MV Index Solutions (MVIS)
March 2020
Corporate Presentation
MVIS 3
Index Concept 5
Index Statistics 11
MVIS Indices Underlying ETPs 17
Contacts 18
Important Disclosures 19
Contents
2
MVIS has innovated the index market in many ways since its launch in 2011.
Moving beyond common index categories, we have introduced blue chip indices with benchmark
characteristics that are specifically designed to underlie exchange-traded products (ETPs).
The indices are built on three key factors: pure-play exposure, component liquidity, and index diversification.
In combination, those factors ensure an intelligent index design, tailor-made for ETPs.
MVIS only develops indices that capture potential investment themes. Our index selection provides
exposure to hard assets, international equity with a strong focus on emerging markets, digital assets, and
fixed income..
MVIS − Specialist for High Quality Indices
3
Data as of 31 March 2020.
AUM in % by Index Category AUM in USD by Index Category
54.44%22.79%
18.69%
4.08%0.00%
Hard Asset Indices Sector Indices
Country Indices Bond Indices
Digital Assets Indices
Index Category AUM (USD bn)
Hard Asset Indices 6.30
Sector Indices 2.64
Country Indices 2.16
Bond Indices 0.47
Digital Assets Indices 0.00
Close to 50% of MVIS Indices are licensed to underly exchange-traded products (ETFs) with currently USD
13.5 billion invested.
Many of the ETFs based on our indices are the largest in their competitive environment.
MVIS − Investable Index Design
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Development of Indices, Exchange-Traded Products (ETPs) and AUM
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Number of ETPs Number of Indices AUM
Index Concept − Pure-Play
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Following the Cash Flow
Globalisation has changed industries and economies and created more complex markets. The MVIS index
methodology approaches this complexity with a pure-play concept applied to countries and sectors.
MVIS indices provide a more accurate reflection of an economy than traditional indices and the pure-play
concept supports the opening of markets that have historically been difficult to access.
Country Level: Index exposure includes local companies as well as non-local companies incorporated
outside the target country that generate at least 50% of their revenues in the target country.
Sector Level: Index exposure includes companies that generate at least 50% of their revenues in the target
sector.
Pure-Play Selection Examples
Country Level - MVIS Mexico Index
Company Fresnillo plc
Incorporated United Kingdom
Total Revenues in 2019 $2,119,641,000
Revenues in Mexico $2,119,641,000
% of Total Revenues 100%
Sector Level - MVIS Global Coal Index
Company Aurizon Holdings Ltd.
Incorporated Australia
Total Revenues in 2019 $2,077,800,000
Revenues in global coal segment $1,233,600,000
% of Total Revenues 59%
Traditional index concepts that exclude non-local companies generating the majority of their revenues in
the target country of an index might miss key elements of the local economy.
The sector representation of an index can change significantly based on inclusion or exclusion of non-local
companies that meet the above mentioned revenue criteria.
Index Concept − Pure-Play
6
Data as of 31 March 2020. Discrepancies are caused by rounding.
MVIS Russia Index
With Non-Local Companies Without Non-Local Companies Difference
Sector Weight Count Weight Count Weight Count
Consumer Discretionary 0.00% 0 0.00% 0 0.00% 0
Consumer Staples 7.56% 2 4.66% 1 2.90% 1
Energy 40.06% 7 48.99% 7 -8.92% 0
Financials 10.25% 3 12.53% 3 -2.28% 0
Health Care 0.00% 0 0.00% 0 0.00% 0
Industrials 0.00% 0 0.00% 0 0.00% 0
Information Technology 0.00% 0 0.00% 0 0.00% 0
Materials 25.88% 8 23.83% 6 2.04% 2
Telecommunication Services 13.46% 5 6.58% 2 6.89% 3
Utilities 2.79% 1 3.41% 1 -0.62% 0
Real Estate 0.00% 0 0.00% 0 0.00% 0
Total 100% 26 100% 20 - 6
Index Concept − Liquidity
7
Review Q1 2020.
Setting the Stage for Investability
MVIS applies strict and demanding liquidity screenings to companies:
— Free float of at least 10%
— Full market capitalisation of at least USD 150 million
— Three months average daily trading volumes of at least USD 1 million at review date and at the time of
the previous two reviews
— At least 250,000 shares traded per month over the last six months at a review date and at the previous
two reviews
MVIS selection criteria and capping method typically result in a more liquid index.
