Index Factsheet

MSCI Spain 25/50 100% Hedged to USD Index(USD)The MSCI Spain 25/50 100% Hedged to USD Index represents a close estimation of the performance that can be achieved by hedging
the currency exposure of its parent index, the MSCI Spain 25/50 Index, to the USD, or the "home" currency for the hedged index. The index
is 100% hedged to the USD by selling the EUR forward at the one-month Forward rate. The parent index is composed of large and mid capstocks. It applies certain investment limits that are imposed on regulated investment companies, or RICs, under the current US Internal
Revenue Code.
For a complete description of the index methodology, please see Index methodology - MSCI.

CUMULATIVE INDEX PERFORMANCE — NET RETURNS (USD)(SEP 2009 – SEP 2024)

ANNUAL PERFORMANCE (%)
Year

MSCI Spain 25/50 US Dollar Hedged
MSCI Spain 25/50 (Local)
MSCI Spain 25/50 (USD)

229.04200
175.45133.9610050
Sep 09Dec 10Mar 12

Jun 13

Sep 14

Dec 15

Mar 17

Jun 18

Sep 19Dec 20Mar 22Jun 232023
20222021
2020
201920182017201620152014
2013201220112010MSCI Spain MSCI Spain MSCI Spain
25/50 US
Dollar Hedged 25/50 (Local) 25/50 (USD)

29.37
3.50
9.45
-9.04
16.79
-7.48
14.19
2.98
-6.01
9.85
29.92
2.79
-7.50
-11.02

25.99
0.72
8.06
-10.75
13.26-10.49
12.00
1.11
-5.80
9.63
28.39
0.63
-7.43
-14.08

30.41
-5.47
0.43
-2.72
11.22
-14.7827.51-1.83-15.43
-3.73
34.19
2.20
-10.43-19.66

Sep 24INDEX PERFORMANCE — NET RETURNS (%) (SEP 30, 2024)
ANNUALIZED1 Mo

3 Mo

1 Yr

YTD

3 Yr

5 Yr

10 Yr

Since
Nov 30, 1998

MSCI Spain 25/50 US Dollar
Hedged

3.92

9.69

28.62

18.60

17.38

10.41

6.17

6.11

MSCI Spain 25/50 (Local)

3.75

9.15

25.97

17.02

14.60

8.08

4.08

4.82

MSCI Spain 25/50 (USD)

4.60

13.66

32.78

18.23

13.17

8.59

2.80

4.68

INDEX RISK AND RETURN CHARACTERISTICS (NOV 30, 1998 – SEP 30, 2024)
ANNUALIZED STD DEV (%) 1

SHARPE RATIO 1 , 2

MAXIMUM DRAWDOWN

3 Yr

5 Yr

10 Yr

3 Yr

5 Yr

10 Yr

Since
Nov 30,1998

MSCI Spain 25/50 US Dollar
Hedged16.13

20.58

18.34

0.87

0.47

0.32

0.29

55.00

2007-10-31—2009-03-09

MSCI Spain 25/50 (Local)

16.10

20.43

18.26

0.72

0.37

0.22

0.23

55.80

2007-10-31—2009-03-09

MSCI Spain 25/50 (USD)

20.92

24.16

21.22

0.53

0.36

0.15

0.22

61.93

2007-11-08—2009-03-09

1

Based on monthly net returns data

2(%)

Period YYYY-MM-DD

Based on NY FED Overnight SOFR from Sep 1 2021 & on ICE LIBOR 1M prior that date

The MSCI Spain 25/50 100% Hedged to USD Index was launched on Mar 19, 2015. 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 Spain 25/50 100% Hedged to USD Index (USD) | msci.com

SEP 30, 2024

Index Factsheet

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