Allocation

Nine countries, and the concentration here is by country far more than by company. Germany, Italy and Finland together carry more than half the weight, while the largest single position is only about five percent. That shape is a feature of where long lived dividend payers cluster in the euro area rather than a geographic choice the index makes. Finland in particular is far heavier here than its size would suggest, because a cluster of Finnish industrials have unusually long unbroken payout records. The sector and country labels are computed by us from company data, not taken from the fund's own published breakdown, so they will not always agree with the sponsor's factsheet.