AAXJ vs KWEB: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
KWEBKraneShares CSI China Internet ETF
KraneShares · 31 holdings · $5.7B · as of 2026-03-31
Holdings snapshots are 30 days apart (AAXJ: 2026-04-30, KWEB: 2026-03-31). 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 KWEB?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; KraneShares CSI China Internet ETF (KWEB, by KraneShares) holds 31. They have 21 holdings in common, and by portfolio weight the two funds are 9.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 9.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21AAXJ holds 916 · KWEB holds 31
- Weight in Shared Holdings
- AAXJ 10%·KWEB 88%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
895 of 916 positions (90.1% of the fund) are not held by KWEB. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | KWEB |
|---|---|---|
| Information Technology | 39.6% | 0.0% |
| Consumer Discretionary | 8.1% | 39.5% |
| Communication Services | 6.4% | 29.3% |
| Financials | 13.9% | 0.0% |
| Real Estate | 1.2% | 4.3% |
| Other Sectors | 10.5% | 7.6% |
| Unclassified | 20.0% | 19.2% |
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, 19% of KWEB).
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% |
| KWEB | +12.3% | -15.8% | -15.2% | +2.0% | -6.7% | +0.1% | 7.31% |
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 KWEB →
Shared Holdings(21)
The top 10 shared positions account for 96% of the overlap, led by 700, 9988 and PDD.
 700Tencent Holdings Ltd. | 3.70% | 10.09% | 3.70% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.70% | 8.93% | 2.70% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.67% | 8.78% | 0.67% |
 3690Meituan, B Shares | 0.51% | 7.36% | 0.51% |
 9999NetEase Inc | 0.39% | 5.91% | 0.39% |
 9618JD.com Inc | 0.35% | 4.91% | 0.35% |
 9888Baidu, Inc., A Shares | 0.33% | 4.28% | 0.33% |
 9961Trip.com Group Ltd | 0.32% | 3.56% | 0.32% |
 1024Kuaishou Technology | 0.14% | 3.33% | 0.14% |
 2423KE Holdings Inc | 0.11% | 4.34% | 0.11% |
 6618JD Health International Inc | 0.07% | 4.01% | 0.07% |
 9626Bilibili Inc., Z Shares | 0.05% | 3.17% | 0.05% |
 TMETencent Music Entertainment Group SPON ADS | 0.05% | 2.50% | 0.05% |
 BZKanzhun Ltd | 0.05% | 2.86% | 0.05% |
 TALTAL Education Group | 0.04% | 3.24% | 0.04% |
 VIPSVipshop Holdings Ltd | 0.04% | 2.70% | 0.04% |
 241Alibaba Health Information Technology Ltd | 0.03% | 2.23% | 0.03% |
 3888Kingsoft Corp. Ltd. | 0.03% | 1.82% | 0.03% |
 780Tongcheng Travel Holdings Ltd | 0.03% | 1.90% | 0.03% |
 9899NetEase Cloud Music Inc | 0.01% | 1.06% | 0.01% |
 C2XChina Literature Ltd. | 0.01% | 0.98% | 0.01% |
Frequently Asked Questions
How much do AAXJ and KWEB overlap?
AAXJ and KWEB overlap by 9.6% of portfolio weight. They share 21 holdings (AAXJ holds 916 positions and KWEB holds 31), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and KWEB?
The two portfolios are 9.6% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of AAXJ and KWEB?
The largest positions held by both funds are 700, 9988, PDD, 3690 and 9999. Together the top 10 shared positions account for 96% of the total overlap.
What does AAXJ own that KWEB doesn't?
895 positions (90.1% of AAXJ) are unique to AAXJ, led by TSMWF, 005930 and 000660. In the other direction, 10 positions (11.9% of KWEB) are unique to KWEB.