Using wideband (0.5–6.5 eV) spectroscopic ellipsometry, we study ultrathin [Bi(0.6–2.5 nm)–FeNi(0.8,1.2 nm)]N multilayer films grown by rf sputtering deposition, where the FeNi layer has a nanoisland structure and its morphology magnetic properties change with decreasing nominal thickness. From model simulations of ellipsometric angles, Ψ(ω) Δ(ω), complex (pseudo)dielectric function spectra Bi ...