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Anti-Benchmark^® strategies
Anti-Benchmark^® funds
MAXDIV^® range of indices
Diversified Benchmark range of Indices
TOBAM Bitcoin Strategy

MAXDIV^® Range of Indices

Based on original research from TOBAM, the MAXDIV^® range of indices helps investors to avoid portfolio concentration. Constituents are weighted so that each effective risk factor contributes in a balanced manner to the risk of the portfolio, as opposed to a market capitalization weighted basis.

Indices are based on the Maximum Diversification^® approach, constrained to fit the requirements of replication.

Important Information: Capital at Risk. All financial investments involve an element of risk. Therefore, the value of your investment and the income from it will vary and your initial investment amount cannot be guaranteed. The fund invests in financial instruments which are denominated in other currencies; as such changes in the relevant exchange rate will affect the value of the investment. Investors should understand that capital growth is not a priority for the Fund and that income levels will vary and are not guaranteed.

TOBAM Maximum Diversification
All World Developed ex North America Index
TOBAM Maximum Diversification
All World Developed Index
TOBAM Maximum Diversification
All World Index
TOBAM Maximum Diversification
Canada Index
TOBAM Maximum Diversification
Developed Asia Pacific ex Japan Index
TOBAM Maximum Diversification
Developed Europe Index
TOBAM Maximum Diversification
Developed Eurozone Index
TOBAM Maximum Diversification
Emerging Index
TOBAM Maximum Diversification
Japan Index
TOBAM Maximum Diversification
North America Index
TOBAM Maximum Diversification
UK Index
TOBAM Maximum Diversification
USA Index

CHARACTERISTICS

As of 2021-08-02

Ticker : MDWXNATU Index

Calculating Agent : Solactive

Base Date : 2001-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 7253.49

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.14%	1.85%	3.44%	4.14%	20.18%	23.49%	45.86%	611.20%
Volatility	-	10.61%	11.09%	10.85%	11.35%	13.84%	12.09%	12.93%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 718

Max. Market Cap : 356.573 Billion USD

Min. Market Cap : 2.123 Billion USD

Avg. Market Cap : 43.987 Billion USD

Median Market Cap : 20.65 Billion USD

Top Constituents

	Name
1.	NESTLE SA-REG
2.	ROCHE HOLDING AG-GENUSSCHEIN
3.	HELLOFRESH SE
4.	JARDINE MATHESON HLDGS LTD
5.	OCADO GROUP PLC
6.	KERRY GROUP PLC-A
7.	FORTESCUE METALS GROUP LTD
8.	NOVO NORDISK A/S-B
9.	EUROFINS SCIENTIFIC
10.	PANDORA A/S

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

19.95%

Consumer Staples

19.70%

Consumer Discretionary

17.37%

Industrials

9.61%

Financials

7.69%

Basic Materials

6.33%

Technology

5.33%

Telecommunications

5.08%

Real Estate

4.49%

Utilities

2.66%

Energy

1.79%

Breakdown by Country

Japan

28.76%

Great Britain

13.26%

Australia

7.72%

France

7.72%

Hong Kong

7.08%

Denmark

6.38%

Switzerland

5.53%

Germany

4.19%

Finland

2.58%

Spain

2.29%

Netherlands

2.09%

Italy

1.94%

Israel

1.86%

Ireland

1.71%

Belgium

1.68%

Sweden

1.61%

New Zealand

1.35%

Norway

0.98%

Singapore

0.83%

Austria

0.24%

Portugal

0.19%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

Our research indicates that the systematic returns available from equity markets are higher than using market cap-weighted benchmarks, and are also far more stable over time. Using a biased benchmark as a reference carries heavy, costly, implicit bets which evolve dynamically. On the contrary, TOBAM’s Maximum Diversification® approach is designed to access the full risk premium evenly from all the independent risk factors available in the investment universe.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDWXNAPU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 4596.98

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.14%	1.39%	2.14%	2.81%	17.84%	14.98%	29.73%	359.70%
Volatility	-	10.61%	11.07%	10.84%	11.35%	13.85%	12.10%	13.04%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 718

Max. Market Cap : 356.573 Billion USD

Min. Market Cap : 2.123 Billion USD

Avg. Market Cap : 43.987 Billion USD

Median Market Cap : 20.65 Billion USD

Top Constituents

	Name
1.	NESTLE SA-REG
2.	ROCHE HOLDING AG-GENUSSCHEIN
3.	HELLOFRESH SE
4.	JARDINE MATHESON HLDGS LTD
5.	OCADO GROUP PLC
6.	KERRY GROUP PLC-A
7.	FORTESCUE METALS GROUP LTD
8.	NOVO NORDISK A/S-B
9.	EUROFINS SCIENTIFIC
10.	PANDORA A/S

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

19.95%

Consumer Staples

19.70%

Consumer Discretionary

17.37%

Industrials

9.61%

Financials

7.69%

Basic Materials

6.33%

Technology

5.33%

Telecommunications

5.08%

Real Estate

4.49%

Utilities

2.66%

Energy

1.79%

Breakdown by Country

Japan

28.76%

Great Britain

13.26%

Australia

7.72%

France

7.72%

Hong Kong

7.08%

Denmark

6.38%

Switzerland

5.53%

Germany

4.19%

Finland

2.58%

Spain

2.29%

Netherlands

2.09%

Italy

1.94%

Israel

1.86%

Ireland

1.71%

Belgium

1.68%

Sweden

1.61%

New Zealand

1.35%

Norway

0.98%

Singapore

0.83%

Austria

0.24%

Portugal

0.19%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDWXNACC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 1774.17

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.19%	3.35%	0.56%	1.96%	11.85%	17.74%	-	16.99%
Volatility	-	9.14%	9.71%	9.64%	9.56%	11.80%	-	11.73%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 718

Max. Market Cap : 445.128 Billion CAD

Min. Market Cap : 2.65 Billion CAD

Avg. Market Cap : 54.911 Billion CAD

Median Market Cap : 25.778 Billion CAD

Top Constituents

	Name
1.	NESTLE SA-REG
2.	ROCHE HOLDING AG-GENUSSCHEIN
3.	HELLOFRESH SE
4.	JARDINE MATHESON HLDGS LTD
5.	OCADO GROUP PLC
6.	KERRY GROUP PLC-A
7.	FORTESCUE METALS GROUP LTD
8.	NOVO NORDISK A/S-B
9.	EUROFINS SCIENTIFIC
10.	PANDORA A/S

