Companies: 10,636     total market cap: โ‚ฌ116.227 T
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Largest ETFs by Marketcap

ETFs: 3,897 total market cap: โ‚ฌ12.890 T suggest/edit icon suggest/edit icon download icondownload icon
RankName
Market CapPriceTodayPrice (30 days)FeeMarket
favorite icon1801
iShares MSCI South Africa UCITS ETF USD (Acc)
IBC4.DE
โ‚ฌ0.31 B51,79ย โ‚ฌ0.88%0.65%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1802
Xtrackers MSCI World ETF 2C EUR
XWEU.DE
โ‚ฌ0.31 B12,73ย โ‚ฌ0.37%0.17%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1803
iShares iBonds 2025 Term High Yield and Income ETF
IBHE
โ‚ฌ0.30 B19,65ย โ‚ฌ0.00%0.35%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1804
21Shares Ethereum ETP
AETH.SW
โ‚ฌ0.30 B27,28ย โ‚ฌ5.14%1.49%๐Ÿ‡จ๐Ÿ‡ญ CH
favorite icon1805
L&G Clean Energy UCITS ETF USD Acc
RENW.DE
โ‚ฌ0.30 B11,52ย โ‚ฌ0.84%0.49%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1806
VanEck Global Real Estate UCITS ETF
TRET.DE
โ‚ฌ0.30 B37,30ย โ‚ฌ0.15%0.25%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1807
iShares MSCI Brazil UCITS ETF USD (Dist)
IQQB.DE
โ‚ฌ0.30 B21,74ย โ‚ฌ1.40%0.74%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1808
Amundi STOXX Europe Select Dividend 30 - UCITS ETF Dist
SELD.DE
โ‚ฌ0.30 B20,34ย โ‚ฌ0.15%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1809
Amundi MSCI Switzerland UCITS ETF - CHF (C)
18MN.DE
โ‚ฌ0.30 B12,91ย โ‚ฌ0.76%0.25%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1810
Vanguard USD Corporate 1-3 year Bond UCITS ETF
VUSC.DE
โ‚ฌ0.30 B42,03ย โ‚ฌ0.15%0.09%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1811
Amundi Euro Highest Rated Macro-Weighted Government Bond UCITS ETF Acc
LYXA.DE
โ‚ฌ0.30 B125,70ย โ‚ฌ0.34%0.17%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1812
iShares iBonds Dec 2029 Term โ‚ฌ Corp UCITS ETF EUR Dist
29GI.DE
โ‚ฌ0.30 B5,15ย โ‚ฌ0.11%0.12%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1813
SPDR MSCI EMU UCITS ETF
ZPRE.DE
โ‚ฌ0.30 B92,72ย โ‚ฌ0.10%0.18%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1814
OSSIAM BLOOMBERG EUROZONE PAB NR
OP2E.DE
โ‚ฌ0.30 B170,64ย โ‚ฌ0.12%0.17%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1815
WisdomTree Equity Premium Income Fund
WTPI
โ‚ฌ0.30 B28,33ย โ‚ฌ0.20%0.44%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1816
Sprott Junior Gold Miners ETF
SGDJ
โ‚ฌ0.30 B76,32ย โ‚ฌ3.26%0.50%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1817
Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF
PDN
โ‚ฌ0.30 B35,94ย โ‚ฌ0.14%0.47%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1818
Xtrackers MSCI EM Asia Screened Swap UCITS ETF 1C
XMAS.DE
โ‚ฌ0.30 B68,00ย โ‚ฌ0.21%0.65%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1819
Invesco MSCI Emerging Markets UCITS ETF
EMSM.DE
โ‚ฌ0.30 B57,86ย โ‚ฌ0.09%0.19%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1820
Xtrackers MSCI World ESG UCITS ETF 1D
XZWD.DE
โ‚ฌ0.30 B9,01ย โ‚ฌ0.23%0.20%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1821
Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc
XAAG.DE
โ‚ฌ0.30 B31,41ย โ‚ฌ1.27%0.19%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1822
VictoryShares US Large Cap High Div Volatility Wtd ETF
CDL
โ‚ฌ0.30 B58,73ย โ‚ฌ0.01%0.39%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1823
Sprott Junior Uranium Miners ETF
URNJ
โ‚ฌ0.30 B21,96ย โ‚ฌ0.88%0.80%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1824
SPDR Bloomberg Short Term International Treasury Bond ETF
BWZ
โ‚ฌ0.30 B23,22ย โ‚ฌ0.36%0.35%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1825
