VWO vs IEMG: Holdings Overlap
VWOVanguard Emerging Markets Stock Index Fund
Vanguard · 5015 holdings · $124.9B · as of 2026-04-30
IEMGiShares Core MSCI Emerging Markets ETF
iShares · 2697 holdings · $156.6B · as of 2026-05-31
Holdings snapshots are 31 days apart (VWO: 2026-04-30, IEMG: 2026-05-31). 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 VWO and IEMG?
Vanguard Emerging Markets Stock Index Fund (VWO, by Vanguard) holds 5015 positions; iShares Core MSCI Emerging Markets ETF (IEMG, by iShares) holds 2697. They have 2140 holdings in common, and by portfolio weight the two funds are 72.0% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 72.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 2140VWO holds 5015 · IEMG holds 2697
- Weight in Shared Holdings
- VWO 90%·IEMG 74%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 VWO
2875 of 5015 positions (8.7% of the fund) are not held by IEMG. Showing the top 30 by weight.
Sector Breakdown
| Sector | VWO | IEMG |
|---|---|---|
| Information Technology | 23.7% | 36.2% |
| Financials | 12.6% | 11.0% |
| Consumer Discretionary | 7.0% | 6.0% |
| Communication Services | 5.7% | 4.6% |
| Materials | 3.4% | 2.9% |
| Other Sectors | 9.5% | 8.4% |
| Unclassified | 37.4% | 30.7% |
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 (38% of VWO, 31% of IEMG).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VWO | +2.7% | +12.6% | +22.3% | +16.6% | +6.6% | +7.9% | 2.29% |
| IEMG | +0.3% | +19.9% | +33.4% | +20.1% | +7.8% | +9.0% | 2.25% |
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 VWO vs IEMG →
Shared Holdings(2140)
The top 10 shared positions account for 30% of the overlap, led by TSMWF, 700 and 9988.
 TSMWFTaiwan Semiconductor Manufacturing Co Ltd | 14.61% | 12.49% | 12.49% |
|---|---|---|---|
 700Tencent Holdings Ltd. | 3.26% | 2.37% | 2.37% |
 9988Alibaba Group Holding Ltd | 2.55% | 1.82% | 1.82% |
 2454MediaTek Inc | 1.06% | 1.42% | 1.06% |
 2308Delta Electronics Inc | 1.17% | 1.02% | 1.02% |
 HNHAFHon Hai Precision Industry Co Ltd | 0.74% | 0.79% | 0.74% |
 C6TChina Construction Bank Corp | 0.85% | 0.71% | 0.71% |
 HDFCBHDFC Bank Ltd | 0.80% | 0.61% | 0.61% |
 RELIANCEReliance Industries Ltd | 0.90% | 0.58% | 0.58% |
 ICICIBCICICI Bank Ltd | 0.61% | 0.48% | 0.48% |
 3711ASE Technology Holding Co Ltd | 0.44% | 0.44% | 0.44% |
 1810Xiaomi Corp | 0.56% | 0.42% | 0.42% |
 PDDPDD Holdings Inc. SPONSORED ADS | 0.66% | 0.41% | 0.41% |
 VALE3Vale SA | 0.51% | 0.41% | 0.41% |
 ICKIndustrial & Commercial Bank of China Ltd | 0.62% | 0.38% | 0.38% |
 RJHISARAl Rajhi Bank | 0.47% | 0.36% | 0.36% |
 2318RUBPing An Insurance Group Co of China Ltd | 0.46% | 0.35% | 0.35% |
 2383Elite Material Co Ltd | 0.37% | 0.34% | 0.34% |
 BHARTIBharti Airtel Ltd | 0.51% | 0.34% | 0.34% |
 3690Meituan, B Shares | 0.50% | 0.33% | 0.33% |
 AUAnglogold Ashanti PLC COM SHS | 0.40% | 0.33% | 0.33% |
 W8VBank of China Ltd | 0.38% | 0.32% | 0.32% |
 ARAMCSARSaudi Arabian Oil Co | 0.38% | 0.30% | 0.30% |
 3037Unimicron Technology Corp | 0.33% | 0.30% | 0.30% |
 1211RUBBYD Co Ltd | 0.42% | 0.29% | 0.29% |
Showing the top 250 of 2140 shared holdings by overlap weight.
Frequently Asked Questions
How much do VWO and IEMG overlap?
VWO and IEMG overlap by 72.0% of portfolio weight. They share 2140 holdings (VWO holds 5015 positions and IEMG holds 2697), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VWO and IEMG?
The two portfolios are 72.0% 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 VWO and IEMG?
The largest positions held by both funds are TSMWF, 700, 9988, 2454 and 2308. Together the top 10 shared positions account for 30% of the total overlap.
What does VWO own that IEMG doesn't?
2875 positions (8.7% of VWO) are unique to VWO, led by DELTA-F, PTT-F and ADVANC-F. In the other direction, 557 positions (26.1% of IEMG) are unique to IEMG.