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

19.95%

Consumer Staples

19.70%

Consumer Discretionary

17.37%

Industrials

9.61%

Financials

7.69%

Basic Materials

6.33%

Technology

5.33%

Telecommunications

5.08%

Real Estate

4.49%

Utilities

2.66%

Energy

1.79%

Breakdown by Country

Japan

28.76%

Great Britain

13.26%

Australia

7.72%

France

7.72%

Hong Kong

7.08%

Denmark

6.38%

Switzerland

5.53%

Germany

4.19%

Finland

2.58%

Spain

2.29%

Netherlands

2.09%

Italy

1.94%

Israel

1.86%

Ireland

1.71%

Belgium

1.68%

Sweden

1.61%

New Zealand

1.35%

Norway

0.98%

Singapore

0.83%

Austria

0.24%

Portugal

0.19%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

Source: TOBAM The information provided relates to past performance. Past performance is not a reliable indicator of future results and should not be the sole factor of consideration when selecting a product or strategy. Performance is shown on a Net Asset Value (NAV) basis, with gross income reinvested where applicable. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. TOBAM is a French investment adviser registered with the French Autorité des Marchés Financiers (AMF) and the U.S. Securities and Exchange Commission (SEC) under the U.S. Investment Advisers Act of 1940 and having its registered office located at 49-53 avenue des Champs Elysées, 75008 Paris, France. TOBAM’s Form ADV is available free of charge upon request. In Canada, TOBAM is acting under the assumed name “Tobam SAS Inc.” in Alberta and “TOBAM Société par Actions Simplifiée” in Québec. All rights in the TOBAM Maximum Diversification Index Series vest in TOBAM. The use of TOBAM Maximum Diversification Index Series to create financial products requires a license granted by TOBAM. The information shall not be used to verify or correct other data, to create indices, risk models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles without TOBAM’s prior consent. Past performance and simulations based on back tests are not indicative of future results nor are they reliable indicators of future performance, forecast or prediction. TOBAM does not represent, and indices should not be construed, as a guarantee, promise or assurance of a specific return. Back tested data may reflect the application of the index methodology with the benefit of hindsight, and the historic calculation of an index may change from time to time based on revisions of the underlying data used in the calculation of the index. TOBAM has continued and will continue its research efforts amending the investment process from time to time accordingly. TOBAM reserves the right of revision or change without notice, of the universe, data, models, strategy and opinions. Back tests performance is not actual performance and do not guaranty the results of an actual index. The TOBAM Maximum Diversification Index Series are calculated by Solactive or its agent. Solactive is the third-party calculation agent of the TOBAM Maximum Diversification Index Series and receives compensation in that capacity. The financial instrument is not sponsored, promoted, sold or supported in any other manner by Solactive AG nor does Solactive AG offer any express or implicit guarantee or assurance either with regard to the results of using the Index and/or Index trade mark or the Index Price at any time or in any other respect. The Index is calculated and published by Solactive AG. Solactive AG uses its best efforts to ensure that the Index is calculated correctly. Irrespective of its obligations towards the Issuer, Solactive AG has no obligation to point out errors in the Index to third parties including but not limited to investors and/or financial intermediaries of the financial instrument. Neither publication of the Index by Solactive AG nor the licensing of the Index or Index trade mark for the purpose of use in connection with the financial instrument constitutes a recommendation by Solactive AG to invest capital in said financial instrument nor does it in any way represent an assurance or opinion of Solactive AG with regard to any investment in this financial instrument. TOBAM does not make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as the results to be obtained from the use of the TOBAM Maximum Diversification Index Series or the suitability of the Index for any particular purpose. Nothing in this communication should be taken as constituting an offer to buy or sell or a recommendation of financial instrument or investment advice. Indices cannot be invested in directly. The information contained herein are provided “as is” and the user of the information assumes the entire risk of any use for itself or any third party. TOBAM and its affiliates do not accept any direct or indirect liability for any errors or omissions in the TOBAM Maximum Diversification Index Series, underlying data or information contained in this publication. All information is provided for information purposes only. The information contained herein, whether globally or partially, shall not be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of TOBAM or its affiliates. Copyrights: All text, graphics, interfaces, logos and artwork, including but not limited to design, structure, selection, coordination, expression, "look and feel" and arrangement contained in this presentation, are owned by TOBAM and are protected by copyright and various other intellectual property rights and competition laws. Trademarks: "TOBAM," "MaxDiv," "Maximum Diversification," "Diversification Ratio,” “Most Diversified Portfolio,” “Most Diversified Portfolios,” “MDP” and "Anti-Benchmark" are registered trademarks. This list is indicative and the absence of a product or service name from this list does not constitute a waiver of TOBAM trademark or other intellectual property rights concerning that name. Patents: The Anti-Benchmark, MaxDiv and Maximum Diversification strategies, methods and systems for selecting and managing a portfolio of securities, processes and products are patented or patent pending. Knowledge, processes and strategies: The Anti-Benchmark, MaxDiv and Maximum Diversification strategies, methods and systems for selecting and managing a portfolio of securities, processes and products are protected under competition, passing-off and misappropriation laws. Terms of use: TOBAM owns all rights to, title to and interest in TOBAM products and services, marketing and promotional materials, trademarks and patents, including without limitation all associated intellectual property rights. Any use of the intellectual property, knowledge, processes and strategies of TOBAM for any purpose and under any form (known and/or unknown) in direct or indirect relation with financial products including but not limited to certificates, indices, notes, bonds, OTC options, warrants, mutual funds, ETFs and insurance policies (i) is strictly prohibited without TOBAM’s prior written consent and (ii) requires a license.

CHARACTERISTICS

As of 2021-08-02

Ticker : MDAWDTU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 8050.24

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.33%	4.66%	7.60%	10.29%	24.07%	39.99%	72.76%	705.02%
Volatility	-	9.47%	10.50%	10.42%	11.45%	15.94%	13.33%	12.33%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 894

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 2.416 Billion USD

Avg. Market Cap : 138.166 Billion USD

Median Market Cap : 45.69 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	SNAP INC - A
3.	ZOOM VIDEO COMMUNICATIONS-A
4.	FACEBOOK INC-A
5.	AMAZON.COM INC
6.	ROKU INC
7.	APPLE INC
8.	NEWMONT CORP
9.	DOCUSIGN INC
10.	FRANCO-NEVADA CORP

