Index Factsheet

MSCI World Index (USD)

The MSCI World Index captures large and mid-cap representation across 23 Developed Markets (DM) countries*. With 1,395 constituents,
the index covers approximately 85% of the free float-adjusted market capitalization in each country.
For a complete description of the index methodology, please see Index methodology - MSCI.

CUMULATIVE INDEX PERFORMANCE — GROSS RETURNS (USD) ANNUAL PERFORMANCE (%)

(FEB 2010 – FEB 2025) MSCI
Year MSCI World Emerging MSCI ACWI
Markets
MSCI World 2024 19.19 8.05 18.02
MSCI Emerging Markets 480.35 2023 24.42 10.27 22.81
MSCI ACWI 429.30
2022 -17.73 -19.74 -17.96
400 2021 22.35 -2.22 19.04
2020 16.50 18.69 16.82
2019 28.40 18.88 27.30
2018 -8.20 -14.24 -8.93
2017 23.07 37.75 24.62
2016 8.15 11.60 8.48
200 2015 -0.32 -14.60 -1.84
178.03
2014 5.50 -1.82 4.71
2013 27.37 -2.27 23.44
2012 16.54 18.63 16.80
50 2011 -5.02 -18.17 -6.86
Feb 10 May 11 Aug 12 Nov 13 Feb 15 May 16 Aug 17 Nov 18 Feb 20 May 21 Aug 22 Nov 23 Feb 25

INDEX PERFORMANCE — GROSS RETURNS (%) (FEB 28, 2025) FUNDAMENTALS (FEB 28, 2025)
ANNUALIZED

1 Mo 3 Mo 1 Yr YTD 3 Yr 5 Yr 10 Yr DecSince Div Yld (%) P/E P/E Fwd P/BV

31, 1987

MSCI World -0.69 0.19 16.13 2.84 10.75 14.45 10.40 8.60 1.72 22.85 19.26 3.57

MSCI Emerging Markets 0.50 2.23 10.65 2.32 0.92 4.68 3.89 9.50 2.65 15.38 12.05 1.82

MSCI ACWI -0.57 0.39 15.57 2.79 9.66 13.31 9.66 8.40 1.81 21.81 18.19 3.27

INDEX RISK AND RETURN CHARACTERISTICS (FEB 28, 2025)

ANNUALIZED STD DEV (%) 2 SHARPE RATIO 2 , 3 MAXIMUM DRAWDOWN
Since
Turnover 3 Yr 5 Yr 10 Yr 3 Yr 5 Yr 10 Yr Dec 31, (%) Period YYYY-MM-DD
(%) 1 1987

MSCI World 2.36 16.50 17.42 14.99 0.46 0.72 0.61 0.41 57.46 2007-10-31—2009-03-09

MSCI Emerging Markets 5.64 17.64 18.20 17.12 -0.10 0.20 0.20 0.38 65.14 2007-10-29—2008-10-27

MSCI ACWI 2.57 16.08 17.01 14.78 0.40 0.67 0.57 0.39 58.06 2007-10-31—2009-03-09
1 2 3
Last 12 months Based on monthly gross returns data Based on NY FED Overnight SOFR from Sep 1 2021 & on ICE LIBOR 1M prior that date

*DM countries include: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway,
Portugal, Singapore, Spain, Sweden, Switzerland, the UK and the US.

The MSCI World Index was launched on Mar 31, 1986. Data prior to the launch date is back-tested test (i.e. calculations of how the index might have performed over that time
period had the index existed). There are frequently material differences between back-tested performance and actual results. Past performance -- whether actual or back-tested
-- is no indication or guarantee of future performance.

MSCI World Index (USD) | msci.com

FEB 28, 2025 Index Factsheet

INDEX CHARACTERISTICS TOP 10 CONSTITUENTS

MSCI World Float Adj Mkt Index Sector
Number of 1,395 Cap Wt. (%)
( USD Billions)
Constituents APPLE 3,676.97 5.13 Info Tech
Mkt Cap ( USD Millions)
NVIDIA 3,064.29 4.27 Info Tech
Index 71,691,505.54
MICROSOFT CORP 2,803.30 3.91 Info Tech
Largest 3,676,968.49 AMAZON.COM 2,005.20 2.80 Cons Discr
Smallest 1,693.16 META PLATFORMS A 1,460.33 2.04 Comm Srvcs
Average 51,391.76 ALPHABET A 997.67 1.39 Comm Srvcs
Median 18,303.69 BROADCOM 884.88 1.23 Info Tech
ALPHABET C 865.66 1.21 Comm Srvcs
TESLA 842.37 1.17 Cons Discr
JPMORGAN CHASE & CO 752.97 1.05 Financials
Total 17,353.65 24.21

FACTORS - KEY EXPOSURES THAT DRIVE RISK AND RETURN

MSCI FACTOR BOX MSCI FaCS
UNDERWEIGHT NEUTRAL OVERWEIGHT
VALUE
Relatively Inexpensive Stocks

LOW SIZE
Smaller Companies

MOMENTUM
Rising Stocks

QUALITY
Sound Balance Sheet Stocks

YIELD
Cash Flow Paid Out

LOW VOLATILITY
Lower Risk Stocks

MSCI FaCS provides absolute factor exposures

relative to a
<-1.5 0 +1.5< broad global index - MSCI ACWI IMI.
MSCI World MSCI Emerging Markets
Neutral factor exposure (FaCS = 0) represents
MSCI ACWI IMI.

SECTOR WEIGHTS COUNTRY WEIGHTS

8.15% 5.23%
10.59%
6.23% 3.63%
10.79%
3.81% 3.01%

3.32% 2.75%

10.88% 2.51% 12.46%

2.13%
72.92%
16.97% 24.61%

Information Technology 24.61% Financials 16.97% Health Care 10.88% United States 72.92% Japan 5.23% United Kingdom 3.63% Canada 3.01%

Industrials 10.79% Consumer Discretionary 10.59% Communication Services 8.15% France 2.75% Other 12.46%

Consumer Staples 6.23% Energy 3.81% Materials 3.32% Utilities 2.51%

Real Estate 2.13%

MSCI World Index (USD) | msci.com

FEB 28, 2025 Index Factsheet

MSCI FACTOR BOX AND FaCS FRAMEWORK (Please refer to complete description of the MSCI FaCS methodology here)
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios. MSCI FaCS consists
of Factor Groups (e.g. Value, Size, Momentum, Quality, Yield, and Volatility) that have been extensively documented in academic
literature and validated by MSCI Research as key drivers of risk and return in equity portfolios. These Factor Groups are constructed
by aggregating 16 factors (e.g. Book-to-Price, Earnings/Dividend Yields, LT Reversal, Leverage, Earnings Variability/Quality, Beta)
from the latest Barra global equity factor risk model, GEMLT, designed to make fund comparisons transparent and intuitive for use.
The MSCI Factor Box, which is powered by MSCI FaCS, provides a visualization designed to easily compare absolute exposures
of funds/indexes and their benchmarks along 6 Factor Groups that have historically demonstrated excess market returns over
the long run.

ABOUT MSCI
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decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use
to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

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MSCI World Index (USD) | msci.com