Index Factsheet

MSCI Japan Empowering Women Index (WIN)(JPY)
MSCI日本株女性活躍指数 (WIN) は、MSCIジャパンIMIトップ700指数を親指数とし、職場における高い性別多様性を推奨・維持することにコミットし、また財務的クォリティも高い企業のパフォーマンスを表すことを目指す。本指数は、GICSにおける業種の中から性別多様性スコアを使って、女性活躍を率先するリーダー企業を選抜している。

CUMULATIVE INDEX PERFORMANCE — GROSS RETURNS (JPY)(MAY 2018 – MAY 2022)

ANNUAL PERFORMANCE (%)
MSCI Japan
Empowering
Women (WIN)

Year

2021
2020
2019

MSCI Japan Empowering Women (WIN)MSCI Japan IMI Top 700
150

MSCI JapanIMI Top 700

10.70
9.14
20.20

13.35
8.20
18.86

123.66120.7210050
May 18

Sep 18Jan 19May 19

Sep 19Jan 20May 20

Sep 20Jan 21May 21

Sep 21

Jan 22May 22

FUNDAMENTALS (MAY 31, 2022)

INDEX PERFORMANCE — GROSS RETURNS (%) (MAY 31, 2022)
ANNUALIZED

1 Mo

3 Mo

1 Yr

YTD

3 Yr

5 Yr

10 Yr MaySince
31, 2018

MSCI Japan Empowering
Women (WIN)

0.38

2.58

0.63

-4.59

9.94

nana

MSCI Japan IMI Top 700

0.83

2.92

1.83

-2.94

11.17

nana

Div Yld (%)

P/EP/E Fwd

P/BV

4.82

2.40

13.57

13.25

1.54

5.45

2.44

13.59

12.71

1.26

INDEX RISK AND RETURN CHARACTERISTICS (MAY 31, 2018 – MAY 31, 2022)
ANNUALIZED STD DEV (%) 2Beta

MSCI Japan Empowering
Women (WIN)

1.00

2.79

MSCI Japan IMI Top 700

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
May 31,
2018

43.00

15.22

nana

0.70

nana

0.38

27.60

2018-10-02—2020-03-16

1.62

14.93

na

na

0.79

nana

0.42

29.13

2018-10-02—2020-03-16

Tracking TurnoverError (%) (%) 12

Based on monthly gross returns data3(%)

Period YYYY-MM-DD

Based on JBA TIBOR 1M from Sep 1 2021 & on ICE LIBOR 1M prior that date

The MSCI Japan Empowering Women Index (WIN) was launched on Jul 03, 2017. 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 Japan Empowering Women Index (WIN) (JPY) | msci.com

2022年5月31日

Index Factsheet

INDEX CHARACTERISTICS
Number ofConstituents

MSCI Japan
Empowering
Women (WIN)TOP 10 CONSTITUENTSMSCI JapanIMI Top 700

352IndexWt. (%)TOYOTA MOTOR CORP
TOKYO ELECTRONNINTENDO CORECRUIT HOLDINGS CO
HOYA CORP
KDDI
SHIN-ETSU CHEMICAL CO
MURATA MANUFACTURING CO
ITOCHU CORPNTT CORP
Total

699

Weight (%)

LargestSmallest
Average
Median

5.39
0.00
0.28
0.08

4.47
0.01
0.14
0.05

5.39
4.94
3.39
3.21
3.18
2.78
2.61
1.95
1.68
1.67
30.80

ParentIndex
Wt. (%)

4.47
1.75
1.26
1.28
1.01
1.44
1.29
0.95
0.87
0.93
15.24

SectorCons Discr
Info Tech
Comm Srvcs
Industrials
Health CareComm Srvcs
Materials
Info Tech
Industrials
Comm Srvcs

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 VOLATILITYLower Risk Stocks<-1.50MSCI FaCS provides absolute factor exposuresrelative to abroad global index - MSCI ACWI IMI.

+1.5<MSCI Japan Empowering Women (WIN)

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

SECTOR WEIGHTS
10.65%

10.82%

6.38%
5%

11.93%

2.46%
1.37%
12.37%

1.02%
22.22%

15.78%

Industrials 22.22%

Information Technology 15.78%

Health Care 11.93%

Financials 10.82%

Materials 6.38%

Consumer Staples 5%

Consumer Discretionary 12.37%

Communication Services 10.65%
Real Estate 2.46%

Utilities 1.37%

Energy 1.02%

MSCI Japan Empowering Women Index (WIN) (JPY) | msci.com

MAY 31, 2022

Index Factsheet

INDEX FRAMEWORK

本指数はGICS業種の中から性別多様性に優れる企業を選抜し、指数化に際してはそれらの銘柄を時価総額と性別多様性スコア、財務クォリティ・スコアを踏まえて加重平均したものである。なお、クォリティ・スコアは、高いROEと低いレバレッジ、低い利益変動性に基づいて算出される。
Index methodology - MSCI.

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 areconstructed 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 andintuitive 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.

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MSCI Japan Empowering Women Index (WIN) (JPY) | msci.com