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

21.21%

Consumer Discretionary

18.22%

Consumer Staples

13.87%

Technology

12.26%

Financials

7.80%

Industrials

7.66%

Basic Materials

6.04%

Telecommunications

4.62%

Real Estate

3.45%

Utilities

2.93%

Energy

1.93%

Breakdown by Country

USA

55.72%

Japan

12.05%

Great Britain

5.25%

Canada

4.88%

France

4.28%

Denmark

2.70%

Germany

2.31%

Switzerland

2.02%

Hong Kong

1.77%

Spain

1.39%

Australia

1.26%

Italy

0.88%

Netherlands

0.88%

Finland

0.88%

Sweden

0.78%

Norway

0.61%

Belgium

0.59%

Israel

0.58%

New Zealand

0.54%

Ireland

0.41%

Portugal

0.11%

Austria

0.09%

Singapore

0.02%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDAWDPU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 5569.41

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.33%	4.24%	6.64%	9.22%	22.14%	31.70%	56.65%	456.94%
Volatility	-	9.45%	10.51%	10.42%	11.45%	15.94%	13.33%	12.33%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 894

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 2.416 Billion USD

Avg. Market Cap : 138.166 Billion USD

Median Market Cap : 45.69 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	SNAP INC - A
3.	ZOOM VIDEO COMMUNICATIONS-A
4.	FACEBOOK INC-A
5.	AMAZON.COM INC
6.	ROKU INC
7.	APPLE INC
8.	NEWMONT CORP
9.	DOCUSIGN INC
10.	FRANCO-NEVADA CORP

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

21.21%

Consumer Discretionary

18.22%

Consumer Staples

13.87%

Technology

12.26%

Financials

7.80%

Industrials

7.66%

Basic Materials

6.04%

Telecommunications

4.62%

Real Estate

3.45%

Utilities

2.93%

Energy

1.93%

Breakdown by Country

USA

55.72%

Japan

12.05%

Great Britain

5.25%

Canada

4.88%

France

4.28%

Denmark

2.70%

Germany

2.31%

Switzerland

2.02%

Hong Kong

1.77%

Spain

1.39%

Australia

1.26%

Italy

0.88%

Netherlands

0.88%

Finland

0.88%

Sweden

0.78%

Norway

0.61%

Belgium

0.59%

Israel

0.58%

New Zealand

0.54%

Ireland

0.41%

Portugal

0.11%

Austria

0.09%

Singapore

0.02%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDAWDCC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 2096.82

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.38%	6.20%	4.63%	7.99%	15.46%	33.39%	-	31.58%
Volatility	-	9.24%	10.35%	10.24%	10.46%	14.83%	-	14.73%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 894

Max. Market Cap : 3,009.884 Billion CAD

Min. Market Cap : 3.016 Billion CAD

Avg. Market Cap : 172.48 Billion CAD

Median Market Cap : 57.037 Billion CAD

Top Constituents

	Name
1.	MODERNA INC
2.	SNAP INC - A
3.	ZOOM VIDEO COMMUNICATIONS-A
4.	FACEBOOK INC-A
5.	AMAZON.COM INC
6.	ROKU INC
7.	APPLE INC
8.	NEWMONT CORP
9.	DOCUSIGN INC
10.	FRANCO-NEVADA CORP

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

21.21%

Consumer Discretionary

18.22%

Consumer Staples

13.87%

Technology

12.26%

Financials

7.80%

Industrials

7.66%

Basic Materials

6.04%

Telecommunications

4.62%

Real Estate

3.45%

Utilities

2.93%

Energy

1.93%

Breakdown by Country

USA

55.72%

Japan

12.05%

Great Britain

5.25%

Canada

4.88%

France

4.28%

Denmark

2.70%

Germany

2.31%

Switzerland

2.02%

Hong Kong

1.77%

Spain

1.39%

Australia

1.26%

Italy

0.88%

Netherlands

0.88%

Finland

0.88%

Sweden

0.78%

Norway

0.61%

Belgium

0.59%

Israel

0.58%

New Zealand

0.54%

Ireland

0.41%

Portugal

0.11%

Austria

0.09%

Singapore

0.02%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDAWTU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2017-03-17

Base Currency : USD

Calculation Frequency : Daily

Level : 1647.98

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.51%	3.53%	4.43%	7.99%	22.00%	35.33%	67.00%	613.23%
Volatility	-	8.43%	10.13%	10.23%	10.93%	15.34%	12.93%	12.78%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 1137

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 449.41 Million USD

Avg. Market Cap : 180.655 Billion USD

Median Market Cap : 42.203 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	MICROSOFT CORP
3.	AMAZON.COM INC
4.	APPLE INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	ROKU INC
8.	NEWMONT CORP
9.	FRANCO-NEVADA CORP
10.	KROGER CO

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

19.61%

Consumer Discretionary

18.12%

Technology

14.54%

Consumer Staples

12.78%

Financials

8.54%

Industrials

7.99%

Basic Materials

6.27%

Telecommunications

4.76%

Utilities

3.09%

Real Estate

2.74%

Energy

1.55%

Breakdown by Country

USA

45.71%

Japan

11.58%

China

7.52%

India

4.91%

Great Britain

3.94%

Canada

3.37%

Taiwan, Province of China

2.63%

France

2.59%

Korea, Republic of

2.48%

Germany

1.78%

Switzerland

1.77%

Denmark

1.48%

Australia

1.33%

Hong Kong

1.10%

Spain

0.99%

Italy

0.72%

Finland

0.63%

Netherlands

0.60%

New Zealand

0.47%

Norway

0.45%

Israel

0.45%

South Africa

0.41%

Belgium

0.41%

Indonesia

0.34%

Brazil

0.34%

Sweden

0.33%

Philippines

0.32%

Malaysia

0.27%

Thailand

0.20%

Turkey

0.19%

Chile

0.19%

Ireland

0.18%

Mexico

0.14%

Poland

0.07%

Russian Federation

0.04%

Austria

0.03%

Greece

0.02%

Singapore

0.01%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDAWPU Index

Calculating Agent : Solactive

Base Date : 2017-03-17

Launch Date : 2017-03-17

Base Currency : USD

Calculation Frequency : Daily

Level : 1516.12

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.50%	3.04%	3.47%	6.93%	20.13%	27.75%	-	51.61%
Volatility	-	8.42%	10.14%	10.24%	10.93%	15.34%	-	13.46%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 1137

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 449.41 Million USD

Avg. Market Cap : 180.655 Billion USD

Median Market Cap : 42.203 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	MICROSOFT CORP
3.	AMAZON.COM INC
4.	APPLE INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	ROKU INC
8.	NEWMONT CORP
9.	FRANCO-NEVADA CORP
10.	KROGER CO

