Global Index Mail

Research evidence excerpt

Global Index Mail

Min Moon AC Global Markets Strategy

(1-212 ) 272-8456 28 July 2026 J P M O R G A N

min.k.moon@jpmorgan.com

results of its Annual Market Classification Review after the US market close on June 23,

2026. Bulgaria will be reclassified from Standalone to Frontier Market status in one step

during the May 2027 Index review. Indonesia and Turkey are under

assessment, flagged for shareholder transparency and coordinated trading issues that can

distort free float and weaken price reliability for index replication. MSCI will monitor

progress in these markets through the November 2026 Index Review and, if sufficient

progress is not evident, MSCI may launch a consultation on the appropriate treatment.

MSCI will continue monitoring measures aimed at improving accessibility of

the Korean equity market for international institutional investors. MSCI provided a

reminder on the market classification status of Greece regarding the confirmed upgrade

from Emerging Market to Developed Market in one step during the May 2027 Index

Review.

• The 2026 J.P. Morgan ETF Handbook:The 2026 J.P. Morgan ETF Handbook provides

a detailed overview of the global ETF market. Topics discussed in this year’s edition

include actively managed ETFs, structured outcomes and option-based ETFs, the arrival

of dual share-class ETFs, UCITS ETFs, levered and single-stock ETFs, thematic ETFs,

crypto ETFs, prediction market ETFs, target-maturity bond ETFs, new launches,

conversions, fees, issuer market shares, industry consolidation, ETF options, and

investor flows. The second part provides a categorized directory of US-listed

ETFs (with AUM >$100Mn), grouped by asset class and market segment. Additionally,

you can access a comprehensive electronic database of all ETFs trading worldwide here