iShares MSCI India ETF
Tracks MSCI India
The four numbers that price an ETF.
What the ETF actually owns.
From the most recent SEC N-PORT filing. The top-10 weight tells you how concentrated the fund is — broad-market trackers run 25-30%, single-theme funds often 50-70%.
| # | Holding | Weight | Value (USD) | Asset class |
|---|---|---|---|---|
| 1 | HDFC Bank Ltd | 7.33% | $679 M | EC |
| 2 | Reliance Industries Ltd | 6.17% | $571 M | EC |
| 3 | ICICI Bank Ltd | 5.28% | $488 M | EC |
| 4 | Bharti Airtel Ltd | 3.51% | $325 M | EC |
| 5 | Infosys Ltd | 3.14% | $291 M | EC |
| 6 | BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | 2.89% | $268 M | STIV |
| 7 | Axis Bank Ltd | 2.31% | $214 M | EC |
| 8 | Mahindra & Mahindra Ltd | 2.30% | $213 M | EC |
| 9 | Larsen & Toubro Ltd | 2.09% | $194 M | EC |
| 10 | Bajaj Finance Ltd | 2.03% | $188 M | EC |
| 11 | Tata Consultancy Services Ltd | 1.74% | $161 M | EC |
| 12 | Kotak Mahindra Bank Ltd | 1.65% | $153 M | EC |
| 13 | State Bank of India | 1.61% | $149 M | EC |
| 14 | Hindustan Unilever Ltd | 1.40% | $129 M | EC |
| 15 | Maruti Suzuki India Ltd | 1.36% | $126 M | EC |
| 16 | Sun Pharmaceutical Industries Ltd | 1.21% | $112 M | EC |
| 17 | NTPC Ltd | 1.21% | $112 M | EC |
| 18 | Bharat Electronics Ltd | 1.18% | $109 M | EC |
| 19 | Tata Steel Ltd | 1.16% | $107 M | EC |
| 20 | Titan Co Ltd | 1.12% | $103 M | EC |
| 21 | Shriram Finance Ltd | 1.11% | $102 M | EC |
| 22 | UltraTech Cement Ltd | 1.09% | $100 M | EC |
| 23 | Power Grid Corp of India Ltd | 1.01% | $93 M | EC |
| 24 | HCL Technologies Ltd | 0.96% | $89 M | EC |
| 25 | Hindalco Industries Ltd | 0.91% | $84 M | EC |
What we measure and what we leave out.
Data sources: SEC EDGAR N-PORT filings (holdings + filing-date timestamp); issuer fact sheets for expense ratio + AUM + inception; Yahoo Finance for daily NAV.
Expense ratio is the single biggest forward predictor of long-horizon performance. A 0.03% expense ratio compounds to a fundamentally different outcome than a 0.95% expense ratio over 25 years — even if the underlying index is identical.
Concentration risk lives in the top-10 weight. For broad-market trackers (VOO, VTI, SPY) the top-10 sits around 28-32%. For thematic funds — semiconductors, AI, cannabis — top-10 often crosses 60%. A "sector tilt" with 60% in 10 names is closer to active stock-picking than passive index exposure.
LRS + tax for Indian investors: US-listed ETFs are securities for Indian-tax purposes — held > 24 months = LTCG @ 12.5%, ≤ 24 months = slab-rate STCG. Distributions are dividends taxed at slab rates (US withholds 25%, creditable via DTAA). LRS USD 250,000 / FY cap applies to each remittance.
India-listed alternative: for S&P 500 / NASDAQ-100 exposure without LRS friction, see India-listed ETFs at /etfs/ (Motilal Oswal, Mirae, Nippon, etc. variants). Higher TER but no LRS hassle and INR-settled.
What this page does not model: tracking error vs underlying index, premium/discount to NAV, bid-ask spread on-exchange, currency-hedged variants (e.g. JPST-hedged), securities lending revenue (which subsidises some expense ratios).
ETF NAVs, tracking error and AUM are computed from AMFI disclosures. ETFs are subject to market risk and tracking-error risk. MintByte is an AMFI-registered mutual fund distributor (ARN-314872). MintByte does not issue buy/sell recommendations on specific securities — the site is an educational data and analytics platform. Not investment advice. Methodology · How we earn.