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

19.61%

Consumer Discretionary

18.12%

Technology

14.54%

Consumer Staples

12.78%

Financials

8.54%

Industrials

7.99%

Basic Materials

6.27%

Telecommunications

4.76%

Utilities

3.09%

Real Estate

2.74%

Energy

1.55%

Breakdown by Country

USA

45.71%

Japan

11.58%

China

7.52%

India

4.91%

Great Britain

3.94%

Canada

3.37%

Taiwan, Province of China

2.63%

France

2.59%

Korea, Republic of

2.48%

Germany

1.78%

Switzerland

1.77%

Denmark

1.48%

Australia

1.33%

Hong Kong

1.10%

Spain

0.99%

Italy

0.72%

Finland

0.63%

Netherlands

0.60%

New Zealand

0.47%

Norway

0.45%

Israel

0.45%

South Africa

0.41%

Belgium

0.41%

Indonesia

0.34%

Brazil

0.34%

Sweden

0.33%

Philippines

0.32%

Malaysia

0.27%

Thailand

0.20%

Turkey

0.19%

Chile

0.19%

Ireland

0.18%

Mexico

0.14%

Poland

0.07%

Russian Federation

0.04%

Austria

0.03%

Greece

0.02%

Singapore

0.01%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-07-30

Ticker : MDCATC Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2015-09-18

Base Currency : CAD

Calculation Frequency : Daily

Level : 6253.16

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.44%	6.08%	14.28%	15.82%	19.89%	40.05%	56.11%	525.32%
Volatility	9.96%	10.80%	12.52%	12.90%	14.33%	19.25%	15.66%	14.56%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 100

Max. Market Cap : 233.682 Billion CAD

Min. Market Cap : 2.129 Billion CAD

Avg. Market Cap : 33.726 Billion CAD

Median Market Cap : 21.495 Billion CAD

Top Constituents

	Name
1.	SHOPIFY INC - CLASS A
2.	TOURMALINE OIL CORP
3.	FRANCO-NEVADA CORP
4.	EMPIRE CO LTD 'A'
5.	ALAMOS GOLD INC
6.	FAIRFAX FINANCIAL HLDGS LTD
7.	WHEATON PRECIOUS METALS CORP
8.	CAMECO CORP
9.	BANK OF MONTREAL
10.	BALLARD POWER SYSTEMS INC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Basic Materials

20.07%

Financials

14.95%

Technology

12.56%

Consumer Discretionary

11.44%

Energy

10.09%

Consumer Staples

8.35%

Industrials

8.35%

Telecommunications

6.05%

Utilities

4.82%

Real Estate

2.99%

Health Care

0.34%

Breakdown by Country

Canada

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-07-30

Ticker : MDCAPC Index

Calculating Agent : Solactive

Base Date : 2005-12-30

Launch Date : 2015-09-18

Base Currency : CAD

Calculation Frequency : Daily

Level : 4041.71

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.36%	5.68%	13.40%	14.75%	17.83%	30.92%	39.40%	304.17%
Volatility	9.99%	10.81%	12.52%	12.89%	14.34%	19.50%	15.88%	14.58%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 100

Max. Market Cap : 233.682 Billion CAD

Min. Market Cap : 2.129 Billion CAD

Avg. Market Cap : 33.726 Billion CAD

Median Market Cap : 21.495 Billion CAD

Top Constituents

	Name
1.	SHOPIFY INC - CLASS A
2.	TOURMALINE OIL CORP
3.	FRANCO-NEVADA CORP
4.	EMPIRE CO LTD 'A'
5.	ALAMOS GOLD INC
6.	FAIRFAX FINANCIAL HLDGS LTD
7.	WHEATON PRECIOUS METALS CORP
8.	CAMECO CORP
9.	BANK OF MONTREAL
10.	BALLARD POWER SYSTEMS INC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Basic Materials

20.07%

Financials

14.95%

Technology

12.56%

Consumer Discretionary

11.44%

Energy

10.09%

Consumer Staples

8.35%

Industrials

8.35%

Telecommunications

6.05%

Utilities

4.82%

Real Estate

2.99%

Health Care

0.34%

Breakdown by Country

Canada

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-07-30

Ticker : MDCACC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 1492.32

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.44%	6.08%	14.28%	15.83%	19.89%	40.05%	-	36.39%
Volatility	9.96%	10.80%	12.52%	12.90%	14.33%	19.25%	-	19.13%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 100

Max. Market Cap : 233.682 Billion CAD

Min. Market Cap : 2.129 Billion CAD

Avg. Market Cap : 33.726 Billion CAD

Median Market Cap : 21.495 Billion CAD

Top Constituents

	Name
1.	SHOPIFY INC - CLASS A
2.	TOURMALINE OIL CORP
3.	FRANCO-NEVADA CORP
4.	EMPIRE CO LTD 'A'
5.	ALAMOS GOLD INC
6.	FAIRFAX FINANCIAL HLDGS LTD
7.	WHEATON PRECIOUS METALS CORP
8.	CAMECO CORP
9.	BANK OF MONTREAL
10.	BALLARD POWER SYSTEMS INC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Basic Materials

20.07%

Financials

14.95%

Technology

12.56%

Consumer Discretionary

11.44%

Energy

10.09%

Consumer Staples

8.35%

Industrials

8.35%

Telecommunications

6.05%

Utilities

4.82%

Real Estate

2.99%

Health Care

0.34%

Breakdown by Country

Canada

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDPXJDTU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 9734.91

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.06%	0.36%	7.05%	8.04%	25.12%	27.34%	50.91%	873.49%
Volatility	-	11.28%	11.89%	12.17%	12.49%	17.08%	14.59%	15.45%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 132

Max. Market Cap : 144.919 Billion USD

Min. Market Cap : 2.497 Billion USD

Avg. Market Cap : 22.877 Billion USD

Median Market Cap : 17.054 Billion USD

Top Constituents

	Name
1.	IDP EDUCATION LTD
2.	PRADA S.P.A.
3.	SITC INTERNATIONAL HOLDINGS
4.	SEA LTD-ADR
5.	METCASH LTD
6.	FISHER & PAYKEL HEALTHCARE C
7.	HONG KONG EXCHANGES & CLEAR
8.	WISETECH GLOBAL LTD
9.	HONG KONG & CHINA GAS
10.	ASM PACIFIC TECHNOLOGY

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Real Estate

15.97%

Consumer Discretionary

14.28%

Industrials

13.81%

Financials

10.80%

Consumer Staples

10.38%

Utilities

7.99%

Basic Materials

7.99%

Telecommunications

6.74%

Technology

5.58%

Health Care

5.45%

Energy

1.02%

Breakdown by Country

Hong Kong

40.51%

Australia

37.67%

Singapore

13.32%

New Zealand

8.51%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDPXJDPU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 5487.32

