The modified market cap-weighted index tracks the performance of emerging markets sovereign bonds denominated in local currency. The MVIS EM Sovereign Bond Index (local FX) (MVEMSL) is derived from the MVIS EM Aggregate Bond Index (MVEMAG), which tracks the performance of emerging markets sovereign bonds and corporate bonds denominated in USD, EUR or local emerging markets currencies. To be included in MVEMAG index bonds must be issued by an emerging markets sovereign or quasi-sovereign issuer or a corporate issuer whose primary country of risk is deemed to be an emerging market country.
