INDA vs AAXJ: Holdings Overlap
iShares · 169 holdings · $6.6B · 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 (INDA: 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 INDA and AAXJ?
iShares MSCI India ETF (INDA, by iShares) holds 169 positions; iShares MSCI All Country Asia ex Japan ETF (AAXJ, by iShares) holds 916. They have 169 holdings in common, and by portfolio weight the two funds are 13.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 169INDA holds 169 · AAXJ holds 916
- Weight in Shared Holdings
- INDA 100%·AAXJ 13%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 INDA
Every position in INDA is also held by AAXJ, so it brings nothing the other fund doesn’t already own.
Only in AAXJ
747 of 916 positions (86.3% of the fund) are not held by INDA. Showing the top 30 by weight.
Sector Breakdown
| Sector | INDA | AAXJ |
|---|---|---|
| Information Technology | 6.8% | 39.6% |
| Financials | 21.5% | 13.9% |
| Consumer Discretionary | 9.9% | 8.1% |
| Energy | 8.6% | 1.9% |
| Materials | 6.6% | 1.5% |
| Other Sectors | 23.7% | 14.6% |
| Unclassified | 22.7% | 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 (23% of INDA, 20% of AAXJ).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| INDA | +2.1% | -6.8% | -4.1% | +4.7% | +3.4% | +6.6% | — |
| 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 INDA vs AAXJ →
Shared Holdings(169)
The top 10 shared positions account for 35% of the overlap, led by HDFCB, RELIANCE and ICICIBC.
 HDFCBHDFC Bank Ltd | 6.15% | 0.88% | 0.88% |
|---|---|---|---|
 RELIANCEReliance Industries Ltd | 6.23% | 0.88% | 0.88% |
 ICICIBCICICI Bank Ltd | 4.68% | 0.67% | 0.67% |
 BHARTIBharti Airtel Ltd | 3.63% | 0.48% | 0.48% |
 INFOInfosys Ltd | 2.92% | 0.39% | 0.39% |
 MMMahindra & Mahindra Ltd | 2.20% | 0.29% | 0.29% |
 AXSBAxis Bank Ltd | 2.23% | 0.29% | 0.29% |
 LTLarsen & Toubro Ltd | 2.13% | 0.27% | 0.27% |
 BAFBajaj Finance Ltd | 1.92% | 0.27% | 0.27% |
 TCSTata Consultancy Services Ltd | 1.54% | 0.22% | 0.22% |
 KMBKotak Mahindra Bank Ltd | 1.59% | 0.21% | 0.21% |
 SBINState Bank of India | 1.34% | 0.20% | 0.20% |
 HUVRHindustan Unilever Ltd | 1.34% | 0.18% | 0.18% |
 SUNPSun Pharmaceutical Industries Ltd | 1.30% | 0.17% | 0.17% |
 NTPCNTPC Ltd | 1.28% | 0.17% | 0.17% |
 MSILMaruti Suzuki India Ltd | 1.25% | 0.17% | 0.17% |
 BHEBharat Electronics Ltd | 1.13% | 0.16% | 0.16% |
 TATATata Steel Ltd | 1.18% | 0.16% | 0.16% |
 TTANTitan Co Ltd | 1.09% | 0.16% | 0.16% |
 PWGRPower Grid Corp of India Ltd | 1.02% | 0.14% | 0.14% |
 HNDLHindalco Industries Ltd | 1.15% | 0.14% | 0.14% |
 UTCEMUltraTech Cement Ltd | 1.02% | 0.14% | 0.14% |
 SHFLShriram Finance Ltd | 1.01% | 0.14% | 0.14% |
 HCLTHCL Technologies Ltd | 0.85% | 0.11% | 0.11% |
 EIMEicher Motors Ltd | 0.74% | 0.10% | 0.10% |
Frequently Asked Questions
How much do INDA and AAXJ overlap?
INDA and AAXJ overlap by 13.4% of portfolio weight. They share 169 holdings (INDA holds 169 positions and AAXJ holds 916), based on each fund's latest SEC-reported holdings.
Is it redundant to own both INDA and AAXJ?
The two portfolios are 13.4% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of INDA and AAXJ?
The largest positions held by both funds are HDFCB, RELIANCE, ICICIBC, BHARTI and INFO. Together the top 10 shared positions account for 35% of the total overlap.
What does INDA own that AAXJ doesn't?
Nothing. Every position in INDA is also held by AAXJ. In the other direction, 747 positions (86.3% of AAXJ) are unique to AAXJ.