Fund Portfolio – Mackenzie Maximum Diversification Developed Europe Index ETF | Mackenzie Investments
MEU

Mackenzie Maximum Diversification Developed Europe Index ETF

NAV:

(18/10/2019)
C$22.02

MARKET PRICE:

(18/10/2019)
C$22.11
Asset Class: Regional Equity

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Major Holdings (%) Help Top holdings by percentage

As of October 17, 2019
Major holdings represent 14.1% of the fund.
View all holdings
Total # of
Equity Holdings
372
Holding name, country and sector Percentage of holding in fund
SES (SESG)
1.7%
ROCHE HOLDING AG-GENUSSCH (ROG)
1.5%
GENMAB A/S (GMAB)
1.5%
MOWI ASA (MOWI)
1.4%
NOVARTIS AG-REG (NOVN)
1.4%
KERRY GROUP (KYG)
1.4%
NESTLE SA-REG (NESN)
1.3%
NESTE OYJ (NESTE)
1.3%
ASTRAZENECA PLC (AZN)
1.3%
KONINKLIJKE AHOLD NV (AD)
1.3%

Complete Fund Holdings Help Full holdings list

As of October 17, 2019
Holding Name Ticker Market Value CAD (000s) % of NAV
SES SESG 329 1.7%
ROCHE HOLDING AG-GENUSSCH ROG 307 1.5%
GENMAB A/S GMAB 294 1.5%
MOWI ASA MOWI 284 1.4%
NOVARTIS AG-REG NOVN 277 1.4%
KERRY GROUP KYG 273 1.4%
NESTLE SA-REG NESN 268 1.3%
NESTE OYJ NESTE 262 1.3%
ASTRAZENECA PLC AZN 259 1.3%
KONINKLIJKE AHOLD NV AD 249 1.3%
DEUTSCHE WOHNEN AG-BR DWNI 249 1.3%
NOVO NORDISK A/S-B NOVOB 247 1.2%
AMARIN CORP PLC -ADR AMRN 238 1.2%
CARREFOUR SA CA 234 1.2%
GLAXOSMITHKLINE PLC GSK 233 1.2%
INGENICO GROUP ING 227 1.1%
SANOFI SAN 219 1.1%
CHOCOLADEFABRIKEN LINDT-R LISN 212 1.1%
TESCO PLC TSCO 211 1.1%
DIAGEO PLC DGE 211 1.1%
MICRO FOCUS INTL B SHARE MCRO 208 1.0%
UNILEVER NV UNIA 194 1.0%
GETLINK GET 193 1.0%
OSRAM LICHT AG OSR 186 0.9%
ELEKTA AB EKTAB 184 0.9%
UCB SA UCB 182 0.9%
NEXT PLC NXT 178 0.9%
ASCENDIS PHARMA A/S - ADR ASND 174 0.9%
PANDORA A/S PNDORA 170 0.9%
METRO AG B4B 167 0.8%
EUTELSAT COMMUNICATIONS ETL 165 0.8%
ATLANTIA SPA ATL 162 0.8%
JERONIMO MARTINS JMT 162 0.8%
ANHEUSER-BUSCH INBEV SA/N ABI 161 0.8%
PEARSON PLC PSON 156 0.8%
VESTAS WIND SYSTEMS A/S VWS 156 0.8%
DECHRA PHARMACEUTICALS PL DPH 154 0.8%
"KESKO OYJ, CLASS" KESKOB 153 0.8%
ICA GRUPPEN AB ICA 151 0.8%
ROYAL UNIBREW RBREW 150 0.8%
UNILEVER PLC ULVR 145 0.7%
UBI BANCA SPA UBI 145 0.7%
FLUTTER ENTERTAINMENT PLC FLTR 144 0.7%
RECKITT BENCKISER GROUP P RB/ 142 0.7%
HENNES & MAURITZ AB-B SHS HMB 141 0.7%
GW PHARMACEUTICALS PLC GWPH 140 0.7%
ORION OYJ-CLASS B ORNBV 138 0.7%
