AVEM vs GUNR: Holdings Overlap
AVEMAvantis Emerging Markets Equity ETF
Avantis · 3893 holdings · $25.8B · as of 2026-05-31
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
Holdings snapshots are 31 days apart (AVEM: 2026-05-31, GUNR: 2026-04-30). 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 AVEM and GUNR?
Avantis Emerging Markets Equity ETF (AVEM, by Avantis) holds 3893 positions; FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148. They have 33 holdings in common, and by portfolio weight the two funds are 1.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 33AVEM holds 3893 · GUNR holds 148
- Weight in Shared Holdings
- AVEM 2%·GUNR 9%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 AVEM
3860 of 3893 positions (98.3% of the fund) are not held by GUNR. Showing the top 30 by weight.
Sector Breakdown
| Sector | AVEM | GUNR |
|---|---|---|
| Materials | 3.7% | 43.0% |
| Information Technology | 33.8% | 0.0% |
| Energy | 2.7% | 32.2% |
| Financials | 10.7% | 0.0% |
| Consumer Staples | 0.8% | 8.4% |
| Other Sectors | 11.6% | 5.6% |
| Unclassified | 36.5% | 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 (37% of AVEM, 11% of GUNR).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| AVEM | -0.3% | +20.6% | +33.7% | +21.9% | +9.9% | — | 1.90% |
| 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 AVEM vs GUNR →
Shared Holdings(33)
The top 10 shared positions account for 89% of the overlap, led by PC6, ARAMCSAR and HNDL.
 PC6PetroChina Co. Ltd., Class H | 0.30% | 0.46% | 0.30% |
|---|---|---|---|
 ARAMCSARSaudi Arabian Oil Co. | 0.29% | 0.62% | 0.29% |
 HNDLHindalco Industries Ltd. | 0.23% | 0.30% | 0.23% |
 GMEXICOBGrupo Mexico SAB de CV, Series B | 0.20% | 0.76% | 0.20% |
 PKNOrlen SA PLN1.25 | 0.17% | 0.33% | 0.17% |
 CHUChina Petroleum & Chemical Corp., Class H | 0.16% | 0.24% | 0.16% |
 270Guangdong Investment Ltd. | 0.05% | 0.18% | 0.05% |
| Cia de Saneamento de Minas Gerais Copasa MG | 0.04% | 0.13% | 0.04% |
 MAADESARSaudi Arabian Mining Co. | 0.03% | 0.43% | 0.03% |
 SAFCOSARSABIC Agri-Nutrients Co. | 0.03% | 1.14% | 0.03% |
 UPLLUPL Ltd. | 0.02% | 0.58% | 0.02% |
 VALValterra Platinum Ltd. | 0.02% | 0.34% | 0.02% |
 KLBN11Klabin SA | 0.02% | 0.19% | 0.02% |
| Charoen Pokphand Foods PCL | 0.02% | 0.29% | 0.02% |
 CPINCharoen Pokphand Indonesia Tbk. PT | 0.02% | 0.29% | 0.02% |
 UPLUnited Plantations Bhd. | 0.02% | 0.29% | 0.02% |
| Manila Water Co., Inc. | 0.02% | 0.05% | 0.02% |
 PIPI Industries Ltd. | 0.01% | 0.46% | 0.01% |
| Cia De Sanena Do Parana | 0.01% | 0.13% | 0.01% |
 PEPPPB Group Bhd. | 0.01% | 0.29% | 0.01% |
 QLGQL Resources Bhd. | 0.01% | 0.33% | 0.01% |
 IQCDQARIndustries Qatar QSC | 0.01% | 1.45% | 0.01% |
| Aguas Andinas SA, Class A | 0.00% | 0.07% | 0.00% |
 371Beijing Enterprises Water Group Ltd. | 0.00% | 0.09% | 0.00% |
| PhosAgro PJSC | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
How much do AVEM and GUNR overlap?
AVEM and GUNR overlap by 1.7% of portfolio weight. They share 33 holdings (AVEM holds 3893 positions and GUNR holds 148), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AVEM and GUNR?
The two portfolios are 1.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of AVEM and GUNR?
The largest positions held by both funds are PC6, ARAMCSAR, HNDL, GMEXICOB and PKN. Together the top 10 shared positions account for 89% of the total overlap.
What does AVEM own that GUNR doesn't?
3860 positions (98.3% of AVEM) are unique to AVEM, led by 000660, TSM and SMSNRUB. In the other direction, 115 positions (90.3% of GUNR) are unique to GUNR.