iShares MSCI World Small Cap UCITS ETF is an index product from iShares that tracks the MSCI World Small Cap index. It is domiciled in Ireland and complies with UCITS rules, so it can be sold to retail investors across the EU.

IUSN has a TER of 0.35% a year, taken daily from the fund's value. With €10,000 invested that is about €35 a year. Your broker or bank may add dealing or custody fees.

Can IUSN be switched without paying tax?

No. ETFs are excluded from the tax-free switching regime, so to change product you must sell and pay tax on the gain. If you want to be able to switch, look for an index mutual fund on the same index.

Does IUSN pay dividends?

No. It is accumulating: dividends are reinvested inside the fund and you pay no tax on them until you sell.

Global small caps · ETF

IUSN — iShares MSCI World Small Cap UCITS ETF

ISIN IE00BF4RFH31

iShares MSCI World Small Cap UCITS ETF is a UCITS ETF from iShares that tracks the MSCI World Small Cap index. It charges a 0.35% TER a year (about €35 for every €10,000 invested), is accumulating and is domiciled in Ireland.

TER (ongoing charges): 0.35%
Type: ETF
Dividends: Accumulating
Approximate fund size: €7.8B

What does it cost?

A 0.35% TER costs about €35 a year for every €10,000 invested. It sounds small, but it compounds: in a plan of €10,000 up front plus €200 a month for 30 years at 7% a year before costs, it trims the final pot by about €24,246 compared with a fund that charged nothing.

Project your investment in IUSN with the calculator →

Tax in Spain

IUSN is an ETF, so it cannot be switched tax-free: if you sell it to change product, the gain is taxed that year in the savings band of Spanish income tax (19% to 30%). As long as you do not sell, growth is not taxed.

Work out the tax on a sale and compare fund versus ETF →

Key facts

ISIN: IE00BF4RFH31
Tickers: IUSN, WSML
Provider: iShares
Index: MSCI World Small Cap
Type: ETF
TER (ongoing charges): 0.35%
Dividends: Accumulating
Domicile: Ireland
Replication: Physical, sampling
Currency hedged: No
Launch date: March 27, 2018
Approximate fund size: €7.8B
Tax-free switch (Spain): No

Alternatives in Global small caps

Vanguard Global Small-Cap Index Fund EUR AccMSCI World Small Cap0.30%

Comparisons

Vanguard Global Small-Cap Index Fund EUR Acc vs IUSN

Frequently Asked Questions

Figures checked on September 30, 2026 against justETF and Finect/Morningstar. Always confirm them in the provider's key information document (KID) before investing.