DFEM vs SPEM: Holdings Overlap
DFEMDimensional Emerging Markets Core Equity 2 ETF
Dimensional · 6579 holdings · $9.0B · 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 (DFEM: 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 DFEM and SPEM?
Dimensional Emerging Markets Core Equity 2 ETF (DFEM, by Dimensional) holds 6579 positions; State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776. They have 1417 holdings in common, and by portfolio weight the two funds are 48.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 48.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1417DFEM holds 6579 · SPEM holds 2776
- Weight in Shared Holdings
- DFEM 58%·SPEM 91%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
5162 of 6579 positions (42.0% 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 |
|---|---|---|---|---|---|---|---|
| DFEM | +0.2% | +19.5% | +31.4% | +19.8% | — | — | 1.89% |
| 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 DFEM vs SPEM →
Shared Holdings(1417)
The top 10 shared positions account for 32% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 9.23% | 14.02% | 9.23% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 1.95% | 3.01% | 1.95% |
 9988Alibaba Group Holding Ltd | 0.95% | 2.36% | 0.95% |
 C6TChina Construction Bank Corp | 0.75% | 0.88% | 0.75% |
 2308Delta Electronics Inc | 0.51% | 0.95% | 0.51% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.51% | 0.54% | 0.51% |
 3037Unimicron Technology Corp | 0.47% | 0.44% | 0.44% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.40% | 0.96% | 0.40% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.54% | 0.40% | 0.40% |
 IBNICICI Bank Ltd | 0.40% | 0.74% | 0.40% |
 BHARTIBharti Airtel Ltd | 0.35% | 0.55% | 0.35% |
 VALEVale SA | 0.34% | 0.38% | 0.34% |
 2383Elite Material Co Ltd | 0.33% | 0.38% | 0.33% |
 2454MediaTek Inc | 0.32% | 1.64% | 0.32% |
 3711ASE Technology Holding Co Ltd | 0.32% | 0.70% | 0.32% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.31% | 0.55% | 0.31% |
 RJHISARAl Rajhi Bank | 0.29% | 0.44% | 0.29% |
 3690Meituan, B Shares | 0.29% | 0.48% | 0.29% |
 W8VBank of China Ltd | 0.28% | 0.43% | 0.28% |
 FJZZijin Mining Group Co Ltd | 0.27% | 0.32% | 0.27% |
 1810Xiaomi Corp | 0.24% | 0.47% | 0.24% |
 1211RUBBYD Co Ltd | 0.23% | 0.33% | 0.23% |
 2891CTBC Financial Holding Co Ltd | 0.23% | 0.50% | 0.23% |
 2345Accton Technology Corp | 0.23% | 0.26% | 0.23% |
 PC6PetroChina Co Ltd | 0.35% | 0.23% | 0.23% |
Showing the top 250 of 1417 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFEM and SPEM overlap?
DFEM and SPEM overlap by 48.5% of portfolio weight. They share 1417 holdings (DFEM holds 6579 positions and SPEM holds 2776), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFEM and SPEM?
The two portfolios are 48.5% 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 SPEM?
The largest positions held by both funds are TSMWF, 700, 9988, C6T and 2308. Together the top 10 shared positions account for 32% of the total overlap.
What does DFEM own that SPEM doesn't?
5162 positions (42.0% of DFEM) are unique to DFEM, led by 005930, 000660 and 005380. In the other direction, 1359 positions (18.1% of SPEM) are unique to SPEM.