AAXJ vs SCHE: Holdings Overlap
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
SCHESchwab Emerging Markets Equity ETF
Schwab · 2180 holdings · $12.7B · as of 2026-05-31
Holdings snapshots are 31 days apart (AAXJ: 2026-04-30, SCHE: 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 SCHE?
iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916 positions; Schwab Emerging Markets Equity ETF (SCHE, by Schwab) holds 2180. They have 760 holdings in common, and by portfolio weight the two funds are 67.1% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 67.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 760AAXJ holds 916 · SCHE holds 2180
- Weight in Shared Holdings
- AAXJ 70%·SCHE 72%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
156 of 916 positions (29.3% of the fund) are not held by SCHE. Showing the top 30 by weight.
Sector Breakdown
| Sector | AAXJ | SCHE |
|---|---|---|
| Information Technology | 39.6% | 29.1% |
| Financials | 13.9% | 13.4% |
| Consumer Discretionary | 8.1% | 7.0% |
| Communication Services | 6.4% | 5.9% |
| Materials | 1.5% | 3.7% |
| Other Sectors | 10.1% | 9.7% |
| Unclassified | 20.0% | 30.8% |
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, 31% of SCHE).
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% |
| SCHE | +3.4% | +13.1% | +22.4% | +17.1% | +6.7% | +8.0% | 2.57% |
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 SCHE →
Shared Holdings(760)
The top 10 shared positions account for 43% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 16.28% | 17.06% | 16.28% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 3.70% | 3.15% | 3.15% |
 9988Alibaba Group Holding Ltd | 2.70% | 2.57% | 2.57% |
 2308Delta Electronics Inc | 1.30% | 1.40% | 1.30% |
 2454MediaTek Inc | 1.21% | 1.88% | 1.21% |
 C6TChina Construction Bank Corp | 1.03% | 0.88% | 0.88% |
 RELIANCEReliance Industries Ltd | 0.88% | 0.88% | 0.88% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.85% | 1.04% | 0.85% |
 HDFCBHDFC Bank Ltd | 0.88% | 0.83% | 0.83% |
 ICICIBCICICI Bank Ltd | 0.67% | 0.65% | 0.65% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.67% | 0.60% | 0.60% |
 1810Xiaomi Corp | 0.62% | 0.57% | 0.57% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.55% | 0.63% | 0.55% |
 3711ASE Technology Holding Co Ltd | 0.50% | 0.59% | 0.50% |
 BHARTIBharti Airtel Ltd | 0.48% | 0.54% | 0.48% |
 3690Meituan, B Shares | 0.51% | 0.46% | 0.46% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.51% | 0.46% | 0.46% |
 W8VBank of China Ltd | 0.43% | 0.42% | 0.42% |
 2383Elite Material Co Ltd | 0.42% | 0.44% | 0.42% |
 1211RUBBYD Co Ltd | 0.46% | 0.40% | 0.40% |
 9999NetEase Inc | 0.39% | 0.42% | 0.39% |
 INFOInfosys Ltd | 0.39% | 0.39% | 0.39% |
 2345Accton Technology Corp | 0.36% | 0.36% | 0.36% |
 3037Unimicron Technology Corp | 0.35% | 0.42% | 0.35% |
 9888Baidu, Inc., A Shares | 0.33% | 0.33% | 0.33% |
Showing the top 250 of 760 shared holdings by overlap weight.
Frequently Asked Questions
How much do AAXJ and SCHE overlap?
AAXJ and SCHE overlap by 67.1% of portfolio weight. They share 760 holdings (AAXJ holds 916 positions and SCHE holds 2180), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AAXJ and SCHE?
The two portfolios are 67.1% 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 SCHE?
The largest positions held by both funds are TSMWF, 700, 9988, 2308 and 2454. Together the top 10 shared positions account for 43% of the total overlap.
What does AAXJ own that SCHE doesn't?
156 positions (29.3% of AAXJ) are unique to AAXJ, led by 005930, 000660 and 1299. In the other direction, 1420 positions (27.4% of SCHE) are unique to SCHE.