BLES vs PXH: Grades, Fees and Holdings Compared

Inspire Global Hope ETF

BLESCNYSE Arca

Invesco RAFI Emerging Markets ETF

PXHBNYSE Arca

Overlap

3.1%by weight

Expense ratio

PXH −0.13pt a year

BLES0.60%PXH0.47%

Avg volume · 30D

PXH 21.2×the volume

BLES10.5KPXH223K

5Y return · a year

PXH +2.4pt

BLES+7.3%PXH+9.7%

BLES vs PXH Performance

Oct 29, 2021 – Oct 30, 2026

+42.4%BLES+59.1%PXH

Expense ratio: BLES 0.60%; PXH 0.47%, better
Fund size: BLES $167M; PXH $1.94B
1Y total return: BLES +14.9%, better; PXH +13.1%
Yield (12M): BLES 1.86%; PXH 4.13%, better
Holdings: BLES 416; PXH 365
Avg volume (30D): BLES 10.5K sh; PXH 223K sh, better
NAV per share: BLES $48.38; PXH $28.02
52W range

ETF.net Grade

Pillar letters and Scores for BLES, PXH, with each pillar’s weight
Pillar	BLES	PXH
Cost30% weight	D33	C44Higher
Mission25% weight	B65	Not scored
Risk15% weight	A79Higher	B63
Tradability15% weight	D38	A77Higher
Holdings10% weight	A88Higher	B55
Durability5% weight	D38	A76Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. BLES and PXH are both graded against the same 10 Emerging Markets Factor Index funds, so their Grades compare head to head.

Emerging Markets Factor Index⁠

Category · 10 funds

See all 10 ›

PXH ranks 4th and BLES 5th of 10 funds in the Emerging Markets Factor Index Category.

Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 78
Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 66
Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 64
Rank 4BPXHInvesco RAFI Emerging Markets ETFScore 57
Rank 5CBLESInspire Global Hope ETFScore 50
Rank 6CEEMOInvesco S&P Emerging Markets Momentum ETFScore 45

Our read on each fund

ETF.net Research

BLESCInspire Global Hope ETF

PXHBInvesco RAFI Emerging Markets ETF

In short

BLES One of the two funds that launched Inspire's lineup in 2017: roughly 400 large caps from the US, developed markets and emerging markets, screened against biblical values and held in equal slices.

PXH Most emerging-markets funds size positions by share price. PXH sizes them by economic footprint (sales, cash flow, dividends, book value), the fundamental-indexing approach it has run since 2007. A value-tilted EM portfolio built from the accounting statements up.

Stated mandate

BLES The Fund seeks to track, before fees and expenses, the performance of the Inspire Global Hope Large Cap Equal Weight Index.

PXH The Fund seeks to track, before fees and expenses, the investment results of the RAFI strategy.

Why people hold it

BLES Global core in one ticker, with a target mix of 50% US, 40% developed international and 10% emerging markets, equal weighted and rebalanced quarterly.prnewswire.com inspireetf.com
The faith screen is the whole point: holdings need an Inspire Impact Score of zero or better, so whole industries are excluded by rule, not by a manager's mood.inspireetf.com
Equal weighting tilts the portfolio smaller and flatter than a cap-weighted global index, and the quarterly reset trims what has run up.inspireetf.com
Inspire says it gives at least half of its net corporate profits from management fees to ministry projects through its Give50 program.inspireetf.com

PXH Position sizes come from book value, cash flow, sales and dividends, not market price, so a stock rallying does not automatically earn a bigger slot in the fund.invesco.com lseg.com
Running since 2007, one of the longest-lived fundamental-index plays in emerging markets, now at billion-dollar scale and moderately traded.
Roughly 400 stocks across emerging markets, paid out quarterly. Broad coverage rather than a concentrated country or sector bet.

Worth knowing

BLES Costs more than the median fund in its peer group, the price of a niche screen and a worldwide portfolio.
Trades lightly next to category heavyweights like EEMV and EELV, so the bid-ask spread is worth a look before placing an order.
Emerging markets are only about a tenth of the target mix, so it sits among EM specialists without being a dedicated EM play.prnewswire.com

PXH At 0.47% it costs a shade more than the 0.45% median index tracker, and multiples of the cheapest broad index funds (VT charges 0.06%).
Weighting by fundamentals means the portfolio can look very different from cap-weighted EM benchmarks, and move differently from them for long stretches.lseg.com invesco.com
The benchmark switched in 2025 (it was the FTSE RAFI Emerging Index before), so the fund's long history predates today's selection rules.invesco.com

Full BLES profile⁠

Full PXH profile⁠

BLES vs PXH Holdings

How BLES and PXH differ

Overlap by weight

3.1%

Shared holdings make up 4.6% of BLES and 4.1% of PXH.

