DFEM vs FNDE: Holdings Overlap
DFEMDimensional Emerging Markets Core Equity 2 ETF
Dimensional · 6579 holdings · $9.0B · as of 2026-04-30
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · as of 2026-05-31
Holdings snapshots are 31 days apart (DFEM: 2026-04-30, FNDE: 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 FNDE?
Dimensional Emerging Markets Core Equity 2 ETF (DFEM, by Dimensional) holds 6579 positions; Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370. They have 276 holdings in common, and by portfolio weight the two funds are 31.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 31.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 276DFEM holds 6579 · FNDE holds 370
- Weight in Shared Holdings
- DFEM 36%·FNDE 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 DFEM
6303 of 6579 positions (64.3% of the fund) are not held by FNDE. Showing the top 30 by weight.
Only in FNDE
94 of 370 positions (10.9% of the fund) are not held by DFEM. 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% |
| FNDE | +5.7% | +16.1% | +27.2% | +20.3% | +10.8% | +10.0% | 3.57% |
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 DFEM vs FNDE →
Shared Holdings(276)
The top 10 shared positions account for 40% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 9.23% | 6.48% | 6.48% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 1.95% | 1.51% | 1.51% |
 9988Alibaba Group Holding Ltd | 0.95% | 2.72% | 0.95% |
 C6TChina Construction Bank Corp | 0.75% | 2.38% | 0.75% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.54% | 1.11% | 0.54% |
 2308Delta Electronics Inc | 0.51% | 0.77% | 0.51% |
 3037Unimicron Technology Corp | 0.47% | 0.59% | 0.47% |
 PETR4Petroleo Brasileiro SA - Petrobras | 0.43% | 2.48% | 0.43% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.40% | 3.31% | 0.40% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.51% | 0.40% | 0.40% |
 PC6PetroChina Co Ltd | 0.35% | 1.25% | 0.35% |
 2454MediaTek Inc | 0.32% | 1.80% | 0.32% |
 3711ASE Technology Holding Co Ltd | 0.32% | 1.20% | 0.32% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.31% | 1.28% | 0.31% |
 W8VBank of China Ltd | 0.28% | 1.19% | 0.28% |
 BHARTIBharti Airtel Ltd | 0.35% | 0.25% | 0.25% |
 1810Xiaomi Corp | 0.24% | 0.30% | 0.24% |
 3690Meituan, B Shares | 0.29% | 0.24% | 0.24% |
 2891CTBC Financial Holding Co Ltd | 0.23% | 0.41% | 0.23% |
 RELIANCEReliance Industries Ltd | 0.22% | 0.80% | 0.22% |
 YUMCYum China Holdings Inc | 0.22% | 0.23% | 0.22% |
 1211RUBBYD Co Ltd | 0.23% | 0.22% | 0.22% |
 ARAMCSARSaudi Arabian Oil Co | 0.21% | 0.74% | 0.21% |
 AXSBAxis Bank Ltd | 0.21% | 0.27% | 0.21% |
 175Geely Automobile Holdings Ltd | 0.20% | 0.22% | 0.20% |
Showing the top 250 of 276 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFEM and FNDE overlap?
DFEM and FNDE overlap by 31.3% of portfolio weight. They share 276 holdings (DFEM holds 6579 positions and FNDE holds 370), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFEM and FNDE?
The two portfolios are 31.3% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of DFEM and FNDE?
The largest positions held by both funds are TSMWF, 700, 9988, C6T and 2318RUB. Together the top 10 shared positions account for 40% of the total overlap.
What does DFEM own that FNDE doesn't?
6303 positions (64.3% of DFEM) are unique to DFEM, led by 005930, 000660 and 6223. In the other direction, 94 positions (10.9% of FNDE) are unique to FNDE.