FTSE Global All Cap ex US Index

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The FTSE Global All Cap ex US Index is a free-float, [note 1] market-capitalization weighted index representing the performance of around 5350 large, mid and small cap companies in 46 developed and emerging markets worldwide, excluding the USA. The index is derived from the FTSE Global Equity Index Series [1] and was launched on September 1, 2003 (base date December 31, 2002). [2]

The index is tracked by the Vanguard Total International index fund investor shares (VGTSX) and admiral shares (VTIAX); and the Vanguard Total International Stock ETF (VXUS). [note 2] [note 3]

Methodology

FTSE index methodology is summarized in the table:

FTSE methodology summary [3]
Weighting methodology Market-cap-weighted, adjusted for free float.
Rebalancing methodology Periodic reviews. Annual country reviews on a region-by-region basis.
Tier 1: Broad-market classification Included: Shares listed on a stock exchange or recognized market that are in top 98% of each region by full market cap. Excluded: Convertible preferred shares or loan stocks.
Tier 2: Economic classification (developed or emerging markets
  • Wealth (GNI per capita)
  • Total stock market capitalization
  • Breadth and depth of market
  • Any restrictions on foreign investment
  • Reliable and transparent price discovery
  • Efficient market infrastructure
  • Oversight by independent regulator
Tier 3: Geographical classification (region or country
  • Permission for direct equity investment by non-nationals
  • Availability of timely data
  • Ability to retrieve dividends and capital gains in a timely manner
  • Demonstration of international interest
  • Existence of adequate liquidity
Tier 4: Style classification (market-cap breakdown for large-, mid-, and small-cap)
  • Large-cap: >72%
  • Mid-cap: Between 72% and 92%
  • Small-cap: (Applies buffers for each capitalization band)

Country constituents

The index is comprised of holdings from 46 countries.

FTSE Global All Cap ex US Index constituent countries (June 28, 2013)[4]
Country Country Country Country Country Country
Australia Czech Republic Hungary Malaysia Philippines Switzerland
Austria Denmark India Mexico Poland Taiwan
Belgium/Luxembourg Egypt Indonesia Morocco Portugal Thailand
Brazil Finland Ireland Netherlands Russia Turkey
Canada France Israel New Zealand Singapore United Arab Emirates
Chile Germany Italy Norway South Africa United Kingdom
China Greece Japan Pakistan Spain
Colombia Hong Kong Korea Peru Sweden

Market capitalization ranges

The FTSE Global All Cap ex US Index provides coverage of 98% of the international stock market capitalization. FTSE considers the market to consist of: [5]

  • Large cap stocks 68%
  • Mid cap stocks 18%
  • Small cap stocks 12%

Annual returns

Annual returns for the index for the period 2003 - forward are included in the table below. Benchmark returns are adjusted for withholding taxes.

Table. FTSE Global All Cap ex US Index [6]
Year Returns
2018 -14.61%
2017 27.41%
2016 4.72%
2015 -4.29%
2014 -3.39%
2013 15.59%
2012 17.60%
2011 -14.25%
2010 12.98%
2009 44.63%
2008 -46.13%
2007 17.39%
2006 28.36%
2005 17.54%
2004 22.32%
2003 43.10%

(View Google Spreadsheet in browser, then File --> Download as to download the file.)


Vendor codes

Real time vendor codes for the FTSE All-World Ex US Index are contained in the following document file extracted from the spreadsheet at FTSE Real-Time Vendor Codes,:

(View Google Spreadsheet in browser, then File --> Download as to download the file.)


Notes

  1. In March 2013, FTSE adopted a fundamental policy of using actual free float percentages (rounded up to the next 1%) in its indexes. The move was taken to reduce unnecessary turnover in the indexes. See Free Float Adjusted - FTSE, for extended discussion.
  2. Prior to June, 2013, the Vanguard Total International index fund investor shares (VGTSX) and admiral shares ((VTIAX); and the Vanguard Total International Stock ETF (VXUS) tracked the Total International Composite Index through August 31, 2006; MSCI EAFE + Emerging Markets Index through December 15, 2010; MSCI ACWI ex USA IMI Index through June 2, 2013;
  3. The Vanguard Total International Stock Index Fund is also available as Institutional (VTSNX); Institutional Plus (VTPSX); and Signal (VTSGX} share classes. These share classes are commonly used in the corporate retirement plan market.

References

External links