FNDE vs SPEM: Holdings Overlap
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · as of 2026-05-31
SPEMState Street® SPDR® Portfolio Emerging Markets ETF
State Street (SPDR) · 2776 holdings · $17.4B · as of 2026-08-06
Holdings snapshots are 67 days apart (FNDE: 2026-05-31, 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 FNDE and SPEM?
Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370 positions; State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776. They have 269 holdings in common, and by portfolio weight the two funds are 41.8% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 41.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 269FNDE holds 370 · SPEM holds 2776
- Weight in Shared Holdings
- FNDE 77%·SPEM 56%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
101 of 370 positions (22.9% of the fund) are not held by SPEM. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDE | SPEM |
|---|---|---|
| Information Technology | 20.6% | 25.3% |
| Financials | 18.1% | 15.1% |
| Energy | 10.8% | 2.9% |
| Consumer Discretionary | 5.3% | 7.0% |
| Materials | 6.7% | 3.8% |
| Other Sectors | 11.0% | 11.2% |
| Unclassified | 27.1% | 43.5% |
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, 40% of SPEM).
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% |
| 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 FNDE vs SPEM →
Shared Holdings(269)
The top 10 shared positions account for 39% of the overlap, led by TSMWF, 9988 and 2454.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 6.48% | 14.02% | 6.48% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.72% | 2.36% | 2.36% |
 2454MediaTek Inc | 1.80% | 1.64% | 1.64% |
 700Tencent Holdings Ltd. | 1.51% | 3.01% | 1.51% |
 HNHAFHon Hai Precision Industry Co Ltd | 3.31% | 0.96% | 0.96% |
 C6TChina Construction Bank Corp | 2.38% | 0.88% | 0.88% |
 2308Delta Electronics Inc | 0.77% | 0.95% | 0.77% |
 3711ASE Technology Holding Co Ltd | 1.20% | 0.70% | 0.70% |
 ICKIndustrial & Commercial Bank of China Ltd | 1.28% | 0.55% | 0.55% |
 3037Unimicron Technology Corp | 0.59% | 0.44% | 0.44% |
 HDFCBHDFC Bank Ltd | 0.44% | 0.75% | 0.44% |
 W8VBank of China Ltd | 1.19% | 0.43% | 0.43% |
 2891CTBC Financial Holding Co Ltd | 0.41% | 0.50% | 0.41% |
 2318RUBPing An Insurance Group Co of China Ltd | 1.11% | 0.40% | 0.40% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.40% | 0.54% | 0.40% |
 1303Nan Ya Plastics Corp | 0.49% | 0.38% | 0.38% |
 GMEXICOBGrupo Mexico SAB de CV | 0.66% | 0.37% | 0.37% |
 FUISFFubon Financial Holding Co Ltd | 0.34% | 0.39% | 0.34% |
 9999NetEase Inc | 0.31% | 0.41% | 0.31% |
 1810Xiaomi Corp | 0.30% | 0.47% | 0.30% |
 ARAMCSARSaudi Arabian Oil Co | 0.74% | 0.28% | 0.28% |
 AXSBAxis Bank Ltd | 0.27% | 0.30% | 0.27% |
 9888Baidu, Inc., A Shares | 0.60% | 0.27% | 0.27% |
 2882Cathay Financial Holding Co Ltd | 0.26% | 0.31% | 0.26% |
 FSRFirstRand Ltd | 0.43% | 0.26% | 0.26% |
Showing the top 250 of 269 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDE and SPEM overlap?
FNDE and SPEM overlap by 41.8% of portfolio weight. They share 269 holdings (FNDE holds 370 positions and SPEM holds 2776), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDE and SPEM?
The two portfolios are 41.8% 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 SPEM?
The largest positions held by both funds are TSMWF, 9988, 2454, 700 and HNHAF. Together the top 10 shared positions account for 39% of the total overlap.
What does FNDE own that SPEM doesn't?
101 positions (22.9% of FNDE) are unique to FNDE, led by VALE3, PETR4 and PETR3. In the other direction, 2507 positions (53.2% of SPEM) are unique to SPEM.