DMXF vs FEDM: Grades, Fees and Holdings Compared

iShares ESG Advanced MSCI EAFE ETF

DMXFANasdaq

Northern Trust ESG & Climate Developed Markets ex-US Core ETF

FEDMANYSE Arca

Overlap

33.7%by weight

Expense ratio

DMXF0.12%FEDM0.12%

Avg volume · 30D

DMXF 37.2×the volume

DMXF75.7KFEDM2.03K

5Y return · a year

FEDM +0.9pt

DMXF+6.7%FEDM+7.6%

DMXF vs FEDM Performance

Oct 29, 2021 – Oct 30, 2026

+38.6%DMXF+44.1%FEDM

Expense ratio: DMXF 0.12%; FEDM 0.12%
Fund size: DMXF $1.04B; FEDM $86M
1Y total return: DMXF +14.0%; FEDM +15.7%, better
Yield (12M): DMXF 4.22%, better; FEDM 2.88%
Holdings: DMXF 408; FEDM 231
Avg volume (30D): DMXF 75.7K sh, better; FEDM 2.03K sh
NAV per share: DMXF $83.48; FEDM $64.72
52W range

ETF.net Grade

Pillar letters and Scores for DMXF, FEDM, with each pillar’s weight
Pillar	DMXF	FEDM
Cost30% weight	A88	A88
Mission25% weight	A100	A100
Risk15% weight	D36	C53Higher
Tradability15% weight	A74Higher	D35
Holdings10% weight	C45	B60Higher
Durability5% weight	A76Higher	C40

Rank among International ESG & Values Index funds

How we build Categories ›

Same Category. DMXF and FEDM are both graded against the same 18 International ESG & Values Index funds, so their Grades compare head to head.

International ESG & Values Index⁠

Category · 18 funds

See all 18 ›

DMXF ranks 3rd and FEDM 4th of 18 funds in the International ESG & Values Index Category.

Rank 1AVSGXVanguard ESG International Stock ETFScore 82
Rank 2AESGDiShares ESG Aware MSCI EAFE ETFScore 79
Rank 3ADMXFiShares ESG Advanced MSCI EAFE ETFScore 76
Rank 4AFEDMNorthern Trust ESG & Climate Developed Markets ex-US Core ETFScore 72
Rank 5AEFAXState Street SPDR MSCI EAFE Fossil Fuel Reserves Free ETFScore 71

Our read on each fund

ETF.net Research

DMXFAiShares ESG Advanced MSCI EAFE ETF

FEDMANorthern Trust ESG & Climate Developed Markets ex-US Core ETF

In short

DMXF The strict one. Where iShares' ESG Aware EAFE fund screens five controversial businesses, DMXF screens fourteen, including the whole energy sector, and charges less than its lighter-screened sibling to do it.

FEDM Northern Trust writes the index and runs the fund: a developed-ex-US core holding screened on its own ESG and climate scoring, at 0.12% net of a waiver through March 1, 2027.

Stated mandate

DMXF The fund seeks to track an index of developed-market equities outside the United States and Canada, while incorporating positive environmental, social, and governance characteristics.

FEDM The Fund seeks to track, before fees and expenses, the performance of the Northern Trust ESG & Climate Developed Markets ex-US Core Index.

Why people hold it

DMXF 0.12% a year, roughly half the typical fee among international ESG funds, and cheaper than the softer-screened iShares sibling ESGD at 0.20%.ishares.com
Fourteen business-involvement screens: fossil fuels, nuclear power and weapons, GMOs, palm oil, for-profit prisons, predatory lending, gambling, tobacco and more.ishares.com
The fossil fuel screen is categorical, not cosmetic: the index drops the entire GICS energy sector plus companies with industry ties such as thermal coal.blackrock.com
Sticks tightly to its MSCI EAFE Choice ESG Screened index, one of the stronger implementations among international ESG funds.

FEDM At 0.12% net of a waiver through March 1, 2027, it sits at the low end of its peer group, matching DMXF (0.12%) and undercutting ESGD (0.20%).
Optimized, not just screened: the index limits how far any stock, sector or region can drift from its developed-ex-US parent, so it still behaves like core foreign equity.flexshares.com
Northern Trust scores companies on its own ESG Vector Score instead of licensing a third party ratings index, and manages the fund in-house.flexshares.com
Roughly 300 large and mid-cap names across developed markets outside the US, paid out quarterly.flexshares.com

Worth knowing

DMXF Deep exclusions mean real drift from plain EAFE. Sibling ESGD is built to keep risk and return close to the parent index; DMXF is not.ishares.com ishares.com 2
About 400 stocks, a narrower slate than the unscreened parent index, so individual names and surviving sectors carry more weight.
Mid-sized and moderately traded rather than a category heavyweight, and distributions arrive once or twice a year rather than quarterly.

