(WLD) Lyxor MSCI World D-EUR - Ratings and Ratios

The Lyxor MSCI World UCITS ETF (share class WLD) is a France- domiciled, UCITS-compliant fund that seeks to replicate the MSCI World Net Total Return USD Index while neutralising monthly EUR/USD currency movements through an embedded hedge. This structure gives investors exposure to the global developed-market equity universe without bearing direct FX risk.

The reference index is a free-float-adjusted, market-capitalisation weighted benchmark covering roughly 1,600 large- and mid-cap stocks across 23 developed economies. Its “Net Total Return” calculation reinvests dividends after tax, providing a pure equity performance measure. Full construction rules are published on MSCI’s website.

Key fund metrics (as of Q3 2024) include an expense ratio of 0.30 % p.a., assets under management of about €5 billion, and a physical replication approach with full-scale sampling. The ETF distributes earnings on an accumulating basis, which aligns with the Net Total Return methodology. Top sector allocations are Technology (~25 %), Health Care (~13 %), and Consumer Discretionary (~12 %).

Performance drivers are dominated by US monetary policy and corporate earnings trends, given that the United States accounts for roughly 60 % of the index’s market-cap weight. A rising Euro-dollar spread would erode the benefit of the built-in hedge, while global growth outlooks and inflation-linked rate hikes in Europe influence the risk-adjusted return profile of the underlying equities.

For a deeper, data-rich analysis of how the EUR-hedged exposure stacks up against unhedged alternatives, you may find ValueRay’s interactive dashboard useful.