EEMA vs VEXC: Grades, Fees and Holdings Compared

iShares MSCI Emerging Markets Asia ETF

EEMABNasdaq

Vanguard Emerging Markets Ex-China ETF

VEXCANYSE Arca

Overlap

44.6%by weight

Expense ratio

VEXC −0.42pt a year

EEMA0.49%VEXC0.07%

Avg volume · 30D

EEMA 4.8×the volume

EEMA101KVEXC21.2K

EEMA vs VEXC Performance

Oct 31, 2025 – Oct 30, 2026

+12.0%EEMA+15.9%VEXC

Expense ratio: EEMA 0.49%; VEXC 0.07%, better
Fund size: EEMA $784M; VEXC $276M
1Y total return: EEMA +12.0%; VEXC +15.9%, better
Yield (12M): EEMA 1.46%; VEXC No data
Holdings: EEMA 909; VEXC 1008
Avg volume (30D): EEMA 101K sh, better; VEXC 21.2K sh
NAV per share: EEMA $105.98; VEXC $89.18
52W range

ETF.net Grade

Pillar letters and Scores for EEMA, VEXC, with each pillar’s weight
Pillar	EEMA	VEXC
Cost30% weight	C45	A100Higher
Mission25% weight	A100Higher	A93
Risk15% weight	B55	A85Higher
Tradability15% weight	A84Higher	B65
Holdings10% weight	C52Higher	D38
Durability5% weight	A84Higher	B57

Rank among Emerging Markets Stocks funds

How we build Categories ›

Same Category. EEMA and VEXC are both graded against the same 20 Emerging Markets Stocks funds, so their Grades compare head to head.

Emerging Markets Stocks⁠

Category · 20 funds

See all 20 ›

VEXC ranks 1st and EEMA 5th of 20 funds in the Emerging Markets Stocks Category.

Rank 1AVEXCVanguard Emerging Markets Ex-China ETFScore 82
Rank 2AXCEMColumbia EM Core ex-China ETFScore 78
Rank 4AXSOEWisdomTree Emerging Markets ex-State-Owned Enterprises FundScore 71
Rank 5BEEMAiShares MSCI Emerging Markets Asia ETFScore 68
Rank 5BKEMXKraneShares MSCI Emerging Markets ex China Index ETFScore 68

Our read on each fund

ETF.net Research

EEMABiShares MSCI Emerging Markets Asia ETF

VEXCAVanguard Emerging Markets Ex-China ETF

In short

EEMA Emerging markets, minus the detour. EEMA owns the Asian engine room (China, Taiwan, Korea, India) and skips Latin America and EMEA entirely, spread across roughly 900 large- and mid-cap names with caps on the giants.

VEXC Vanguard's emerging markets, China removed. Same index-tracking discipline, 0.07% a year, a fraction of what the typical EM fund charges. Ex-China is no longer a niche idea; this is the cheap way to own it.

Stated mandate

EEMA The fund seeks to track an index of large- and mid-cap equities from emerging Asian countries, providing diversified exposure to Asian emerging-market equities.

VEXC The fund invests in emerging-market stocks while excluding China and seeks to closely track the FTSE Emerging ex China Index.

Why people hold it

EEMA Pure emerging Asia: the index covers only EM Asian countries, so Taiwan, China, Korea and India carry the fund without Brazil or Saudi Arabia riding along.ishares.com
The MSCI EM Asia Custom Capped Index limits any single issuer to 25% and all 5%-plus names to 25% combined, so one mega-cap chipmaker cannot quietly become the whole fund.mutualfunds.com
Running since 2012 and holding roughly 900 large- and mid-cap stocks, it hews closely to the mandate on the tin and sits in the upper half of its emerging-markets peer group.

VEXC Charges 0.07% a year against a 0.49% median for emerging-markets funds, and undercuts the other top-graded names in the group, including XCEM at 0.16% and BKEM at 0.11%.
Rules-based, not opinion-based: it tracks the FTSE Emerging ex China Index, so the China carve-out is written into the mandate rather than left to a manager's discretion.vanguard.com
Splitting China out of emerging markets puts the sizing decision in your hands instead of accepting whatever weight a broad EM index assigns. Pays quarterly.vanguard.com
Ranks among the strongest implementations in its emerging-markets peer group on the things we measure: cost, mandate clarity, index discipline.

