AAXJ vs GUNR: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
How similar are AAXJ and GUNR?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148. They have 13 holdings in common, and by portfolio weight the two funds are 0.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 13AAXJ holds 916 · GUNR holds 148
- Weight in Shared Holdings
- AAXJ 1%·GUNR 4%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
903 of 916 positions (98.9% of the fund) are not held by GUNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | GUNR |
|---|---|---|
| Materials | 1.5% | 43.0% |
| Information Technology | 39.6% | 0.0% |
| Energy | 1.9% | 32.2% |
| Financials | 13.9% | 0.0% |
| Consumer Staples | 1.4% | 8.4% |
| Other Sectors | 21.4% | 5.6% |
| Unclassified | 20.0% | 10.6% |
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, 11% of GUNR).
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% |
| GUNR | +6.1% | +16.9% | +32.8% | +11.8% | +10.9% | +10.3% | 2.30% |
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 GUNR →
Shared Holdings(13)
The top 10 shared positions account for 95% of the overlap, led by PC6, HNDL and CHU.
 PC6PetroChina Co. Ltd., Class H | 0.30% | 0.46% | 0.30% |
|---|---|---|---|
 HNDLHindalco Industries Ltd. | 0.14% | 0.30% | 0.14% |
 CHUChina Petroleum & Chemical Corp., Class H | 0.13% | 0.24% | 0.13% |
 601899Zijin Mining Group Co. Ltd., Class A | 0.07% | 0.16% | 0.07% |
 UPLLUPL Ltd. | 0.03% | 0.58% | 0.03% |
 270Guangdong Investment Ltd. | 0.03% | 0.18% | 0.03% |
 PIPI Industries Ltd. | 0.02% | 0.46% | 0.02% |
| Charoen Pokphand Foods PCL | 0.02% | 0.29% | 0.02% |
 000792Qinghai Salt Lake Industry Co. Ltd., Class A | 0.02% | 0.31% | 0.02% |
 002714Muyuan Foods Co. Ltd., Class A | 0.02% | 0.36% | 0.02% |
 CPINCharoen Pokphand Indonesia Tbk. PT | 0.02% | 0.29% | 0.02% |
 QLGQL Resources Bhd. | 0.02% | 0.33% | 0.02% |
 000876New Hope Liuhe Co. Ltd., Class A | 0.00% | 0.06% | 0.00% |
Frequently Asked Questions
How much do AAXJ and GUNR overlap?
AAXJ and GUNR overlap by 0.8% of portfolio weight. They share 13 holdings (AAXJ holds 916 positions and GUNR holds 148), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and GUNR?
The two portfolios are 0.8% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of AAXJ and GUNR?
The largest positions held by both funds are PC6, HNDL, CHU, 601899 and UPLL. Together the top 10 shared positions account for 95% of the total overlap.
What does AAXJ own that GUNR doesn't?
903 positions (98.9% of AAXJ) are unique to AAXJ, led by TSMWF, 005930 and 000660. In the other direction, 135 positions (95.7% of GUNR) are unique to GUNR.