Level by level

Holdings20 in both3.1%
Countryby domicile8.1%
Sector11 Sectors66.8%
Asset classEquity100%

Sector

Sector weights in BLES and PXH, widest gap first
Sector	More in BLESMore in PXH	BLES	PXH
Financials	PXH +14.3 points	13.4%	27.8%
Industrials	BLES +14.1 points	19.1%	5.0%
Health Care	BLES +6.8 points	7.8%	1.0%
Energy	PXH +5.4 points	7.7%	13.1%
Utilities	BLES +5.2 points	7.5%	2.3%
Real Estate	BLES +5.1 points	6.6%	1.5%
Communication	PXH +4.8 points	1.0%	5.8%
Technology	PXH +4.6 points	15.5%	20.1%
Consumer Discretionary	PXH +3.9 points	6.3%	10.2%
Consumer Staples	BLES +1.8 points	4.6%	2.8%
Materials	PXH +0.1 points	10.5%	10.6%

Country, concentration and asset class

Country by domicile

Country weights in BLES and PXH, widest gap first
Country	More in BLESMore in PXH	BLES	PXH
United States	BLES +50.0 points	50.5%	0.5%
China	PXH +36.3 points	0.2%	36.5%
Taiwan	PXH +25.4 points	1.0%	26.4%
India	PXH +10.0 points	0.0%	10.0%
Brazil	PXH +9.8 points	0.9%	10.7%
South Africa	PXH +4.5 points	1.6%	6.1%
Canada	BLES +4.2 points	4.2%	0.0%
Switzerland	BLES +4.1 points	4.1%	0.0%
Other countries (27)	BLES +27.6 points	37.4%	9.8%

Outside the US: BLES 79% developed, 21% emerging. PXH 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

BLES3.4%
PXH28.4%

Securities held

BLES402
PXH359

Asset class

BLES: Equity
PXH: Equity

Holdings

Only in BLES382
In both20
Only in PXH339

Only in BLES

382 securities, 95.3% of BLES by weight

Skyworks Solutio0.42%
Genmab A/S0.39%
Glaukos Corp0.37%
Bbh Sweep Vehicle0.37%
Ucb SA0.33%
Roper Technologi0.31%
Bentley System-B0.31%
Icon PLC0.31%
Zscaler Inc0.31%
Wisetech Global0.30%
Procore Technolo0.30%
Wolters Kluwer0.30%
Apa Corp0.30%
Docusign Inc0.30%
Ryder System Inc0.30%
Essilorluxottica0.30%
Check Point Soft0.30%
Manhattan Assoc0.29%
Cboe Global Mark0.29%
Dassault Systeme0.29%
Tyler Technolog0.29%
United Rentals0.29%
Constellation So0.29%
Receivables/Payables0.29%
Masco Corp0.29%
Can Natural Res0.29%
Aker Bp Asa0.29%
London Stock Ex0.29%
Tourmaline Oil C0.28%
Dsv A/S0.28%
First Citizens-A0.28%
Verisk Analyti0.28%
Fair Isaac Corp0.28%
Insulet Corp0.28%
Msci Inc0.28%
Steel Dynamics0.28%
Mongodb Inc0.28%
Centerpoint Ener0.28%
Targa Resources0.28%
Atco Ltd/Canada0.28%
H Lundbeck A/S-A0.28%
Fairfax Finl Hld0.28%
Carlisle Cos Inc0.28%
Givaudan-Reg0.28%
Nisource Inc0.28%
Rollins Inc0.28%
Kinetik Holdings0.28%
Reliance Inc0.28%
Equinor Asa0.28%
Royalty Pharma-A0.28%

