FNDE vs VWO: Holdings Overlap
FNDESchwab Fundamental Emerging Markets Equity ETF
Schwab · 370 holdings · $9.9B · as of 2026-05-31
VWOVanguard Emerging Markets Stock Index Fund
Vanguard · 5015 holdings · $124.9B · as of 2026-04-30
Holdings snapshots are 31 days apart (FNDE: 2026-05-31, VWO: 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 VWO?
Schwab Fundamental Emerging Markets Equity ETF (FNDE, by Schwab) holds 370 positions; Vanguard Emerging Markets Stock Index Fund (VWO, by Vanguard) holds 5015. They have 332 holdings in common, and by portfolio weight the two funds are 43.2% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 43.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 332FNDE holds 370 · VWO holds 5015
- Weight in Shared Holdings
- FNDE 95%·VWO 58%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
38 of 370 positions (5.1% of the fund) are not held by VWO. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDE | VWO |
|---|---|---|
| Information Technology | 20.6% | 23.7% |
| Financials | 18.1% | 12.6% |
| Energy | 10.8% | 3.1% |
| Consumer Discretionary | 5.3% | 7.0% |
| Materials | 6.7% | 3.4% |
| Other Sectors | 11.0% | 12.1% |
| Unclassified | 27.1% | 37.4% |
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, 38% of VWO).
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% |
| VWO | +2.7% | +12.6% | +22.3% | +16.6% | +6.6% | +7.9% | 2.29% |
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 VWO →
Shared Holdings(332)
The top 10 shared positions account for 37% of the overlap, led by TSMWF, 9988 and 700.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 6.48% | 14.61% | 6.48% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 2.72% | 2.55% | 2.55% |
 700Tencent Holdings Ltd. | 1.51% | 3.26% | 1.51% |
 2454MediaTek Inc | 1.80% | 1.06% | 1.06% |
 C6TChina Construction Bank Corp | 2.38% | 0.85% | 0.85% |
 RELIANCEReliance Industries Ltd | 0.80% | 0.90% | 0.80% |
 2308Delta Electronics Inc | 0.77% | 1.17% | 0.77% |
 HNHAFHon Hai Precision Industry Co Ltd | 3.31% | 0.74% | 0.74% |
 ICKIndustrial & Commercial Bank of China Ltd | 1.28% | 0.62% | 0.62% |
 VALE3Vale SA | 3.03% | 0.51% | 0.51% |
 2318RUBPing An Insurance Group Co of China Ltd | 1.11% | 0.46% | 0.46% |
 3711ASE Technology Holding Co Ltd | 1.20% | 0.44% | 0.44% |
 HDFCBHDFC Bank Ltd | 0.44% | 0.80% | 0.44% |
 ICICIBCICICI Bank Ltd | 0.42% | 0.61% | 0.42% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.40% | 0.66% | 0.40% |
 W8VBank of China Ltd | 1.19% | 0.38% | 0.38% |
 ARAMCSARSaudi Arabian Oil Co | 0.74% | 0.38% | 0.38% |
 PETR4Petroleo Brasileiro SA - Petrobras | 2.48% | 0.38% | 0.38% |
 INFOInfosys Ltd | 0.45% | 0.38% | 0.38% |
 PETR3Petroleo Brasileiro SA - Petrobras | 2.34% | 0.36% | 0.36% |
 ITUB4Itau Unibanco Holding SA | 0.68% | 0.35% | 0.35% |
 3037Unimicron Technology Corp | 0.59% | 0.33% | 0.33% |
 9999NetEase Inc | 0.31% | 0.37% | 0.31% |
 1810Xiaomi Corp | 0.30% | 0.56% | 0.30% |
 9888Baidu, Inc., A Shares | 0.60% | 0.29% | 0.29% |
Showing the top 250 of 332 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDE and VWO overlap?
FNDE and VWO overlap by 43.2% of portfolio weight. They share 332 holdings (FNDE holds 370 positions and VWO holds 5015), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDE and VWO?
The two portfolios are 43.2% 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 VWO?
The largest positions held by both funds are TSMWF, 9988, 700, 2454 and C6T. Together the top 10 shared positions account for 37% of the total overlap.
What does FNDE own that VWO doesn't?
38 positions (5.1% of FNDE) are unique to FNDE, led by JD, PTT-R and 992. In the other direction, 4683 positions (41.6% of VWO) are unique to VWO.