XUSE

The iShares MSCI World ex‑USA UCITS ETF (ticker XUSE) is an accumulating UCITS equity fund that seeks to track the MSCI World ex USA Index, providing broad exposure to large‑ and mid‑cap companies in developed markets outside the United States. The fund holds roughly 774 securities across Europe, Japan, Canada and other developed markets and is listed on multiple European exchanges, including a GBP‑quoted line on the London Stock Exchange. Returns are driven by the performance of non‑U.S. developed markets, sector leadership outside the U.S. (commonly industrials, healthcare and financials) and currency movements versus an investor’s base currency. The ETF is typically used to reduce U.S. concentration in a global equity allocation or to express a view on overseas markets; main risks are foreign‑market and FX volatility, regional or sector concentration, and market‑cap weighting effects inherent to passive index tracking.