With $8.8 billion in total assets, the exchange-traded fund (ETF) iShares MSCI EMU Index ETF (EZU) is the third-largest fund in the European equity markets, behind only WisdomTree Europe Hedged Equity (HEDJ) and Vanguard FTSE Europe (VGK), both of which were covered earlier in our ongoing series about European ETFs.

EZU is 83% allocated to large-cap companies, with 14% in mid caps and 2% in small caps. All of these companies are from countries that use the euro, with EZU thereby designed to exclude stocks from non-euro countries such as the United Kingdom, Switzerland and Sweden.