Equity
MSCI® ACWI® ex-US Index IMI IndexSM
Meaningful CIT Tax Benefits Gained in the MSCI ACWI ex US IMI IndexSM
Our research found that a collective investment trust investor benchmarked to the MSCI ACWI ex US IMI Index was eligible to reclaim an additional 16 basis points in foreign dividend withholding taxes as compared to a mutual fund investor using the same index. Learn more
| 2019 Gross Dividend Yield (%) |
ERISA Tax Rate (%) |
Mutual Fund Tax Rate (%) |
Difference in Tax Rate (%) |
Weight in MSCI ACWI ex-US Index (%) |
Impact (Yield Tax Diff Weight) (bps) | |
| Australia | 4.2 | 0 | 15 | 15 | 4.5 |
2.8 |
| Belgium | 2.9 | 0 | 15 | 15 | 0.6 | 0.3 |
| Canada | 3.1 | 0 | 15 | 15 | 6.7 | 3.1 |
| Denmark | 1.9 | 0 | 15 | 15 | 1.2 | 0.4 |
| Finland | 4.0 | 0 | 15 | 15 | 0.6 | 0.4 |
| Germany | 3.0 | 0 | 15 | 15 | 5.7 | 2.5 |
| Japan | 2.3 | 0 | 10 | 10 | 16.1 | 5.5 |
| Netherlands | 2.4 | 0 | 15 | 15 | 2.6 | 0.9 |
| Sweden | 4.2 | 0 | 15 | 15 | 4.5 | 2.8 |
| Switzerland | 2.9 | 0 | 15 | 15 | 0.6 | 0.3 |
| MSCI ACWI ex-US Index | 38.1 | +16 |
