DFEM vs EWZ: Holdings Overlap
DFEMDimensional Emerging Markets Core Equity 2 ETF
Dimensional · 6579 holdings · $9.0B · as of 2026-04-30
iShares · 47 holdings · $9.2B · as of 2026-05-31
Holdings snapshots are 31 days apart (DFEM: 2026-04-30, EWZ: 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 DFEM and EWZ?
Dimensional Emerging Markets Core Equity 2 ETF (DFEM, by Dimensional) holds 6579 positions; iShares MSCI Brazil ETF (EWZ, by iShares) holds 47. They have 42 holdings in common, and by portfolio weight the two funds are 1.9% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 42DFEM holds 6579 · EWZ holds 47
- Weight in Shared Holdings
- DFEM 2%·EWZ 85%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 DFEM
6537 of 6579 positions (98.3% of the fund) are not held by EWZ. Showing the top 30 by weight.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFEM | +0.2% | +19.5% | +31.4% | +19.8% | — | — | 1.89% |
| EWZ | +2.0% | +12.3% | +31.6% | +9.6% | +6.8% | +5.7% | 4.14% |
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 DFEM vs EWZ →
Shared Holdings(42)
The top 10 shared positions account for 65% of the overlap, led by PETR4, PRIO3 and ITUB4.
 PETR4Petroleo Brasileiro SA - Petrobras | 0.43% | 7.28% | 0.43% |
|---|---|---|---|
 PRIO3PRIO SA/Brazil | 0.14% | 2.16% | 0.14% |
 ITUB4Itau Unibanco Holding SA | 0.12% | 8.48% | 0.12% |
 EMBJ3Embraer SA | 0.11% | 2.15% | 0.11% |
 VBBR3Vibra Energia SA | 0.11% | 1.40% | 0.11% |
 PETR3Petroleo Brasileiro SA - Petrobras | 0.09% | 6.70% | 0.09% |
 EQTL3Equatorial SA | 0.08% | 1.94% | 0.08% |
 UGPA3Ultrapar Participacoes SA | 0.05% | 0.87% | 0.05% |
 B3SA3B3 SA - Brasil Bolsa Balcao | 0.05% | 3.57% | 0.05% |
 KLBN11Klabin SA | 0.05% | 0.62% | 0.05% |
 WEGE3Weg SA COM NPV | 0.04% | 3.05% | 0.04% |
 AXIA3Axia Energia SA | 0.04% | 2.64% | 0.04% |
 RENT3Localiza Rent a Car SA | 0.04% | 1.65% | 0.04% |
 ENEV3Eneva SA | 0.04% | 0.60% | 0.04% |
 RADL3Raia Drogasil SA | 0.04% | 1.07% | 0.04% |
 SUZB3Suzano SA | 0.03% | 1.25% | 0.03% |
 TIMS3TIM SA/Brazil | 0.03% | 0.84% | 0.03% |
 MOTV3Motiva Infraestrutura de Mobilidade SA | 0.03% | 0.67% | 0.03% |
 CPLE3Cia Paranaense de Energia - Copel | 0.03% | 0.75% | 0.03% |
 BBSE3BB Seguridade Participacoes SA | 0.03% | 1.07% | 0.03% |
 BPAC11Banco BTG Pactual SA | 0.03% | 2.68% | 0.03% |
 ENGI11Energisa S/A | 0.03% | 0.69% | 0.03% |
 CMIG4Cia Energetica de Minas Gerais | 0.03% | 0.84% | 0.03% |
 BBAS3Banco do Brasil SA | 0.02% | 1.47% | 0.02% |
 PSSA3Porto Seguro SA | 0.02% | 0.37% | 0.02% |
Frequently Asked Questions
How much do DFEM and EWZ overlap?
DFEM and EWZ overlap by 1.9% of portfolio weight. They share 42 holdings (DFEM holds 6579 positions and EWZ holds 47), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFEM and EWZ?
The two portfolios are 1.9% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of DFEM and EWZ?
The largest positions held by both funds are PETR4, PRIO3, ITUB4, EMBJ3 and VBBR3. Together the top 10 shared positions account for 65% of the total overlap.
What does DFEM own that EWZ doesn't?
6537 positions (98.3% of DFEM) are unique to DFEM, led by TSMWF, 005930 and 000660. In the other direction, 5 positions (13.9% of EWZ) are unique to EWZ.