What is MSCI EMU Index
The MSCI EMU Index is a market capitalization weighted index maintained by Morgan Stanley Capital International (MSCI). The MSCI EMU index is an equity index which tracks the largest companies from the Eurozone.
BREAKING DOWN MSCI EMU Index
The MSCI EMU index includes about 248 (as of the end of 2017) constituents, which represents approximately 85 percent of the total market capitalization of the Eurozone. As of June 2008, the MSCI EMU Index consisted of stocks in the following 11 developed-market countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal and Spain. The index contains almost 300 stocks and represents about 85 percent of the market capitalization in these specific countries.
France holds the largest share of companies in the MSCI EMU with 32.80 percent of the index, followed by Germany with 30.19 percent and the Netherlands with 10.96 percent. In terms of industry makeup, the MSCI EMU index shows a tilt towards financials services 20.27 percent, industrials at 15.18 percent and consumer discretionary with 13.85 percent.
Investing in the MSCI EMU in U.S. Markets
For those who wish to invest in the MSCI EMU in the U.S., the iShares MSCI EMU Index Fund is designed to follow the price and yield performance of publicly traded securities in the aggregate in the European Monetary Union (EMU) markets, as measured by the MSCI EMU Index. The MSCI EMU Index seeks to measure the performance of the equity market of the EMU member countries, which includes those members of the European Union who have adopted the Euro as its currency. The Index is a capitalization-weighted index that aims to capture 85 percent of the publicly available total market capitalization. Component companies are adjusted for available float and must meet objective criteria for inclusion in the Index. The MSCI EMU Index is reviewed quarterly. The MSCI EMU Index Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the index. The Fund’s investment advisor is Barclays Global Fund Advisors.
The iShares MSCI EMU Index Fund started on July 25, 2000. As of April 11, 2018, the iShares MSCI EMU Index Fund is valued at $13,987,790,518, and its price-to-earnings ratio is 14.59. The top 10 companies that are held in the ETF by value include Total SA, Banco Santander SA, SAP, Allianz, Bayer AG, Siemen N NG, LVMH Moet Hennessy Louis Vuitton S, BASF N and Unilever DRC NV.