Indexy a trhy
MSCI World: The Developed World in a Single Index
Key takeaways
- MSCI World includes over 1,400 equities from 23 developed markets — the US accounts for approximately 70% of the index's weight.
- The index does not include emerging markets (China, India, Brazil) — that is covered by MSCI ACWI or FTSE All-World.
- Market capitalisation weighting means the world's largest companies (Apple, Microsoft, Nvidia) have a decisive influence.
- For Czech investors, it is available through Irish UCITS ETFs with favourable tax treatment for dividends.
- Combining MSCI World with an emerging markets ETF forms the basis of many so-called passive portfolios.
MSCI World is an equity index covering over 1,400 companies from 23 developed markets around the world, weighted by market capitalisation — the foundation of passive investing for millions of people.
What MSCI World exactly contains
By "developed markets" MSCI means countries with advanced market economies, robust infrastructure, and reliable regulation. The index includes the US, Japan, the United Kingdom, France, Canada, Germany and 17 other countries. Absent are China, India, Brazil, and the Republic of Korea — these belong to the emerging markets category.
The US dominates with a weight of around 70%. This reflects reality: American companies are the largest globally. Japan is in second place with approximately 6%, and the United Kingdom and France each hold around 4%.
Methodology: how MSCI selects and weights companies
MSCI uses float-adjusted market capitalisation — counting only freely tradeable shares, not those held by governments or founders. The index is revised quarterly. Companies must meet size and liquidity criteria. Small companies do not make it into MSCI World — that is covered by MSCI World Small Cap.
MSCI World vs. MSCI ACWI
- MSCI World — developed markets only, ~1,400 companies
- MSCI ACWI — developed and emerging markets, ~2,800 companies
- Emerging markets account for approximately 11–12% of ACWI
A detailed comparison of FTSE All-World and MSCI ACWI (de facto competitors) is covered in the article FTSE All-World vs. MSCI ACWI.
How to buy it as a Czech investor
Irish UCITS ETFs on MSCI World are among the most widely held investment instruments in Europe. Available at all standard brokers. The three-year tax test applies here too — once fulfilled, the gain from a sale is exempt from tax. More on tax treatment in the ETF tax overview for the Czech Republic.
FAQ
What is MSCI World?
An equity index including over 1,400 of the largest companies from 23 developed economies worldwide. The US accounts for around 70% of the weight. It is the foundation of passive investing in Europe and hundreds of UCITS ETF funds track it.
Why does MSCI World not include China or India?
Because MSCI classifies China and India as emerging markets, not developed. They are part of MSCI ACWI or MSCI Emerging Markets. MSCI World intentionally covers only "developed markets".
What is the tax situation for a Czech investor?
After meeting the three-year time test, the gain from selling an ETF tracking MSCI World is exempt from income tax. Dividends are subject to 15% tax. With an accumulating ETF nothing is distributed or taxed on an ongoing basis.
How does MSCI World differ from MSCI ACWI?
MSCI World covers only developed markets (23 countries), ACWI adds emerging markets (a further ~24 countries). ACWI has approximately twice as many companies and emerging markets account for around 12% of its weight.