iShares MSCI Indonesia ETF
EIDO
โ‚ฌ0.30 B15,67ย โ‚ฌ0.11%0.59%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1826
iShares Smart City Infrastructure UCITS ETF
AYEU.DE
โ‚ฌ0.30 B7,87ย โ‚ฌ0.11%0.40%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1827
NEOS Nasdaq-100 Hedged Equity Income ETF
QQQH
โ‚ฌ0.30 B46,57ย โ‚ฌ0.11%0.68%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1828
ProShares UltraShort S&P500
SDS
โ‚ฌ0.30 B56,65ย โ‚ฌ0.07%N/A๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1829
Amundi Prime Japan UCITS ETF DR (C)
PRAJ.DE
โ‚ฌ0.29 B30,78ย โ‚ฌ0.80%0.05%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1830
ARK Innovation UCITS ETF Class A USD Accumulation
ARXK.DE
โ‚ฌ0.29 B7,09ย โ‚ฌ2.24%0.75%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1831
SPDR FTSE International Government Inflation-Protected Bond ETF
WIP
โ‚ฌ0.29 B33,48ย โ‚ฌ0.15%0.50%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1832
Deka iBoxx โ‚ฌ Liquid Corporates Diversified UCITS ETF
EL49.DE
โ‚ฌ0.29 B100,79ย โ‚ฌ0.20%0.20%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1833
L&G Europe ex-UK Quality Dividends Equal Weight UCITS ETF EUR Dist
LGGE.DE
โ‚ฌ0.29 B15,86ย โ‚ฌ0.23%0.25%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1834
iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)
SNAZ.DE
โ‚ฌ0.29 B5,07ย โ‚ฌ0.06%0.53%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1835
iShares iBonds Dec 2028 Term $ Corp UCITS ETF USD Inc
CBU4.DE
โ‚ฌ0.29 B4,38ย โ‚ฌ0.28%0.12%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1836
Direxion Daily Aerospace & Defense Bull 3X Shares
DFEN
โ‚ฌ0.29 B56,95ย โ‚ฌ3.33%0.95%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1837
iShares iBonds Dec 2025 Term Muni Bond ETF
IBMN
โ‚ฌ0.29 B22,68ย โ‚ฌ0.05%0.18%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1838
Invesco NASDAQ-100 Swap UCITS ETF Inc
EQQD.DE
โ‚ฌ0.29 B65,38ย โ‚ฌ0.03%0.20%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1839
iShares Dow Jones Industrial Average UCITS ETF (DE)
EXI3.DE
โ‚ฌ0.29 B408,87ย โ‚ฌ0.04%0.51%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1840
Amundi MSCI EMU Small Cap ESG Broad Transition UCITS ETF DIST
LGWU.DE
โ‚ฌ0.29 B388,54ย โ‚ฌ0.13%0.40%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1841
Amundi USD Corporate Bond ESG UCITS ETF DR - Hedged EUR (D)
UCRH.DE
โ‚ฌ0.29 B38,88ย โ‚ฌ0.04%0.18%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1842
WisdomTree U.S. SmallCap Quality Dividend Growth Fund
DGRS
โ‚ฌ0.29 B42,84ย โ‚ฌ0.03%0.38%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1843
ARK Artificial Intelligence & Robotics UCITS ETF Class A USD Accumulation
AAKI.DE
โ‚ฌ0.29 B8,81ย โ‚ฌ1.10%0.75%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1844
Amundi IBEX 35 UCITS ETF Acc
AMES.DE
โ‚ฌ0.29 B434,65ย โ‚ฌ0.18%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1845
iShares MSCI World Value Factor Advaced UCITS ETF USD (Acc)
CBUI.DE
โ‚ฌ0.29 B6,80ย โ‚ฌ0.06%0.25%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1846
Vanguard ESG Global Corporate Bond UCITS ETF EUR Hedged - Dist
V3GE.DE
โ‚ฌ0.29 B4,08ย โ‚ฌ0.06%0.15%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1847
Xtrackers MSCI USA Industrials UCITS ETF 1D
XUIN.DE
โ‚ฌ0.29 B85,74ย โ‚ฌ0.24%0.12%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1848
WisdomTree Global Quality Dividend Growth UCITS ETF - USD
WTEQ.DE
โ‚ฌ0.29 B33,23ย โ‚ฌ0.20%0.38%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1849
Amundi MSCI Japan ESG Broad Transition UCITS ETF EUR Acc
J1GR.DE
โ‚ฌ0.29 B298,02ย โ‚ฌ1.02%0.15%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1850
