The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. EWD offers investors exposure to the European market of Sweden by investing in securities that trade on the national stock exchange of the nation. Since many of the large caps in this fund are likely to be found in other EFA holdings, the fund is not appropriate for investors seeking broad diversification across Europe. For investors looking for high levels of exposure to the Swedish market in particular, EWD is probably the best ‘pure play’ option available.