VONOVIA SE VNA 134 0.7%
CENTRICA PLC CNA 133 0.7%
IG GROUP HOLDINGS PLC IGG 128 0.6%
SIGNIFY NV LIGHT 127 0.6%
OCADO GROUP PLC OCDO 127 0.6%
SAINSBURY (J) PLC SBRY 124 0.6%
COLOPLAST-B COLOB 122 0.6%
LLOYDS BANKING GROUP PLC LLOY 121 0.6%
SUNRISE COMMUNICATIONS GR SRCG 119 0.6%
COLRUYT SA COLR 119 0.6%
PENNON GROUP PLC PNN 118 0.6%
DANONE BN 116 0.6%
AXA SA CS 116 0.6%
NATIONAL GRID PLC NG/ 113 0.6%
RED ELECTRICA CORPORACION REE 113 0.6%
GLANBIA PLC GLB 112 0.6%
VODAFONE GROUP PLC VOD 112 0.6%
ROYAL MAIL PLC RMG 110 0.6%
AMBU A/S-B AMBUB 109 0.5%
TATE & LYLE PLC TATE 108 0.5%
ENEL SPA ENEL 103 0.5%
ANDRITZ AG ANDR 100 0.5%
EASYJET PLC EZJ 95 0.5%
ESSILORLUXOTTICA EL 94 0.5%
H LUNDBECK A/S LUN 93 0.5%
RELX PLC REL 90 0.5%
PSP SWISS PROPERTY AG-REG PSPN 89 0.5%
COMPASS GROUP PLC CPG 89 0.4%
HSBC HOLDINGS PLC HSBA 89 0.4%
MUENCHENER RUECKVER AG-RE MUV2 88 0.4%
ADIDAS AG ADS 88 0.4%
ARGENX SE ARGX 85 0.4%
JUST EAT PLC JE/ 84 0.4%
INTESA SANPAOLO ISP 82 0.4%
UNITED UTILITIES GROUP PL UU/ 78 0.4%
INDUSTRIA DE DISENO TEXTI ITX 77 0.4%
BANCO BILBAO VIZCAYA ARGE BBVA 77 0.4%
KINGSPAN GROUP KSP 76 0.4%
ORANGE ORA 74 0.4%
GREGGS PLC GRG 74 0.4%
ELISA OYJ ELISA 73 0.4%
ORSTED A/S ORSTED 73 0.4%
SEVERN TRENT PLC SVT 73 0.4%
AROUNDTOWN SA AT1 72 0.4%
CELLNEX TELECOM SA CLNX 72 0.4%
DANSKE BANK A/S DANSKE 71 0.4%
TELECOM ITALIA-RSP TITR 67 0.3%
CHOCOLADEFABRIKEN LINDT-P LISP 67 0.3%
ANGLO AMERICAN PLC AAL 67 0.3%
PERNOD RICARD SA RI 67 0.3%
NOKIA OYJ NOKIA 65 0.3%
ERSTE GROUP BANK AG EBS 65 0.3%
SWISS RE AG SREN 64 0.3%
NORDEA BANK ABP NDA 64 0.3%
DEUTSCHE BOERSE AG DB1 64 0.3%
ERICSSON LM-B SHS ERICB 62 0.3%
GLENCORE PLC GLEN 62 0.3%
UNICREDIT SPA UCG 61 0.3%
ENDESA S.A. ELE 60 0.3%
SODEXO SA SW 60 0.3%
CONVATEC GROUP PLC CTEC 60 0.3%
DEUTSCHE LUFTHANSA-REG LHA 59 0.3%
TAG IMMOBILIEN AG TEG 55 0.3%
NOVOZYMES A/S-B SHARES NZYMB 55 0.3%
ZALANDO SE ZAL 54 0.3%
BAYERISCHE MOTOREN WERKE BMW 53 0.3%
TLG IMMOBILIEN AG TLG 53 0.3%
KONINKLIJKE KPN NV KPN 53 0.3%
BARCLAYS PLC BARC 52 0.3%
SOCIETE GENERALE SA GLE 50 0.3%
L'OREAL OR 50 0.2%
DSV PANALPINA A/S DSV 49 0.2%
GIVAUDAN-REG GIVN 49 0.2%
BT GROUP PLC BT/A 49 0.2%
TAKEAWAY.COM NV TKWY 48 0.2%
E.ON SE EOAN 48 0.2%
LEG IMMOBILIEN AG LEG 47 0.2%
ZURICH INSURANCE GROUP AG ZURN 46 0.2%
VIVENDI VIV 46 0.2%
ENGIE ENGI 46 0.2%
SMITH & NEPHEW PLC SN/ 46 0.2%
