As of 2026, emerging markets make up roughly 12% of the MSCI ACWI Index, based on the latest MSCI methodology updates.
What percentage of MSCI ACWI ex US is emerging markets?
Emerging markets account for about 34% of the MSCI ACWI ex US Index, which excludes the United States but includes 27 emerging markets and 22 developed markets (excluding the US).
This index covers around 85% of the global equity opportunity set outside the US, so emerging markets clearly matter for international diversification. (Honestly, this is the best way to get broad exposure without U.S. dominance.)
Does MSCI ACWI include emerging markets?
Yes, the MSCI ACWI includes both developed and emerging markets, covering 23 developed and 27 emerging markets as of 2026.
That mix gives investors a true global snapshot, capturing everything from large-cap giants to mid-cap players across developed and emerging economies.
What is the difference between MSCI ACWI and MSCI World?
The main difference? MSCI ACWI includes emerging markets while MSCI World does not.
MSCI World sticks to 23 developed markets, but MSCI ACWI adds 27 emerging markets like China, India, and Brazil. Think of it as the difference between a global tour and a luxury European cruise.
What does MSCI ACWI mean?
MSCI ACWI stands for MSCI All Country World Index, a flagship global equity index maintained by MSCI Inc.
It tracks roughly 3,000 large- and mid-cap companies across 23 developed and 27 emerging markets, covering about 85% of the global investable equity universe. Not too shabby for a single benchmark.
What does ACWI IMI stand for?
ACWI IMI stands for MSCI ACWI Investable Market Index, which includes large, mid, and small-cap stocks.
This version stretches coverage to 99% of each country’s free-float adjusted market cap, giving investors the whole pie—not just the crust.
What does NR USD mean?
NR USD means Net Return in U.S. dollars, a version of an index that reinvests dividends after withholding taxes.
Unlike Price Return (PR), which ignores dividends, NR gives you the total return picture, accounting for those pesky tax deductions. Handy for real-world performance checks.
How many MSCI indexes are there?
MSCI maintains over 160,000 indexes, spanning asset classes, regions, and market segments.
These benchmarks power thousands of ETFs and institutional portfolios, from frontier markets to factor-based strategies. That’s a lot of spreadsheets.
How many companies are in the MSCI ACWI?
The MSCI ACWI includes about 3,000 large and mid-cap companies from 23 developed and 27 emerging markets.
This covers roughly 85% of the global investable equity market cap—so you’re not missing much by sticking with this index.
What percent of Acwi is US?
The United States makes up approximately 59.48% of the MSCI ACWI as of 2026, based on the latest index weightings.
| Country | Weight | Country | Weight |
|---|---|---|---|
| United States | 59.48% | Japan | 5.84% |
| China | 4.10% | United Kingdom | 3.79% |
| Canada | 2.86% | France | 2.45% |
What is MSCI ACWI NR USD?
MSCI ACWI NR USD is the Net Return version of the MSCI ACWI Index in U.S. dollars, accounting for dividend reinvestment after taxes.
Investors love this version because it shows the full return picture, including reinvested dividends net of withholding taxes. No surprises here.
What does IMI mean in index?
IMI in an index stands for Investable Market Index, which includes large, mid, and small-cap stocks.
MSCI IMI indexes aim to cover 99% of each country’s free-float adjusted market cap, leaving almost no stone unturned in equity exposure.
What is MSCI China index?
The MSCI China Index tracks large and mid-cap stocks across China’s equity universe, including A shares, H shares, B shares, red chips, and foreign listings.
With around 730 constituents, it covers about 85% of China’s free-float adjusted market cap. For China-focused investors, this is the go-to benchmark.
What does NR mean in Morningstar?
NR in Morningstar stands for Non-Rated, indicating securities that Morningstar has not assigned a rating to.
This happens when Morningstar rates some share classes of a security but not others, leaving the unrated ones marked NR. Simple as that.
Is China in MSCI EAFE?
No, China is not included in the MSCI EAFE Index, which focuses exclusively on developed markets outside the U.S. and Canada.
China sits in the MSCI Emerging Markets Index instead, reflecting its classification as an emerging market. EAFE is strictly for developed economies.
