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Description:

This exchange-traded fund tracks the most well-known international benchmark: the MSCI Europe, Australasia, and Far East (EAFE) Index. This index, developed by Morgan Stanley, is the oldest international index.

The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI EAFE index (the underlying index). The fund invests at least 90% of assets in the securities of its underlying index or in ADRs, GDRs or EDRs representing securities in the underlying index. It may invest the remainder of assets in securities not included in its underlying index, but which BGFA believes may help the fund track its underlying index. The fund is nondiversified.

EFA is the top global ETF by assets. This portfolio tracks EFA and its components, from Morningstar.com. As of April 30, 2007, EFA held 809 stock positions. It's heavily weighted to Europe. As of 4/30/2007:
By Region
UK/Western Europe 69.7%
Japan 21.3%

By country
United Kingdom 22.8%
Japan 21.3%
France 10.5%
Germany 8.0%
Switzerland 7.0%

Expense ratio: 0.35%

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