𝗞𝗻𝗼𝘄𝗹𝗲𝗱𝗴𝗲 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 - 08/11/25 𝗗𝗼 𝘆𝗼𝘂 𝗸𝗻𝗼𝘄 𝘁𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝘁𝗵𝗲 𝗦𝗣𝟱𝟬𝟬 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗖𝗔𝗖𝟰𝟬 ? S&P 500: American index, comprising the 500 largest companies listed in the United States (NYSE and NASDAQ). CAC 40: French index, comprising 40 large companies listed in Paris (Euronext Paris). Dividends generally reflect a solid company, with good cash flow and disciplined management. But to benefit from compound returns, they must be reinvested. This allows me to address an important point with you, especially for French investors. Do you know the difference between the SP500 and the CAC40, in terms of their calculation method? 𝙏𝙝𝙚 𝙎𝙋𝟱𝟬𝟬 𝙞𝙣𝙙𝙚𝙭 𝙧𝙚𝙞𝙣𝙘𝙤𝙧𝙥𝙤𝙧𝙖𝙩𝙚𝙨 𝙩𝙝𝙚 𝙙𝙞𝙫𝙞𝙙𝙚𝙣𝙙𝙨 of the companies that make up the index, 𝙪𝙣𝙡𝙞𝙠𝙚 𝙩𝙝𝙚 𝘾𝘼𝘾𝟰𝟬, which does not. A novice investor who listens to the news that the CAC40 is at the same level as in 2008 would mistakenly believe that the French economy has not changed since then. Dividends must be reincorporated to be able to compare the two indices. The CAC40 index, which includes reinvested dividends, is called the CAC40 GR (Gross Total Return).