DFEM vs GUNR: Holdings Overlap
DFEMDimensional Emerging Markets Core Equity 2 ETF
Dimensional · 6579 holdings · $9.0B · as of 2026-04-30
GUNRFlexShares Morningstar Global Upstream Natural Resources Index Fund
FlexShares · 148 holdings · $7.2B · as of 2026-04-30
How similar are DFEM and GUNR?
Dimensional Emerging Markets Core Equity 2 ETF (DFEM, by Dimensional) holds 6579 positions; FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR, by FlexShares) holds 148. They have 35 holdings in common, and by portfolio weight the two funds are 2.2% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 35DFEM holds 6579 · GUNR holds 148
- Weight in Shared Holdings
- DFEM 2%·GUNR 14%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
6544 of 6579 positions (98.0% of the fund) are not held by GUNR. 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% |
| 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 DFEM vs GUNR →
Shared Holdings(35)
The top 10 shared positions account for 83% of the overlap, led by PETR4, PC6 and ARAMCSAR.
 PETR4Petroleo Brasileiro SA - Petrobras (Preference) | 0.43% | 0.66% | 0.43% |
|---|---|---|---|
 PC6PetroChina Co. Ltd., Class H | 0.35% | 0.46% | 0.35% |
 ARAMCSARSaudi Arabian Oil Co. | 0.21% | 0.62% | 0.21% |
 PKNOrlen SA PLN1.25 | 0.17% | 0.33% | 0.17% |
 GMEXICOBGrupo Mexico SAB de CV, Series B | 0.16% | 0.76% | 0.16% |
 CHUChina Petroleum & Chemical Corp., Class H | 0.15% | 0.24% | 0.15% |
 HNDLHindalco Industries Ltd. | 0.14% | 0.30% | 0.14% |
 VALValterra Platinum Ltd. | 0.06% | 0.34% | 0.06% |
 MAADESARSaudi Arabian Mining Co. | 0.06% | 0.43% | 0.06% |
 SAFCOSARSABIC Agri-Nutrients Co. | 0.06% | 1.14% | 0.06% |
 KLBN11Klabin SA | 0.05% | 0.19% | 0.05% |
| Cia de Saneamento de Minas Gerais Copasa MG | 0.03% | 0.13% | 0.03% |
 SUZB3Suzano SA | 0.03% | 0.33% | 0.03% |
 UPLLUPL Ltd. | 0.03% | 0.58% | 0.03% |
| Cia De Saneamento do Parana Sanepar | 0.03% | 0.13% | 0.03% |
 371Beijing Enterprises Water Group Ltd. | 0.02% | 0.09% | 0.02% |
 002714Muyuan Foods Co. Ltd., Class A | 0.02% | 0.36% | 0.02% |
 SBSP3Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 0.02% | 1.01% | 0.02% |
 PIPI Industries Ltd. | 0.02% | 0.46% | 0.02% |
 PEPPPB Group Bhd. | 0.01% | 0.29% | 0.01% |
 CPINCharoen Pokphand Indonesia Tbk. PT | 0.01% | 0.29% | 0.01% |
 000792Qinghai Salt Lake Industry Co. Ltd., Class A | 0.01% | 0.31% | 0.01% |
| Aguas Andinas SA, Class A | 0.01% | 0.07% | 0.01% |
 UPLUnited Plantations Bhd. | 0.01% | 0.29% | 0.01% |
 QLGQL Resources Bhd. | 0.01% | 0.33% | 0.01% |
Frequently Asked Questions
How much do DFEM and GUNR overlap?
DFEM and GUNR overlap by 2.2% of portfolio weight. They share 35 holdings (DFEM holds 6579 positions and GUNR holds 148), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFEM and GUNR?
The two portfolios are 2.2% 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 GUNR?
The largest positions held by both funds are PETR4, PC6, ARAMCSAR, PKN and GMEXICOB. Together the top 10 shared positions account for 83% of the total overlap.
What does DFEM own that GUNR doesn't?
6544 positions (98.0% of DFEM) are unique to DFEM, led by TSMWF, 005930 and 000660. In the other direction, 113 positions (85.8% of GUNR) are unique to GUNR.