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From 13 October 2026, you can invest in the S&P 500, the Nasdaq-100 and the MSCI World on SGX, in Singapore dollars, through your Phillip Nova account on NOVA.
DWS is cross-listing four of its existing Ireland-domiciled Xtrackers UCITS ETFs on the Singapore Exchange. Each fund holds the actual stocks in its index, reinvests dividends automatically, and trades during Singapore market hours. All four will be available on the NOVA trading platform from listing day.
The four ETFs at a glance
All four are Irish-domiciled, UCITS-compliant, physically replicated and accumulating, and all trade and settle in SGD on SGX.
What does this mean?
- Irish-domiciled: the fund is legally based in Ireland. This is why it can benefit from the lower 15% US dividend withholding tax.
- UCITS-compliant: the fund follows an EU regulatory framework with rules on diversification, safekeeping of assets and investor disclosure.
- Physically replicated: the fund buys the actual stocks in its index, rather than using derivatives to copy the index’s returns.
- Accumulating: the fund reinvests dividends instead of paying them out to you in cash.
- Trades and settles in SGD on SGX: you buy and sell in Singapore dollars, just like any SGX-listed stock. Currency risk remains, because the underlying stocks are priced in other currencies.
SGX ticker | ETF | Index tracked | TER (p.a.) | Role in a portfolio |
XWR | Xtrackers MSCI World UCITS ETF | MSCI World | 0.12% | Global core: large and mid-cap companies across 23 developed markets |
XUS | Xtrackers S&P 500 UCITS ETF | S&P 500 | 0.03% | US core: low-cost exposure to 500 leading US companies |
EUS | Xtrackers S&P 500 Equal Weight UCITS ETF | S&P 500 Equal Weight | 0.15% | Diversification tilt: each company is reset to about 0.2% at every quarterly rebalance, reducing reliance on the largest names |
XND | Xtrackers Nasdaq 100 UCITS ETF | Nasdaq-100 | 0.20% | Growth satellite: the 100 largest non-financial companies on Nasdaq, with a heavy technology tilt |
Why these listings matter
- A more tax-efficient structure for US exposure
US-domiciled ETFs such as SPY and QQQ have a 30% US withholding tax deducted from dividends paid to foreign investors. Because these Xtrackers funds are domiciled in Ireland, the US–Ireland tax treaty generally cuts the withholding tax on dividends from US stocks to 15%, deducted at fund level.
There is also an estate-planning angle. Irish-domiciled funds are generally not treated as US-situs assets. That means they generally fall outside US estate tax, which can apply at up to 40% to a non-US person’s US-situs assets above US$60,000.
This is general information, not tax advice. Tax treatment depends on your circumstances and may change.
- Dividends reinvested automatically
All four listings are accumulating share classes. Instead of paying small cash dividends that sit idle in your account, each fund reinvests the dividends it receives, after withholding tax, back into the fund. Over long holding periods, this removes cash drag and lets returns compound. Singapore generally does not tax capital gains for individual investors.
- Global benchmarks, traded the local way
You trade these ETFs on SGX in SGD between 9:00 AM and 5:00 PM SGT, with no need to open an overseas account or convert currency to place an order. On NOVA, you can hold them alongside your Singapore stocks, REITs and derivatives in one account.
Note that trading in SGD does not remove currency risk. The funds hold US and other overseas stocks, so movements between the SGD and those currencies will still affect your returns.
How investors might use them together
The four funds can work as building blocks in a core-and-satellite approach. The examples below show how they differ, not what you should buy.
- One-fund global core
XWR spreads your money across developed markets. Most of its weight is in US companies, so holding XWR and XUS together doubles up on the US.
- US-focused core
XUS gives broad US exposure at a 0.03% TER.
- Less concentration in the biggest names
EUS holds the same 500 companies as XUS but gives each a similar weight. It can perform quite differently from XUS, especially when a few large stocks drive the market.
- Growth satellite
XND adds a higher-conviction tilt towards large technology and growth companies. It is more concentrated, and can be more volatile, than the broader indices.
Trade the new SGX-listed Xtrackers ETFs and receive 40 units of LSS^ for free
Gain tax-efficient exposure to the S&P 500, Nasdaq-100, or MSCI World. Invest at least S$1,000 in these new global building blocks on NOVA and receive 40 FREE LSS units.
^Phillip-Nova MSCI Singapore Daily (2X) Leveraged Product
Frequently asked questions
An ETF’s liquidity depends mainly on how liquid its underlying stocks are, not only on its daily trading volume on SGX. The fund keeps at least one designated market maker in place to quote buy and sell prices on SGX. Bid-ask spreads may be wider when US markets are closed.
The ETFs trade between willing buyers and sellers at market prices throughout the SGX trading day. Prices move with supply and demand and with the estimated value of the index, which is often guided by index futures that trade during Asian hours.
The funds hold the actual index stocks. The anticipated tracking error for these unhedged share classes is up to 1.00% a year. The funds may also lend up to 50% of their net asset value in securities, solely for efficient portfolio management.
Yes. You trade in SGD, but the underlying stocks are priced in USD and other currencies, so exchange-rate movements affect your returns.
Yes. From 13 October 2026, you can trade XUS, XND, EUS and XWR on the NOVA trading platform and manage your global index holdings in one account.