iShares ESG Select Screened S&P Mid-Cap ETF
XJH
โ‚ฌ0.29 B38,70ย โ‚ฌ0.13%0.12%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1851
Avantis U.S. Mid Cap Value ETF
AVMV
โ‚ฌ0.28 B61,34ย โ‚ฌ0.03%0.20%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1852
Xtrackers Bloomberg Commodity ex-Agriculture & Livestock Swap UCITS ETF 2C USD
XSVT.DE
โ‚ฌ0.28 B40,65ย โ‚ฌ0.67%0.29%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1853
Global X Autonomous & Electric Vehicles ETF
DRIV
โ‚ฌ0.28 B25,85ย โ‚ฌ0.51%0.68%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1854
iShares MSCI EM Small Cap UCITS ETF USD (Dist)
EUNI.DE
โ‚ฌ0.28 B86,25ย โ‚ฌ0.40%0.74%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1855
Xtrackers II Eurozone Government Bond 15-30 UCITS ETF 1C
DBXF.DE
โ‚ฌ0.28 B271,63ย โ‚ฌ0.81%0.15%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1856
Bitwise Ethereum ETF
ETHW
โ‚ฌ0.28 B17,81ย โ‚ฌ0.19%N/A๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1857
iShares MSCI Netherlands ETF
EWN
โ‚ฌ0.28 B48,50ย โ‚ฌ0.11%0.50%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1858
iShares FTSE MIB ETF EUR Acc
SXRY.DE
โ‚ฌ0.28 B215,95ย โ‚ฌ0.14%0.33%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1859
Amundi DAX 50 ESG II UCITS ETF Dist
E909.DE
โ‚ฌ0.28 B48,64ย โ‚ฌ0.14%0.15%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1860
2x Long VIX Futures ETF
UVIX
โ‚ฌ0.28 B5,01ย โ‚ฌ0.17%N/A๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1861
Xtrackers Spain UCITS ETF 1D
XESD.DE
โ‚ฌ0.28 B39,69ย โ‚ฌ0.25%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1862
Amundi MSCI World SRI Climate Net Zero Ambition PAB UCITS ETF
MWSH.DE
โ‚ฌ0.28 B76,46ย โ‚ฌ0.08%0.20%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1863
ALPS/CoreCommodity Natural Reso
CCNR
โ‚ฌ0.28 B28,08ย โ‚ฌ0.52%0.39%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1864
Xtrackers Harvest CSI300 UCITS ETF 1D
RQFI.DE
โ‚ฌ0.28 B10,92ย โ‚ฌ0.26%0.65%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1865
Fidelity Limited Term Bond ETF
FLTB
โ‚ฌ0.28 B43,17ย โ‚ฌ0.20%0.25%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1866
iShares iBonds 2029 Term High Yield and Income ETF
IBHI
โ‚ฌ0.28 B20,04ย โ‚ฌ0.00%0.35%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1867
Direxion Daily S&P 500 Bear 3X Shares
SPXS
โ‚ฌ0.28 B28,98ย โ‚ฌ0.12%1.02%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1868
Invesco S&P SmallCap Information Technology ETF
PSCT
โ‚ฌ0.27 B49,44ย โ‚ฌ0.27%0.29%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1869
Amundi MSCI USA ESG Leaders Extra UCITS ETF DR - USD
MWOK.DE
โ‚ฌ0.27 B16,89ย โ‚ฌ0.37%0.10%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1870
WisdomTree Broad Commodities UCITS ETF - USD Acc
PCOM.DE
โ‚ฌ0.27 B11,09ย โ‚ฌ0.63%0.19%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1871
Amundi Euro Highest Rated Macro-Weighted Government Bond 1-3Y UCITS ETF Acc
LYS4.DE
โ‚ฌ0.27 B101,15ย โ‚ฌ0.02%0.17%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1872
Invesco EURO STOXX High Dividend Low Volatility UCITS ETF Dist
EHDV.DE
โ‚ฌ0.27 B31,75ย โ‚ฌ0.11%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1873
Invesco S&P 500 Equal Weight Index ETF Inc
SP2D.DE
โ‚ฌ0.27 B51,96ย โ‚ฌ0.50%0.20%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1874
Fidelity Investment Grade Bond ETF
FIGB
โ‚ฌ0.27 B37,02ย โ‚ฌ0.01%0.36%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1875
Alerian Energy Infrastructure ETF
ENFR
โ‚ฌ0.27 B26,57ย โ‚ฌ0.28%0.35%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1876
