IEMG vs AAXJ: Holdings Overlap
IEMGiShares Core MSCI Emerging Markets ETF
iShares · 2697 holdings · $156.6B · 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 (IEMG: 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 IEMG and AAXJ?
iShares Core MSCI Emerging Markets ETF (IEMG, by iShares) holds 2697 positions; iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916. They have 867 holdings in common, and by portfolio weight the two funds are 70.6% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 70.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 867IEMG holds 2697 · AAXJ holds 916
- Weight in Shared Holdings
- IEMG 73%·AAXJ 92%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 IEMG
1830 of 2697 positions (26.9% of the fund) are not held by AAXJ. Showing the top 30 by weight.
Sector Breakdown
| Sector | IEMG | AAXJ |
|---|---|---|
| Information Technology | 36.2% | 39.6% |
| Financials | 11.0% | 13.9% |
| Consumer Discretionary | 6.0% | 8.1% |
| Communication Services | 4.6% | 6.4% |
| Industrials | 2.4% | 3.5% |
| Other Sectors | 8.9% | 8.1% |
| Unclassified | 30.7% | 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 (31% of IEMG, 20% of AAXJ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IEMG | +0.3% | +19.9% | +33.4% | +20.1% | +7.8% | +9.0% | 2.25% |
| 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 IEMG vs AAXJ →
Shared Holdings(867)
The top 10 shared positions account for 46% of the overlap, led by TSMWF, 005930 and 000660.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 12.49% | 16.28% | 12.49% |
|---|---|---|---|
 005930Samsung Electronics Co Ltd | 6.80% | 6.78% | 6.78% |
 000660SK hynix Inc | 5.82% | 4.63% | 4.63% |
 700Tencent Holdings Ltd. | 2.37% | 3.70% | 2.37% |
 9988Alibaba Group Holding Ltd | 1.82% | 2.70% | 1.82% |
 2454MediaTek Inc | 1.42% | 1.21% | 1.21% |
 2308Delta Electronics Inc | 1.02% | 1.30% | 1.02% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.79% | 0.85% | 0.79% |
 005935Samsung Electronics Co Ltd | 0.74% | 0.84% | 0.74% |
 C6TChina Construction Bank Corp | 0.71% | 1.03% | 0.71% |
 HDFCBHDFC Bank Ltd | 0.61% | 0.88% | 0.61% |
 RELIANCEReliance Industries Ltd | 0.58% | 0.88% | 0.58% |
 402340SK Square Co Ltd | 0.53% | 0.51% | 0.51% |
 ICICIBCICICI Bank Ltd | 0.48% | 0.67% | 0.48% |
 005380Hyundai Motor Co | 0.44% | 0.46% | 0.44% |
 3711ASE Technology Holding Co Ltd | 0.44% | 0.50% | 0.44% |
 1810Xiaomi Corp | 0.42% | 0.62% | 0.42% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.41% | 0.67% | 0.41% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.38% | 0.55% | 0.38% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.35% | 0.51% | 0.35% |
 2383Elite Material Co Ltd | 0.34% | 0.42% | 0.34% |
 BHARTIBharti Airtel Ltd | 0.34% | 0.48% | 0.34% |
 3690Meituan, B Shares | 0.33% | 0.51% | 0.33% |
 W8VBank of China Ltd | 0.32% | 0.43% | 0.32% |
 009150Samsung Electro-Mechanics Co Ltd | 0.54% | 0.31% | 0.31% |
Showing the top 250 of 867 shared holdings by overlap weight.
Frequently Asked Questions
How much do IEMG and AAXJ overlap?
IEMG and AAXJ overlap by 70.6% of portfolio weight. They share 867 holdings (IEMG holds 2697 positions and AAXJ holds 916), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IEMG and AAXJ?
The two portfolios are 70.6% 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 IEMG and AAXJ?
The largest positions held by both funds are TSMWF, 005930, 000660, 700 and 9988. Together the top 10 shared positions account for 46% of the total overlap.
What does IEMG own that AAXJ doesn't?
1830 positions (26.9% of IEMG) are unique to IEMG, led by VALE3, RJHISAR and AU. In the other direction, 49 positions (7.5% of AAXJ) are unique to AAXJ.