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How Much US Tax Am I Leaking On My ETFs?

ETF Dividend Withholding Tax Calculator

Compare a US-domiciled ETF (30% tax on dividends) with an Ireland-domiciled UCITS fund (15% at fund level), after each fund’s expense ratio, and see what you could keep.

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Page updated · US dividend tax comparison
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1 Your Numbers

Your ETF Investment

Dividends are reinvested. Option A loses 30% of US dividends to US tax; option B’s fund pays 15%. Enter each fund’s expense ratio (total expense ratio, TER) from its factsheet.

2 Your Result

You could keep

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Option A: US-Domiciled, Ending Value
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US tax on dividends: — · Fees: —
Option B: Ireland-Domiciled, Ending Value
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US tax on dividends: — · Fees: —
Dividend Tax Gap In Year One
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Extra US tax option A pays in the first year
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What This Estimate Assumes

Rough estimate. Option A is a US-domiciled fund: US dividends lose 30%, because Singapore has no income tax treaty with the US. Option B is an Ireland-domiciled UCITS fund that holds US shares and pays 15% on the dividends it receives under the US–Ireland treaty. Each year the value grows by your expected price growth plus dividends after tax, then the expense ratio comes off: the tool works year by year, while the Investment Fees Impact tool works month by month, so their figures are not directly comparable. Dividends are reinvested. Ignores currency moves, bid-ask spreads, trading costs, tracking differences, estate tax and any other tax. Whether a fund qualifies for the treaty rate depends on the fund. Rates from IRS sources checked 12 October 2026. General information and estimates only, not financial, tax or legal advice.

3 What Next

Grow My WealthSee The Steps For This GoalGrow My Wealth →Read The GuideHow Much US Dividend Tax Am I Losing On My ETFs? →

Before You Use This Number

Why Do US-Domiciled Funds Lose 30% Of Dividends?

The US takes 30% of US dividends paid to foreign investors unless a tax treaty lowers it. Singapore has no income tax treaty with the US, so a Singapore investor holding a US-listed fund loses 30%.

Why Do Ireland-Domiciled Funds Lose Only 15%?

The US–Ireland tax treaty sets 15% on portfolio dividends. An Ireland-domiciled fund that holds US shares can usually claim it on the dividends it receives. This depends on the fund, so check its documents.

Does This Pick A Fund For Me?

No. It compares two options using the numbers you enter. Spreads, fund size, tracking and how you buy also matter.