S&P 500 fund / etf for iWeb transfer

Jwheeler123

Hello

I’m transferring my Hargreaves Lansdown S&S ISA to iWeb in order to save on platform fees. It seems to all be ok except that iWeb can’t accept an iShares S&P 500 ETF. What are good alternatives (can be a fund rather than ETF) that work on the iWeb platform?

Thanks!

Iain_For

VUSA (0.07%) or HSPX (0.09%) are both available on iWeb.

MK62

There are quite a few S&P 500 ETFs listed as available at iWEB, including the iShares Core S&P 500 ETF (there are quite a few variations of this fund though, perhaps iWeb don't do the same one as you already hold at HL), and S&P 500 ETFs from the the likes of HSBC, Invesco and Vanguard (plus a few others).

There's unlikely to be much performance difference between any of them really, as long as you make sure you compare like for like.....ie denominated in the same currency, hedged or unhedged etc........they all invest in the same S&P 500.

I'm not sure if there are any UT/OEIC funds which specifically track the S&P 500 though.......they mostly seem to track FTSE or MSCI US indexes (I've never looked into how different these are).
Vanguard do one which tracks the S&P Total Market Index (of which the S&P 500 makes up about 75% iirc)......

As for your transfer, can you not just get HL to sell it and transfer it as cash.....then pick a fund/ETF once the money lands at iWEB......might cost a few quid more, but may be worth it for the peace of mind of getting it done and dusted.

Glen_Clark

I hold SWDA on Iweb.
(I still have my largest holding on x-o but decided to split my equities portfolio between 2 platforms for peace of mind.)
But I can't find SWDA in the ETFs listed in Iweb funds centre.
So they might still do the one you want?

MK62

It's here

https://www.markets.iweb-sharedealing.co.uk/share-centre/etfs/detail/SWDA/IE00B4L5Y983/0P0000LZZD

though for the OP, it doesn't track the S&P 500.

masonic

Jwheeler123 wrote: »

It seems to all be ok except that iWeb can’t accept an iShares S&P 500 ETF. What are good alternatives (can be a fund rather than ETF) that work on the iWeb platform?

CSP1 would be the ticker you'd want for the iShares ETF (on LSE, not one of the European markets), but if you are doing a fund switch at HL prior to transferring, you can save yourself a dealing charge by moving to a fund. I wanted to hold some S&P500 unwrapped (Acc funds are a pain in this case for CGT calculations) so did some comparisons and settled on Fidelity Index US as a cheap fund option.

MK62

I wonder if that's the OP's issue

HL list CSP1 as "iShares VII PLC Core S&P 500 B GBP ACC"
and list CSPX as "iShares VII PLC Core S&P 500 B USD ACC"

iWEB list CSP1 as "iShares Core S&P 500 ETF USD Acc GBP" (perhaps a little confusing), and have no listing for CSPX.

Glen_Clark

MK62 wrote: »

It's here

https://www.markets.iweb-sharedealing.co.uk/share-centre/etfs/detail/SWDA/IE00B4L5Y983/0P0000LZZD

Yes - but go to 'funds centre' then to 'ETFs' then to Black Rock (Ireland) and it gives me a list (including other BlackRock core ETFs) where SWDA is not on it.

k6chris

Which one would you use if you wanted to factor out any dollar risk, is that simply the GBP fund??

Jwheeler123

Great tips. Thanks everyone.

masonic

k6chris wrote: »

Which one would you use if you wanted to factor out any dollar risk, is that simply the GBP fund??

None of the above. The GBP fund is priced in pounds but the base currency is still USD. You'd need to find one with "hedged" in the name.