WisdomTree Japan SmallCap Dividend Fund
DFJ
โ‚ฌ0.27 B81,56ย โ‚ฌ0.06%0.58%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1877
HSBC MSCI AC Far East ex Japan UCITS ETF USD
H411.DE
โ‚ฌ0.27 B58,64ย โ‚ฌ0.02%0.19%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1878
Amundi Japan Topix UCITS ETF-C EUR Hedged
TTPX.DE
โ‚ฌ0.27 B517,08ย โ‚ฌ0.76%0.48%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1879
Vanguard U.S. Minimum Volatility ETF ETF Shares
VFMV
โ‚ฌ0.27 B111,71ย โ‚ฌ0.05%0.13%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1880
Invesco Pharmaceuticals ETF
PJP
โ‚ฌ0.27 B91,51ย โ‚ฌ0.21%0.56%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1881
BNP Paribas Easy EUR Corp Bond SRI Fossil Free UCITS ETF
ASRT.DE
โ‚ฌ0.27 B9,40ย โ‚ฌ0.15%0.15%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1882
iShares 25+ Year Treasury STRIPS Bond ETF
GOVZ
โ‚ฌ0.27 B7,95ย โ‚ฌ0.74%0.10%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1883
Invesco S&P International Developed Low Volatility ETF
IDLV
โ‚ฌ0.27 B28,92ย โ‚ฌ0.14%0.25%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1884
iShares MSCI World SRI UCITS ETF EUR Hedged (Dist)
UEEA.DE
โ‚ฌ0.27 B7,69ย โ‚ฌ0.08%0.23%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1885
Amundi ETF MSCI EMU High Dividend UCITS ETF
18M2.DE
โ‚ฌ0.27 B187,45ย โ‚ฌ0.05%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1886
BNP Paribas Easy Bloomberg Europe Defense UCITS ETF
BJL8.DE
โ‚ฌ0.27 B10,63ย โ‚ฌ0.11%0.18%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1887
WisdomTree Cybersecurity UCITS ETF USD Acc
W1TB.DE
โ‚ฌ0.27 B23,75ย โ‚ฌ1.86%0.45%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1888
Nuveen ESG Emerging Markets Equity ETF
NUEM
โ‚ฌ0.27 B30,32ย โ‚ฌ0.11%0.36%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1889
Xtrackers MSCI Europe Health Care Screened UCITS ETF 1C
DXSE.DE
โ‚ฌ0.27 B224,84ย โ‚ฌ1.28%0.17%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1890
Franklin Sustainable Euro Green Bond UCITS ETF
FLRG.DE
โ‚ฌ0.27 B23,85ย โ‚ฌ0.45%N/A๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1891
iShares Copper Miners UCITS ETF
CEBS.DE
โ‚ฌ0.26 B7,84ย โ‚ฌ1.28%0.55%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1892
iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc)
ESIC.DE
โ‚ฌ0.26 B6,59ย โ‚ฌ0.17%0.18%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1893
Amundi MSCI Europe Quality Factor UCITS ETF - EUR (C)
AMEQ.DE
โ‚ฌ0.26 B115,49ย โ‚ฌ0.61%0.23%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1894
Invesco S&P 500 High Dividend Low Volatility UCITS ETF
HDLV.DE
โ‚ฌ0.26 B30,28ย โ‚ฌ0.48%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1895
Invesco Global Enhanced Equity UCITS ETF Acc
IQGA.DE
โ‚ฌ0.26 B5,05ย โ‚ฌ0.16%0.24%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1896
iShares Euro Total Market Growth Large UCITS ETF EUR (Dist)
IQQG.DE
โ‚ฌ0.26 B64,27ย โ‚ฌ0.25%0.40%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1897
iShares World Equity Factor Rotation Active UCITS ETF USD (Acc)
FCRN.DE
โ‚ฌ0.26 B5,15ย โ‚ฌ0.27%0.30%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1898
Ishares Ai Adopters and Applications Ucits Etf
AIAA.DE
โ‚ฌ0.26 B4,98ย โ‚ฌ0.02%0.35%๐Ÿ‡ช๐Ÿ‡บ EU
favorite icon1899
Global X Blockchain ETF
BKCH
โ‚ฌ0.26 B57,66ย โ‚ฌ3.73%0.50%๐Ÿ‡บ๐Ÿ‡ธ US
favorite icon1900
Amundi MSCI Europe High Dividend Factor UCITS ETF - EUR (C)
EHF1.DE
โ‚ฌ0.26 B217,20ย โ‚ฌ0.25%0.23%๐Ÿ‡ช๐Ÿ‡บ EU

This is the list of the largest ETFs ranked by marketcap

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

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