MSCI Europe Small Cap Index

MSCI EUROPE SMALL CAP INDEX (USD)
The MSCI Europe Small Cap Index captures small cap representation across the 15 Developed Markets (DM) countries in Europe*. With
946 constituents, the index covers approximately 14% of the free ﬂoat-adjusted market capitalization in the European equity universe.
CUMULATIVE INDEX PERFORMANCE - GROSS RETURNS
ANNUAL PERFORMANCE (%)
(USD) (MAR 2002 – MAR 2017)
484.46
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
411.61
400
289.99
200
50
Mar 02
Jun 03
Sep 04
Dec 05
MSCI Europe
Small Cap
Year
MSCI Europe Small Cap
MSCI World Small Cap
MSCI ACWI IMI
Mar 07
Jun 08
Sep 09
Dec 10
INDEX PERFORMANCE — GROSS RETURNS
Mar 12
Jun 13
Sep 14
Dec 15
Mar 17
MSCI World
MSCI ACWI IMI
Small Cap
-1.68
11.28
-6.18
39.96
29.53
-19.80
21.88
65.42
-54.03
2.87
45.75
19.41
33.25
62.22
13.25
0.12
2.32
32.92
18.14
-8.71
26.57
44.75
-41.60
1.12
17.56
16.08
24.74
58.42
FUNDAMENTALS
(%) ( MAR 31, 2017 )
8.96
-1.68
4.36
24.17
17.04
-7.43
14.87
37.18
-42.01
11.66
21.49
12.06
16.93
36.18
( MAR 31, 2017 )
ANNUALIZED
1 Mo
3 Mo
1 Yr
YTD
3 Yr
5 Yr
10 Yr
Since
Dec 29, 2000
Div Yld (%)
P/E
P/E Fwd
P/BV
MSCI Europe Small Cap
3.38
8.51
7.81
8.51
1.59
11.20
3.68
9.83
2.38
22.99
16.78
1.90
MSCI World Small Cap
0.80
5.36
18.37
5.36
5.90
11.06
6.07
9.48
1.85
31.26
19.82
1.96
MSCI ACWI IMI
1.25
6.92
16.00
6.92
5.63
9.13
4.78
5.77
2.35
21.88
16.30
2.16
INDEX RISK AND RETURN CHARACTERISTICS
( MAR 31, 2017 )
ANNUALIZED STD DEV (%) 2
MSCI Europe Small Cap
MSCI World Small Cap
MSCI ACWI IMI
SHARPE RATIO 2 , 3
MAXIMUM DRAWDOWN
Turnover
(%) 1
3 Yr
5 Yr
10 Yr
3 Yr
5 Yr
10 Yr
Since
Dec 29, 2000
(%)
Period YYYY-MM-DD
9.26
8.69
2.62
14.16
12.08
10.82
15.27
12.01
11.07
23.63
18.95
17.22
0.16
0.51
0.53
0.76
0.91
0.82
0.23
0.36
0.30
0.47
0.51
0.33
68.19
61.08
58.28
2007-07-19—2009-03-09
2007-07-13—2009-03-09
2007-10-31—2009-03-09
1
Last 12 months
2
Based on monthly gross returns data
3
Based on ICE LIBOR 1M
* DM countries in Europe include: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK.
The MSCI Europe Small Cap Index was launched on Jan 01, 2001. Data prior to the launch date is back-tested data (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 EUROPE SMALL CAP INDEX
MAR 31, 2017
INDEX CHARACTERISTICS
TOP 10 CONSTITUENTS
MSCI Europe Small Cap
Number of
Constituents
Country
946
MTU AERO ENGINES
NEW INFORMA
MICRO FOCUS INTL
WIRECARD
SMURFIT KAPPA GROUP
TELEPERFORMANCE
RENTOKIL INITIAL
CLARIANT
GAMESA CORP TECNOLOGICA
MELROSE INDUSTRIES
Total
Mkt Cap ( USD Millions)
Index
Largest
Smallest
Average
Median
1,181,414.02
6,782.44
16.53
1,248.85
896.68
SECTOR WEIGHTS
DE
GB
GB
DE
IE
FR
GB
CH
ES
GB
Float Adj Mkt Cap
( USD Billions)
Index
Wt. (%)
Sector
6.78
6.72
6.53
6.52
6.26
6.26
5.64
5.64
5.30
5.26
60.91
0.57
0.57
0.55
0.55
0.53
0.53
0.48
0.48
0.45
0.45
5.16
Industrials
Cons Discr
Info Tech
Info Tech
Materials
Industrials
Industrials
Materials
Industrials
Industrials
COUNTRY WEIGHTS
8.22%
9.36%
7.78%
4.97%
10.51%
31.59%
7.76%
8.64%
3.6%
2.62%
13.57%
9.07%
1.57%
23.25%
11.42%
31.52%
14.55%
Industrials 23.25%
Consumer Discretionary 14.55%
Information Technology 10.51%
Materials 7.78%
Real Estate 9.36%
Consumer Staples 4.97%
Financials 13.57%
United Kingdom 31.52%
Health Care 8.22%
France 7.76%
Energy 3.6%
Germany 11.42%
Sweden 9.07%
Switzerland 8.64%
Other 31.59%
Utilities 2.62%
Telecommunication Services 1.57%
INDEX METHODOLOGY
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 small capitalization cutoﬀ points are recalculated.
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MSCI EUROPE SMALL CAP INDEX

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