Fund Description

The fund typically invests at least 80% of its assets in securities included in the MSCI ACWI (All Country World Index) ex USA Index, as well as in depositary receipts representing these securities. This index serves as a market capitalization-weighted benchmark designed to measure the equity market performance of developed and emerging markets, excluding the United States. Effective December 11, 2025, the fund's investment policy will include derivative instruments that provide exposure to these investments or related market risk factors. The fund employs statistical sampling techniques based on factors like capitalization, industry exposures, and financial metrics to aim for returns that replicate those of the MSCI ACWI ex USA Index, and also engages in lending securities to generate additional income.