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.06%	-0.38%	5.26%	6.22%	21.55%	15.67%	28.59%	448.73%
Volatility	-	11.32%	11.89%	12.17%	12.50%	17.11%	14.61%	15.45%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 132

Max. Market Cap : 144.919 Billion USD

Min. Market Cap : 2.497 Billion USD

Avg. Market Cap : 22.877 Billion USD

Median Market Cap : 17.054 Billion USD

Top Constituents

	Name
1.	IDP EDUCATION LTD
2.	PRADA S.P.A.
3.	SITC INTERNATIONAL HOLDINGS
4.	SEA LTD-ADR
5.	METCASH LTD
6.	FISHER & PAYKEL HEALTHCARE C
7.	HONG KONG EXCHANGES & CLEAR
8.	WISETECH GLOBAL LTD
9.	HONG KONG & CHINA GAS
10.	ASM PACIFIC TECHNOLOGY

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Real Estate

15.97%

Consumer Discretionary

14.28%

Industrials

13.81%

Financials

10.80%

Consumer Staples

10.38%

Utilities

7.99%

Basic Materials

7.99%

Telecommunications

6.74%

Technology

5.58%

Health Care

5.45%

Energy

1.02%

Breakdown by Country

Hong Kong

40.51%

Australia

37.67%

Singapore

13.32%

New Zealand

8.51%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEUDTE Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : EUR

Calculation Frequency : Daily

Level : 6006.93

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.48%	7.11%	12.20%	14.81%	26.38%	27.91%	52.79%	500.69%
Volatility	-	10.98%	10.69%	10.43%	11.68%	16.10%	13.82%	14.08%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 375

Max. Market Cap : 300.702 Billion EUR

Min. Market Cap : 2.628 Billion EUR

Avg. Market Cap : 39.499 Billion EUR

Median Market Cap : 22.479 Billion EUR

Top Constituents

	Name
1.	KESKO OYJ-B SHS
2.	QIAGEN N.V.
3.	COLOPLAST-B
4.	ROCHE HOLDING AG-GENUSSCHEIN
5.	NESTLE SA-REG
6.	CHR HANSEN HOLDING A/S
7.	NOVARTIS AG-REG
8.	NOVOZYMES A/S-B SHARES
9.	PANDORA A/S
10.	OCADO GROUP PLC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

26.91%

Consumer Staples

21.80%

Consumer Discretionary

14.87%

Industrials

8.66%

Financials

7.75%

Technology

5.17%

Telecommunications

4.50%

Basic Materials

3.45%

Real Estate

2.89%

Utilities

2.16%

Energy

1.84%

Breakdown by Country

Great Britain

25.14%

France

13.35%

Denmark

13.07%

Switzerland

10.33%

Germany

8.57%

Finland

5.39%

Sweden

4.99%

Spain

4.89%

Netherlands

4.32%

Italy

2.58%

Norway

2.38%

Belgium

1.89%

Ireland

1.87%

Portugal

0.86%

Austria

0.37%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEUDPE Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : EUR

Calculation Frequency : Daily

Level : 3698.84

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.48%	6.42%	10.66%	13.19%	23.99%	18.72%	34.91%	269.88%
Volatility	-	10.94%	10.66%	10.40%	11.68%	16.11%	13.83%	14.07%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 375

Max. Market Cap : 300.702 Billion EUR

Min. Market Cap : 2.628 Billion EUR

Avg. Market Cap : 39.499 Billion EUR

Median Market Cap : 22.479 Billion EUR

Top Constituents

	Name
1.	KESKO OYJ-B SHS
2.	QIAGEN N.V.
3.	COLOPLAST-B
4.	ROCHE HOLDING AG-GENUSSCHEIN
5.	NESTLE SA-REG
6.	CHR HANSEN HOLDING A/S
7.	NOVARTIS AG-REG
8.	NOVOZYMES A/S-B SHARES
9.	PANDORA A/S
10.	OCADO GROUP PLC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

26.91%

Consumer Staples

21.80%

Consumer Discretionary

14.87%

Industrials

8.66%

Financials

7.75%

Technology

5.17%

Telecommunications

4.50%

Basic Materials

3.45%

Real Estate

2.89%

Utilities

2.16%

Energy

1.84%

Breakdown by Country

Great Britain

25.14%

France

13.35%

Denmark

13.07%

Switzerland

10.33%

Germany

8.57%

Finland

5.39%

Sweden

4.99%

Spain

4.89%

Netherlands

4.32%

Italy

2.58%

Norway

2.38%

Belgium

1.89%

Ireland

1.87%

Portugal

0.86%

Austria

0.37%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEUDCC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 2030.54

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.73%	7.26%	7.72%	9.13%	18.17%	24.65%	-	23.38%
Volatility	-	10.33%	10.42%	10.14%	11.17%	15.03%	-	14.92%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 375

Max. Market Cap : 445.128 Billion CAD

Min. Market Cap : 3.891 Billion CAD

Avg. Market Cap : 58.47 Billion CAD

Median Market Cap : 33.275 Billion CAD

Top Constituents

	Name
1.	KESKO OYJ-B SHS
2.	QIAGEN N.V.
3.	COLOPLAST-B
4.	ROCHE HOLDING AG-GENUSSCHEIN
5.	NESTLE SA-REG
6.	CHR HANSEN HOLDING A/S
7.	NOVARTIS AG-REG
8.	NOVOZYMES A/S-B SHARES
9.	PANDORA A/S
10.	OCADO GROUP PLC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

26.91%

Consumer Staples

21.80%

Consumer Discretionary

14.87%

Industrials

8.66%

Financials

7.75%

Technology

5.17%

Telecommunications

4.50%

Basic Materials

3.45%

Real Estate

2.89%

Utilities

2.16%

Energy

1.84%

Breakdown by Country

Great Britain

25.14%

France

13.35%

Denmark

13.07%

Switzerland

10.33%

Germany

8.57%

Finland

5.39%

Sweden

4.99%

Spain

4.89%

Netherlands

4.32%

Italy

2.58%

Norway

2.38%

Belgium

1.89%

Ireland

1.87%

Portugal

0.86%

Austria

0.37%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEMUDPE Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : EUR

Calculation Frequency : Daily

Level : 3445.44

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.73%	6.56%	9.41%	12.07%	22.86%	15.73%	41.27%	244.54%
Volatility	-	10.99%	10.33%	10.27%	11.84%	17.02%	14.61%	15.08%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 211

