MSCI Europe Defense Select 10 EW Adaptive Fixed Basket 5% Decrement Index

The MSCI Europe Defense Select 10 EW Adaptive Fixed Basket 5% Decrement Index measures the performance of a fixed, equally weighted basket of 10 European aerospace and defense companies selected under the MSCI Adaptive Fixed Basket methodology. The adaptive framework allows replacement of removed constituents from the MSCI Europe IMI Aerospace & Defense universe to maintain the target basket size. The 5% Decrement version applies a fixed annual 5% decrement, deducted daily from index performance.