Investing in ETFs Through a PRSA Pension in Ireland
ETFs (exchange traded funds) are a popular and often low-cost way to invest in a stock market or economic sector. This page outlines the mechanics of investing a pension into ETFs in Ireland, the (often misunderstood) way that fees compare to non-ETF investment funds, historical investment returns for a selection of ETFs, and lists the PRSA providers which facilitate ETF investing.
What is a brokerage-style PRSA?
A brokerage-style PRSA offers a huge range of ETFs and other investment options, instead of restricting you to a pension provider's curated range of investment funds.
Two separate questions get mixed up in discussions of PRSAs, and keeping them apart is the key to understanding what's available:
- Fund range: A curated range (the provider's own menu of funds, typically 10 to 50 options) versus the whole market (including ETFs).
- Who decides what to buy? You make the investment decisions alone (execution-only) versus a professional doing it for you (discretionary) versus a collaborative approach (advisory).
If a PRSA comes with a brokerage-style investment range, then you can invest in ETFs. Execution-only/advisory/discretionary status is a totally separate topic: Please don't confuse the two.
Are ETFs the cheapest way to invest a PRSA?
ETFs have a reputation for low fees, typically from 0.07% to 0.50% per year. So many people assume that, if the goal is a low-cost PRSA, then an ETF must be the answer. For an Irish PRSA, though, there's more to the story.
In particular, people miss two key points:
Point #1: Brokerage-style PRSAs stack three charges
- The ETF's own expenses
- + the PRSA charge
- + stockbroking transaction charges
Point #2: Irish PRSA providers offer *non-ETF* passive investment funds
The composition of these is often a lot like a popular ETF: A mixture of companies from a well-known stock market.
When you tally everything up, investing through curated-range PRSAs can result in lower overall fees than the ETF route.
ETFs that you can buy through an Irish PRSA pension
There are thousands of ETFs on the market. Below is a small sample you can browse to get an idea of what's available. Each fund's total expense ratio (TER) is shown for reference. Stockbroking fees and PRSA account charges are *additional* to the TER.
| ETF | TER | Category | 2025 | 2024 | 2023 | 3y 2023–25 | 5y 2021–25 |
|---|---|---|---|---|---|---|---|
| Vanguard S&P 500 UCITS ETF (Dist) | 0.07% | Equities | 4.7% | 32.3% | 22.4% | 70% | 105% |
| iShares Core Global Aggregate Bond UCITS ETF EUR Hedged (Acc) | 0.10% | Fixed Income | 2.8% | 1.6% | 4.4% | 9% | -8% |
| iShares Core MSCI Europe UCITS ETF (Acc) | 0.12% | Equities | 20.3% | 8.2% | 15.8% | 51% | 71% |
| iShares Physical Gold ETC (Acc) | 0.12% | Commodities | 49.1% | 34.2% | 9.4% | 119% | – |
| iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 0.18% | Equities | 17.1% | 13.9% | 7.2% | 43% | 32% |
| iShares EUR Corporate Bond Large Cap UCITS ETF (Acc) | 0.18% | Fixed Income | 0.0% | 0.0% | 0.0% | 0% | 0% |
| iShares Core MSCI World UCITS ETF (Acc) | 0.20% | Equities | 7.9% | 25.9% | 20.1% | 63% | 87% |