BANCO BPM SPA BAMI 45 0.2%
HEINEKEN NV HEIA 45 0.2%
KONE OYJ-B KNEBV 45 0.2%
FRESENIUS SE & CO KGAA FRE 45 0.2%
MICHELIN (CGDE) ML 44 0.2%
ASSICURAZIONI GENERALI G 44 0.2%
DIALOG SEMICONDUCTOR PLC DLG 43 0.2%
RWE AG RWE 42 0.2%
INTL CONSLIDATED A-SPONS ICAGY 42 0.2%
KINGFISHER PLC KGF 42 0.2%
ESSITY AKTIEBOLAG-B ESSITYB 41 0.2%
CHR HANSEN HOLDING A/S CHR 41 0.2%
HENKEL AG & CO KGAA VORZU HEN3 40 0.2%
WOLTERS KLUWER WKL 40 0.2%
NATURGY ENERGY GROUP SA NTGY SM 40 0.2%
SAMPO OYJ-A SHS SAMPO 40 0.2%
ILIAD SA ILD 39 0.2%
AKZO NOBEL AKZA 38 0.2%
GEBERIT AG-REG GEBN 38 0.2%
HERMES INTERNATIONAL RMS 37 0.2%
SWEDBANK AB - A SHARES SWEDA 37 0.2%
SSE PLC SSE 37 0.2%
G4S PLC GFS 34 0.2%
MERCK KGAA MRK 34 0.2%
CARLSBERG AS-B CARLB 34 0.2%
WIRECARD AG WDI 34 0.2%
PEUGEOT SA UG 34 0.2%
HIKMA PHARMACEUTICALS PLC HIK 34 0.2%
FIAT CHRYSLER AUTOMOBILES FCA 33 0.2%
SKANDINAVISKA ENSKILDA BA SEBA 33 0.2%
BANK OF IRELAND GROUP PLC BIRG 32 0.2%
CONTINENTAL AG CON 32 0.2%
WPP PLC WPP 32 0.2%
FRESENIUS MEDICAL CARE AG FME 32 0.2%
CAIXABANK S.A CABK 31 0.2%
BANCO DE SABADELL SA SAB 31 0.2%
AENA SME SA AENA 31 0.2%
ROYAL BANK OF SCOTLAND GR RBS 30 0.2%
FERROVIAL SA FER 29 0.1%
ENAGAS SA ENG 29 0.1%
DNB ASA DNB 29 0.1%
VEOLIA ENVIRONNEMENT VIE 29 0.1%
SBM OFFSHORE NV SBMO 28 0.1%
SWISSCOM AG-REG SCMN 28 0.1%
TELENOR ASA TEL 28 0.1%
LONDON STOCK EXCHANGE GRO LSE 28 0.1%
OMV AG OMV 28 0.1%
SIKA AG-BR SIKA 27 0.1%
INFORMA PLC INF 27 0.1%
SWISS PRIME SITE AG SPSN 27 0.1%
SVENSKA HANDELSBANKEN-A S SHBA 27 0.1%
RUBIS RUI 26 0.1%
BEIERSDORF AG BEI 26 0.1%
AMS AG AMS 26 0.1%
SONOVA HOLDING AG SOON 26 0.1%
CREDIT AGRICOLE SA ACA 25 0.1%
SEGRO PLC SGRO 25 0.1%
AGEAS AGS 25 0.1%
MARKS & SPENCER GROUP PLC MKS 24 0.1%
IMMOFINANZ AG IIA 23 0.1%
ASSOCIATED BRITISH FOODS ABF 23 0.1%
FORTUM OYJ FORTUM 22 0.1%
TELEFONICA S.A. TEF 22 0.1%
SNAM SPA SRG 22 0.1%
MEDIOBANCA SPA MB 22 0.1%
DASSAULT SYSTEMES SA DSY 21 0.1%
HENKEL KGAA HEN 21 0.1%
PERSIMMON PLC PSN 21 0.1%
TELIA CO AB TELIA 21 0.1%
SAGE GROUP PLC/THE SGE 20 0.1%
AMPLIFON SPA AMP 20 0.1%
EDF EDF 20 0.1%
WHITBREAD PLC WTB 20 0.1%
EPIROC AB-A EPIA 20 0.1%
TERNA SPA TRN 20 0.1%
GECINA SA GFC 20 0.1%
PUBLICIS GROUPE PUB 19 0.1%
ABN AMRO BANK NV ABN 19 0.1%
BARRATT DEVELOPMENTS PLC BDEV 19 0.1%
GRIFOLS SA GRF 19 0.1%
STANDARD LIFE ABERDEEN PL SLA 19 0.1%
KLEPIERRE LI 19 0.1%
