If you contribute to SRS, you already know the default outcome: leave it idle and it earns 0.05% per year. You need to invest it. But for anyone who wants international equity exposure, the options have historically been limited to unit trusts.
There is now a way to invest SRS funds in a UCITS ETF. UCITS ETFs are Ireland-domiciled exchange-traded funds that attract 15% dividend withholding tax instead of the 30% that applies to US-domiciled funds. As far as I can tell, only one platform in Singapore currently supports this for SRS accounts.
I want to be clear upfront: this is completely unsponsored. I have S$20,000 of SRS funds coming in from a matured insurance policy and I need to deploy them. Everything here is my own research, for my own decision.
My current SRS setup
For those who have not followed my SRS journey: I currently invest my SRS through POEMS in the Amundi Prime USA Fund, a unit trust that tracks large and mid-cap US companies, similar to the S&P 500. I previously used Endowus for the same fund, but switched to POEMS after realising Endowus charges 0.3% per year in platform fees while POEMS charges nothing. The Amundi fund has no trailer fees either, so switching was straightforward.
The core principle I always come back to: cost is guaranteed, but profit is not. If you can reduce a guaranteed cost, that is a guaranteed improvement to long-term returns.
The cost and tax comparison
| Platform | Product | Platform fee | Sales charge | Dividend WHT | Estate tax |
|---|---|---|---|---|---|
| Endowus | Amundi Prime USA (unit trust) | 0.3% p.a. | None | 30% | No |
| POEMS | Amundi Prime USA (unit trust) | None | None | 30% | No |
| StashAway ETF Explorer | ISAC (UCITS ETF, Ireland-domiciled) | None | US$1/trade | 15% | No |
| StashAway ETF Explorer | IVV, QQQ (US-domiciled ETFs) | None | US$1/trade | 30% | Yes |
The standout difference is dividend withholding tax. For US-domiciled ETFs and unit trusts investing in US equities, you pay 30% WHT on dividends. For Ireland-domiciled UCITS ETFs like ISAC, that drops to 15%. Over a long investment horizon, this compounds meaningfully.
What is StashAway ETF Explorer?
ETF Explorer is a self-directed ETF trading feature within StashAway. Unlike their managed robo-portfolios, which charge an ongoing annual management fee, ETF Explorer has no platform fee. The only cost is US$1 per buy or sell order.
It supports both cash and SRS funding. The available investment themes are gold, silver, NASDAQ 100 (QQQ), S&P 500 (IVV), and global equities (ISAC). Each maps to a single specific ETF. You choose the theme, you choose when to buy or sell.
Why ISAC is the standout pick for SRS
Most ETFs in ETF Explorer are US-domiciled: IVV, QQQ, the precious metals ETFs. These are fine instruments but they come with 30% WHT and US estate tax exposure. For SRS investing, they are not materially better than what POEMS already offers.
The exception is ISAC, the iShares MSCI ACWI UCITS ETF, listed on the London Stock Exchange.
| Feature | Detail |
|---|---|
| Full name | iShares MSCI ACWI UCITS ETF |
| Index tracked | MSCI All Country World Index (developed + emerging markets) |
| Domicile | Ireland |
| Dividend treatment | Accumulating (dividends reinvested, not paid out) |
| Expense ratio | 0.20% p.a. |
| Dividend WHT | 15% |
| US estate tax | None (only applies to US-domiciled ETFs) |
Because ISAC is accumulating, dividends are reinvested inside the fund. There are no cash payouts at the investor level. The 15% WHT is applied inside the fund when it receives dividends from its holdings. This is still materially better than the 30% that applies to US-domiciled funds and unit trusts investing in US equities.
The index covers companies from both developed and emerging markets globally. The top holdings include the Magnificent Seven US tech names, but also exposure to markets like India. This is meaningfully different from a pure S&P 500 tracker. It is designed to track global equities, not replicate any single market.
As far as I can tell, investing in ISAC via SRS is not something any other platform in Singapore currently supports.
What I am personally doing with my SRS
In February 2026, an insurance policy I held matured and S$20,000 flowed into my SRS. Instead of adding to the Amundi Prime USA Fund on POEMS, I am deploying this into StashAway ETF Explorer under the global equities portfolio, specifically into ISAC.
My reasoning: same no-platform-fee structure as POEMS, but with 15% dividend WHT instead of 30%. For globally diversified exposure with lower tax drag, ISAC is the better instrument for my SRS at this point.
Why not IVV on StashAway?
IVV has an expense ratio of just 0.03%, which is lower than ISAC's 0.20%. But IVV is US-domiciled, which means 30% dividend WHT and US estate tax exposure. That makes it not materially better than the Amundi Prime USA Fund on POEMS, which I am already using. There is no compelling reason to switch.
What about QQQ, gold, and silver via ETF Explorer?
These are US-domiciled ETFs, so the same WHT and estate tax caveats apply. However, these are currently the only SRS-compatible vehicles for gaining exposure to NASDAQ 100, gold, and silver in Singapore. If you want that kind of targeted exposure with your SRS funds, ETF Explorer is the only option I am aware of.
Should you use ETF Explorer with cash?
Probably not as your first choice. With cash, you can use Interactive Brokers directly to buy UCITS ETFs like ISAC at far tighter FX spreads. IBKR is not SRS-compatible, which is the entire reason ETF Explorer is relevant here. For cash investing in global ETFs, IBKR remains my preferred platform.
Summary: which platform for what purpose
| If you want… | Use this |
|---|---|
| Global equities via SRS at 15% WHT | StashAway ETF Explorer – ISAC |
| S&P 500 exposure via SRS, no platform fee | POEMS – Amundi Prime USA Fund |
| NASDAQ 100, gold, or silver via SRS | StashAway ETF Explorer (US-domiciled, 30% WHT) |
| UCITS ETFs with cash, lowest FX spread | Interactive Brokers |
| Hands-off SRS robo portfolio | Endowus or StashAway robo portfolios |
I will review the platform experience after a few months of live use and share an update. This is not financial advice. Always do your own research and assess whether any product is suitable for your personal financial situation.