Max. Market Cap : 268.059 Billion EUR

Min. Market Cap : 2.723 Billion EUR

Avg. Market Cap : 32.21 Billion EUR

Median Market Cap : 23.987 Billion EUR

Top Constituents

	Name
1.	KESKO OYJ-B SHS
2.	ADYEN NV
3.	EUROFINS SCIENTIFIC
4.	QIAGEN N.V.
5.	KINGSPAN GROUP PLC
6.	DELIVERY HERO AG
7.	ASML HOLDING NV
8.	ELISA OYJ
9.	DIASORIN SPA
10.	BIOMERIEUX

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

22.01%

Consumer Staples

15.73%

Consumer Discretionary

14.55%

Industrials

11.31%

Financials

7.88%

Telecommunications

7.35%

Technology

6.66%

Real Estate

5.18%

Utilities

3.49%

Basic Materials

3.33%

Energy

2.50%

Breakdown by Country

France

27.62%

Germany

20.65%

Netherlands

12.77%

Spain

10.22%

Finland

10.06%

Belgium

6.31%

Italy

5.78%

Ireland

3.79%

Portugal

1.98%

Austria

0.82%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEMUDTE Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : EUR

Calculation Frequency : Daily

Level : 5514.89

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.73%	7.55%	11.09%	13.85%	25.37%	24.24%	59.43%	451.49%
Volatility	-	11.03%	10.36%	10.30%	11.85%	17.01%	14.61%	15.09%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 211

Max. Market Cap : 268.059 Billion EUR

Min. Market Cap : 2.723 Billion EUR

Avg. Market Cap : 32.21 Billion EUR

Median Market Cap : 23.987 Billion EUR

Top Constituents

	Name
1.	KESKO OYJ-B SHS
2.	ADYEN NV
3.	EUROFINS SCIENTIFIC
4.	QIAGEN N.V.
5.	KINGSPAN GROUP PLC
6.	DELIVERY HERO AG
7.	ASML HOLDING NV
8.	ELISA OYJ
9.	DIASORIN SPA
10.	BIOMERIEUX

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

22.01%

Consumer Staples

15.73%

Consumer Discretionary

14.55%

Industrials

11.31%

Financials

7.88%

Telecommunications

7.35%

Technology

6.66%

Real Estate

5.18%

Utilities

3.49%

Basic Materials

3.33%

Energy

2.50%

Breakdown by Country

France

27.62%

Germany

20.65%

Netherlands

12.77%

Spain

10.22%

Finland

10.06%

Belgium

6.31%

Italy

5.78%

Ireland

3.79%

Portugal

1.98%

Austria

0.82%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEMTU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2015-12-18

Base Currency : USD

Calculation Frequency : Daily

Level : 1771.46

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.19%	0.68%	-0.92%	4.43%	24.49%	28.57%	55.57%	954.19%
Volatility	-	12.62%	14.51%	14.95%	14.39%	17.38%	14.88%	15.87%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 776

Max. Market Cap : 591.72 Billion USD

Min. Market Cap : 449.41 Million USD

Avg. Market Cap : 32.425 Billion USD

Median Market Cap : 14.675 Billion USD

Top Constituents

	Name
1.	LI NING CO LTD
2.	TAIWAN SEMICONDUCTOR MANUFAC
3.	SUN PHARMACEUTICAL INDUSTRIES LTD
4.	NIO INC - ADR
5.	SILERGY CORP
6.	ANGLOGOLD ASHANTI LTD
7.	CELLTRION HEALTHCARE CO LTD
8.	INFOSYS TECHNOLOGIES LTD
9.	RELIANCE INDUSTRIES LTD
10.	GOLD FIELDS LTD

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Technology

15.79%

Health Care

15.78%

Consumer Discretionary

15.70%

Financials

13.39%

Industrials

9.42%

Consumer Staples

8.33%

Basic Materials

6.91%

Telecommunications

6.22%

Utilities

3.37%

Energy

3.17%

Real Estate

1.92%

Breakdown by Country

China

27.37%

India

22.46%

Taiwan, Province of China

17.10%

Korea, Republic of

9.53%

Thailand

3.79%

Brazil

3.71%

South Africa

3.46%

Mexico

2.38%

Malaysia

2.33%

Turkey

1.84%

Indonesia

1.63%

Poland

1.47%

Philippines

1.18%

Russian Federation

0.94%

Chile

0.44%

Greece

0.20%

Hungary

0.13%

Colombia

0.03%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEMPU Index

Calculating Agent : Solactive

Base Date : 2015-12-18

Launch Date : 2015-12-18

Base Currency : USD

Calculation Frequency : Daily

Level : 1575.07

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.17%	-0.15%	-2.14%	3.11%	22.28%	21.35%	41.03%	57.51%
Volatility	-	12.63%	14.53%	14.97%	14.39%	17.38%	14.87%	14.83%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 776

Max. Market Cap : 591.72 Billion USD

Min. Market Cap : 449.41 Million USD

Avg. Market Cap : 32.425 Billion USD

Median Market Cap : 14.675 Billion USD

Top Constituents

	Name
1.	LI NING CO LTD
2.	TAIWAN SEMICONDUCTOR MANUFAC
3.	SUN PHARMACEUTICAL INDUSTRIES LTD
4.	NIO INC - ADR
5.	SILERGY CORP
6.	ANGLOGOLD ASHANTI LTD
7.	CELLTRION HEALTHCARE CO LTD
8.	INFOSYS TECHNOLOGIES LTD
9.	RELIANCE INDUSTRIES LTD
10.	GOLD FIELDS LTD

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Technology

15.79%

Health Care

15.78%

Consumer Discretionary

15.70%

Financials

13.39%

Industrials

9.42%

Consumer Staples

8.33%

Basic Materials

6.91%

Telecommunications

6.22%

Utilities

3.37%

Energy

3.17%

Real Estate

1.92%

Breakdown by Country

China

27.37%

India

22.46%

Taiwan, Province of China

17.10%

Korea, Republic of

9.53%

Thailand

3.79%

Brazil

3.71%

South Africa

3.46%

Mexico

2.38%

Malaysia

2.33%

Turkey

1.84%

Indonesia

1.63%

Poland

1.47%

Philippines

1.18%

Russian Federation

0.94%

Chile

0.44%

Greece

0.20%

Hungary

0.13%

Colombia

0.03%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDEMCC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 1860.79

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.23%	2.12%	-3.69%	2.28%	15.92%	22.83%	-	21.35%
Volatility	-	12.68%	14.09%	14.56%	13.38%	15.76%	-	15.66%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 776