Worth knowing

EEMA The 0.49% fee lands at the median for emerging-markets funds, while broad EM trackers like VEXC (0.07%) and BKEM (0.11%) charge a fraction of that.
Asia-only means China and Taiwan do the heavy lifting. Peers such as XCEM and VEXC strip China out; this one leans in.
Mid-sized and moderately traded rather than a mega-fund, so spreads can run wider than on the largest EM ETFs. It also distributes infrequently, not monthly.

VEXC Launched in 2025 and still thinly traded, so it lacks the trading heft of the giant EM funds. Spreads can be wider than the Vanguard name suggests.
Excluding an entire country by rule means results will drift away from broad EM funds, in both directions, depending on how China does.
The remaining basket screens more concentrated than most funds in the category, so a handful of countries and sectors drive much of the outcome.

Full EEMA profile⁠

Full VEXC profile⁠

EEMA vs VEXC Holdings

How EEMA and VEXC differ

Overlap by weight

44.6%

Shared holdings make up 59.1% of VEXC and 45.0% of EEMA.

Level by level

Holdings199 in both44.6%
Countryby domicile51.8%
Asset classEquity100%

Sector

No Sector split for VEXC.

Country, concentration and asset class

Country by domicile

Country weights in EEMA and VEXC, widest gap first
Country	More in EEMAMore in VEXC	EEMA	VEXC
China	EEMA +28.9 points	28.9%	0.0%
South Korea	EEMA +19.3 points	19.3%	0.0%
South Africa	VEXC +15.5 points	0.0%	15.5%
Taiwan	VEXC +14.8 points	33.6%	48.4%
Brazil	VEXC +6.1 points	0.0%	6.1%
India	VEXC +5.0 points	15.5%	20.5%
Mexico	VEXC +2.8 points	0.0%	2.8%
Indonesia	VEXC +0.9 points	0.0%	0.9%
Other countries (6)	VEXC +3.2 points	2.7%	5.9%

Outside the US: EEMA 0% developed, 100% emerging. VEXC 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EEMA38.0%
VEXC35.5%

Securities held

EEMA898
VEXC987

Asset class

EEMA: Equity
VEXC: Equity

Holdings

Only in EEMA699
In both199
Only in VEXC788

Only in EEMA

699 securities, 54.8% of EEMA by weight

Samsung Electronics Ltd6.02%
Sk Hynix4.00%
Tencent Holdings3.22%
Alibaba Group Holding2.23%
China Construction Bank Corp H1.20%
Reliance Industries Ltd0.77%
Industrial and Commercial Bank of0.71%
Sk Square0.67%
Xiaomi0.62%
Bank of China Ltd H0.58%
Samsung Electro Mechanics Ltd0.55%
Meituan0.50%
Pdd Holdings Ads0.44%
Netease0.43%
Kb Financial Group0.43%
Ping An Insurance (Group) Co of Ch0.41%
Byd H0.35%
Jd.com Class A0.33%
Petrochina H0.32%
Shinhan Financial Group0.31%
Hyundai Motor0.31%
Larsen and Toubro Ltd0.30%
China Merchants Bank H0.29%
Samsung Sdi Ltd0.28%
Hana Financial Group0.27%
Agricultural Bank of China H0.26%
China Life Insurance Ltd H0.26%
Beone Medicines AG0.25%
Trip.com Group0.25%
Zijin Mining Group Ltd H0.25%
Celltrion0.25%
Tata Consultancy Services Ltd0.24%
Baidu0.23%
Wuxi Biologics Cayman0.21%
Samsung C&T Corp0.21%
State Bank of India0.21%
Lenovo Group0.21%
China Shenhua Energy Ltd H0.21%
Doosan Enerbility Ltd0.20%
Delta Electronics (Thailand) Non-V0.20%
Naver0.20%
Hanwha Aerospace Ltd0.20%
Kweichow Moutai A0.20%
Kia Corporation0.19%
Samsung Life Ltd0.18%
Yum China Holdings Inc0.17%
Woori Financial Group Inc0.17%
Posco0.17%
Samsung Fire & Marine Insurance Lt0.17%
Ntpc Ltd0.17%

