card to enter and nothing to pay.
Sector split
As a share of the whole fund. 99.6% of it is classified by sector; bonds, cash and positions that cannot be matched are left out rather than guessed.
- Electronic Technology30.7%
- Technology Services17.5%
- Finance10.6%
- Health Technology7.8%
- Retail Trade6.9%
- Producer Manufacturing4.9%
- Consumer Services3.2%
- Consumer Durables2.9%
- Other classified sectors15.1%
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
18 funds track MSCI USA, this one included and share classes counted once; their ongoing charges range from 0.03% to 0.30% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi Core MSCI USA UCITS ETF USDDistributing · 0.03% a year | 0.03% | +10.6% | Not reported | Not reported |
| Amundi Core MSCI USA Swap -UCITS ETF GBP H D- DistributionDistributing · Currency hedged · 0.07% a year | 0.07% | Not reported | Not reported | Not reported |
| Amundi Core MSCI USA Swap Capitalisation -UCITS ETF A-Accumulating · 0.05% a year | 0.05% | Not reported | Not reported | Not reported |
| Deka MSCI USA UCITS ETFDistributing · 0.30% a year | 0.30% | +5.0% | +56.0% | +59.8% |
| Invesco MSCI USA UCITS ETF AccAccumulating · 0.05% a year | 0.05% | +11.6% | +65.7% | +73.6% |
| Invesco MSCI USA UCITS ETF USDDistributing · 0.05% a year | 0.05% | +11.5% | +65.5% | +73.5% |
| iShares MSCI USA Swap UCITS ETF AccumUSDAccumulating · 0.05% a year | 0.05% | +11.0% | Not reported | Not reported |
| iShares MSCI USA Swap UCITS ETF Hedged GBPDistributing · Currency hedged · 0.05% a year | 0.05% | +11.5% | Not reported | Not reported |
| iShares MSCI USA UCITS ETFAccumulating · 0.07% a year | 0.07% | +10.9% | +65.0% | +71.7% |
| UBS MSCI USA SF UCITS ETFAccumulating · 0.15% a year | 0.15% | +8.1% | +60.1% | +64.7% |
| UBS Core MSCI USA UCITS ETF Accum -A- USDAccumulating · 0.03% a year | 0.03% | +11.5% | Not reported | +72.2% |
| UBS Core MSCI USA UCITS ETF Class -A- USDDistributing · 0.03% a year | 0.03% | +10.9% | +65.1% | +71.8% |
| UBS ETF - MSCI USA UCITS ETF A DistributionDistributing · 0.14% a year | 0.14% | +10.8% | +60.1% | +69.5% |
| Xtrackers MSCI USA Swap II UCITS ETF Accum-1C- USDAccumulating · 0.04% a year | 0.04% | Not reported | Not reported | Not reported |
| Xtrackers MSCI USA Swap II UCITS ETF -1D- USDDistributing · 0.04% a year | 0.04% | Not reported | Not reported | Not reported |
| Xtrackers MSCI USA Swap UCITS ETFThis fundDistributing · 0.07% a year | 0.07% | +10.9% | Not reported | Not reported |
| Xtrackers MSCI USA SWAP UCITS ETF Capitalisation 1CAccumulating · 0.15% a year | 0.15% | +10.8% | +65.2% | +72.5% |
| Xtrackers MSCI USA UCITS ETFAccumulating · 0.04% a year | 0.04% | +10.8% | +64.9% | +71.8% |
As of
MSCI USA funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
- Xtrackers MSCI USA Swap II UCITS ETF Accum-1C- USDAccumulating · 0.04% a year · IE000PDUVTF3
- Xtrackers MSCI USA Swap II UCITS ETF -1D- USDDistributing · 0.04% a year · IE000FW16TX1
- Xtrackers MSCI USA SWAP UCITS ETF Capitalisation 1CAccumulating · 0.15% a year · LU0274210672
- Xtrackers MSCI USA UCITS ETFAccumulating · 0.04% a year · IE00BJ0KDR00
Read more:Share classesAccumulating or incomeCurrency hedging
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 and 3 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 139 rolling 12-month returns since March 2023, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 3 largest falls since March 2023, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Rank among similar funds
Rank by total return over 1 year among up to 192 US share funds, not currency-hedged, highest first.
ProMoves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core S&P 500 UCITS ETF, over the three years to 13/11/2026 (154 weeks).
Pro
Pro — currently by invitation
Pro includes the rank among similar funds and moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of XUSW?
The ongoing charge of XUSW is 0.07% a year — about £7 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 USA Swap UCITS ETF 0.07% a year. Compared on 14/11/2026, 201 of the 254 other US share funds charge more, 16 the same and 37 less (share classes counted once).
What does XUSW track?
XUSW tracks the MSCI USA.
Is XUSW accumulating or distributing?
XUSW 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 XUSW?
The ISIN of XUSW is LU2581375073. An ISIN identifies one exact share class of a fund; XUSW is its ticker on the London Stock Exchange. The same share class is also listed as XUSD (London Stock Exchange, US dollars).
What does XUSW hold?
XUSW 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 XUSW’s returns in each of the last five years?
Calendar-year returns of XUSW in pounds (price only, income paid out not included): 2024 +27.3%, 2025 +6.3%; 2026 to 13/11/2026 +12.1%. Past performance is not a guide to future returns.
How has XUSW done after inflation?
Over the three years to 13/11/2026 XUSW’s price changed by +59.4% (income paid out is not included), or +44.0% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- CSP1iShares Core S&P 500 UCITS ETF0.07% a year · £116bn
- VUSAVanguard S&P 500 UCITS ETF0.07% a year · £40bn
- SPXPInvesco S&P 500 UCITS ETF0.05% a year · £31bn
- VUAGVanguard S&P 500 UCITS ETF Acc0.07% a year · £29bn
- CNX1iShares NASDAQ 100 UCITS ETF USD0.30% a year · £21bn
- IUSAiShares Core S&P 500 UCITS ETF USD (Dist)0.07% a year · £17bn
- SPX5State Street SPDR S&P 500 UCITS ETF USD0.03% a year · £16bn
- SPXLState Street SPDR S&P 500 UCITS ETF0.03% a year · £15bn
Fund documents and methods
- Fund documents
- Fund page at Xtrackers (DWS) (links checked )
Methodology:ReturnsCategoriesAll methods
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