Index Factsheet

MSCI ACWI ex USA ESG Leaders Index (USD)The MSCI ACWI ex USA ESG Leaders Index is a free ﬂoat-adjusted market capitalization-weighted index designed to represent theperformance of companies that are selected from the MSCI ACWI ex USA Index (“Parent Index”) based on Environmental, Social andGovernance (ESG) criteria. These criteria exclude constituents based on involvement in speciﬁc business activities, as well as ESG ratingsand exposure to ESG controversies. The Indexes are derived from the MSCI ACWI ex USA Index and aim to achieve sector weights thatreﬂect the sector weights of the corresponding Parent Index. the MSCI ACWI ex USA ESG Leaders Index consists of Large and Mid cap
companies across 22 of 23 Developed Markets (DM) countries (excluding the US) and 24 Emerging Markets (EM) countries*. The Index
construction targets 50% free ﬂoat-adjusted market capitalization coverage of each Global Industry Classiﬁcation Standard (GICS®) sector
by selecting constituents primarily based on criteria including the ESG rating, the trend in that rating and the company’s industry-adjusted
ESG score. The Index is a member of the MSCI ESG Leaders Index series.
For a complete description of the index methodology, please see Index methodology - MSCI.

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

ANNUAL PERFORMANCE (%)

300

2023
2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010

MSCI ACWI ex USA ESG Leaders
MSCI ACWI ex USA
256.16230.0820010050
Jul 09Oct 10

Jan 12

Apr 13

Jul 14

Oct 15

Jan 17

Apr 18Jul 19MSCI ACWI ex
USA ESG Leaders MSCI ACWI ex USAYear

Oct 20Jan 22

Apr 2314.92-19.07
7.92
13.29
22.70
-13.97
26.78
4.35
-2.67
-1.96
17.93
17.50
-11.2811.99

15.62-16.00
7.82
10.65
21.51
-14.20
27.19
4.50
-5.66
-3.87
15.29
16.83
-13.71
11.15

Jul 24INDEX PERFORMANCE — NET RETURNS (%) (JUL 31, 2024)

FUNDAMENTALS (JUL 31, 2024)
ANNUALIZED

1 Mo

3 Mo

1 Yr

YTD

3 Yr

5 Yr

10 Yr SepSince
28, 2007MSCI ACWI ex USA ESG
Leaders

1.77

5.70

9.41

8.50

0.54

6.17

4.60

MSCI ACWI ex USA

2.32

5.19

9.75

8.14

1.79

6.29

4.18

Div Yld (%)

P/EP/E Fwd

P/BV

3.50

2.72

17.58

14.59

2.10

2.66

2.90

15.80

13.37

1.88

INDEX RISK AND RETURN CHARACTERISTICS (SEP 28, 2007 – JUL 31, 2024)
ANNUALIZED STD DEV (%) 2Beta

MSCI ACWI ex USA ESG
Leaders

0.98

1.55

MSCI ACWI ex USA

1.00

0.00

1Last 12 months

SHARPE RATIO 2 , 3

MAXIMUM DRAWDOWN

3 Yr

5 Yr

10 Yr

3 Yr

5 Yr

10 Yr

Since
Sep 28,2007(%)

Period YYYY-MM-DD

10.95

16.98

17.21

14.87

-0.07

0.31

0.27

0.21

59.84

2007-10-31—2009-03-093.29

16.37

17.24

15.03

-0.01

0.31

0.24

0.1760.83

2007-10-31—2009-03-09

Tracking TurnoverError (%) (%) 12

Based on monthly net returns data

3

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

The MSCI ESG Leaders Indexes are products of MSCI Inc. that utilize information such as company ratings and research produced and provided by MSCI ESG Research LLC(MSCI ESG Research), a subsidiary of MSCI Inc.
*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 and the UK. EM countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea,Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.
The MSCI ACWI ex USA ESG Leaders Index was launched on Jul 12, 2013. 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 actualor back-tested -- is no indication or guarantee of future performance.

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JUL 31, 2024

Index Factsheet

INDEX CHARACTERISTICS
Number ofConstituents

MSCI ACWI ex
USA ESG Leaders

TOP 10 CONSTITUENTSMSCI ACWI ex USA

902

2,156

TAIWAN SEMICONDUCTOR MFG
NOVO NORDISK B
ASML HLDGTENCENT HOLDINGS LI (CN)ASTRAZENECANOVARTIS
LVMH MOET HENNESSY
HSBC HOLDINGS (GB)
ALIBABA GRP HLDG (HK)UNILEVER PLC (GB)Total

Weight (%)

LargestSmallest
Average
Median

5.04
0.00
0.11
0.04

2.63
0.00
0.05
0.02

CountryIndex
Wt. (%)

TW
DK
NL
CN
GB
CH
FR
GB
CN
GB

5.04
3.11
2.65
2.21
1.77
1.59
1.40
1.23
1.11
1.11
21.21

ParentIndex
Wt. (%)

2.63
1.62
1.38
1.15
0.93
0.83
0.73
0.64
0.58
0.58
11.09

SectorInfo Tech
Health Care
Info Tech
Comm Srvcs
Health Care
Health Care
Cons DiscrFinancials
Cons Discr
Cons Staples

FACTORS - KEY EXPOSURES THAT DRIVE RISK AND RETURNMSCI FACTOR BOX
UNDERWEIGHTMSCI FaCS
NEUTRAL

VALUE
Relatively Inexpensive Stocks

OVERWEIGHTLOW SIZE
Smaller Companies
MOMENTUM
Rising Stocks
QUALITY
Sound Balance Sheet Stocks
YIELD
Cash Flow Paid Out
LOW VOLATILITY
Lower Risk Stocks<-1.50MSCI ACWI ex USA ESG Leaders

MSCI FaCS provides absolute factor exposuresrelative to abroad global index - MSCI ACWI IMI.

+1.5<MSCI ACWI ex USA

Neutral factor exposure (FaCS = 0) represents
MSCI ACWI IMI.

SECTOR WEIGHTS

COUNTRY WEIGHTS

7.15%

7.11%

51.75%

6.56%

10.61%

4.39%
11.04%

2.87%
1.88%
7.5%

13.23%

21.6%

Health Care 11.04%

9.27%

7.74%

13.56%

Financials 21.6%

16.06%

7.67%

Industrials 13.56%

Information Technology 13.23%

Consumer Discretionary 10.61%

Communication Services 7.11%

Materials 6.56%

Consumer Staples 7.15%
Energy 4.39%

Japan 16.06%

United Kingdom 9.27%

Taiwan 7.5%

Other 51.75%

China 7.74%

Canada 7.67%

Utilities 2.87%

Real Estate 1.88%

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JUL 31, 2024

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 consistsof 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 constructedby 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 exposuresof funds/indexes and their benchmarks along 6 Factor Groups that have historically demonstrated excess market returns overthe long run.

ABOUT MSCIMSCI is a leading provider of critical decision support tools and services for the global investment community. With over 45 years of expertise in research, data and technology, we power better investment
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to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.
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