FEDM Thinly traded next to the category giants, so spreads can widen. Limit orders matter more here than with the household-name alternatives.
The 0.12% is net of a waiver through March 1, 2027; the gross fee is 0.16%, so the discount depends on that waiver being extended.
ESG and climate screens change what it owns versus a plain developed-ex-US index, so results can drift from the broad market in either direction.sec.gov

Full DMXF profile⁠

Full FEDM profile⁠

DMXF vs FEDM Holdings

How DMXF and FEDM differ

Overlap by weight

33.7%

Shared holdings make up 50.2% of DMXF and 46.5% of FEDM.

Level by level

Holdings105 in both33.7%
Countryby domicile73.7%
Sector11 Sectors84.7%
Asset classEquity100%

Sector

Sector weights in DMXF and FEDM, widest gap first
Sector	More in DMXFMore in FEDM	DMXF	FEDM
Technology	DMXF +6.7 points	19.5%	12.8%
Energy	FEDM +5.7 points	0.0%	5.7%
Financials	DMXF +4.9 points	33.2%	28.3%
Consumer Staples	FEDM +4.1 points	2.4%	6.5%
Utilities	FEDM +2.3 points	0.7%	3.0%
Industrials	FEDM +1.6 points	14.9%	16.5%
Health Care	DMXF +1.5 points	11.1%	9.6%
Real Estate	DMXF +1.2 points	2.7%	1.5%
Materials	FEDM +1.2 points	5.0%	6.2%
Communication	DMXF +1.0 points	5.7%	4.7%
Consumer Discretionary	FEDM +0.5 points	4.7%	5.2%

Country, concentration and asset class

Country by domicile

Country weights in DMXF and FEDM, widest gap first
Country	More in DMXFMore in FEDM	DMXF	FEDM
Canada	FEDM +11.8 points	0.0%	11.8%
Japan	DMXF +9.7 points	31.0%	21.3%
United Kingdom	FEDM +7.3 points	5.9%	13.2%
Netherlands	DMXF +5.8 points	10.8%	5.0%
Spain	FEDM +4.0 points	1.7%	5.7%
Switzerland	DMXF +3.3 points	10.6%	7.3%
Singapore	DMXF +2.3 points	2.7%	0.4%
Sweden	DMXF +2.2 points	4.5%	2.3%
Other countries (14)	FEDM +0.2 points	32.9%	33.1%

Outside the US: DMXF 99% developed, 1% emerging. FEDM 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

DMXF22.3%
FEDM16.6%

Securities held

DMXF393
FEDM215

Asset class

DMXF: Equity
FEDM: Equity

Holdings

Only in DMXF288
In both105
Only in FEDM110

Only in DMXF

288 securities, 49.2% of DMXF by weight

Sumitomo Mitsui Financial Group1.40%
Abb Ltd1.25%
Lair Liquide Societe Anonyme Pour1.18%
Keyence0.87%
Spotify Technology0.81%
Investor Class B0.70%
Oversea-Chinese Banking0.70%
Infineon Technologies AG0.69%
Shin Etsu Chemical0.58%
Essilorluxottica SA0.56%
Nintendo0.54%
Compass Group PLC0.54%
Argenx0.53%
Hoya0.52%
Lonza Group AG0.52%
Nordea Bank0.50%
Kddi0.49%
Ferrari0.45%
Prosus NV Class N0.43%
Galderma Group N AG0.40%
Societe Generale SA0.40%
Sandoz Group AG0.39%
MS&AD Insurance Group Holdings0.37%
Daiichi Life Group0.37%
United Overseas Bank0.36%
Assa Abloy B0.36%
Asm International NV0.36%
Goodman Group Units0.35%
Nec0.35%
Sandvik0.35%
Haleon PLC0.35%
Fujikura0.35%
Erste Group Bank AG0.35%
Alcon AG0.33%
Assicurazioni Generali0.32%
Genmab0.32%
Japan Post Bank Ltd0.32%
Fanuc Corp0.32%
Komatsu0.32%
Ntt0.31%
Otsuka Holdings0.30%
Bank Leumi Le Israel0.30%
Swiss Life Holding AG0.30%
Renesas Electronics Corp0.29%
Prudential PLC0.29%
Nebius NV Class A0.29%
Adidas N AG0.28%
Orange SA0.28%
Resona Holdings0.28%
Stmicroelectronics0.27%

