INDA vs SPEM: Holdings Overlap
iShares · 169 holdings · $6.6B · 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 (INDA: 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 INDA and SPEM?
iShares MSCI India ETF (INDA, by iShares) holds 169 positions; State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776. They have 136 holdings in common, and by portfolio weight the two funds are 10.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 10.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 136INDA holds 169 · SPEM holds 2776
- Weight in Shared Holdings
- INDA 77%·SPEM 11%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
33 of 169 positions (22.5% of the fund) are not held by SPEM. Showing the top 30 by weight.
Only in SPEM
2640 of 2776 positions (98.2% of the fund) are not held by INDA. Showing the top 30 by weight.
Sector Breakdown
| Sector | INDA | SPEM |
|---|---|---|
| Information Technology | 6.8% | 25.3% |
| Financials | 21.5% | 15.1% |
| Consumer Discretionary | 9.9% | 7.0% |
| Energy | 8.6% | 2.9% |
| Materials | 6.6% | 3.8% |
| Other Sectors | 23.7% | 11.2% |
| Unclassified | 22.7% | 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 (23% of INDA, 40% of SPEM).
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% | — |
| 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 INDA vs SPEM →
Shared Holdings(136)
The top 10 shared positions account for 31% of the overlap, led by HDFCB, BHARTI and BAF.
 HDFCBHDFC Bank Ltd | 6.15% | 0.75% | 0.75% |
|---|---|---|---|
 BHARTIBharti Airtel Ltd | 3.63% | 0.55% | 0.55% |
 BAFBajaj Finance Ltd | 1.92% | 0.33% | 0.33% |
 AXSBAxis Bank Ltd | 2.23% | 0.30% | 0.30% |
 SUNPSun Pharmaceutical Industries Ltd | 1.30% | 0.26% | 0.26% |
 TCSTata Consultancy Services Ltd | 1.54% | 0.24% | 0.24% |
 KMBKotak Mahindra Bank Ltd | 1.59% | 0.22% | 0.22% |
 MSILMaruti Suzuki India Ltd | 1.25% | 0.22% | 0.22% |
 HUVRHindustan Unilever Ltd | 1.34% | 0.21% | 0.21% |
 TTANTitan Co Ltd | 1.09% | 0.19% | 0.19% |
 BJAUTBajaj Auto Ltd | 0.53% | 0.19% | 0.19% |
 EIMEicher Motors Ltd | 0.74% | 0.19% | 0.19% |
 BJFINBajaj Finserv Ltd | 0.52% | 0.19% | 0.19% |
 HCLTHCL Technologies Ltd | 0.85% | 0.18% | 0.18% |
 ETERNALEternal Ltd | 0.46% | 0.16% | 0.16% |
 UTCEMUltraTech Cement Ltd | 1.02% | 0.15% | 0.15% |
 HNDLHindalco Industries Ltd | 1.15% | 0.14% | 0.14% |
 JIOFINJio Financial Services Ltd | 0.52% | 0.14% | 0.14% |
 ITCITC Ltd | 0.65% | 0.14% | 0.14% |
 ADSEZAdani Ports & Special Economic Zone Ltd | 0.74% | 0.14% | 0.14% |
 TATATata Steel Ltd | 1.18% | 0.14% | 0.14% |
 APHSApollo Hospitals Enterprise Ltd | 0.67% | 0.14% | 0.14% |
 TMCVTata Motors Ltd /new | 0.55% | 0.13% | 0.13% |
 BHEBharat Electronics Ltd | 1.13% | 0.13% | 0.13% |
 FORHFortis Healthcare Ltd | 0.35% | 0.13% | 0.13% |
Frequently Asked Questions
How much do INDA and SPEM overlap?
INDA and SPEM overlap by 10.7% of portfolio weight. They share 136 holdings (INDA holds 169 positions and SPEM holds 2776), based on each fund's latest SEC-reported holdings.
Is it redundant to own both INDA and SPEM?
The two portfolios are 10.7% 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 SPEM?
The largest positions held by both funds are HDFCB, BHARTI, BAF, AXSB and SUNP. Together the top 10 shared positions account for 31% of the total overlap.
What does INDA own that SPEM doesn't?
33 positions (22.5% of INDA) are unique to INDA, led by RELIANCE, INFO and MM. In the other direction, 2640 positions (98.2% of SPEM) are unique to SPEM.