AAXJ vs EEM: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
EEMiShares MSCI Emerging Markets ETF
iShares · 1246 holdings · $30.2B · as of 2026-05-31
Holdings snapshots are 31 days apart (AAXJ: 2026-04-30, EEM: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are AAXJ and EEM?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; iShares MSCI Emerging Markets ETF (EEM, by iShares) holds 1246. They have 871 holdings in common, and by portfolio weight the two funds are 77.9% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 77.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 871AAXJ holds 916 · EEM holds 1246
- Weight in Shared Holdings
- AAXJ 92%·EEM 83%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in AAXJ
45 of 916 positions (7.4% of the fund) are not held by EEM. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | EEM |
|---|---|---|
| Information Technology | 39.6% | 41.0% |
| Financials | 13.9% | 12.6% |
| Consumer Discretionary | 8.1% | 6.8% |
| Communication Services | 6.4% | 5.3% |
| Industrials | 3.5% | 2.7% |
| Other Sectors | 8.1% | 9.9% |
| Unclassified | 20.0% | 21.6% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (20% of AAXJ, 22% of EEM).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| AAXJ | -0.6% | +22.4% | +35.6% | +20.9% | +7.3% | +8.9% | 1.36% |
| EEM | -0.1% | +20.6% | +35.3% | +20.3% | +7.3% | +8.4% | 1.70% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in AAXJ vs EEM →
Shared Holdings(871)
The top 10 shared positions account for 45% of the overlap, led by TSMWF, 005930 and 000660.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 16.28% | 14.26% | 14.26% |
|---|---|---|---|
 005930Samsung Electronics Co Ltd | 6.78% | 7.76% | 6.78% |
 000660SK hynix Inc | 4.63% | 6.64% | 4.63% |
 700Tencent Holdings Ltd. | 3.70% | 2.71% | 2.71% |
 9988Alibaba Group Holding Ltd | 2.70% | 2.08% | 2.08% |
 2454MediaTek Inc | 1.21% | 1.62% | 1.21% |
 2308Delta Electronics Inc | 1.30% | 1.17% | 1.17% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.85% | 0.90% | 0.85% |
 005935Samsung Electronics Co Ltd | 0.84% | 0.85% | 0.84% |
 C6TChina Construction Bank Corp | 1.03% | 0.81% | 0.81% |
 HDFCBHDFC Bank Ltd | 0.88% | 0.70% | 0.70% |
 RELIANCEReliance Industries Ltd | 0.88% | 0.66% | 0.66% |
 ICICIBCICICI Bank Ltd | 0.67% | 0.55% | 0.55% |
 402340SK Square Co Ltd | 0.51% | 0.60% | 0.51% |
 3711ASE Technology Holding Co Ltd | 0.50% | 0.50% | 0.50% |
 1810Xiaomi Corp | 0.62% | 0.48% | 0.48% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.67% | 0.47% | 0.47% |
 005380Hyundai Motor Co | 0.46% | 0.50% | 0.46% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.55% | 0.43% | 0.43% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.51% | 0.40% | 0.40% |
 2383Elite Material Co Ltd | 0.42% | 0.39% | 0.39% |
 BHARTIBharti Airtel Ltd | 0.48% | 0.39% | 0.39% |
 3690Meituan, B Shares | 0.51% | 0.38% | 0.38% |
 W8VBank of China Ltd | 0.43% | 0.37% | 0.37% |
 3037Unimicron Technology Corp | 0.35% | 0.35% | 0.35% |
Showing the top 250 of 871 shared holdings by overlap weight.
Frequently Asked Questions
How much do AAXJ and EEM overlap?
AAXJ and EEM overlap by 77.9% of portfolio weight. They share 871 holdings (AAXJ holds 916 positions and EEM holds 1246), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and EEM?
The two portfolios are 77.9% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of AAXJ and EEM?
The largest positions held by both funds are TSMWF, 005930, 000660, 700 and 9988. Together the top 10 shared positions account for 45% of the total overlap.
What does AAXJ own that EEM doesn't?
45 positions (7.4% of AAXJ) are unique to AAXJ, led by 1299, DBS and 388. In the other direction, 375 positions (17.1% of EEM) are unique to EEM.