Only in FEDM

110 securities, 51.3% of FEDM by weight

Royal Bank of Canada Common Stock Cad 01.85%
Shell PLC1.79%
Siemens AG Common Stock Eur 01.45%
Astrazeneca PLC Common Stock Gbp 0.251.43%
Msci Eafe Equity Index 18/DEC/2026 MFSZ6 Index1.24%
Hitachi Ltd Common Stock Jpy1.23%
Itochu Corp Common Stock Jpy1.21%
Enbridge Inc Common Stock Cad 01.17%
Banco Bilbao Vizcaya Argentaria SA Common Stock1.15%
Sanofi SA Common Stock Eur 21.14%
Canadian Imperial Bank of Commerce Common Stock1.14%
Nestle SA Common Stock Chf 0.11.10%
Manulife Financial Corp Common Stock Cad 01.06%
Intesa Sanpaolo Spa Common Stock Eur 01.00%
Canadian National Railway Co Common Stock Cad 00.99%
L'oreal SA Common Stock Eur 0.20.99%
Tesco PLC Common Stock Gbp 6.33330.90%
Takeda Pharmaceutical Co Ltd Common Stock Jpy0.83%
Iberdrola SA Common Stock Eur 0.750.81%
Sony Group Corp Common Stock Jpy0.80%
Banco Santander SA Common Stock Eur 0.50.80%
Totalenergies SE Common Stock Eur 2.50.79%
Repsol SA Common Stock Eur 10.77%
Wheaton Precious Metals Corp0.77%
Industria De Diseno Textil SA Common Stock Eur0.76%
Siemens Energy AG Common Stock Eur0.73%
Teva Pharmaceutical Industries Ltd Common Stock0.68%
Diageo PLC Common Stock Gbp 28.935180.65%
Cie De Saint-Gobain SA Common Stock Eur 40.64%
Dhl AG Common Stock Eur 00.62%
Novo Nordisk A/S Common Stock Dkk 0.10.62%
Pembina Pipeline Corp Common Stock Cad 00.61%
Celestica Inc Common Stock Cad 00.61%
Woolworths Group Ltd Common Stock Aud 00.59%
Deutsche Telekom AG Common Stock Eur 00.58%
Enel Spa Common Stock Eur 10.58%
Nomura Holdings Inc Common Stock Jpy0.58%
Reckitt Benckiser Group PLC Common Stock Gbp0.57%
Bridgestone Corp Common Stock Jpy0.55%
Vodafone Group PLC Common Stock Gbp 0.20952380.54%
Hsbc Holdings PLC Common Stock Gbp 0.50.52%
Anglo American PLC Common Stock Gbp 0.62390.51%
Danske Bank A/S Common Stock Dkk 100.49%
Dollarama Inc Common Stock Cad 00.49%
Natwest Group PLC Common Stock Gbp 107.690.48%
Kinross Gold Corp Common Stock Cad 00.47%
Next PLC Common Stock Gbp 100.47%
Koninklijke Philips NV Common Stock Eur 0.20.43%
Bank of Montreal Common Stock Cad 00.42%
Standard Chartered PLC USD0.40%

Weight gaps

The 100 widest of 105 Holdings in both funds.

