EEMO vs PXH: Grades, Fees and Holdings Compared

Invesco S&P Emerging Markets Momentum ETF

EEMOCNYSE Arca

Invesco RAFI Emerging Markets ETF

PXHBNYSE Arca

Overlap

23.9%by weight

Expense ratio

EEMO −0.18pt a year

EEMO0.29%PXH0.47%

Avg volume · 30D

PXH 2.3×the volume

EEMO94.5KPXH221K

10Y return · a year

PXH +4.2pt

EEMO+4.3%PXH+8.5%

EEMO vs PXH Performance

Nov 5, 2021 – Nov 5, 2026

+6.5%EEMO+55.4%PXH

Expense ratio: EEMO 0.29%, better; PXH 0.47%
Fund size: EEMO $57M; PXH $1.95B
1Y total return: EEMO −5.1%; PXH +10.5%, better
Yield (12M): EEMO 2.33%; PXH 4.22%, better
Holdings: EEMO 211; PXH 365
Avg volume (30D): EEMO 94.5K sh; PXH 221K sh, better
NAV per share: EEMO $19.03; PXH $28.20
52W range

ETF.net Grade

Pillar letters and Scores for EEMO, PXH, with each pillar’s weight
Pillar	EEMO	PXH
Cost30% weight	A78Higher	C44
Mission25% weight	Not scored	Not scored
Risk15% weight	F11	B63Higher
Tradability15% weight	F24	A77Higher
Holdings10% weight	D26	B55Higher
Durability5% weight	C54	A76Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. EEMO 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 EEMO 6th of 10 funds in the Emerging Markets Factor Index Category.

Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 79
Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 68
Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 65
Rank 4BPXHInvesco RAFI Emerging Markets ETFScore 57
Rank 5CBLESInspire Global Hope ETFScore 50
Rank 6CEEMOInvesco S&P Emerging Markets Momentum ETFScore 45
Rank 7CDEHPDimensional Emerging Markets High Profitability ETFScore 42

Our read on each fund

ETF.net Research

EEMOCInvesco S&P Emerging Markets Momentum ETF

PXHBInvesco RAFI Emerging Markets ETF

In short

EEMO A momentum screen pointed at emerging markets. EEMO tracks an S&P index that favors EM large and mid caps with the strongest recent price trends, roughly 300 names, and it has been running that playbook since 2012.

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

EEMO The Fund seeks to track, before fees and expenses, the S&P Momentum Emerging Plus LargeMidCap Index. It generally invests at least 90% of total assets in securities comprising the index, including qualifying depositary receipts.

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

Why people hold it

EEMO The mandate leaves little to interpretation: at least 90% of assets in the S&P Momentum Emerging Plus LargeMidCap Index. You know exactly which screen is picking the names.
0.29% a year, below the typical index-tracking fund in its peer cohort. Cheap for a factor strategy operating in emerging markets.
Launched in 2012, so the momentum rules have been running through more than a decade of EM cycles rather than a single backtest.
Roughly 300 large and mid cap holdings across emerging markets, so the momentum tilt is expressed broadly instead of through a short list of recent winners.

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

EEMO A small, lightly traded fund. That usually shows up as wider bid-ask spreads, meaning more of your cost lands at the moment you trade rather than in the expense ratio.
Momentum buys what has already climbed. Layer that on emerging markets and country, sector, and currency swings can get sharp, with turnover each time the index reshuffles.
Income is a byproduct here, not the design. Distributions land quarterly and depend on whatever the momentum screen happens to hold at the time.

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 EEMO profile⁠

Full PXH profile⁠

EEMO vs PXH Holdings

How EEMO and PXH differ

Overlap by weight

23.9%

Shared holdings make up 47.3% of EEMO and 31.1% of PXH.

Level by level

Holdings66 in both23.9%
Countryby domicile46.8%
Sector11 Sectors58.1%
Asset classStocks100%

Sector

Sector weights in EEMO and PXH, widest gap first
Sector	Gap	EEMO	PXH
Technology	EEMO +41.9 points	61.9%	20.0%
Financials	PXH +9.6 points	18.7%	28.3%
Energy	PXH +9.4 points	3.0%	12.5%
Consumer Discretionary	PXH +7.5 points	2.8%	10.3%
Communication	PXH +5.1 points	0.8%	5.9%
Materials	PXH +4.3 points	6.1%	10.4%
Industrials	PXH +1.8 points	3.3%	5.1%
Consumer Staples	PXH +1.7 points	1.1%	2.9%
Real Estate	PXH +1.3 points	0.1%	1.5%
Utilities	PXH +1.0 points	1.1%	2.1%
Health Care	Same weight	1.0%	1.0%

