Performance Clocks The length of each line is proportional to the monthly total return of each index in U.S. dollars. The clocks track the trailing 12 months. 0% 18% Monthly Return (%): ■ Positive ■ Negative Morningstar US Market Index TR USD 03/31/2023 12 11 10 9 8 7 6 Morningstar UK Index GR USD 03/31/2023 12 11 10 9 8 7 6 Morningstar Eurozone Index GR USD 03/31/2023 12 11 10 9 8 7 6 Morningstar Asia ex-Japan Index GR USD 03/31/2023 12 11 10 9 8 7 6 Morningstar Japan Index NR USD 03/31/2023 12 11 10 9 8 7 6 Morningstar Australia Index GR USD 03/31/2023 12 11 10 9 8 7 6 5 4/ 2022 Sources: Morningstar Direct, World Bank. 1/2023 2 3 01/2023 10.57 04/2022 5.98 07/2022 7.49 10/2022 5.42 02/2023 6.80 05/2022 1.80 08/2022 0.52 11/2022 11.78 03/2023 1.06 06/2022 12.81 09/2022 12.13 12/2022 2.18 5 4/ 2022 1/2023 2 3 01/2023 5.68 04/2022 8.62 07/2022 5.52 10/2022 2.30 02/2023 3.64 05/2022 1.47 08/2022 2.43 11/2022 9.52 03/2023 3.78 06/2022 7.24 09/2022 9.80 12/2022 0.72 5 4/ 2022 1/2023 2 3 01/2023 7.34 04/2022 4.65 07/2022 0.54 10/2022 5.32 02/2023 6.11 05/2022 0.05 08/2022 0.52 11/2022 17.10 03/2023 2.98 06/2022 5.08 09/2022 12.25 12/2022 0.07 5 4/ 2022 20 10 04/2020 04/2021 Top 10 Index Constituents 03/31/2023 Company Grupo Financiero Banorte GFNORTEO America Movil AMXB Walmart de Mexico WALMEX Fomento Economico Mexicano FEMSAUBD Grupo Mexico GMEXICOB Cemex CEMEXCPO Grupo Aeroportuario del Pacifico GAPB Grupo Bimbo BIMBOA Grupo Aeroportuario del Sureste ASURB Arca Continental AC 04/2022 Morningstar Emerging Markets 13.27 1/2023 2 3 01/2023 11.54 04/2022 6.83 07/2022 4.44 10/2022 8.75 02/2023 0.62 05/2022 2.34 08/2022 6.33 11/2022 12.72 03/2023 2.76 06/2022 11.57 09/2022 9.03 12/2022 0.32 $30K Morningstar Mexico 22.30 Growth of $10K 03/31/2023 5 4/ 2022 1/2023 2 3 01/2023 6.81 04/2022 4.20 07/2022 4.55 10/2022 6.32 02/2023 0.02 05/2022 1.22 08/2022 6.26 11/2022 10.90 03/2023 0.94 06/2022 9.21 09/2022 9.61 12/2022 0.37 5 4/ 2022 1/2023 2 3 01/2023 6.84 04/2022 9.02 07/2022 9.38 10/2022 8.09 02/2023 2.31 05/2022 0.22 08/2022 3.83 11/2022 5.43 03/2023 2.90 06/2022 8.40 09/2022 9.29 12/2022 5.88 Country Statistics 03/31/2023 Population (2021) GDP (2021) GDP Annual Growth (2021) GNI per capita (2021) Inflation (2021) Life Expectancy (2020) Mexico 176.7M 1.27T 4.7% $9,590 5.7% 70 Portfolio Statistics 03/31/2023 Morningstar Mexico Index Number of Constituents Assets in Top 10 Trailing 1-Year Return 1-Yr Standard Deviation 1-Yr Sharpe Ratio 1-Yr Max. Drawdown 48 65.49% 9.98% 29.20% 0.35% -20.51% 2023 2022 COUNTRY INDEX SPOTLIGHT Mexico The Morningstar Mexico Index is one of the top performers over the trailing 12 months. However, Mexico's booming economy faces headwinds. Interest rates are rising at a record pace, while recession remains a concern. Weight (%) 10.82 10.75 10.48 9.07 7.64 4.30 3.65 3.58 2.98 2.21 Trailing 1-Year Return (%) 20.38 10.42 -0.85 16.62 -17.24 2.49 24.78 68.96 41.53 37.96 73