Holding weights in DMXF and FEDM, widest gap first
Holding	More in DMXFMore in FEDM	DMXF	FEDM
Asml Holding	DMXF +2.93 points	5.72%	2.79%
Novartis AG	DMXF +1.13 points	2.78%	1.65%
Dbs Group Holdings Ltd	DMXF +1.03 points	1.10%	0.07%
Mitsubishi Ufj Financial Group	DMXF +0.94 points	2.19%	1.25%
Tokyo Electron	DMXF +0.90 points	1.25%	0.35%
Mizuho Financial Group	DMXF +0.82 points	1.07%	0.25%
Ing Groep	DMXF +0.80 points	0.85%	0.05%
Softbank Group Corp	DMXF +0.76 points	0.99%	0.23%
Sap	DMXF +0.74 points	2.23%	1.49%
Allianz	DMXF +0.72 points	1.74%	1.02%
Tokio Marine Holdings	DMXF +0.70 points	0.92%	0.22%
Aia Group	DMXF +0.56 points	0.94%	0.38%
Commonwealth Bank of Australia	DMXF +0.54 points	1.83%	1.29%
Relx PLCREL.L	FEDM +0.52 points	0.66%	1.18%
London Stock Exchange Group PLCLSEG.L	DMXF +0.50 points	0.53%	0.03%
Givaudan SA	FEDM +0.46 points	0.42%	0.88%
Axa SA	DMXF +0.46 points	0.70%	0.24%
Softbank	FEDM +0.43 points	0.40%	0.83%
Fujitsu	FEDM +0.43 points	0.36%	0.79%
Legrand SA	FEDM +0.41 points	0.35%	0.76%
Ucb SA	FEDM +0.38 points	0.36%	0.74%
Hermes International	DMXF +0.35 points	0.47%	0.12%
Hong Kong Exchanges and Clearing	FEDM +0.34 points	0.40%	0.74%
Csl	DMXF +0.34 points	0.63%	0.29%
Sika AG	FEDM +0.34 points	0.31%	0.65%
Tdk	FEDM +0.34 points	0.29%	0.63%
Sompo Holdings	FEDM +0.34 points	0.34%	0.68%
Skandinaviska Enskilda Banken	FEDM +0.34 points	0.28%	0.62%
Aviva PLCAV.L	FEDM +0.33 points	0.27%	0.60%
Kbc Groep	FEDM +0.31 points	0.28%	0.59%
Qbe Insurance Group	FEDM +0.30 points	0.26%	0.56%
Vestas Wind Systems	FEDM +0.29 points	0.26%	0.55%
Amadeus It Group	FEDM +0.29 points	0.25%	0.54%
Transurban Group Stapled Units	FEDM +0.29 points	0.28%	0.57%
Northern Star Resources Ltd	FEDM +0.27 points	0.22%	0.49%
Mitsubishi Estate Co Ltd	FEDM +0.25 points	0.24%	0.49%
Oriental Land	FEDM +0.26 points	0.22%	0.48%
Novozymes B	FEDM +0.25 points	0.23%	0.48%
Capgemini	FEDM +0.25 points	0.20%	0.45%
Svenska Handelsbanken-A Shs	FEDM +0.24 points	0.20%	0.44%
3I Group Fund PLCIII.L	FEDM +0.24 points	0.29%	0.53%
Astellas Pharma	FEDM +0.23 points	0.26%	0.49%
Schneider Electric	DMXF +0.22 points	1.36%	1.14%
Murata Manufacturing	DMXF +0.21 points	0.61%	0.40%
Swisscom AG	FEDM +0.21 points	0.20%	0.41%
Brambles	FEDM +0.20 points	0.19%	0.39%
Deutsche Boerse AG	DMXF +0.21 points	0.62%	0.41%
Swiss Re AG	DMXF +0.20 points	0.49%	0.29%
Sonova Holding AG	FEDM +0.20 points	0.16%	0.35%
Ferrovial NV	DMXF +0.20 points	0.25%	0.05%
Zurich Insurance Group AG	FEDM +0.19 points	1.05%	1.24%
Abn Amro Bank NV	FEDM +0.19 points	0.25%	0.44%
Evolution Mining	FEDM +0.18 points	0.16%	0.34%
Caixabank SA	DMXF +0.17 points	0.41%	0.24%
Recruit Holdings Ltd	DMXF +0.17 points	1.51%	1.34%
Siemens Healthineers AG	FEDM +0.17 points	0.15%	0.32%
Secom	FEDM +0.17 points	0.16%	0.33%
Segro Reit PLCSGRO.L	FEDM +0.16 points	0.14%	0.30%
Nitto Denko	FEDM +0.15 points	0.14%	0.29%
Terna Rete Elettrica Nazionale	FEDM +0.16 points	0.15%	0.31%
Nomura Research Institute	FEDM +0.15 points	0.14%	0.29%
Daimler Truck Holding E AG	DMXF +0.15 points	0.20%	0.05%
Advantest	DMXF +0.15 points	1.52%	1.37%
Nokia	FEDM +0.14 points	0.41%	0.55%
BunzlBNZL.L	FEDM +0.14 points	0.11%	0.25%
Publicis Groupe	FEDM +0.14 points	0.24%	0.38%
Daiwa Securities Group Inc	FEDM +0.14 points	0.14%	0.28%
Asr Nederland	FEDM +0.13 points	0.13%	0.26%
Rentokil Initial PLCRTO.L	FEDM +0.13 points	0.11%	0.24%
Severn Trent PLCSVT.L	FEDM +0.13 points	0.11%	0.24%
Westpac Banking Corporation	DMXF +0.13 points	0.83%	0.70%
Unibail Rodamco We Stapled Units	FEDM +0.13 points	0.10%	0.23%
Akzo Nobel NV	FEDM +0.11 points	0.09%	0.20%
Swedish Orphan Biovitrum	FEDM +0.11 points	0.08%	0.19%
Central Japan Railway	FEDM +0.11 points	0.17%	0.28%
Ly Corp	FEDM +0.09 points	0.08%	0.17%
Skf B	FEDM +0.10 points	0.09%	0.19%
Antofagasta PLCANTO.L	DMXF +0.10 points	0.14%	0.04%
Raiffeisen Bank International AG	FEDM +0.09 points	0.08%	0.17%
Asahi Kasei	FEDM +0.09 points	0.11%	0.20%
Mitsubishi Hc Capital Inc	FEDM +0.08 points	0.07%	0.15%
Symrise AG	FEDM +0.08 points	0.13%	0.21%
Japan Post Holdings Ltd	FEDM +0.08 points	0.22%	0.30%
Capitaland Integrated Commercial T	FEDM +0.07 points	0.11%	0.18%
Rakuten Group	FEDM +0.07 points	0.05%	0.12%
Daiichi Sankyo Ltd	DMXF +0.07 points	0.28%	0.21%
Kubota	FEDM +0.06 points	0.14%	0.20%
Mtr Corporation	FEDM +0.06 points	0.07%	0.13%
Macquarie Group Ltd Def	DMXF +0.05 points	0.61%	0.56%
Epiroc Class A	FEDM +0.05 points	0.14%	0.19%
Sekisui House	FEDM +0.05 points	0.12%	0.17%
United Utilities Group PLCUU.L	FEDM +0.05 points	0.14%	0.19%
Kone	DMXF +0.05 points	0.18%	0.13%
Nippon Paint Holdings	DMXF +0.05 points	0.07%	0.02%
Makita	DMXF +0.05 points	0.07%	0.02%
Kao	FEDM +0.04 points	0.20%	0.24%
Capitaland Investment Ltd	FEDM +0.04 points	0.04%	0.08%
Aena Sme SA	FEDM +0.04 points	0.21%	0.25%
Wolters Kluwer	DMXF +0.03 points	0.21%	0.18%
Daifuku	DMXF +0.02 points	0.10%	0.08%

