The fund delivers excellent coverage of developed-market equities outside the US. It includes small-caps and Canadian stocks in the portfolio. Constituents are selected and weighted for the index to ensure the holdings are investable, which should allow for the ETF to track the performance return using a replication strategy. Derivatives are also in the mix in seeking to hedge foreign currency exposure of the securities to the CAD. Index components are reviewed semi-annually in March and September. In all, the fund delivers comprehensive exposure to the developed stock market (excluding US) inexpensively using low-cost but efficient management techniques.