Country, concentration and asset class

Country by domicile

Country weights in EEMO and PXH, widest gap first
Country	Gap	EEMO	PXH
China	PXH +33.3 points	3.2%	36.5%
South Korea	EEMO +28.6 points	28.7%	0.1%
Taiwan	EEMO +21.2 points	47.6%	26.4%
India	PXH +6.0 points	4.0%	10.0%
Brazil	PXH +5.9 points	4.8%	10.7%
South Africa	PXH +3.2 points	2.9%	6.1%
Mexico	PXH +1.9 points	1.3%	3.2%
Poland	EEMO +1.5 points	1.5%	0.0%
Other countries (10)	PXH +0.9 points	6.1%	7.0%

Outside the US: EEMO 0% developed, 100% emerging. PXH 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

EEMO47.1%
PXH27.8%

Securities held

EEMO205
PXH359

Asset class

EEMO: Stocks
PXH: Stocks

Holdings

Only in EEMO139
In both66
Only in PXH293

Only in EEMO

139 securities, 52.9% of EEMO by weight

SK hynix Inc8.67%
Samsung Electronics Co Ltd8.64%
Samsung Electronics Co Ltd3.49%
SK Square Co Ltd2.55%
Samsung Electro-Mechanics Co Ltd1.95%
Elite Material Co Ltd1.93%
Nanya Technology Corp0.85%
OTP Bank Nyrt0.84%
Asia Vital Components Co Ltd0.79%
Chroma ATE Inc0.74%
Petroleo Brasileiro SA - Petrobras0.69%
Orlen SA0.63%
King Slide Works Co Ltd0.61%
Global Unichip Corp0.60%
Credicorp Ltd0.59%
ASPEED Technology Inc0.57%
Accton Technology Corp0.55%
Delta Electronics Thailand PCL0.54%
Hon Precision Inc0.53%
PharmaEssentia Corp0.49%
Shinhan Financial Group Co Ltd0.48%
Powszechna Kasa Oszczednosci Bank Polski SA0.46%
Hyundai Motor Co0.46%
MPI Corp0.45%
Titan Co Ltd0.42%
Hana Financial Group Inc0.40%
Samsung Life Insurance Co Ltd0.40%
Jentech Precision Industrial Co Ltd0.39%
Southern Copper Corp0.38%
Wiwynn Corp0.38%
SK Inc0.38%
Laurus Labs Ltd0.35%
Nan Ya Printed Circuit Board Corp0.35%
Samsung C&T Corp0.35%
Itausa SA0.31%
Millicom International Cellular SA0.30%
Phison Electronics Corp0.28%
KGHM Polska Miedz SA0.28%
Gulf Development PCL0.25%
Grupo Cibest SA0.24%
Powerchip Semiconductor Manufacturing Corp0.24%
TVS Motor Co Ltd0.24%
Eicher Motors Ltd0.23%
LS Electric Co Ltd0.22%
Adani Power Ltd0.21%
Gold Circuit Electronics Ltd0.21%
Bizlink Holding Inc0.21%
Federal Bank Ltd0.21%
Advantech Co Ltd0.21%
SITC International Holdings Co Ltd0.20%

Only in PXH

293 securities, 68.5% of PXH by weight

Alibaba Group Holding Ltd3.16%
China Construction Bank Corp2.92%
Hon Hai Precision Industry Co Ltd2.56%
Tencent Holdings Ltd2.27%
JD.com Inc1.72%
Bank of China Ltd1.66%
Ping An Insurance Group Co of China Ltd1.38%
PetroChina Co Ltd1.19%
Reliance Industries Ltd1.06%
China Petroleum & Chemical Corp1.01%
China Merchants Bank Co Ltd0.96%
PDD Holdings Inc0.81%
Ptt Pcl0.79%
HDFC Bank Ltd0.76%
Agricultural Bank of China Ltd0.74%
Evergreen Marine Corp Taiwan Ltd0.73%
ICICI Bank Ltd0.69%
Saudi Arabian Oil Co0.62%
Infosys Ltd0.59%
Xiaomi Corp0.59%
Meituan0.57%
Grupo Financiero Banorte SAB de CV0.54%
Baidu Inc0.51%
Asustek Computer Inc0.50%
America Movil SAB de CV0.49%
China Shenhua Energy Co Ltd0.49%
Valterra Platinum Ltd0.48%
NetEase Inc0.44%
Bank of Communications Co Ltd0.44%
PICC Property & Casualty Co Ltd0.41%
FirstRand Ltd0.40%
MTN Group Ltd0.40%
Banco Bradesco SA0.40%
China Resources Land Ltd0.39%
Banco do Brasil SA0.39%
COSCO SHIPPING Holdings Co Ltd0.38%
BYD Co Ltd0.37%
Formosa Plastics Corp0.36%
Cemex SAB de CV0.35%
BOC Hong Kong Holdings Ltd0.35%
Quanta Computer Inc0.34%
Chunghwa Telecom Co Ltd0.33%
Industrial Bank Co Ltd0.33%
Wistron Corp0.33%
AUO Corp0.33%
China CITIC Bank Corp Ltd0.32%
Axis Bank Ltd0.32%
Tata Steel Ltd0.32%
Postal Savings Bank of China Co Ltd0.32%
ITC Ltd0.31%

Weight gaps

All 66 Holdings in both funds, largest gap first.