Max. Market Cap : 738.674 Billion CAD

Min. Market Cap : 561.021 Million CAD

Avg. Market Cap : 40.478 Billion CAD

Median Market Cap : 18.319 Billion CAD

Top Constituents

	Name
1.	LI NING CO LTD
2.	TAIWAN SEMICONDUCTOR MANUFAC
3.	SUN PHARMACEUTICAL INDUSTRIES LTD
4.	NIO INC - ADR
5.	SILERGY CORP
6.	ANGLOGOLD ASHANTI LTD
7.	CELLTRION HEALTHCARE CO LTD
8.	INFOSYS TECHNOLOGIES LTD
9.	RELIANCE INDUSTRIES LTD
10.	GOLD FIELDS LTD

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Technology

15.79%

Health Care

15.78%

Consumer Discretionary

15.70%

Financials

13.39%

Industrials

9.42%

Consumer Staples

8.33%

Basic Materials

6.91%

Telecommunications

6.22%

Utilities

3.37%

Energy

3.17%

Real Estate

1.92%

Breakdown by Country

China

27.37%

India

22.46%

Taiwan, Province of China

17.10%

Korea, Republic of

9.53%

Thailand

3.79%

Brazil

3.71%

South Africa

3.46%

Mexico

2.38%

Malaysia

2.33%

Turkey

1.84%

Indonesia

1.63%

Poland

1.47%

Philippines

1.18%

Russian Federation

0.94%

Chile

0.44%

Greece

0.20%

Hungary

0.13%

Colombia

0.03%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDJNPJ Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : JPY

Calculation Frequency : Daily

Level : 3335.31

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.41%	0.80%	2.48%	4.23%	21.58%	7.38%	52.60%	233.53%
Volatility	-	13.96%	14.21%	13.73%	13.59%	16.73%	15.20%	17.19%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 250

Max. Market Cap : 14,344.544 Billion JPY

Min. Market Cap : 240.707 Billion JPY

Avg. Market Cap : 2,289.64 Billion JPY

Median Market Cap : 1,488.503 Billion JPY

Top Constituents

	Name
1.	BAYCURRENT CONSULTING INC
2.	SG HOLDINGS CO LTD
3.	NIPPON PROLOGIS REIT INC
4.	EISAI CO LTD
5.	SQUARE ENIX CO LTD
6.	LION CORP
7.	DAIWA HOUSE RESIDENTIAL INV
8.	WELCIA HOLDINGS CO LTD
9.	SONY CORP
10.	COSMOS PHARMACEUTICAL CORP

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Consumer Discretionary

26.50%

Consumer Staples

15.05%

Technology

13.79%

Health Care

11.22%

Real Estate

9.09%

Industrials

8.43%

Telecommunications

5.02%

Financials

4.51%

Utilities

2.87%

Basic Materials

2.68%

Energy

0.84%

Breakdown by Country

Japan

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDJNTJ Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : JPY

Calculation Frequency : Daily

Level : 4528.15

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	1.41%	0.95%	3.30%	5.07%	23.39%	13.20%	65.79%	352.81%
Volatility	-	13.95%	14.17%	13.71%	13.58%	16.72%	15.20%	17.19%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 250

Max. Market Cap : 14,344.544 Billion JPY

Min. Market Cap : 240.707 Billion JPY

Avg. Market Cap : 2,289.64 Billion JPY

Median Market Cap : 1,488.503 Billion JPY

Top Constituents

	Name
1.	BAYCURRENT CONSULTING INC
2.	SG HOLDINGS CO LTD
3.	NIPPON PROLOGIS REIT INC
4.	EISAI CO LTD
5.	SQUARE ENIX CO LTD
6.	LION CORP
7.	DAIWA HOUSE RESIDENTIAL INV
8.	WELCIA HOLDINGS CO LTD
9.	SONY CORP
10.	COSMOS PHARMACEUTICAL CORP

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Consumer Discretionary

26.50%

Consumer Staples

15.05%

Technology

13.79%

Health Care

11.22%

Real Estate

9.09%

Industrials

8.43%

Telecommunications

5.02%

Financials

4.51%

Utilities

2.87%

Basic Materials

2.68%

Energy

0.84%

Breakdown by Country

Japan

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDNATU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2013-05-13

Base Currency : USD

Calculation Frequency : Daily

Level : 8520.03

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	-0.13%	4.89%	8.36%	12.31%	26.08%	51.21%	90.32%	896.11%
Volatility	-	10.85%	13.18%	13.35%	14.39%	20.18%	16.79%	15.78%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 499

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 7.07 Billion USD

Avg. Market Cap : 130.544 Billion USD

Median Market Cap : 59.265 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	DOCUSIGN INC
3.	SNAP INC - A
4.	BIOGEN IDEC INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	ROKU INC
8.	PELOTON INTERACTIVE INC-A
9.	FRANCO-NEVADA CORP
10.	AMAZON.COM INC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

22.18%

Consumer Discretionary

18.44%

Technology

15.37%

Consumer Staples

11.97%

Financials

7.21%

Basic Materials

6.04%

Industrials

5.04%

Real Estate

4.69%

Telecommunications

3.87%

Utilities

3.06%

Energy

2.14%

Breakdown by Country

USA

90.98%

Canada

9.02%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDNAPU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2013-05-13

Base Currency : USD

Calculation Frequency : Daily

Level : 5945.24

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	-0.13%	4.52%	7.61%	11.40%	24.26%	43.06%	73.77%	598.36%
Volatility	-	10.85%	13.18%	13.35%	14.38%	20.17%	16.78%	15.78%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 499

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 7.07 Billion USD

Avg. Market Cap : 130.544 Billion USD

Median Market Cap : 59.265 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	DOCUSIGN INC
3.	SNAP INC - A
4.	BIOGEN IDEC INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	ROKU INC
8.	PELOTON INTERACTIVE INC-A
9.	FRANCO-NEVADA CORP
10.	AMAZON.COM INC

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

22.18%

Consumer Discretionary

18.44%

Technology

15.37%

Consumer Staples

11.97%

Financials

7.21%

Basic Materials

6.04%

Industrials

5.04%

Real Estate

4.69%

Telecommunications

3.87%

Utilities

3.06%

Energy

2.14%

Breakdown by Country

USA

90.98%

Canada

9.02%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDUKPG Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : GBP

Calculation Frequency : Daily

Level : 3225.76

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.54%	3.77%	8.26%	9.53%	19.82%	0.00%	1.58%	222.58%
Volatility	-	10.79%	10.56%	11.03%	12.65%	17.19%	14.72%	15.57%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 91

