FNDE vs IEMG: Holdings Overlap
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · as of 2026-05-31
IEMGiShares Core MSCI Emerging Markets ETF
iShares · 2697 holdings · $156.6B · as of 2026-05-31
How similar are FNDE and IEMG?
Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370 positions; iShares Core MSCI Emerging Markets ETF (IEMG, by iShares) holds 2697. They have 339 holdings in common, and by portfolio weight the two funds are 38.4% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 38.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 339FNDE holds 370 · IEMG holds 2697
- Weight in Shared Holdings
- FNDE 96%·IEMG 47%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
31 of 370 positions (3.2% of the fund) are not held by IEMG. Showing the top 30 by weight.
Only in IEMG
2358 of 2697 positions (52.6% of the fund) are not held by FNDE. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDE | IEMG |
|---|---|---|
| Information Technology | 20.6% | 36.2% |
| Financials | 18.1% | 11.0% |
| Energy | 10.8% | 2.3% |
| Materials | 6.7% | 2.9% |
| Consumer Discretionary | 5.3% | 6.0% |
| Other Sectors | 11.0% | 10.7% |
| Unclassified | 27.1% | 30.7% |
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, 31% of IEMG).
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% |
| IEMG | +0.3% | +19.9% | +33.4% | +20.1% | +7.8% | +9.0% | 2.25% |
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 IEMG →
Shared Holdings(339)
The top 10 shared positions account for 39% of the overlap, led by TSMWF, 9988 and 700.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 6.48% | 12.49% | 6.48% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.72% | 1.82% | 1.82% |
 700Tencent Holdings Ltd. | 1.51% | 2.37% | 1.51% |
 2454MediaTek Inc | 1.80% | 1.42% | 1.42% |
 HNHAFHon Hai Precision Industry Co Ltd | 3.31% | 0.79% | 0.79% |
 2308Delta Electronics Inc | 0.77% | 1.02% | 0.77% |
 C6TChina Construction Bank Corp | 2.38% | 0.71% | 0.71% |
 RELIANCEReliance Industries Ltd | 0.80% | 0.58% | 0.58% |
 HDFCBHDFC Bank Ltd | 0.44% | 0.61% | 0.44% |
 3711ASE Technology Holding Co Ltd | 1.20% | 0.44% | 0.44% |
 ICICIBCICICI Bank Ltd | 0.42% | 0.48% | 0.42% |
 VALE3Vale SA | 3.03% | 0.41% | 0.41% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.40% | 0.41% | 0.40% |
 ICKIndustrial & Commercial Bank of China Ltd | 1.28% | 0.38% | 0.38% |
 2318RUBPing An Insurance Group Co of China Ltd | 1.11% | 0.35% | 0.35% |
 2303United Microelectronics Corp | 1.15% | 0.35% | 0.35% |
 W8VBank of China Ltd | 1.19% | 0.32% | 0.32% |
 ARAMCSARSaudi Arabian Oil Co | 0.74% | 0.30% | 0.30% |
 3037Unimicron Technology Corp | 0.59% | 0.30% | 0.30% |
 1810Xiaomi Corp | 0.30% | 0.42% | 0.30% |
 ITUB4Itau Unibanco Holding SA | 0.68% | 0.29% | 0.29% |
 9999NetEase Inc | 0.31% | 0.29% | 0.29% |
 INFOInfosys Ltd | 0.45% | 0.27% | 0.27% |
 2327Yageo Corp | 0.44% | 0.26% | 0.26% |
 GMEXICOBGrupo Mexico SAB de CV | 0.66% | 0.26% | 0.26% |
Showing the top 250 of 339 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDE and IEMG overlap?
FNDE and IEMG overlap by 38.4% of portfolio weight. They share 339 holdings (FNDE holds 370 positions and IEMG holds 2697), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDE and IEMG?
The two portfolios are 38.4% 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 IEMG?
The largest positions held by both funds are TSMWF, 9988, 700, 2454 and HNHAF. Together the top 10 shared positions account for 39% of the total overlap.
What does FNDE own that IEMG doesn't?
31 positions (3.2% of FNDE) are unique to FNDE, led by JD, 2388 and EC. In the other direction, 2358 positions (52.6% of IEMG) are unique to IEMG.