BUNZL PLC BNZL 19 0.1%
LAND SECURITIES GROUP PLC LAND 19 0.1%
KUEHNE & NAGEL INTL AG-RE KNIN 18 0.1%
HEINEKEN HOLDING NV - A HEIO 18 0.1%
EDP-ENERGIAS DE PORTUGAL EDP 18 0.1%
SKANSKA AB-B SHS SKAB 18 0.1%
NN GROUP NV NN 17 0.1%
PROSIEBENSAT.1 MEDIA SE PSM 17 0.1%
UMICORE UMI 17 0.1%
AP MOLLER-MAERSK A/S-B MAERSKB 17 0.1%
TUI AG-DI TUI 17 0.1%
VALEO SA FR 17 0.1%
GALP ENERGIA SGPS SA GALP 16 0.1%
THYSSENKRUPP AG TKA 16 0.1%
RSA INSURANCE GROUP PLC RSA 15 0.1%
GALAPAGOS NV GLPG 15 0.1%
EQUINOR ASA EQNR 15 0.1%
BERKELEY GROUP HOLDINGS/T BKG 15 0.1%
TAYLOR WIMPEY PLC TW/ 15 0.1%
TELE2 AB-B SHS TEL2B 15 0.1%
PUMA SE PUM 15 0.1%
ORKLA ASA ORK 15 0.1%
SCOR SE SCR 14 0.1%
RENTOKIL INITIAL PLC RTO 14 0.1%
RIGHTMOVE PLC RMV 14 0.1%
CARNIVAL PLC CCL 14 0.1%
GVC HOLDINGS PLC GVC 14 0.1%
ADP ADP 14 0.1%
HISCOX LTD HSX 14 0.1%
SIEMENS HEALTHINEERS AG SHL 14 0.1%
KBC GROEP NV KBC 14 0.1%
AUTO TRADER GROUP PLC AUTO 14 0.1%
WM MORRISON SUPERMARKETS MRW 13 0.1%
SIEMENS GAMESA RENEWABLE SGRE 13 0.1%
COCA-COLA HBC AG-DI CCH 13 0.1%
RIO TINTO PLC RIO 13 0.1%
TELECOM ITALIA SPA TIT 13 0.1%
ADMIRAL GROUP PLC ADM 13 0.1%
IPSEN IPN 13 0.1%
BP PLC BP/ 13 0.1%
SCOUT24 AG G24 13 0.1%
DELIVERY HERO SE DHER 12 0.1%
POSTE ITALIANE SPA PST 12 0.1%
SUEZ SEV 12 0.1%
GN STORE NORD A/S GN 12 0.1%
GRIFOLS SA - B GRF/P 12 0.1%
BELLWAY PLC BWY 12 0.1%
DAVIDE CAMPARI-MILANO SPA CPR 12 0.1%
COVIVIO COV 11 0.1%
ASR NEDERLAND NV ASRNL 11 0.1%
UBISOFT ENTERTAINMENT UBI 11 0.1%
DIRECT LINE INSURANCE GRO DLG 11 0.1%
HANNOVER RUECK SE HNR1 11 0.1%
SMURFIT KAPPA GROUP PLC SKG 11 0.1%
BARRY CALLEBAUT AG-REG BARN 11 0.1%
GEA GROUP AG G1A 11 0.1%
BURBERRY GROUP PLC BRBY 11 0.1%
HERA SPA HER 11 0.1%
VANGUARD EUROPEAN ETF VGK 11 0.1%
TENARIS SA TEN 11 0.1%
TRAVIS PERKINS PLC TPK 10 0.1%
NORSK HYDRO ASA NHY 10 0.1%
ISS A/S ISS 10 0.1%
UNIPER SE UN01 10 0.1%
EMS-CHEMIE HOLDING AG-REG EMSN 10 0.1%
HELVETIA HOLDING AG-REG HELN SW 10 0.1%
CASTELLUM AB CAST 10 0.1%
BANKINTER SA BKT 10 0.0%
BALOISE HOLDING AG - REG BALN 10 0.0%
EURONEXT NV ENX 10 0.0%
PROXIMUS PROX 10 0.0%
HOWDEN JOINERY GROUP PLC HWDN 9 0.0%
CARL ZEISS MEDITEC AG - B AFX 9 0.0%
B&M EUROPEAN VALUE RETAIL BME 9 0.0%
FABEGE AB FABG 9 0.0%
HOMESERVE PLC HSV 9 0.0%
JD SPORTS FASHION PLC JD/ 9 0.0%
BBA GROUP PLC BBA 9 0.0%
NMC HEALTH PLC NMC 9 0.0%
NOKIAN RENKAAT OYJ TYRESH 9 0.0%