Max. Market Cap : 128.081 Billion GBP

Min. Market Cap : 2.481 Billion GBP

Avg. Market Cap : 23.862 Billion GBP

Median Market Cap : 15.915 Billion GBP

Top Constituents

	Name
1.	MORRISON SUPERMARKETS
2.	AVAST PLC
3.	DECHRA PHARMACEUTICALS PLC
4.	HIKMA PHARMACEUTICALS PLC
5.	SAINSBURY (J) PLC
6.	KINGFISHER PLC
7.	GLAXOSMITHKLINE PLC
8.	PEARSON PLC
9.	ASTRAZENECA PLC
10.	HISCOX LTD

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Consumer Discretionary

23.22%

Consumer Staples

20.04%

Health Care

16.70%

Financials

14.26%

Industrials

6.69%

Technology

6.46%

Basic Materials

4.53%

Utilities

4.04%

Telecommunications

2.45%

Real Estate

1.20%

Energy

0.41%

Breakdown by Country

Great Britain

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDUKTG Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : GBP

Calculation Frequency : Daily

Level : 5948.35

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	0.54%	4.72%	9.80%	11.16%	22.74%	9.29%	17.90%	494.84%
Volatility	-	10.88%	10.60%	11.06%	12.62%	17.15%	14.70%	15.56%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 91

Max. Market Cap : 128.081 Billion GBP

Min. Market Cap : 2.481 Billion GBP

Avg. Market Cap : 23.862 Billion GBP

Median Market Cap : 15.915 Billion GBP

Top Constituents

	Name
1.	MORRISON SUPERMARKETS
2.	AVAST PLC
3.	DECHRA PHARMACEUTICALS PLC
4.	HIKMA PHARMACEUTICALS PLC
5.	SAINSBURY (J) PLC
6.	KINGFISHER PLC
7.	GLAXOSMITHKLINE PLC
8.	PEARSON PLC
9.	ASTRAZENECA PLC
10.	HISCOX LTD

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Consumer Discretionary

23.22%

Consumer Staples

20.04%

Health Care

16.70%

Financials

14.26%

Industrials

6.69%

Technology

6.46%

Basic Materials

4.53%

Utilities

4.04%

Telecommunications

2.45%

Real Estate

1.20%

Energy

0.41%

Breakdown by Country

Great Britain

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDUSATU Index

Calculating Agent : Solactive

Base Date : 2000-06-05

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 10796.99

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	-0.12%	4.58%	7.35%	11.71%	28.86%	52.96%	99.50%	821.07%
Volatility	-	11.19%	13.83%	14.05%	14.73%	21.08%	17.54%	16.68%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 464

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 7.491 Billion USD

Avg. Market Cap : 138.165 Billion USD

Median Market Cap : 61.415 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	DOCUSIGN INC
3.	SNAP INC - A
4.	BIOGEN IDEC INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	PELOTON INTERACTIVE INC-A
8.	ROKU INC
9.	AMAZON.COM INC
10.	KROGER CO

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

24.02%

Consumer Discretionary

19.69%

Technology

16.36%

Consumer Staples

12.51%

Financials

6.09%

Industrials

5.16%

Real Estate

5.08%

Telecommunications

3.82%

Utilities

2.97%

Energy

2.26%

Basic Materials

2.04%

Breakdown by Country

USA

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDUSAPU Index

Calculating Agent : Solactive

Base Date : 2002-10-31

Launch Date : 2011-11-17

Base Currency : USD

Calculation Frequency : Daily

Level : 7917.59

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	-0.13%	4.22%	6.62%	10.85%	27.05%	44.71%	81.87%	691.76%
Volatility	-	11.19%	13.83%	14.05%	14.72%	21.07%	17.54%	16.66%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 464

Max. Market Cap : 2,411.09 Billion USD

Min. Market Cap : 7.491 Billion USD

Avg. Market Cap : 138.165 Billion USD

Median Market Cap : 61.415 Billion USD

Top Constituents

	Name
1.	MODERNA INC
2.	DOCUSIGN INC
3.	SNAP INC - A
4.	BIOGEN IDEC INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	PELOTON INTERACTIVE INC-A
8.	ROKU INC
9.	AMAZON.COM INC
10.	KROGER CO

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

24.02%

Consumer Discretionary

19.69%

Technology

16.36%

Consumer Staples

12.51%

Financials

6.09%

Industrials

5.16%

Real Estate

5.08%

Telecommunications

3.82%

Utilities

2.97%

Energy

2.26%

Basic Materials

2.04%

Breakdown by Country

USA

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

Composition:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

CHARACTERISTICS

As of 2021-08-02

Ticker : MDUSACC Index

Calculating Agent : Solactive

Base Date : 2018-07-12

Launch Date : 2018-07-12

Base Currency : CAD

Calculation Frequency : Daily

Level : 2323.68

Review Dates : Quarterly in March, June, September, December

Return & Volatility

	MTD	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	Since base date
Return	-0.08%	6.12%	4.39%	9.39%	19.90%	45.60%	-	43.22%
Volatility	-	12.08%	14.73%	14.82%	14.81%	20.68%	-	20.57%

*The volatility in the table is annualized volatility, which is calculated with the standard deviation of index’s historical daily returns, multiplying by the square root of trading days in a year.

Chart

Constituents

As of 2021-07-30

Number of Constituents : 464

Max. Market Cap : 3,009.884 Billion CAD

Min. Market Cap : 9.351 Billion CAD

Avg. Market Cap : 172.479 Billion CAD

Median Market Cap : 76.667 Billion CAD

Top Constituents

	Name
1.	MODERNA INC
2.	DOCUSIGN INC
3.	SNAP INC - A
4.	BIOGEN IDEC INC
5.	ZOOM VIDEO COMMUNICATIONS-A
6.	FACEBOOK INC-A
7.	PELOTON INTERACTIVE INC-A
8.	ROKU INC
9.	AMAZON.COM INC
10.	KROGER CO

Allocations

As of 2021-07-30

Breakdown by Economic Sector

Health Care

24.02%

Consumer Discretionary

19.69%

Technology

16.36%

Consumer Staples

12.51%

Financials

6.09%

Industrials

5.16%

Real Estate

5.08%

Telecommunications

3.82%

Utilities

2.97%

Energy

2.26%

Basic Materials

2.04%

Breakdown by Country

USA

100.00%

INVESTMENT PHILOSOPHY

TOBAM’s core investment philosophy is to maximize diversification in order to capture the full risk premium of an asset class.

The Maximum Diversification® process is designed to create portfolios which lie closer to the ex-post efficient frontier than the market cap portfolio over a market cycle.

DOWNLOADS

Ground Rules:

Factsheet:

TOBAM Benchmark Statement:

TOBAM Compliance Statement:

MAXDIV® Range of Indices

MAXDIV^® Range of Indices