Component Selection Criteria for MVIS Russia Index
Criteria Required GAZPROM SBERBANK
Full Market Capitalisation $150,000,000 $71,375,642,624 $75,905,105,920
Average daily trading volume (1) $1,000,000 $66,587,280 $51,103,356
Average daily trading volume (2) $1,000,000 $56,197,428 $35,881,260
Average daily trading volume (3) $1,000,000 $66,313,580 $48,102,520
Traded shares / per month (1) 250,000 171,892,214 59,539,841
Traded shares / per month (2) 250,000 176,704,857 60,425,463
Traded shares / per month (3) 250,000 193,180,638 78,834,357
Free-Float 10% 50% 48%
Mitigating Concentration Issues
MVIS elaborated capping scheme:
— Country and regional indices: Maximum of 8% cap for local and 4.5% for non-local companies
— Commodity and sector indices: Maximum of 8% cap (or 20% for selected indices)
— Special capping schemes for MVIS Australia Banks and MVIS Australia A-REITs
Index Concept − Diversification
8
Review Q1 2020. * in USD
Component Weightings MVIS Russia Index
Company Country Free Float Map Weight Capped Float Map Capped Weight Capping Factor
GAZPROM Russia 28,360,867,299 16.40% 6,786,947,391 8.00% 0.239306764
LUKOIL Russia 27,961,291,902 16.17% 6,786,947,391 8.00% 0.242726531
SBERBANK Russia 27,847,163,044 16.10% 5,938,578,967 7.00% 0.213256157
MMC Russia 17,137,985,311 9.91% 5,514,394,755 6.50% 0.32176447
NOVATEK Russia 10,669,579,003 6.17% 5,090,210,543 6.00% 0.477076981
… ... ... ... ... ... ...
ROSTTELECOM Russia 1,046,917,475 0.61% 1,046,917,475 1.23% 1
Cap factors guarantee well-balanced, diversified index eposure especially in markets dominated by few
large companies, thus large companies will not dominate an index.
Example MVIS Russia Index: Top 6 companies are capped, all other company weights increase; the
excess weight generated by capping is distributed across smaller companies, leading to „underweighted“
large- and „overweighted“ mid- and small cap companies.
Index Concept − Diversification
9
Review Q1 2020.
Weightings of MVIS Russia Index – Top 25 Components
0%
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Uncapped Weightings Capped Weightings
Real-time Transparency
Real-time index data and more at www.mvis-indices.com
— Index compositions and weightings
— Performance and charting tools
— Index history and statistics
— Factsheets
— Video research
— MVIS OneHundred expert commentaries
— News email service to receive index information,
review results, and the latest research
— Corporate action service/RSS Feed
— Licensing information
Index Concept − Transparency
10
MVIS Global Junior Gold Miners Index (MVGDXJ)
Most liquid junior companies in the global gold and silver mining industry.
Contains 75 components.
Full Market Cap: USD 89.16 billion.
Index history back to 31.12.2003.
Licensed to underlie ETFs. AUM: USD 4.367 billion.
Index Statistics
11
Data as of 31.03.2020.
Liquidity
Fundamental Data
Country and Size Breakdown
Top 5 Countries Count Weight
Canada 39 52.57%
Australia 11 23.11%
South Africa 3 10.03%
Peru 1 4.45%
United States 4 2.94%
Top 5 Size Count Weight
Large-Cap - -
Mid-Cap 23 69.29%
Small-Cap 42 30.57%
Micro-Cap 1 0.14%
Total 66 100.00%
Ratios (June 2019) Value
Price/Earnings (incl. Negative) Trailing -68.97
Price/Earnings (incl. Negative) Projected 31.16
Price/Book 1.12
Dividend Yield 0.82
Price/Sales 1.84
Top 5 Countries Count Weight
Canada 45 50.91%
Australia 13 22.63%
South Africa 3 9.97%
United Kingdom 2 3.14%
Jersey 2 2.84%
Top 5 Size Count Weight
Large-Cap 1 2.58%
Mid-Cap 16 54.02%
Small-Cap 44 40.39%
Micro-Cap 14 3.01%
Total 75 100.00%
Average Daily Trading Volume Period Volume (USD)
Average 01.01.2020-31.03.2020 11,051,363
Average 01.10.2019-31.12.2019 7,540,631
Average 01.07.2019-30.09.2019 9,710,489
Weighted Average 01.01.2020-31.03.2020 23,583,208
Weighted Average 01.10.2019-31.12.2019 14,528,110
Weighted Average 01.07.2019-30.09.2019 18,521,440
Ratios (March 2020) Value
Price/Earnings (incl. Negative) Trailing 93.98
Price/Earnings (incl. Negative) Projected 14.20
Price/Book 1.44
Dividend Yield 0.71
Price/Sales 2.11
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MVGDXJ Total Return NYSE Araca Gold Miners Gross Total Return
MVIS Russia Index (MVRSX)
Largest and most liquid companies in Russia.
