AAXJ vs FNDE: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · as of 2026-05-31
Holdings snapshots are 31 days apart (AAXJ: 2026-04-30, FNDE: 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 FNDE?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370. They have 211 holdings in common, and by portfolio weight the two funds are 35.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 35.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 211AAXJ holds 916 · FNDE holds 370
- Weight in Shared Holdings
- AAXJ 51%·FNDE 65%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
705 of 916 positions (48.4% of the fund) are not held by FNDE. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | FNDE |
|---|---|---|
| Information Technology | 39.6% | 20.6% |
| Financials | 13.9% | 18.1% |
| Energy | 1.9% | 10.8% |
| Consumer Discretionary | 8.1% | 5.3% |
| Materials | 1.5% | 6.7% |
| Other Sectors | 14.6% | 11.0% |
| Unclassified | 20.0% | 27.1% |
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, 27% of FNDE).
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% |
| FNDE | +5.7% | +16.1% | +27.2% | +20.3% | +10.8% | +10.0% | 3.57% |
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 FNDE →
Shared Holdings(211)
The top 10 shared positions account for 47% of the overlap, led by TSMWF, 9988 and 700.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 16.28% | 6.48% | 6.48% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.70% | 2.72% | 2.70% |
 700Tencent Holdings Ltd. | 3.70% | 1.51% | 1.51% |
 2454MediaTek Inc | 1.21% | 1.80% | 1.21% |
 C6TChina Construction Bank Corp | 1.03% | 2.38% | 1.03% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.85% | 3.31% | 0.85% |
 RELIANCEReliance Industries Ltd | 0.88% | 0.80% | 0.80% |
 2308Delta Electronics Inc | 1.30% | 0.77% | 0.77% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.55% | 1.28% | 0.55% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.51% | 1.11% | 0.51% |
 3711ASE Technology Holding Co Ltd | 0.50% | 1.20% | 0.50% |
 HDFCBHDFC Bank Ltd | 0.88% | 0.44% | 0.44% |
 W8VBank of China Ltd | 0.43% | 1.19% | 0.43% |
 ICICIBCICICI Bank Ltd | 0.67% | 0.42% | 0.42% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.67% | 0.40% | 0.40% |
 INFOInfosys Ltd | 0.39% | 0.45% | 0.39% |
 3037Unimicron Technology Corp | 0.35% | 0.59% | 0.35% |
 9888Baidu, Inc., A Shares | 0.33% | 0.60% | 0.33% |
 9999NetEase Inc | 0.39% | 0.31% | 0.31% |
 PC6PetroChina Co Ltd | 0.30% | 1.25% | 0.30% |
 1810Xiaomi Corp | 0.62% | 0.30% | 0.30% |
 LTLarsen & Toubro Ltd | 0.27% | 0.28% | 0.27% |
 2303United Microelectronics Corp | 0.27% | 1.15% | 0.27% |
 AXSBAxis Bank Ltd | 0.29% | 0.27% | 0.27% |
 2382Quanta Computer Inc | 0.26% | 0.35% | 0.26% |
Frequently Asked Questions
How much do AAXJ and FNDE overlap?
AAXJ and FNDE overlap by 35.3% of portfolio weight. They share 211 holdings (AAXJ holds 916 positions and FNDE holds 370), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and FNDE?
The two portfolios are 35.3% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of AAXJ and FNDE?
The largest positions held by both funds are TSMWF, 9988, 700, 2454 and C6T. Together the top 10 shared positions account for 47% of the total overlap.
What does AAXJ own that FNDE doesn't?
705 positions (48.4% of AAXJ) are unique to AAXJ, led by 005930, 000660 and 1299. In the other direction, 159 positions (34.5% of FNDE) are unique to FNDE.