FNDE vs AAXJ: Holdings Overlap
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · 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 (FNDE: 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 FNDE and AAXJ?
Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370 positions; iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916. They have 211 holdings in common, and by portfolio weight the two funds are 35.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 35.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 211FNDE holds 370 · AAXJ holds 916
- Weight in Shared Holdings
- FNDE 65%·AAXJ 51%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 FNDE
159 of 370 positions (34.5% of the fund) are not held by AAXJ. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDE | AAXJ |
|---|---|---|
| Information Technology | 20.6% | 39.6% |
| Financials | 18.1% | 13.9% |
| Energy | 10.8% | 1.9% |
| Consumer Discretionary | 5.3% | 8.1% |
| Materials | 6.7% | 1.5% |
| Other Sectors | 11.0% | 14.6% |
| Unclassified | 27.1% | 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 (27% of FNDE, 20% of AAXJ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FNDE | +5.7% | +16.1% | +27.2% | +20.3% | +10.8% | +10.0% | 3.57% |
| 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 FNDE vs AAXJ →
Shared Holdings(211)
The top 10 shared positions account for 47% of the overlap, led by TSMWF, 9988 and 700.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 6.48% | 16.28% | 6.48% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.72% | 2.70% | 2.70% |
 700Tencent Holdings Ltd. | 1.51% | 3.70% | 1.51% |
 2454MediaTek Inc | 1.80% | 1.21% | 1.21% |
 C6TChina Construction Bank Corp | 2.38% | 1.03% | 1.03% |
 HNHAFHon Hai Precision Industry Co Ltd | 3.31% | 0.85% | 0.85% |
 RELIANCEReliance Industries Ltd | 0.80% | 0.88% | 0.80% |
 2308Delta Electronics Inc | 0.77% | 1.30% | 0.77% |
 ICKIndustrial & Commercial Bank of China Ltd | 1.28% | 0.55% | 0.55% |
 2318RUBPing An Insurance Group Co of China Ltd | 1.11% | 0.51% | 0.51% |
 3711ASE Technology Holding Co Ltd | 1.20% | 0.50% | 0.50% |
 HDFCBHDFC Bank Ltd | 0.44% | 0.88% | 0.44% |
 W8VBank of China Ltd | 1.19% | 0.43% | 0.43% |
 ICICIBCICICI Bank Ltd | 0.42% | 0.67% | 0.42% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.40% | 0.67% | 0.40% |
 INFOInfosys Ltd | 0.45% | 0.39% | 0.39% |
 3037Unimicron Technology Corp | 0.59% | 0.35% | 0.35% |
 9888Baidu, Inc., A Shares | 0.60% | 0.33% | 0.33% |
 9999NetEase Inc | 0.31% | 0.39% | 0.31% |
 PC6PetroChina Co Ltd | 1.25% | 0.30% | 0.30% |
 1810Xiaomi Corp | 0.30% | 0.62% | 0.30% |
 LTLarsen & Toubro Ltd | 0.28% | 0.27% | 0.27% |
 2303United Microelectronics Corp | 1.15% | 0.27% | 0.27% |
 AXSBAxis Bank Ltd | 0.27% | 0.29% | 0.27% |
 2382Quanta Computer Inc | 0.35% | 0.26% | 0.26% |
Frequently Asked Questions
How much do FNDE and AAXJ overlap?
FNDE and AAXJ overlap by 35.3% of portfolio weight. They share 211 holdings (FNDE holds 370 positions and AAXJ holds 916), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDE and AAXJ?
The two portfolios are 35.3% 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 FNDE and AAXJ?
The largest positions held by both funds are TSMWF, 9988, 700, 2454 and C6T. Together the top 10 shared positions account for 47% of the total overlap.
What does FNDE own that AAXJ doesn't?
159 positions (34.5% of FNDE) are unique to FNDE, led by VALE3, PETR4 and PETR3. In the other direction, 705 positions (48.4% of AAXJ) are unique to AAXJ.