Contains 26 components.
Full Market Cap: USD 411.09 billion.
History back to 28.09.2007.
Licensed to underlie ETFs. AUM: USD 0.942 billion.
Index Statistics
12
Data as of 31.03.2020.
Liquidity
Fundamental Data
Country and Size Breakdown
Top 5 Countries Count Weight
Russia 19 80.46%
Netherlands 2 8.10%
United Kingdom 1 4.16%
Jersey 1 3.20%
British Virgin Islands 1 2.65%
Size Count Weight
Large-Cap 18 84.08%
Mid-Cap 7 15.92%
Small-Cap - -
Micro-Cap - -
Total 25 100.00%
Ratios (June 2019) Value
Price/Earnings (incl. Negative) Trailing 6.43
Price/Earnings (incl. Negative) Projected 5.72
Price/Book 0.93
Dividend Yield 5.61
Price/Sales 0.83
Top 5 Countries Count Weight
Russia 20 81.79%
Netherlands 2 8.27%
Jersey 1 4.51%
British Virgin Islands 1 2.11%
United Kingdom 1 1.87%
Size Count Weight
Large-Cap 17 80.63%
Mid-Cap 9 19.37%
Small-Cap - -
Micro-Cap - -
Total 26 100.00%
Average Daily Trading Volume Period Volume (USD)
Average 01.01.2020-31.03.2020 26,423,417
Average 01.10.2019-31.12.2019 19,931,864
Average 01.07.2019-30.09.2019 17,484,719
Weighted Average 01.01.2020-31.03.2020 35,430,713
Weighted Average 01.10.2019-31.12.2019 26,514,843
Weighted Average 01.07.2019-30.09.2019 23,103,948
Ratios (March 2020) Value
Price/Earnings (incl. Negative) Trailing 6.70
Price/Earnings (incl. Negative) Projected 6.90
Price/Book 1.05
Dividend Yield 6.69
Price/Sales 0.82
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MVRSX Total Return MSCI Russia Net Return USD
MVIS Global Agribusiness Index (MVMOO)
Largest and most liquid companies in the global agribusiness segment.
Contains 52 components.
Full Market Cap: USD 478.48billion.
History back to 29.12.2006.
Licensed to underlie ETFs. AUM: USD 0.505 billion.
Index Statistics
13
Data as of 31.03.2020.
Liquidity
Fundamental Data
Country and Size Breakdown
Top 5 Countries Count Weight
United States 17 47.69%
Germany 2 9.85%
Canada 1 6.32%
Norway 4 6.12%
Japan 4 5.99%
Size Count Weight
Large-Cap 29 86.64%
Mid-Cap 22 12.54%
Small-Cap 4 0.82%
Micro-Cap - -
Total 55 100.00%
Ratios (June 2019) Value
Price/Earnings (incl. Negative) Trailing 21.60
Price/Earnings (incl. Negative) Projected 16.88
Price/Book 2.00
Dividend Yield 1.73
Price/Sales 0.93
Top 5 Countries Count Weight
United States 18 50.97%
Germany 2 8.13%
Canada 1 7.04%
Japan 4 6.07%
Norway 4 5.25%
Size Count Weight
Large-Cap 20 76.29%
Mid-Cap 27 22.14%
Small-Cap 5 1.57%
Micro-Cap - -
Total 52 100.00%
Average Daily Trading Volume Period Volume (USD)
Average 01.01.2020-31.03.2020 30,257,588
Average 01.10.2019-31.12.2019 23,129,014
Average 01.07.2019-30.09.2019 23,017,727
Weighted Average 01.01.2020-31.03.2020 64,743,856
Weighted Average 01.10.2019-31.12.2019 48,402,816
Weighted Average 01.07.2019-30.09.2019 48,689,437
Ratios (March 2020) Value
Price/Earnings (incl. Negative) Trailing 25.62
Price/Earnings (incl. Negative) Projected 16.10
Price/Book 1.86
Dividend Yield 2.26
Price/Sales 0.98
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MVMOO Total Return MSCI ACWI Select Agriculture Producers IMI Net Return
MVIS US Listed Oil Services 25 Index (MVOIH)
Largest and most liquid US-listed companies in the oil services sector.
