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MSCI without cluster risk - Attractive?

In a recent article, "Welt" pointed out the alternatives to the classic MSCI World when it comes to the "US share" cluster risk.


Almost 70 percent of the index is made up of US equities. And this can increasingly become a problem - especially in the age of US President Donald Trump.


This is precisely where the new ETF from BNP Paribas Asset Management comes in. The Easy MSCI World Equal Weight Select ETF (WKN: A417BH) reduces the US share to 35.8 percent.


The fund distributes all shares equally weighted. This means that it is not the big tech stocks such as Apple, Microsoft and Nvidia that set the tone, but every stock counts equally. In addition, stocks with the worst ESG ratings (environmental, social, governance) are excluded. This makes the fund a classic Article 8 fund - so it is also suitable for sustainability-oriented investors.


There is no longer a single US stock in the top 10 of this new index. Instead, there are European defense stocks such as $RHM (+2,8%)
Rheinmetall, $BA. (-0,08%)
BAE Systems and $SAAB B (+4,75%)
Saab. In the classic MSCI World, the first 23 stocks come from the USA - only in 24th place comes $SAP (-0,54%)
SAP comes a European.


In the current market phase, equally weighted variants have really caught up. They are up around one percent, while the MSCI World is down four percent. The MSCI World ex USA
$EXUS (-0,31%) performed even better. Since the beginning of the year, it is eleven percentage points ahead of the classic.


The Invesco MSCI World Equal Weight ETF has raised half a billion euros within a short space of time and the MSCI World ex USA has now raised 2.4 billion euros.


Source (excerpt): "Welt", 03.06.25 | Graphic: ChatGPT


What is your opinion? Do you think these ETFs are attractive? I look forward to your comments.

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12 Commenti

I think that's a gimmick. According to your explanations, you're just running into the next bubble like defense. According to the methodology, the Msci would have to adapt to world events anyway, as the high US share is not hard-coded into it.

Personally, I have EM and Small Cap in addition to the World as well as a Eurostoxx 600, so the USA share is limited anyway.
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@Madhatter5566 short note: This is not my version but I am quoting from a Welt article. And, I will not invest in these ETFs. P.S.: I think your ETF combination is good and balanced.
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As soon as the US and thus the MSCI World are not doing well, do I need an ETF in which the defense hype makes up the largest three positions?
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@Alpalaka Yes, I also find that questionable
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"It is absurd to believe that a weighting method other than by market capitalization can lead to a higher return in the long term." (John C. Bogle)
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that ESG filters of all things are now flushing BAE and Rheinmetall to the top...
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@Yoshika...bio uranium ammunition and solar armor.
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@Yoshika yes, that surprised me too
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@Yoshika...if peace fails, then at least it will be sustainable.
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Never bet against the USA
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I see it completely differently and would even say: If the lump is running, then go for it. The rebalancing will do the rest by itself. $XDEM $IS3R.
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I am actually starting a second savings plan for the classic msci world ex usa as well
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