Only in PXH

339 securities, 95.4% of PXH by weight

Taiwan Semiconductor Manufacturing Co Ltd5.84%
Petroleo Brasileiro SA - Petrobras4.73%
Alibaba Group Holding Ltd2.96%
China Construction Bank Corp2.86%
Hon Hai Precision Industry Co Ltd2.62%
Industrial & Commercial Bank of China Ltd2.15%
Tencent Holdings Ltd2.10%
MediaTek Inc1.72%
Bank of China Ltd1.70%
Vale SA1.67%
JD.com Inc1.59%
Ping An Insurance Group Co of China Ltd1.30%
PetroChina Co Ltd1.13%
Nan Ya Plastics Corp0.98%
China Petroleum & Chemical Corp0.95%
China Merchants Bank Co Ltd0.94%
Reliance Industries Ltd0.93%
Ptt Pcl0.83%
ASE Technology Holding Co Ltd0.80%
PDD Holdings Inc0.78%
United Microelectronics Corp0.77%
Agricultural Bank of China Ltd0.75%
Evergreen Marine Corp Taiwan Ltd0.71%
HDFC Bank Ltd0.69%
ICICI Bank Ltd0.65%
Sasol Ltd0.62%
Itau Unibanco Holding SA0.62%
Saudi Arabian Oil Co0.61%
Infosys Ltd0.58%
Fubon Financial Holding Co Ltd0.58%
Lenovo Group Ltd0.57%
Fomento Economico Mexicano SAB de CV0.55%
Asustek Computer Inc0.54%
Xiaomi Corp0.52%
Meituan0.51%
Grupo Mexico SAB de CV0.51%
Baidu Inc0.50%
CTBC Financial Holding Co Ltd0.49%
America Movil SAB de CV0.48%
Innolux Corp0.48%
China Shenhua Energy Co Ltd0.47%
Cathay Financial Holding Co Ltd0.46%
Bank of Communications Co Ltd0.43%
NetEase Inc0.41%
Banco Bradesco SA0.41%
FirstRand Ltd0.40%
Banco do Brasil SA0.39%
Formosa Plastics Corp0.39%
AUO Corp0.38%
PICC Property & Casualty Co Ltd0.38%

Weight gaps

All 20 Holdings in both funds, largest gap first.

Holding weights in BLES and PXH, widest gap first
Holding	More in BLESMore in PXH	BLES	PXH
Grupo F Banort-O	PXH +0.30 points	0.25%	0.55%
Valterra Platinu	PXH +0.25 points	0.22%	0.47%
Enel Americas SA	BLES +0.22 points	0.23%	<0.01%
Grupo Bimbo-A	BLES +0.21 points	0.27%	0.06%
United Tractors	BLES +0.18 points	0.23%	0.05%
Cencosud SA	BLES +0.17 points	0.22%	0.05%
Standard Bank Gr	PXH +0.13 points	0.25%	0.38%
Weg SA	BLES +0.13 points	0.23%	0.10%
Mtn Group Ltd	PXH +0.12 points	0.25%	0.37%
Eva Airways	BLES +0.12 points	0.24%	0.12%
Wistron Corp	PXH +0.11 points	0.24%	0.35%
Suzano SA	BLES +0.10 points	0.26%	0.16%
Naspers Ltd-N	BLES +0.09 points	0.23%	0.14%
First Financial	BLES +0.08 points	0.27%	0.19%
Bim	BLES +0.05 points	0.20%	0.15%
Soquimich-B	BLES +0.06 points	0.20%	0.14%
B3 SA	BLES +0.05 points	0.18%	0.13%
Bank Rakyat Indo	PXH +0.05 points	0.21%	0.26%
Bank Mandiri	BLES +0.04 points	0.22%	0.18%
Scb X Pcl-Foreig	PXH +0.04 points	0.24%	0.28%

All BLES holdings⁠All 360 PXH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BLES vs PXH Cost

Overpaying BLES vs PXH

$2,399

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BLES 0.60%
$11,817
PXH 0.47%
$9,418

Amount$10,000

Years30 years

Cost over time

BLES 0.60%
PXH 0.47%
Overpaying

Year by year

Year	BLES	PXH	Overpaying
10	$1,076	$847	$229
20	$4,116	$3,261	$855
30	$11,817	$9,418	$2,399

Expense ratio

0.60%BLES
0.47%PXH, cheaper

PXH0.47%BLES0.60%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

PXH 6th cheapest of 10 funds

BLES 7th cheapest of 10 funds

BLES vs PXH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BLES 1.86%; PXH 4.13%, better
Payout (12M): BLES $0.89; PXH $1.16
Last payment: BLES $0.18; PXH $0.32
Ex-dividend: BLES Sep 25, 2026; PXH Sep 21, 2026
Paid on: BLES Oct 1, 2026; PXH Sep 25, 2026
Frequency: BLES Quarterly; PXH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BLESQuarterly · 39 paymentsAll BLES payments⁠

PXHQuarterly · 39 paymentsAll PXH payments⁠

BLES vs PXH Risk

Fall from peak · 5 years

BLES
PXH

Risk facts

VolatilityStd dev, 3 years: BLES 12.3%PXH 11.2%, better
Return per unit of riskSharpe ratio, 3 years: BLES 1.10PXH 1.49, better
Worst fallMax drawdown, 5 years: BLES −26.6%, betterPXH −29.6%
Market sensitivityBeta, 5 years: BLES 0.88PXH 0.76; Market = 1

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