IMCD GROUP NV IMCD 9 0.0%
GJENSIDIGE FORSIKRING ASA GJF 8 0.0%
TULLOW OIL PLC TLW 8 0.0%
CINEWORLD GROUP PLC CINE 8 0.0%
HUHTAMAKI OYJ HUH1V 8 0.0%
VERBUND AG VER 8 0.0%
BRITVIC PLC BVIC 8 0.0%
ELIS SA ELIS 8 0.0%
FASTIGHETS AB BALDER-B SH BALDB 8 0.0%
SSP GROUP PLC SSPG 8 0.0%
KONINKLIJKE VOPAK NV VPK 8 0.0%
SIMCORP A/S SIM 8 0.0%
BIOMERIEUX BIM 8 0.0%
BRITISH LAND CO PLC BLND 8 0.0%
BAYERISCHE MOTOREN WERKE- BMW3 8 0.0%
FLUGHAFEN ZUERICH AG-REG FHZN 7 0.0%
ITV PLC ITV 7 0.0%
INCHCAPE PLC INCH 7 0.0%
CTS EVENTIM AG & CO KGAA EVD 7 0.0%
DASSAULT AVIATION SA AM 7 0.0%
HUGO BOSS AG -ORD BOSS 7 0.0%
RAIFFEISEN BANK INTERNATI RBI 7 0.0%
TRYG A/S TRYG 7 0.0%
SPECTRIS PLC SXS 7 0.0%
WOOD GROUP (JOHN) PLC WG/ 7 0.0%
WIENERBERGER AG WIE 7 0.0%
FREENET AG FNTN 6 0.0%
VOESTALPINE AG VOE 6 0.0%
ITALGAS SPA IG 6 0.0%
CELLNEX TELECOM RTS 10/25 6 0.0%
TECAN GROUP AG-REG TECN 6 0.0%
LAGARDERE SCA MMB 6 0.0%
UNITED INTERNET AG-REG SH UTDI 6 0.0%
MAPFRE SA MAP 6 0.0%
SWEDISH ORPHAN BIOVITRUM SOBI 6 0.0%
DIASORIN SPA DIA 6 0.0%
DEMANT A/S DEMANT 6 0.0%
TOMRA SYSTEMS ASA TOM 6 0.0%
SCHIBSTED ASA-B SHS SCHB 6 0.0%
AAK AB AAK 6 0.0%
CYBG PLC CYBG 6 0.0%
HUSQVARNA AB-B SHS HUSQB 5 0.0%
FRAPORT AG FRANKFURT AIRP FRA 5 0.0%
TOTAL SA FP 5 0.0%
EDENRED EDEN 5 0.0%
MEGGITT PLC MGGT 5 0.0%
SEB SA SK 5 0.0%
WARTSILA OYJ. WRT1V 4 0.0%
HOCHTIEF AG HOT 4 0.0%
EPIROC AB-B EPIB 4 0.0%
BOLLORE SA BOL 4 0.0%
SECURITAS AB-B SHS SECUB 3 0.0%
ELECTROLUX AB-SER B ELUXB 3 0.0%
FUCHS PETROLUB SE -PREF FPE3 3 0.0%
NOVO-NORDISK A/S-SPONS AD NVO 3 0.0%
ANHEUSER-BUSCH INBEV-SPN BUD 1 0.0%
VOLKSWAGEN AG-PREF VOW3 1 0.0%
K+S AG SDF 1 0.0%
DNB ASA-SPONSOR ADR DNHBY 1 0.0%
ORANGE-SPON ADR ORAN 0 0.0%
SGS HOLDING SGSN 0 0.0%
INNOGY SE IGY 0 0.0%
MARINE HARVEST ASA- SPON MHGVY 0 0.0%
COVESTRO AG 1COV 0 0.0%
ICADE ICAD 0 0.0%
CARLSBERG AS-B-SPON ADR CABGY 0 0.0%
KERING KER 0 0.0%
BAYER AG-REG BAYN 0 0.0%
VINCI SA DG 0 0.0%
SILTRONIC AG WAF 0 0.0%
DEUTSCHE BANK AG-REGISTER DBK 0 0.0%
STATOIL ASA-SPON ADR EQNR 0 0.0%
AXEL SPRINGER SE SPR 0 0.0%
CNP ASSURANCES CNP 0 0.0%
BRENNTAG AG BNR 0 0.0%
SODEXO-SPONSORED ADR SDXAY 0 0.0%
ACCOR SA AC 0 0.0%
TELEPERFORMANCE TEP 0 0.0%
TDC AS TDC 0 0.0%
VOLKSWAGEN AG VOW 0 0.0%
CHR HANSEN HOLDING -SPON CHYHY 0 0.0%
DCC PLC DCC 0 0.0%
Cash, Cash Equivalents & Other 30 0.2%
Total Net Assets -- 19,869 100.0%