Contains 25 components.
Full Market Cap: USD 53.56billion.
History back to 29.09.2000.
Licensed to underlie ETFs. AUM: USD 0.287 billion.
Index Statistics
14
Data as of 31.03.2020.
Liquidity
Fundamental Data
Country and Size Breakdown
Top 5 Countries Count Weight
United States 14 48.38%
Curacao 1 19.75%
United Kingdom 3 11.01%
Luxembourg 1 4.82%
Switzerland 1 4.64%
Size Count Weight
Large-Cap 6 48.97%
Mid-Cap 10 40.82%
Small-Cap 7 10.21%
Micro-Cap - -
Total 23 100.00%
Ratios (June 2019) Value
Price/Earnings (incl. Negative) Trailing -13.50
Price/Earnings (incl. Negative) Projected -70.94
Price/Book 0.73
Dividend Yield 2.86
Price/Sales 0.84
Top 5 Countries Count Weight
United States 17 59.67%
Curacao 1 18.11%
United Kingdom 3 5.91%
Luxembourg 1 5.77%
Netherlands 1 4.54%
Size Count Weight
Large-Cap 4 38.82%
Mid-Cap 3 14.47%
Small-Cap 13 42.52%
Micro-Cap 5 4.20%
Total 25 100.00%
Average Daily Trading Volume Period Volume (USD)
Average 01.01.2020-31.03.2020 14,634,848
Average 01.10.2019-31.12.2019 14,216,201
Average 01.07.2019-30.09.2019 15,604,207
Weighted Average 01.01.2020-31.03.2020 34,552,504
Weighted Average 01.10.2019-31.12.2019 32,037,145
Weighted Average 01.07.2019-30.09.2019 32,121,094
Ratios (March 2020) Value
Price/Earnings (incl. Negative) Trailing -4.33
Price/Earnings (incl. Negative) Projected -28.81
Price/Book 0.64
Dividend Yield 3.72
Price/Sales 0.69
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MVOIH Total Return Dow Jones U.S. Selection Oil Equipment & Services TR
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MVDA
A market cap-weighted index
Tracks the performance of the 100 largest digital assets
Benchmark/universe for the MVIS CryptoCompare Digital Assets Indices
Contains three sub-indices (large, mid and small capitalization)
Total market capitalization - USD 176.12 billion
Index history back to 31 December 2014
No liquidity screen
MVIS CryptoCompare Digital Assets 100 Index (MVDA)
Data as of 31.03.2020. *Performance since inception is annualized
Liquidity
Fundamental Data
Country and Size Breakdown
Top 5 Countries Count Weight
United States 14 48.38%
Curacao 1 19.75%
United Kingdom 3 11.01%
Luxembourg 1 4.82%
Switzerland 1 4.64%
Ratios (June 2019) Value
Price/Earnings (incl. Negative) Trailing -13.50
Price/Earnings (incl. Negative) Projected -70.94
Price/Book 0.73
Dividend Yield 2.86
Price/Sales 0.84
Top 5 Components
Bitcoin 66.68%
Ethereum 8.25%
XRP 4.36%
Tether 2.64%
Bitcoin Cash 2.28%
Other 15.78%
Top 5 Components Period Volume (USD)
Average 1 Month March Review 222,603,394
Weighted Average 1 Month March Review 5,390,756,787
Index Performance Value Index Records Value
Year-to-Date Performance -7.79% All Time High/Low 8,877 / 50
1-Year Performance 15.99% 52-Weeks High/Low 3,768 / 1,339
Since Inception 71.27% Quarter High/Low 2,892 / 1,339
Month High/Low 2,459 / 1,339
Liquidity
15 No part of this material may be reproduced or referred to in any other publication without express
written permission of MV Index Solutions. All rights are reserved.
Index Statistics
16
Performance of Selected MVIS Indices versus Peer Indices
Risk Statistics of Selected MVIS Indices versus Peer Indices
Data as of 31 March 2020. Risk data based on 250 days.
