AAXJ vs MCHI: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
iShares · 580 holdings · $6.3B · as of 2026-05-31
Holdings snapshots are 31 days apart (AAXJ: 2026-04-30, MCHI: 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 MCHI?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; iShares MSCI China ETF (MCHI, by iShares) holds 580. They have 458 holdings in common, and by portfolio weight the two funds are 25.9% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 25.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 458AAXJ holds 916 · MCHI holds 580
- Weight in Shared Holdings
- AAXJ 26%·MCHI 97%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
458 of 916 positions (73.8% of the fund) are not held by MCHI. Showing the top 30 by weight.
Only in MCHI
122 of 580 positions (2.6% of the fund) are not held by AAXJ. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | MCHI |
|---|---|---|
| Information Technology | 39.6% | 7.8% |
| Consumer Discretionary | 8.1% | 21.1% |
| Communication Services | 6.4% | 17.2% |
| Financials | 13.9% | 14.8% |
| Industrials | 3.5% | 1.6% |
| Other Sectors | 8.1% | 8.5% |
| Unclassified | 20.0% | 28.5% |
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, 29% of MCHI).
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% |
| MCHI | +9.3% | -5.2% | -1.0% | +8.7% | -2.2% | +4.3% | 1.94% |
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 MCHI →
Shared Holdings(458)
The top 10 shared positions account for 43% of the overlap, led by 700, 9988 and C6T.
 700Tencent Holdings Ltd. | 3.70% | 13.21% | 3.70% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.70% | 10.14% | 2.70% |
 C6TChina Construction Bank Corp | 1.03% | 3.97% | 1.03% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.67% | 2.28% | 0.67% |
 1810Xiaomi Corp | 0.62% | 2.35% | 0.62% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.55% | 2.10% | 0.55% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.51% | 1.96% | 0.51% |
 3690Meituan, B Shares | 0.51% | 1.84% | 0.51% |
 1211RUBBYD Co Ltd | 0.46% | 1.63% | 0.46% |
 W8VBank of China Ltd | 0.43% | 1.80% | 0.43% |
 9999NetEase Inc | 0.39% | 1.63% | 0.39% |
 9618JD.com Inc | 0.35% | 1.31% | 0.35% |
 9888Baidu, Inc., A Shares | 0.33% | 1.44% | 0.33% |
 9961Trip.com Group Ltd | 0.32% | 1.11% | 0.32% |
 PC6PetroChina Co Ltd | 0.30% | 1.12% | 0.30% |
 CHLChina Life Insurance Co Ltd | 0.26% | 1.05% | 0.26% |
 FJZZijin Mining Group Co Ltd | 0.26% | 0.97% | 0.26% |
 M4BChina Merchants Bank Co Ltd | 0.23% | 0.90% | 0.23% |
 EK7Agricultural Bank of China Ltd | 0.21% | 0.77% | 0.21% |
 IKFChina Shenhua Energy Co Ltd | 0.20% | 0.74% | 0.20% |
 IJ0BeOne Medicines Ltd | 0.19% | 0.74% | 0.19% |
 175Geely Automobile Holdings Ltd | 0.18% | 0.60% | 0.18% |
 300750Contemporary Amperex Technology Co Ltd | 0.17% | 0.64% | 0.17% |
 YUMCYum China Holdings Inc | 0.17% | 0.59% | 0.17% |
 1801Innovent Biologics Inc | 0.16% | 0.60% | 0.16% |
Showing the top 250 of 458 shared holdings by overlap weight.
Frequently Asked Questions
How much do AAXJ and MCHI overlap?
AAXJ and MCHI overlap by 25.9% of portfolio weight. They share 458 holdings (AAXJ holds 916 positions and MCHI holds 580), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and MCHI?
The two portfolios are 25.9% 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 MCHI?
The largest positions held by both funds are 700, 9988, C6T, PDD and 1810. Together the top 10 shared positions account for 43% of the total overlap.
What does AAXJ own that MCHI doesn't?
458 positions (73.8% of AAXJ) are unique to AAXJ, led by TSMWF, 005930 and 000660. In the other direction, 122 positions (2.6% of MCHI) are unique to MCHI.