Only in VEXC

788 securities, 40.7% of VEXC by weight

Reliance Industries Ltd1.07%
Al Rajhi Bank0.64%
Vale SA0.62%
Anglogold Ashanti Plc0.60%
Itau Unibanco Holding S-Pref0.59%
Petrobras - Petroleo Bras-Pr0.55%
Saudi Arabian Oil Co0.51%
Petroleo Brasileiro SA - Petrobras0.50%
Grupo Mexico SAB de CV0.46%
Gold Fields Ltd0.42%
Naspers Ltd0.41%
Saudi National Bank/The0.40%
Kuwait Finance House KSCP0.39%
OTP Bank Nyrt0.38%
FirstRand Ltd0.38%
Emaar Properties PJSC0.36%
Larsen & Toubro Ltd0.34%
Grupo Financiero Banorte SAB de CV0.33%
First Abu Dhabi Bank PJSC0.31%
National Bank of Kuwait SAKP0.30%
Standard Bank Group Ltd0.30%
Capitec Limited0.30%
Saudi Arabian Mining Co0.29%
Tata Consultancy Services Ltd0.28%
Saudi Telecom Co0.28%
Nanya Technology Corp0.27%
Valterra Platinum Ltd0.27%
Emirates Telecommunications Group Co PJSC0.26%
Fomento Economico Mexicano SAB de CV0.26%
MTN Group Ltd0.24%
Qatar National Bank QPSC0.24%
Banco Bradesco Sa-Pref0.24%
State Bank of India0.24%
B3 SA - Brasil Bolsa Balcao0.23%
Winbond Electronics Corp0.22%
Itausa SA - Preferred Shares0.21%
America Movil SAB de CV0.21%
NTPC Ltd0.20%
Emirates NBD Bank PJSC0.20%
Eternal Ltd0.20%
Ptt Pcl/Foreign0.19%
SLCMT11420.19%
Banco BTG Pactual SA0.19%
Cemex SAB de CV0.19%
Abu Dhabi Commercial Bank PJSC0.19%
Weg SA0.18%
Axia Energia SA0.18%
Adani Ports & Special Economic Zone Ltd0.18%
Embraer SA0.17%
Wal-Mart de Mexico SAB de CV0.16%

Weight gaps

The 100 widest of 199 Holdings in both funds.

