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ISTOXX INDICES

iSTOXX Univest Emerging World

Index Description

The iSTOXX Univest Emerging World Index is designed to achieve sustainable carbon reduction in terms of greenhouse gas emissions and intensities over time, while tracking the STOXX Emerging Markets Index. The weighting of each constituent security is determined through an optimization process that is designed to minimize tracking error to the benchmark while improving the ESG and Carbon exposures. The iSTOXX Univest Emerging World Index tilts away from companies that are laggards in corporate governance, and other social criteria. In addition, the Index aims to reduce its greenhouse gas emissions and intensity at least by half by December 2024 (versus the baseline values of STOXX Emerging Markets Index in December 2019) and aims to track the STOXX Emerging Markets Index with a tracking error close to 0.50%.

Key facts

  • The iSTOXX Univest Emerging World Index is designed to achieve sustainable carbon reduction in terms of greenhouse gas emissions and intensities over time, while tracking the STOXX Emerging Markets Index.
  • The iSTOXX Univest Emerging World Index also tilts away from companies that are laggards in Corporate Governance, Human Capital, and Human Rights. In addition, the Index aims to reduce its greenhouse gas emissions and intensity at least by half by December 2024 (versus the baseline values of STOXX Emerging Markets Index in December 2019).
  • Use of the Axioma World-wide medium horizon fundamental factor risk model and optimization to control for unintended systematic and ESG exposures.
  • Ensures diversification using country and industry controls, and tradability by managing turnover and using liquidity constraints in the optimization.

Descriptive Statistics

Index Market Cap (USD bn) Components (USD bn) Component weight (%) Turnover (%)
Full Free-float Mean Median Largest Smallest Largest Smallest Last 12 monts
iSTOXX Univest Emerging World N/A 110.1 0.1 0.0 8.4 0.0 7.6 N/A 18.0
STOXX Emerging Markets 14,052.1 7,745.9 3.6 0.9 590.9 0.0 7.6 0.0 23.8

Supersector weighting (top 10)

Country weighting

Risk and return figures1

Index returns Return (%) Annualized return (%)
Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y
iSTOXX Univest Emerging World 2.3 2.6 10.6 -14.5 15.2 N/A N/A 10.7 -5.1 2.9
STOXX Emerging Markets 2.5 2.9 10.7 -14.2 15.2 N/A N/A 10.8 -5.0 2.9
Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2
iSTOXX Univest Emerging World N/A N/A 11.9 16.0 17.6 N/A N/A 0.5 -0.4 0.1
STOXX Emerging Markets N/A N/A 11.8 16.0 17.6 N/A N/A 0.5 -0.4 0.1
Index to benchmark Correlation Tracking error (%)
iSTOXX Univest Emerging World 1.0 1.0 1.0 1.0 1.0 0.3 0.3 0.3 0.4 0.3
Index to benchmark Beta Annualized information ratio
iSTOXX Univest Emerging World 1.0 1.0 1.0 1.0 1.0 -5.6 -2.9 -0.3 -0.2 0.0

1For information on data calculation, please refer to STOXX calculation reference guide

2Based on EURIBOR1M

(USD, Gross Return), all data as of March 29, 2024

ISTOXX INDICES

iSTOXX Univest Emerging World

Fundamentals

Index Price/earnings incl. negative Price/earnings excl. negative Price/book Dividend yield (%)3 Price/sales Price/cash flow
Trailing Projected Trailing Projected Trailing Trailing Trailing
iSTOXX Univest Emerging World 16.3 13.1 14.5 14.5 1.6 2.9 0.8 16.3
STOXX Emerging Markets 16.5 13.2 14.6 14.6 1.7 3.0 0.8 16.7

Performance and annual returns

Methodology

The iSTOXX Univest Emerging World Index is constructed by solving an optimization problem using Axioma's portfolio optimization software and the Axioma World-wide medium horizon fundamental factor risk model.

The optimization aims to track the parent index while satisfying the Climate, Social and Governance constraints, and managing risk, liquidity, and tradability of the portfolio.

Versions and symbols

Index ISIN Symbol Bloomberg Reuters
Gross Return EUR CH1256153979 ISXUSEGR .ISXUSEGR
Price EUR CH1256154001 ISXUSEP .ISXUSEP
Net Return EUR CH1256153987 ISXUSER .ISXUSER
Net Return USD CH1256154019 ISXUSEER .ISXUSEER
Price USD CH1256153995 ISXUSEE .ISXUSEE
Gross Return USD CH1256154027 ISXUSEEG .ISXUSEEG

Quick Facts

Weighting Price weighted
Cap Factor N/A
No. of components Variable
Review frequency Quarterly
Calculation/distribution Realtime 15 sec
Calculation hours 00:00:00 22:15:00
Base value/base date 100 as of March. 19, 2018
History Available from Mar. 19, 2018
Inception date March. 29, 2023
To learn more about the inception date, the currency, the calculation hours and historical values, please see our data vendor code sheet.

ISTOXX INDICES

iSTOXX Univest Emerging World

Top 10 Components4

Company Supersector Country Weight
TSMC Technology Taiwan 7.560%
Samsung Electronics Co Ltd Telecommunications South Korea 4.256%
TENCENT HOLDINGS Technology China 3.159%
ALIBABA GROUP HOLDING Retail China 2.043%
HDFC Bank Ltd Banks India 1.273%
INTERNATIONAL HOLDINGS Financial Services United Arab Emirates 1.220%
Reliance Industries Ltd Energy India 1.187%
SK HYNIX INC Technology South Korea 0.930%
MEITUAN Technology China 0.904%
Infosys Ltd Technology India 0.897%

3Net dividend yield is calculated as net return index return minus price index return

4Based on the composition as of March 29, 2024