EMXC vs AAXJ: Holdings Overlap
EMXCiShares MSCI Emerging Markets ex China ETF
iShares · 663 holdings · $23.8B · as of 2026-05-31
AAXJiShares MSCI All Country Asia ex Japan ETF
iShares · 916 holdings · $3.8B · as of 2026-04-30
Holdings snapshots are 31 days apart (EMXC: 2026-05-31, AAXJ: 2026-04-30). 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 EMXC and AAXJ?
iShares MSCI Emerging Markets ex China ETF (EMXC, by iShares) holds 663 positions; iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916. They have 411 holdings in common, and by portfolio weight the two funds are 65.2% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 65.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 411EMXC holds 663 · AAXJ holds 916
- Weight in Shared Holdings
- EMXC 79%·AAXJ 66%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 EMXC
252 of 663 positions (20.8% of the fund) are not held by AAXJ. Showing the top 30 by weight.
Sector Breakdown
| Sector | EMXC | AAXJ |
|---|---|---|
| Information Technology | 49.6% | 39.6% |
| Financials | 12.0% | 13.9% |
| Consumer Discretionary | 3.2% | 8.1% |
| Communication Services | 2.2% | 6.4% |
| Materials | 3.6% | 1.5% |
| Other Sectors | 9.5% | 10.1% |
| Unclassified | 19.8% | 20.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (20% of EMXC, 20% of AAXJ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| EMXC | -2.1% | +31.1% | +51.2% | +24.8% | +11.5% | — | 2.03% |
| AAXJ | -0.6% | +22.4% | +35.6% | +20.9% | +7.3% | +8.9% | 1.36% |
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 EMXC vs AAXJ →
Shared Holdings(411)
The top 10 shared positions account for 53% of the overlap, led by TSMWF, 005930 and 000660.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 17.94% | 16.28% | 16.28% |
|---|---|---|---|
 005930Samsung Electronics Co Ltd | 9.75% | 6.78% | 6.78% |
 000660SK hynix Inc | 8.35% | 4.63% | 4.63% |
 2308Delta Electronics Inc | 1.47% | 1.30% | 1.30% |
 2454MediaTek Inc | 2.04% | 1.21% | 1.21% |
 HDFCBHDFC Bank Ltd | 0.87% | 0.88% | 0.87% |
 HNHAFHon Hai Precision Industry Co Ltd | 1.13% | 0.85% | 0.85% |
 005935Samsung Electronics Co Ltd | 1.07% | 0.84% | 0.84% |
 RELIANCEReliance Industries Ltd | 0.83% | 0.88% | 0.83% |
 ICICIBCICICI Bank Ltd | 0.68% | 0.67% | 0.67% |
 402340SK Square Co Ltd | 0.75% | 0.51% | 0.51% |
 3711ASE Technology Holding Co Ltd | 0.62% | 0.50% | 0.50% |
 BHARTIBharti Airtel Ltd | 0.49% | 0.48% | 0.48% |
 005380Hyundai Motor Co | 0.63% | 0.46% | 0.46% |
 2383Elite Material Co Ltd | 0.48% | 0.42% | 0.42% |
 INFOInfosys Ltd | 0.39% | 0.39% | 0.39% |
 105560KB Financial Group Inc | 0.36% | 0.38% | 0.36% |
 2345Accton Technology Corp | 0.38% | 0.36% | 0.36% |
 3037Unimicron Technology Corp | 0.43% | 0.35% | 0.35% |
 009150Samsung Electro-Mechanics Co Ltd | 0.78% | 0.31% | 0.31% |
 034020Doosan Enerbility Co Ltd | 0.31% | 0.37% | 0.31% |
 MMMahindra & Mahindra Ltd | 0.29% | 0.29% | 0.29% |
 DELTA-RDelta Electronics Thailand PCL | 0.33% | 0.29% | 0.29% |
 AXSBAxis Bank Ltd | 0.30% | 0.29% | 0.29% |
 AVMPFAsia Vital Components Co Ltd | 0.27% | 0.29% | 0.27% |
Showing the top 250 of 411 shared holdings by overlap weight.
Frequently Asked Questions
How much do EMXC and AAXJ overlap?
EMXC and AAXJ overlap by 65.2% of portfolio weight. They share 411 holdings (EMXC holds 663 positions and AAXJ holds 916), based on each fund's latest SEC-reported holdings.
Is it redundant to own both EMXC and AAXJ?
The two portfolios are 65.2% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of EMXC and AAXJ?
The largest positions held by both funds are TSMWF, 005930, 000660, 2308 and 2454. Together the top 10 shared positions account for 53% of the total overlap.
What does EMXC own that AAXJ doesn't?
252 positions (20.8% of EMXC) are unique to EMXC, led by VALE3, RJHISAR and AU. In the other direction, 505 positions (33.4% of AAXJ) are unique to AAXJ.