MSCI EAFE Value ADR Index

The MSCI EAFE Value ADR Index aims to reflect the performance of the American Depositary Receipts (ADRs) opportunity set that exhibits Value style characteristics, as identified by the MSCI EAFE Value Index. The Index is constructed from the constituents of the MSCI EAFE ADR Index, tilt-weighted using the Value Inclusion Factors from the MSCI EAFE Value Index. The eligible universe comprises Level I, II and III ADRs traded on the New York Stock Exchange or the NASDAQ.