DFAE vs VWO: Holdings Overlap
DFAEDimensional Emerging Core Equity Market ETF
Dimensional · 6342 holdings · $9.5B · as of 2026-04-30
VWOVanguard Emerging Markets Stock Index Fund
Vanguard · 5015 holdings · $124.9B · as of 2026-04-30
How similar are DFAE and VWO?
Dimensional Emerging Core Equity Market ETF (DFAE, by Dimensional) holds 6342 positions; Vanguard Emerging Markets Stock Index Fund (VWO, by Vanguard) holds 5015. They have 3600 holdings in common, and by portfolio weight the two funds are 68.9% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 68.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 3600DFAE holds 6342 · VWO holds 5015
- Weight in Shared Holdings
- DFAE 73%·VWO 89%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 DFAE
2742 of 6342 positions (26.8% of the fund) are not held by VWO. Showing the top 30 by weight.
Sector Breakdown
| Sector | DFAE | VWO |
|---|---|---|
| Information Technology | 28.8% | 23.7% |
| Financials | 10.5% | 12.6% |
| Consumer Discretionary | 5.6% | 7.0% |
| Communication Services | 4.7% | 5.7% |
| Materials | 3.0% | 3.4% |
| Other Sectors | 8.6% | 9.5% |
| Unclassified | 39.1% | 37.4% |
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 (39% of DFAE, 38% of VWO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAE | +0.3% | +20.0% | +33.0% | +20.1% | +9.2% | — | 1.80% |
| VWO | +2.7% | +12.6% | +22.3% | +16.6% | +6.6% | +7.9% | 2.29% |
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 DFAE vs VWO →
Shared Holdings(3600)
The top 10 shared positions account for 30% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 12.22% | 14.61% | 12.22% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 2.65% | 3.26% | 2.65% |
 9988Alibaba Group Holding Ltd | 1.40% | 2.55% | 1.40% |
 2308Delta Electronics Inc | 0.90% | 1.17% | 0.90% |
 C6TChina Construction Bank Corp | 0.78% | 0.85% | 0.78% |
 2454MediaTek Inc | 0.69% | 1.06% | 0.69% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.53% | 0.74% | 0.53% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.52% | 0.66% | 0.52% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.47% | 0.46% | 0.46% |
 RELIANCEReliance Industries Ltd | 0.45% | 0.90% | 0.45% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.44% | 0.62% | 0.44% |
 BHARTIBharti Airtel Ltd | 0.41% | 0.51% | 0.41% |
 1810Xiaomi Corp | 0.40% | 0.56% | 0.40% |
 PETR4Petroleo Brasileiro SA - Petrobras | 0.37% | 0.38% | 0.37% |
 RJHISARAl Rajhi Bank | 0.35% | 0.47% | 0.35% |
 HDFCBHDFC Bank Ltd | 0.34% | 0.80% | 0.34% |
 1211RUBBYD Co Ltd. 'H'CNY1 | 0.34% | 0.42% | 0.34% |
 W8VBank of China Ltd | 0.33% | 0.38% | 0.33% |
 3690Meituan, B Shares | 0.32% | 0.50% | 0.32% |
 3037Unimicron Technology Corp | 0.31% | 0.33% | 0.31% |
 2345Accton Technology Corp | 0.30% | 0.31% | 0.30% |
 AUAnglogold Ashanti PLC COM SHS | 0.29% | 0.40% | 0.29% |
 ARAMCSARSaudi Arabian Oil Co | 0.28% | 0.38% | 0.28% |
 9999NetEase Inc | 0.28% | 0.37% | 0.28% |
 PC6PetroChina Co Ltd | 0.32% | 0.28% | 0.28% |
Showing the top 250 of 3600 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAE and VWO overlap?
DFAE and VWO overlap by 68.9% of portfolio weight. They share 3600 holdings (DFAE holds 6342 positions and VWO holds 5015), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAE and VWO?
The two portfolios are 68.9% 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 DFAE and VWO?
The largest positions held by both funds are TSMWF, 700, 9988, 2308 and C6T. Together the top 10 shared positions account for 30% of the total overlap.
What does DFAE own that VWO doesn't?
2742 positions (26.8% of DFAE) are unique to DFAE, led by 005930, 000660 and SMSNRUB. In the other direction, 1415 positions (10.5% of VWO) are unique to VWO.