| iShares MSCI World SRI UCITS ETF (Acc) | 0.20% | Equities | 2.9% | 17.5% | 20.9% | 46% | 66% |
| Vanguard FTSE All-World UCITS ETF (Acc) | 0.22% | Equities | 9.2% | 24.4% | 18.2% | 60% | 79% |
| UBS MSCI United Kingdom UCITS ETF (Acc) | 0.23% | Equities | 23.7% | 7.1% | 5.5% | 40% | 71% |
| iShares Core MSCI Japan (IMI) UCITS ETF (Acc) | 0.25% | Equities | 13.5% | 12.9% | 15.2% | 48% | 43% |
| iShares Core MSCI Australia UCITS ETF (Acc) | 0.25% | Equities | 1.0% | 8.5% | 10.1% | 21% | 41% |
| iShares MSCI World Small Cap UCITS ETF (Acc) | 0.25% | Equities | 7.8% | 13.2% | 13.1% | 38% | 49% |
| iShares MSCI World Energy Sector UCITS ETF (Acc) | 0.25% | Equities | 2.2% | 7.6% | 0.0% | 10% | 158% |
| iShares MSCI World Information Technology UCITS ETF (Acc) | 0.25% | Equities | 9.7% | 33.7% | 55.8% | 128% | 128% |
| Vanguard FTSE All-World High Dividend Yield UCITS ETF (Acc) | 0.28% | Equities | 13.2% | 15.8% | 7.3% | 41% | 80% |
| Xtrackers MSCI China UCITS ETF 1C (Acc) | 0.30% | Equities | 16.4% | 27.1% | -15.1% | 25% | -12% |
| iShares MSCI EM Small Cap UCITS ETF (Acc) | 0.30% | Equities | 5.7% | 8.2% | 19.1% | 36% | 52% |
| iShares Global High Yield Corporate Bond UCITS ETF (Acc) | 0.30% | Fixed Income | 2.3% | 9.3% | 9.8% | 23% | 24% |
| iShares MSCI India UCITS ETF (Acc) | 0.40% | Equities | -8.0% | 15.6% | 14.9% | 22% | 62% |
| iShares Global Clean Energy UCITS ETF (Acc) | 0.40% | Equities | 29.6% | -21.6% | -22.4% | -21% | -35% |
| SPDR Dow Jones Global Real Estate UCITS ETF (Dist) | 0.40% | Property | -2.3% | 4.9% | 7.8% | 10% | 24% |
Irish PRSA pension providers that let you invest in ETFs
Fees shown are for the PRSA account only: Stockbroking and product (ETF) fees are additional.
| Provider | PRSA product | Service level | Annual PRSA charge |
|---|---|---|---|
| BCWM | HBCWM PRSA | Self-directed | 0.66% – 2.40% |
| Cantor Fitzgerald | Cantor PRSA | Execution-only | 0.50% – 1.25% |
| Cantor Fitzgerald | Cantor PRSA | Advised | 0.75% – 1.50% |
| Cantor Fitzgerald | Cantor PRSA | Execution-only | 0.90% – 1.25% |
| Cantor Fitzgerald | Cantor PRSA | Advised | 1.00% – 1.75% |
| Cantor Fitzgerald | Cantor PRSA | Discretionary | 1.00% – 3.00% |
| Davy | Davy Advisory PRSA | Advised | 0.75% – 2.25% |
| Davy | Davy Advisory PRSA | Advised | 0.50% – 1.75% |
| Davy | Davy PRSA (Execution Only) | Execution-only | 1.00% – 1.75% |
| Davy | Davy PRSA (Execution Only) | Execution-only | 1.00% – 1.75% |
| Davy | Davy Select PRSA (Execution Only) | Execution-only | 1.00% – 2.75% |
| Davy | Davy Select PRSA (Execution Only) | Execution-only | 1.00% – 2.75% |
| Goodbody Stockbrokers | Goodbody Stockbrokers PRSA Portfolio | Self-directed | 0.74% – 1.54% |
| Goodbody Stockbrokers | Goodbody Stockbrokers PRSA Portfolio | Self-directed | 0.43% – 1.23% |
| ITC | ITC PRSA 1 | Self-directed | 0.80% – 2.50% |
| ITC | ITC PRSA 2 | Self-directed | 0.65% – 2.50% |
| ITC | ITC PRSA 3 | Self-directed | 0.40% – 2.50% |
| Newcourt | Self-Invested PRSA | Execution-only | 0.25% – 2.50% |
| Newcourt | Self-Invested PRSA | Advised | 0.60% – 2.50% |
| Newcourt | Self-Invested PRSA | Self-directed | 0.25% – 0.75% |
| Quest Retirement | Quest Retirement Solutions PRSA | Self-directed | 0.50% – 3.00% |