SPEM vs DFAE: Holdings Overlap
SPEMState Street® SPDR® Portfolio Emerging Markets ETF
State Street (SPDR) · 2776 holdings · $17.4B · as of 2026-08-06
DFAEDimensional Emerging Core Equity Market ETF
Dimensional · 6342 holdings · $9.5B · as of 2026-04-30
Holdings snapshots are 98 days apart (SPEM: 2026-08-06, DFAE: 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 SPEM and DFAE?
State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776 positions; Dimensional Emerging Core Equity Market ETF (DFAE, by Dimensional) holds 6342. They have 1411 holdings in common, and by portfolio weight the two funds are 57.4% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 57.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1411SPEM holds 2776 · DFAE holds 6342
- Weight in Shared Holdings
- SPEM 91%·DFAE 62%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 SPEM
1365 of 2776 positions (18.3% of the fund) are not held by DFAE. Showing the top 30 by weight.
Only in DFAE
4931 of 6342 positions (38.0% of the fund) are not held by SPEM. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPEM | DFAE |
|---|---|---|
| Information Technology | 25.3% | 28.8% |
| Financials | 15.1% | 10.5% |
| Consumer Discretionary | 7.0% | 5.6% |
| Communication Services | 5.4% | 4.7% |
| Materials | 3.8% | 3.0% |
| Other Sectors | 8.7% | 8.6% |
| Unclassified | 43.5% | 39.1% |
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 (40% of SPEM, 39% of DFAE).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SPEM | +2.8% | +13.1% | +22.8% | +17.3% | +7.2% | +8.6% | 2.48% |
| DFAE | +0.3% | +20.0% | +33.0% | +20.1% | +9.2% | — | 1.80% |
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 SPEM vs DFAE →
Shared Holdings(1411)
The top 10 shared positions account for 36% of the overlap, led by 2330, 700 and 9988.
 2330Taiwan Semiconductor Manufacturing Co Ltd | 14.02% | 12.22% | 12.22% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 3.01% | 2.65% | 2.65% |
 9988Alibaba Group Holding Ltd | 2.36% | 1.40% | 1.40% |
 2308Delta Electronics Inc | 0.95% | 0.90% | 0.90% |
 939China Construction Bank Corp | 0.88% | 0.78% | 0.78% |
 2454MediaTek Inc | 1.64% | 0.69% | 0.69% |
 2317Hon Hai Precision Industry Co Ltd | 0.96% | 0.53% | 0.53% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.54% | 0.52% | 0.52% |
 1398Industrial & Commercial Bank of China Ltd | 0.55% | 0.44% | 0.44% |
 IBNICICI Bank Ltd | 0.74% | 0.42% | 0.42% |
 BHARTIBharti Airtel Ltd | 0.55% | 0.41% | 0.41% |
 1810Xiaomi Corp | 0.47% | 0.40% | 0.40% |
 2318Ping An Insurance Group Co of China Ltd | 0.40% | 0.47% | 0.40% |
 1120Al Rajhi Bank | 0.44% | 0.35% | 0.35% |
 HDFCBHDFC Bank Ltd | 0.75% | 0.34% | 0.34% |
 3988Bank of China Ltd | 0.43% | 0.33% | 0.33% |
 1211BYD Co Ltd. 'H'CNY1 | 0.33% | 0.34% | 0.33% |
 VALEVale SA | 0.38% | 0.33% | 0.33% |
 3690Meituan, B Shares | 0.48% | 0.32% | 0.32% |
 3037Unimicron Technology Corp | 0.44% | 0.31% | 0.31% |
 2222Saudi Arabian Oil Co | 0.28% | 0.28% | 0.28% |
 9999NetEase Inc | 0.41% | 0.28% | 0.28% |
 2345Accton Technology Corp | 0.26% | 0.30% | 0.26% |
 2383Elite Material Co Ltd | 0.38% | 0.26% | 0.26% |
 2899Zijin Mining Group Co Ltd | 0.32% | 0.24% | 0.24% |
Showing the top 250 of 1411 shared holdings by overlap weight.
Frequently Asked Questions
How much do SPEM and DFAE overlap?
SPEM and DFAE overlap by 57.4% of portfolio weight. They share 1411 holdings (SPEM holds 2776 positions and DFAE holds 6342), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPEM and DFAE?
The two portfolios are 57.4% 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 SPEM and DFAE?
The largest positions held by both funds are 2330, 700, 9988, 2308 and 939. Together the top 10 shared positions account for 36% of the total overlap.
What does SPEM own that DFAE doesn't?
1365 positions (18.3% of SPEM) are unique to SPEM, led by NPN, NU and 9618. In the other direction, 4931 positions (38.0% of DFAE) are unique to DFAE.