Holding weights in EEMA and VEXC, widest gap first
Holding	More in EEMAMore in VEXC	EEMA	VEXC
Taiwan Semiconductor Manufacturing	VEXC +7.77 points	16.64%	24.41%
Mediatek	VEXC +1.03 points	1.88%	2.91%
Delta Electronics	VEXC +0.87 points	0.88%	1.75%
United Micro Electronics Corp	VEXC +0.31 points	0.42%	0.73%
Hon Hai Precision Industry	VEXC +0.24 points	0.99%	1.23%
Ase Technology Holding	VEXC +0.18 points	0.76%	0.94%
Hdfc Bank	VEXC +0.17 points	0.91%	1.08%
Unimicron Technology	VEXC +0.16 points	0.46%	0.62%
Elite Material	VEXC +0.12 points	0.46%	0.58%
Bharti Airtel Ltd	VEXC +0.10 points	0.63%	0.73%
Tenaga Nasional	VEXC +0.10 points	0.09%	0.19%
Malayan Banking	VEXC +0.10 points	0.14%	0.24%
Chroma Ate	VEXC +0.10 points	0.22%	0.32%
Yageo	VEXC +0.08 points	0.27%	0.35%
Mahindra and Mahindra Ltd	VEXC +0.08 points	0.29%	0.37%
Bajaj Finance Ltd	VEXC +0.08 points	0.27%	0.35%
King Slide Works	VEXC +0.08 points	0.19%	0.27%
Asia Vital Components	VEXC +0.08 points	0.36%	0.44%
Ts Financial Holding	VEXC +0.08 points	0.32%	0.40%
Bizlink Holding Inc	VEXC +0.08 points	0.11%	0.19%
Adani Power Ltd	VEXC +0.07 points	0.08%	0.15%
Ctbc Financial Holding	VEXC +0.07 points	0.42%	0.49%
Wiwynn Corporation	VEXC +0.07 points	0.19%	0.26%
Accton Technology	VEXC +0.07 points	0.28%	0.35%
Sun Pharmaceutical Industries	VEXC +0.07 points	0.19%	0.26%
Hindustan Unilever Ltd	VEXC +0.07 points	0.16%	0.23%
Cathay Financial Holding	VEXC +0.06 points	0.37%	0.43%
Bank Central Asia	VEXC +0.06 points	0.15%	0.21%
Cimb Group Holdings	VEXC +0.06 points	0.15%	0.21%
Infosys	VEXC +0.06 points	0.42%	0.48%
Coal India	VEXC +0.06 points	0.08%	0.14%
Lite On Technology	VEXC +0.06 points	0.16%	0.22%
Adani Enterprises	VEXC +0.05 points	0.07%	0.12%
Icici Bank	VEXC +0.06 points	0.88%	0.94%
Largan Precision Ltd	VEXC +0.05 points	0.17%	0.22%
Yuanta Financial Holding	VEXC +0.06 points	0.26%	0.32%
International Container Terminal’sICTEF	VEXC +0.05 points	0.15%	0.20%
Quanta Computer	VEXC +0.05 points	0.30%	0.35%
Hindalco Industries Ltd	VEXC +0.04 points	0.14%	0.18%
Aspeed Technology	VEXC +0.04 points	0.21%	0.25%
Kgi Financial Holding	VEXC +0.05 points	0.20%	0.25%
Shriram Finance Ltd	VEXC +0.04 points	0.14%	0.18%
Tata Steel Ltd	VEXC +0.05 points	0.15%	0.20%
Fubon Financial Holding	VEXC +0.05 points	0.46%	0.51%
Innolux Corp	VEXC +0.05 points	0.11%	0.16%
Sinopac Financial Holdings	VEXC +0.04 points	0.19%	0.23%
Axis Bank	VEXC +0.04 points	0.34%	0.38%
Maruti Suzuki India Ltd	VEXC +0.04 points	0.16%	0.20%
Ultratech Cement Ltd	VEXC +0.04 points	0.14%	0.18%
Jentech Precision Industrial Ltd	VEXC +0.04 points	0.20%	0.24%
Bank Rakyat Indonesia (Persero)	VEXC +0.04 points	0.11%	0.15%
Titan Company Ltd	VEXC +0.04 points	0.19%	0.23%
Nestle India Ltd	VEXC +0.04 points	0.09%	0.13%
Asustek Computer Inc	VEXC +0.04 points	0.22%	0.26%
Asian Paints	VEXC +0.04 points	0.11%	0.15%
Multi Commodity Exchange of India	VEXC +0.04 points	0.02%	0.06%
Nan Ya Plastics Corp	VEXC +0.04 points	0.47%	0.51%
Mpi Corp	VEXC +0.04 points	0.14%	0.18%
Ihh Healthcare	VEXC +0.03 points	0.05%	0.08%
Sd Guthrie	VEXC +0.04 points	0.04%	0.08%
True Corporation Non-Voting Dr	EEMA +0.03 points	0.06%	0.03%
Bharat Electronics Ltd	VEXC +0.03 points	0.16%	0.19%
Bank Mandiri (Persero)	VEXC +0.03 points	0.09%	0.12%
Bse Ltd	VEXC +0.03 points	0.05%	0.08%
Gold Circuit Electronics	VEXC +0.03 points	0.13%	0.16%
E.sun Financial Holding	VEXC +0.03 points	0.26%	0.29%
King Yuan Electronics	VEXC +0.02 points	0.11%	0.13%
Far Eastone Telecommunications Ltd	EEMA +0.03 points	0.10%	0.07%
Chunghwa Telecom Ltd	VEXC +0.02 points	0.20%	0.22%
Zhen Ding Technology Holding Ltd	VEXC +0.02 points	0.14%	0.16%
Global Unichip	VEXC +0.02 points	0.24%	0.26%
Yes Bank	VEXC +0.02 points	0.03%	0.05%
Alchip Technologies	VEXC +0.02 points	0.11%	0.13%
Public Bank	VEXC +0.02 points	0.20%	0.22%
Vanguard International Semiconduct	VEXC +0.02 points	0.07%	0.09%
Indian Oil Corp	VEXC +0.02 points	0.05%	0.07%
Wan Hai Lines	VEXC +0.02 points	0.04%	0.06%
Globalwafers Ltd	VEXC +0.01 points	0.09%	0.10%
Hindustan Aeronautics Ltd	VEXC +0.02 points	0.10%	0.12%
Hcl Technologies Ltd	VEXC +0.02 points	0.15%	0.17%
Divis Laboratories Ltd	VEXC +0.02 points	0.14%	0.16%
Gigabyte Technology Ltd	VEXC +0.02 points	0.06%	0.08%
Mega Financial Holding Ltd	VEXC +0.01 points	0.22%	0.23%
Hero Motocorp Ltd	VEXC +0.01 points	0.08%	0.09%
Dr Reddys Laboratories	VEXC +0.01 points	0.09%	0.10%
Samvardhana Motherson Internationa	VEXC +0.02 points	0.08%	0.10%
Bharat Forge	VEXC +0.01 points	0.06%	0.07%
Pegatron	EEMA +0.01 points	0.08%	0.07%
Wistron	VEXC +0.01 points	0.21%	0.22%
Eicher Motors Ltd	VEXC +0.01 points	0.12%	0.13%
Petronet Lng	EEMA +0.01 points	0.04%	0.03%
Advantech	VEXC +0.01 points	0.12%	0.13%
Suzlon Energy	VEXC +0.01 points	0.05%	0.06%
Cummins India Ltd	VEXC +0.01 points	0.08%	0.09%
Taiwan Mobile	EEMA +0.01 points	0.08%	0.07%
Honprecision Inc	EEMA +0.01 points	0.14%	0.13%
Telekomunikasi Indonesia	VEXC +0.01 points	0.06%	0.07%
Uni-President Enterprises	VEXC +0.01 points	0.14%	0.15%
Union Bank of India Ltd	EEMA +0.01 points	0.05%	0.04%
Ambuja Cements Ltd	VEXC +0.01 points	0.03%	0.04%