MVIS Russia Peer IndexMVIS Global Junior
Gold MinersPeer Index
MVIS Global
AgribusinessPeer Index
MVIS US Listed Oil
Services 25Peer Index
YTD -32% -36% -32% -20% -25% -24% -70% -70%
2019 41% 51% 42% 41% 22% 13% -3% 2%
2018 -6% 0% -11% -8% -6% -9% -45% -42%
2017 5% 5% 6% 12% 22% 20% -20% -18%
2016 47% 55% 75% 55% 13% 15% 28% 29%
2015 1% 4% -19% -25% -9% -14% -25% -27%
2014 -44%% -46% -21% -12% 0% -1% -24% -22%
Since 2014 41% 62% 29% 36% 7% -8% -88% -86%
MVIS Russia Peer IndexMVIS Global Junior
Gold MinersPeer Index
MVIS Global
AgribusinessPeer Index
MVIS US Listed Oil
Services 25Peer Index
Volatility 33% 32% 45% 38% 25% 25% 62% 61%
Correaltion 91% 98% 98% 100%
Alpha 2% -12% 4% -3%
Beta 0.76 1.14 0.96 1.01
Alpha ‐ here defined as the excess rate of return of MVIS Indices relative to peer indices.
Beta ‐ here defined as the measure of the volatility, or systematic risk of MVIS Indices in comparison to peer indices.
MVIS Indices Underlying Exchange Traded Products
Data as of 31 March 2020. * in mln USD
Type Underlying Index Index Ticker AUM*
Har
d A
sset
s / S
ecto
r
MVIS Global Junior Gold Miners MVGDXJTR 4,075.94
MVIS US Listed Semiconductor 25 MVSMHTR 1,899.43
MVIS Global Agribusiness MVMOOTR 492.80
MVIS US Listed Biotech 25 MVBBHTR 319.29
MVIS US Listed Oil Services 25 MVOIHTR 253.81
MVIS eSports & Video Gaming MVESPOTR 183.41
MVIS US Listed Pharmaceutical 25 MVPPHTR 179.04
MVIS US Business Development Comp. MVBIZDTG 148.13
MVIS Global Rare Earth/Strategic Metals MVREMXTR 113.10
MVIS Global Mortgage REITs MVMORTTR,
MVMORT93.45
MVIS US Listed Retail 25 MVRTHTR 81.38
MVIS Global Gaming MVBJKTR 21.98
MVIS North America Energy Infrastructure Index MVEINCTG 18.05
MVIS Global Coal MVKOLTR 17.23
MVIS Global Uranium & Nuclear Energy MVNLRTR 16.46
MVIS Global Oil Refiners MVCRAKTR 10.41
MVIS Global Unconventional Oil & Gas MVFRAKTR 5.95
Type Underlying Index Index Ticker AUM*
Co
un
try
MVIS Russia MVRSXTR,
MVRSX864.87
MVIS Vietnam MVVNMTR 265.71
MVIS India Small-Cap MVSCIFTR 70.02
MVIS Brazil Small-Cap MVBRFTR 43.44
MVIS GDP Africa MVAFKTR 31.47
MVIS Russia Small-Cap MVRSXJTR 23.71
MVIS Egypt MVEGPTTR 21.98
MVIS Indonesia MVIDXTR 21.84
Bo
nd
s MVIS US Investment Grade Floating Rate MVFLTR 470.87
MVIS EM Aggregate Bond MVEMAG 13.34
Au
stra
lia (
AU
D)
MVIS Australia Equal Weight MVMVWTRG 524.30
MVIS Australia A-REITs MVMVATRG 103.37
MVIS Australia Small-Cap Dividend Payers MVMVSTRG 30.02
MVIS Australia Energy & Mining MVMVRTRG 26.75
MVIS Australia Banks MVMVBTRG 21.60D
A MVIS Bitcoin US OTC Spot Index MVBTCO 0.40
17
Contacts
Management/Business Development
Thomas Kettner, Managing Director
Phone:+49 69 4056 695 31
Email: [email protected]
Website
www.mvis-indices.com
Media Relations and Marketing
Séverine Thäsler-Jäger, Marketing Manager
Phone: +49 69 4056 695 53
E-mail: [email protected]
18
Important Disclosure
19
Copyright © 2019 by MV Index Solutions GmbH (“MVIS”). All rights reserved. MVIS is a registered trademark of Van Eck Associates Corporation that has been licensed to MV Index Solutions GmbH.
Redistribution, reproduction and/or photocopying in whole or in part are prohibited without written permission. All information provided by MVIS is impersonal and not tailored to the needs of any person, entity or
group of persons. MVIS receives compensation in connection with licensing its indices to third parties. You require a license from MVIS to launch any product that is linked to an MVIS index to use the index data
for any business purpose and for all use of the MVIS name or name of the MVIS index. Past performance of an index is not a guarantee of future results.
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