All 393 DMXF holdings⁠All 255 FEDM 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.

DMXF vs FEDM Cost

Same expense ratio

$2,520

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

DMXF 0.12%
$2,520
FEDM 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

DMXF 0.12%
FEDM 0.12%

Year by year

Year	DMXF	FEDM
10	$220	$220
20	$859	$859
30	$2,520	$2,520

Expense ratio

0.12%DMXF
0.12%FEDM

DMXF0.12%FEDM0.12%

0.10%0.95%

Middle half of International ESG & Values Index funds
Median 0.23%

DMXF 2nd cheapest of 18 funds

FEDM 2nd cheapest of 18 funds

DMXF vs FEDM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DMXF 4.22%, better; FEDM 2.88%
Payout (12M): DMXF $3.54; FEDM $1.86
Last payment: DMXF $1.03; FEDM $0.26
Ex-dividend: DMXF Jun 15, 2026; FEDM Sep 18, 2026
Paid on: DMXF Jun 18, 2026; FEDM Sep 24, 2026
Frequency: DMXF Twice a year; FEDM Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

DMXFTwice a year · 13 paymentsAll DMXF payments⁠

FEDMQuarterly · 20 paymentsAll FEDM payments⁠

DMXF vs FEDM Risk

Fall from peak · 5 years

DMXF
FEDM

Risk facts

VolatilityStd dev, 3 years: DMXF 12.8%FEDM 11.8%, better
Return per unit of riskSharpe ratio, 3 years: DMXF 1.06FEDM 1.14, better
Worst fallMax drawdown, 5 years: DMXF −33.7%FEDM −29.4%, better
Market sensitivityBeta, 5 years: DMXF 0.86FEDM 0.91; Market = 1

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