Asset Allocation (%) Help Holdings by region and sector

As of September 30, 2019
  • Regional Allocation
      United Kingdom
    27.4%
      France
    11.2%
      Denmark
    9.6%
      Germany
    9.5%
      Switzerland
    9.3%
      Finland
    4.5%
      Italy
    4.2%
      Sweden
    4.1%
      Netherlands
    4.1%
      Other
    15.7%
      Cash & Equivalents
    0.4%
  • Sector Allocation
      Consumer Staples 23.0%
      Health Care 19.7%
      Financials 10.2%
      Consumer Discretionary 9.9%
      Industrials 9.6%
      Communication Services 8.4%
      Utilities 6.6%
      Real Estate 4.3%
      Information Technology 3.6%
      Materials 2.2%
      Energy 2.1%
      Cash & Equivalents 0.4%

Index Provider

TOBAM

Mackenzie Maximum Diversification Index ETFs are based on TOBAM Maximum Diversification Index Series created by TOBAM S.A.S.

TOBAM is a Paris-based index provider and institutional asset manager with AUM of US$8B (31/12/15).

Fund Risk Measures:

TOBAM Maximum Diversification Developed Europe Index data © 2017, TOBAM S.A.S. All rights reserved. “TOBAM” and “Diversification Ratio” are registered trademarks and service marks of TOBAM S.A.S. or its affiliates (“TOBAM”) and are used under license for certain purposes by Mackenzie Financial Corporation. Reproduction of the TOBAM data and information in any form is prohibited except with the prior written permission of TOBAM S.A.S. Mackenzie Maximum Diversification ETFs are not sponsored, endorsed, sold or promoted by TOBAM and TOBAM makes no representation regarding the advisability of investing in such fund. TOBAM does not guarantee the accuracy or completeness of any data and information and is not responsible for any error or omission or for the results obtained from the use of such data and information. TOBAM GIVES NO EXPRESS OR IMPLIED WARRANTY, INCLUDING, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

Solactive AG is the third-party calculation agent of the TOBAM Maximum Diversification Developed Europe Index and received compensation in that capacity. Solactive AG does not sponsor, endorse, sell, or promote any investment vehicle that is offered by any third party that seeks to provide an investment return based on the performance of any index. It is not possible to invest directly in an index.

Commissions, trailing commissions, management fees, brokerage fees and expenses may be associated with investment funds. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Index performance does not include the impact of fees, commissions, and expenses that would be payable by investors in the investment products that seek to track an index.

The rate of return is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or asset allocation service or returns on investment in the investment fund or from the use of the asset allocation service.

* The TOBAM Maximum Diversification Europe Index is designed to measure the performance of large and mid capitalization equity securities of developed European markets selected and weighted to enhance diversification. On February 28, 2019, this ETF began to track a version of this index which is calculated net of withholding taxes. Index inception date: February 28, 2019.

Inception date is the date when the ETF is listed.

The Fund’s net asset value or “NAV” is determined by calculating the aggregate of the value of the Fund’s assets less its liabilities on a particular date.

The Fund’s market price is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which units of the Fund are listed for trading at market close.

The NAV return is based on the NAV of the Fund per unit and the market return is based on the market price of the Fund per unit.