The MSCI ACWI Investable Market Index (IMI) captures large, mid and small cap representation across 23 Developed Markets (DM) and 24 Emerging Markets (EM) countries*. With 9,142 constituents, the index is comprehensive, covering approximately 99% of the global equity investment opportunity set.
CUMULATIVE INDEX PERFORMANCE — GROSS RETURNS (USD) ANNUAL PERFORMANCE (%)
(JAN 2008 – JAN 2023) MSCI MSCI MSCI Year Emerging ACWI IMI World IMI Markets IMI MSCI ACWI IMI 2022 -18.00 -17.81 -19.46 MSCI World IMI 2021 18.71 21.56 0.06 300 2020 16.81 16.48 18.78 MSCI Emerging Markets IMI 281.58 261.64 2019 27.04 28.20 18.10 2018 -9.61 -8.93 -14.71 2017 24.58 23.09 37.28 200 2016 8.96 8.82 10.30 2015 -1.68 -0.26 -13.55 147.62 2014 4.36 5.07 -1.42 100 2013 24.17 28.09 -1.86 2012 17.04 16.75 19.08 2011 -7.43 -5.53 -19.24 2010 14.87 14.10 20.22 0 2009 37.18 32.35 82.88 Jan 08 May 09 Jul 10 Oct 11 Jan 13 Apr 14 Jul 15 Oct 16 Jan 18 Apr 19 Jul 20 Oct 21 Jan 23
MSCI Emerging Markets IMI 5.01 20.92 18.78 16.73 0.19 -0.02 0.18 0.21 65.34 2007-10-31—2008-10-27 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. 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 IMI Index was launched on Jun 05, 2007. 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 IMI Index (USD) | msci.com
JAN 31, 2023 Index Factsheet
INDEX CHARACTERISTICS TOP 10 CONSTITUENTS
MSCI ACWI IMI Float Adj Mkt Index Sector Number of 9,142 Cap Wt. (%) ( USD Billions) Constituents APPLE 2,318.85 3.39 Info Tech Mkt Cap ( USD Millions) MICROSOFT CORP 1,755.73 2.57 Info Tech Index 68,392,482.99 AMAZON.COM 945.58 1.38 Cons Discr Largest 2,318,848.81 ALPHABET A 592.64 0.87 Comm Srvcs Smallest 12.57 ALPHABET C 553.95 0.81 Comm Srvcs Average 7,481.13 NVIDIA 486.47 0.71 Info Tech Median 1,125.90 EXXON MOBIL CORP 483.49 0.71 Energy UNITEDHEALTH GROUP 466.93 0.68 Health Care TESLA 461.36 0.67 Cons Discr JOHNSON & JOHNSON 429.66 0.63 Health Care Total 8,494.67 12.42
FACTORS - KEY EXPOSURES THAT DRIVE RISK AND RETURN
Communication Services 6.66% Materials 5.51% Energy 5.25%
Real Estate 3.35% Utilities 2.97%
MSCI ACWI IMI Index (USD) | msci.com
JAN 31, 2023 Index Factsheet
INDEX FRAMEWORK The index is based on the MSCI Global Investable Market Indexes (GIMI) Methodology —a comprehensive and consistent approach to index construction that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations. This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability and replicability. The index is reviewed quarterly—in February, May, August and November—with the objective of reflecting change in the underlying equity markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and the large, mid and small capitalization cutoff points are recalculated.
This summary is provided for illustrative purposes only and does not include all material elements of the index or its methodology. For a complete description of the index methodology, please see 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 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.
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