All 899 EEMA holdings⁠All VEXC 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.

EEMA vs VEXC Cost

Overpaying EEMA vs VEXC

$8,312

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

EEMA 0.49%
$9,792
VEXC 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

EEMA 0.49%
VEXC 0.07%
Overpaying

Year by year

Year	EEMA	VEXC	Overpaying
10	$883	$128	$755
20	$3,394	$503	$2,891
30	$9,792	$1,480	$8,312

Expense ratio

0.49%EEMA
0.07%VEXC, cheaper

VEXC0.07%EEMA0.49%

0.07%0.91%

Middle half of Emerging Markets Stocks funds
Median 0.45%

VEXC cheapest of 20 funds

EEMA 12th cheapest of 20 funds

EEMA vs VEXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EEMA 1.46%; VEXC No data
Payout (12M): EEMA $1.54; VEXC No data
Last payment: EEMA $0.34; VEXC $0.54
Ex-dividend: EEMA Jun 15, 2026; VEXC Sep 18, 2026
Paid on: EEMA Jun 18, 2026; VEXC Sep 22, 2026
Frequency: EEMA Twice a year; VEXC Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EEMATwice a year · 19 paymentsAll EEMA payments⁠

VEXCQuarterly · 4 paymentsAll VEXC payments⁠

EEMA vs VEXC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EEMA 17.2%VEXC 19.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years: EEMA 1.01VEXC 0.65since Nov 2025
Worst fallMax drawdown, 5 years: EEMA −36.4%VEXC −12.4%since Oct 2025
Market sensitivityBeta, 5 years: EEMA 1.07VEXC 1.14; Market = 1

EEMA and VEXC in the news

All news⁠

First-Year Review
Vanguard Emerging Markets ex-China returned 27.4%; iShares MSCI ex China returned 48.6%
Oct 1, 2026VEXC
Deep Dive
Korea's 3.9% drop split two kinds of emerging-markets fund
Sep 20, 2026VEXC
Deep Dive
Korea funds gained 94% this year. China internet funds lost 28%
Sep 13, 2026VEXC
Deep Dive
Two $160 billion EM funds are 11 percentage points apart. Korea is why
Sep 5, 2026VEXC

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