DFAX vs SPEM: Holdings Overlap
DFAXDimensional World ex. U.S. Core Equity 2 ETF
Dimensional · 10527 holdings · $12.0B · as of 2026-04-30
SPEMState Street® SPDR® Portfolio Emerging Markets ETF
State Street (SPDR) · 2776 holdings · $17.4B · as of 2026-08-06
Holdings snapshots are 98 days apart (DFAX: 2026-04-30, SPEM: 2026-08-06). 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 DFAX and SPEM?
Dimensional World ex. U.S. Core Equity 2 ETF (DFAX, by Dimensional) holds 10527 positions; State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776. They have 1399 holdings in common, and by portfolio weight the two funds are 17.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 17.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1399DFAX holds 10527 · SPEM holds 2776
- Weight in Shared Holdings
- DFAX 18%·SPEM 90%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 DFAX
9128 of 10527 positions (81.3% of the fund) are not held by SPEM. Showing the top 30 by weight.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAX | +3.5% | +17.0% | +29.0% | +20.1% | — | — | 2.27% |
| SPEM | +2.8% | +13.1% | +22.8% | +17.3% | +7.2% | +8.6% | 2.48% |
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 DFAX vs SPEM →
Shared Holdings(1399)
The top 10 shared positions account for 19% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 1.45% | 14.02% | 1.45% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 0.50% | 3.01% | 0.50% |
 9988Alibaba Group Holding Ltd | 0.23% | 2.36% | 0.23% |
 3037Unimicron Technology Corp | 0.21% | 0.44% | 0.21% |
 C6TChina Construction Bank Corp | 0.19% | 0.88% | 0.19% |
 2454MediaTek Inc | 0.17% | 1.64% | 0.17% |
 AVMPFAsia Vital Components Co Ltd | 0.15% | 0.21% | 0.15% |
 3711ASE Technology Holding Co Ltd | 0.15% | 0.70% | 0.15% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.14% | 0.40% | 0.14% |
 2308Delta Electronics Inc | 0.11% | 0.95% | 0.11% |
 BHEBharat Electronics Ltd | 0.11% | 0.13% | 0.11% |
 2891CTBC Financial Holding Co Ltd | 0.10% | 0.50% | 0.10% |
 IBNICICI Bank Ltd | 0.10% | 0.74% | 0.10% |
 PC6PetroChina Co Ltd | 0.10% | 0.23% | 0.10% |
 YUMCYum China Holdings Inc | 0.10% | 0.17% | 0.10% |
 2345Accton Technology Corp | 0.09% | 0.26% | 0.09% |
 2368Gold Circuit Electronics Ltd | 0.09% | 0.11% | 0.09% |
 MTNMTN Group Ltd | 0.09% | 0.16% | 0.09% |
 175Geely Automobile Holdings Ltd | 0.09% | 0.10% | 0.09% |
 1810Xiaomi Corp | 0.09% | 0.47% | 0.09% |
 TATATata Steel Ltd | 0.09% | 0.14% | 0.09% |
 992Lenovo Group Ltd | 0.09% | 0.23% | 0.09% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.09% | 0.96% | 0.09% |
 EMAARAEDEmaar Properties PJSC | 0.08% | 0.16% | 0.08% |
 2383Elite Material Co Ltd | 0.08% | 0.38% | 0.08% |
Showing the top 250 of 1399 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAX and SPEM overlap?
DFAX and SPEM overlap by 17.4% of portfolio weight. They share 1399 holdings (DFAX holds 10527 positions and SPEM holds 2776), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAX and SPEM?
The two portfolios are 17.4% 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 DFAX and SPEM?
The largest positions held by both funds are TSMWF, 700, 9988, 3037 and C6T. Together the top 10 shared positions account for 19% of the total overlap.
What does DFAX own that SPEM doesn't?
9128 positions (81.3% of DFAX) are unique to DFAX, led by 005930, TSM and NVS. In the other direction, 1377 positions (18.4% of SPEM) are unique to SPEM.