Index Factsheet

MSCI ACWI ex USA Dividend Masters Index (USD)The MSCI ACWI ex USA Dividend Masters Index captures large and mid cap stocks across 22 of 23 Developed Markets (DM) (excludingthe US) and 24 Emerging Markets (EM) countries*. The index is designed to capture the performance of companies in MSCI ACWI ex
USA Index that have consistently increased dividends every year for at least 10 years. The index is constructed by targeting a minimumof 90 securities and the index constituents are equally weighted. The sector weights are capped at 30% and country weights are capped
at 50% to mitigate potential concentration risks.
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 (%)

300

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

MSCI ACWI ex USA Dividend Masters
MSCI ACWI ex USA

257.55222.88

200

100

50
Sep 09Dec 10Mar 12

Jun 13

Sep 14

Dec 15

Mar 17

Jun 18

Sep 19MSCI ACWI ex USA MSCI ACWI ex USA
Dividend Masters

YearDec 20Mar 22Jun 23

10.13-16.21
11.79
5.85
22.28
-10.85
23.09
0.62
-5.47
6.46
12.87
16.05
-3.25
17.18

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

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

FUNDAMENTALS (SEP 30, 2024)
ANNUALIZED1 Mo

3 Mo

1 Yr

YTD

3 Yr

5 Yr

10 Yr NovSince
29, 2002

MSCI ACWI ex USA Dividend
Masters

2.84

13.49

23.14

12.15

1.67

5.72

4.46

MSCI ACWI ex USA

2.69

8.06

25.35

14.21

4.147.59

5.22

Div Yld (%)

P/EP/E Fwd

P/BV

9.78

2.84

19.51

16.75

2.43

7.34

2.84

15.93

13.54

1.90

INDEX RISK AND RETURN CHARACTERISTICS (NOV 29, 2002 – SEP 30, 2024)
ANNUALIZED STD DEV (%) 2Beta

MSCI ACWI ex USA Dividend
Masters

0.91

4.67

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
Nov 29,
2002

36.38

15.27

16.64

13.98

-0.05

0.28

0.26

0.56

61.16

2007-10-31—2009-03-09

3.3816.34

17.19

14.97

0.12

0.38

0.30

0.41

60.83

2007-10-31—2009-03-09

Tracking TurnoverError (%) (%) 12

Based on monthly net returns data

3(%)

Period YYYY-MM-DD

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 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 Dividend Masters Index was launched on Dec 16, 2016. 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 ACWI ex USA Dividend Masters Index (USD) | msci.com

SEP 30, 2024

Index Factsheet

INDEX CHARACTERISTICS
MSCI ACWI ex USA
Dividend Masters

Number ofConstituentsTOP 10 CONSTITUENTSMSCI ACWI ex USA

115

2,094

YUHAN CORPPING AN INS A (HK-C)PEOPLE'S INSURANCE CO H
AIA GROUPGUANGDONG INVESTMENTTENCENT HOLDINGS LI (CN)SOFINAASHTEAD GROUPCANADIAN IMPERIAL BANK
BUNZL
Total

Weight (%)

LargestSmallest
Average
Median

1.27
0.67
0.87
0.86

2.660.00
0.05
0.02

CountryIndex
Wt. (%)

KR
CN
CNHK
CN
CN
BEGB
CAGB

1.27
1.14
1.11
1.10
1.10
0.99
0.98
0.95
0.95
0.94
10.53

ParentIndex
Wt. (%)

0.02
0.02
0.01
0.36
0.01
1.34
0.02
0.12
0.21
0.06
2.16

Sector

Health Care
Financials
Financials
Financials
Utilities
Comm Srvcs
Financials
Industrials
Financials
Industrials

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

+1.5<

MSCI ACWI ex USA Dividend Masters

MSCI ACWI ex USA

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

SECTOR WEIGHTS

COUNTRY WEIGHTS

7.95%

7.16%

11.03%

6.04%
4.36%

33.72%

6.18%
7.7%

4.1%

12.93%

2.52%

11.38%

15.47%
13.52%
14.93%

Industrials 15.47%

Financials 14.93%

Consumer Staples 12.93%
Communication Services 6.04%

Information Technology 13.52%

Health Care 11.03%

Utilities 7.95%

Consumer Discretionary 4.36%

Materials 7.16%

25.81%

15.21%

Canada 25.81%
India 6.18%

Japan 15.21%

United Kingdom 11.38%

Switzerland 7.7%

Other 33.72%

Energy 4.1%

Real Estate 2.52%

MSCI ACWI ex USA Dividend Masters Index (USD) | msci.com

SEP 30, 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.
The information contained herein (the "Information") may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI. The Information may not be used to verify orcorrect other data, to create indexes, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, ﬁnancial products or other investment
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