SPDR MSCI ACWI ex-US ETF(AMEX:CWI)

CWI offers market-like coverage of the global ex-US equity space. The fund employs a sampling method, meaning it will not hold all the securities of the index but may purchase a subset of the securities in an effort to hold those with similar risk and return characteristics of the Index. It tilts larger than our benchmark due to its exclusion of small-caps, but otherwise looks like the market at large. The funds lack of small-caps does not have significant effect on its performance. The components of the index are selected and weighed based on their free-float market cap. The index is rebalanced quarterly while cutoff points are recalculated semi-annually.