SPEM vs VEU: Holdings Overlap
SPEMState Street® SPDR® Portfolio Emerging Markets ETF
State Street (SPDR) · 2776 holdings · $17.4B · as of 2026-08-06
VEUVanguard FTSE All-world Ex-us Index Fund
Vanguard · 3855 holdings · $69.8B · as of 2026-04-30
Holdings snapshots are 98 days apart (SPEM: 2026-08-06, VEU: 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 VEU?
State Street® SPDR® Portfolio Emerging Markets ETF (SPEM, by State Street (SPDR)) holds 2776 positions; Vanguard FTSE All-world Ex-us Index Fund (VEU, by Vanguard) holds 3855. They have 1056 holdings in common, and by portfolio weight the two funds are 22.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 22.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 1056SPEM holds 2776 · VEU holds 3855
- Weight in Shared Holdings
- SPEM 89%·VEU 23%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
1720 of 2776 positions (19.8% of the fund) are not held by VEU. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPEM | VEU |
|---|---|---|
| Information Technology | 25.3% | 16.2% |
| Financials | 15.1% | 20.0% |
| Industrials | 1.5% | 11.7% |
| Consumer Discretionary | 7.0% | 6.1% |
| Health Care | 1.2% | 5.6% |
| Other Sectors | 15.2% | 21.9% |
| Unclassified | 43.5% | 17.4% |
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 (40% of SPEM, 18% of VEU).
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% |
| VEU | +2.8% | +16.6% | +28.4% | +19.2% | +9.6% | +9.9% | 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 SPEM vs VEU →
Shared Holdings(1056)
The top 10 shared positions account for 35% of the overlap, led by 2330, 700 and 9988.
 2330Taiwan Semiconductor Manufacturing Co Ltd | 14.02% | 4.28% | 4.28% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 3.01% | 0.96% | 0.96% |
 9988Alibaba Group Holding Ltd | 2.36% | 0.75% | 0.75% |
 2308Delta Electronics Inc | 0.95% | 0.34% | 0.34% |
 2454MediaTek Inc | 1.64% | 0.31% | 0.31% |
 939China Construction Bank Corp | 0.88% | 0.25% | 0.25% |
 HDFCBHDFC Bank Ltd | 0.75% | 0.24% | 0.24% |
 2317Hon Hai Precision Industry Co Ltd | 0.96% | 0.22% | 0.22% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.54% | 0.19% | 0.19% |
 1398Industrial & Commercial Bank of China Ltd | 0.55% | 0.18% | 0.18% |
 1810Xiaomi Corp | 0.47% | 0.16% | 0.16% |
 BHARTIBharti Airtel Ltd | 0.55% | 0.15% | 0.15% |
 3690Meituan, B Shares | 0.48% | 0.15% | 0.15% |
 1120Al Rajhi Bank | 0.44% | 0.14% | 0.14% |
 2318Ping An Insurance Group Co of China Ltd | 0.40% | 0.13% | 0.13% |
 3711ASE Technology Holding Co Ltd | 0.70% | 0.13% | 0.13% |
 1211BYD Co Ltd | 0.33% | 0.12% | 0.12% |
 3988Bank of China Ltd | 0.43% | 0.11% | 0.11% |
 2222Saudi Arabian Oil Co | 0.28% | 0.11% | 0.11% |
 9999NetEase Inc | 0.41% | 0.11% | 0.11% |
 2383Elite Material Co Ltd | 0.38% | 0.11% | 0.11% |
 NPNNaspers Ltd | 0.40% | 0.11% | 0.11% |
 GFIGold Fields Ltd | 0.29% | 0.10% | 0.10% |
 3037Unimicron Technology Corp | 0.44% | 0.10% | 0.10% |
 2345Accton Technology Corp | 0.26% | 0.09% | 0.09% |
Showing the top 250 of 1056 shared holdings by overlap weight.
Frequently Asked Questions
How much do SPEM and VEU overlap?
SPEM and VEU overlap by 22.2% of portfolio weight. They share 1056 holdings (SPEM holds 2776 positions and VEU holds 3855), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPEM and VEU?
The two portfolios are 22.2% 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 SPEM and VEU?
The largest positions held by both funds are 2330, 700, 9988, 2308 and 2454. Together the top 10 shared positions account for 35% of the total overlap.
What does SPEM own that VEU doesn't?
1720 positions (19.8% of SPEM) are unique to SPEM, led by RIGD, IBN and NU. In the other direction, 2799 positions (76.3% of VEU) are unique to VEU.