Holding weights in EEMO and PXH, widest gap first
Holding	Gap	EEMO	PXH
Taiwan Semiconductor Manufacturing Co Ltd	EEMO +3.92 points	9.37%	5.45%
MediaTek Inc	EEMO +3.71 points	5.30%	1.59%
Petroleo Brasileiro SA - Petrobras	PXH +3.45 points	0.75%	4.20%
Delta Electronics Inc	EEMO +2.19 points	2.44%	0.25%
ASE Technology Holding Co Ltd	EEMO +2.04 points	2.74%	0.70%
Unimicron Technology Corp	EEMO +1.39 points	1.63%	0.24%
TS Financial Holding Co Ltd	EEMO +1.02 points	1.29%	0.27%
Nan Ya Plastics Corp	EEMO +0.99 points	1.86%	0.87%
Yuanta Financial Holding Co Ltd	EEMO +0.92 points	1.22%	0.30%
Yageo Corp	EEMO +0.89 points	1.06%	0.17%
Vale SA	PXH +0.80 points	0.91%	1.71%
Industrial & Commercial Bank of China LtdIDCBF	PXH +0.72 points	1.46%	2.18%
CTBC Financial Holding Co Ltd	EEMO +0.65 points	1.13%	0.48%
Fubon Financial Holding Co Ltd	EEMO +0.60 points	1.15%	0.55%
United Microelectronics Corp	EEMO +0.55 points	1.24%	0.69%
SinoPac Financial Holdings Co Ltd	EEMO +0.50 points	0.65%	0.15%
Winbond Electronics Corp	EEMO +0.45 points	0.57%	0.12%
Cathay Financial Holding Co Ltd	EEMO +0.45 points	0.88%	0.43%
Capitec Limited	EEMO +0.42 points	0.49%	0.07%
Sasol Ltd	PXH +0.40 points	0.17%	0.57%
KGI Financial Holding Co Ltd	EEMO +0.38 points	0.65%	0.27%
Grupo Mexico SAB de CV	EEMO +0.37 points	0.86%	0.49%
Hua Nan Financial Holdings Co Ltd	EEMO +0.24 points	0.38%	0.14%
Gerdau SA	PXH +0.21 points	0.13%	0.34%
Bangkok Bank PCL	PXH +0.21 points	0.06%	0.27%
Scb X Pcl	PXH +0.20 points	0.08%	0.28%
Shriram Finance Ltd	EEMO +0.19 points	0.29%	0.10%
Standard Bank Group Ltd	EEMO +0.19 points	0.57%	0.38%
Zhen Ding Technology Holding Ltd	EEMO +0.16 points	0.36%	0.20%
Vibra Energia SA	PXH +0.16 points	0.16%	0.32%
Fomento Economico Mexicano SAB de CV	PXH +0.15 points	0.42%	0.57%
Public Bank Bhd	EEMO +0.15 points	0.34%	0.19%
Advanced Info Service PCL	EEMO +0.15 points	0.24%	0.09%
Mega Financial Holding Co Ltd	EEMO +0.13 points	0.36%	0.23%
First Financial Holding Co Ltd	EEMO +0.12 points	0.30%	0.18%
Banco de Chile	EEMO +0.11 points	0.23%	0.12%
Formosa Chemicals & Fibre Corp	PXH +0.11 points	0.17%	0.28%
Turkiye Petrol Rafinerileri AS	PXH +0.10 points	0.17%	0.27%
Yangzijiang Shipbuilding Holdings Ltd	EEMO +0.10 points	0.20%	0.10%
Itau Unibanco Holding SA	EEMO +0.09 points	0.70%	0.61%
Eregli Demir ve Celik Fabrikalari TAS	PXH +0.09 points	0.04%	0.13%
Jiangxi Copper Co Ltd	PXH +0.08 points	0.08%	0.16%
Thai Oil PCL	PXH +0.08 points	0.04%	0.12%
Bajaj Auto Ltd	EEMO +0.08 points	0.16%	0.08%
WPG Holdings Ltd	PXH +0.07 points	0.10%	0.17%
Kasikornbank PCL	PXH +0.06 points	0.28%	0.34%
State Bank of India	PXH +0.06 points	0.32%	0.38%
Absa Group Ltd	PXH +0.05 points	0.19%	0.24%
Krung Thai Bank PCL	EEMO +0.05 points	0.19%	0.14%
CMOC Group Ltd	EEMO +0.04 points	0.11%	0.07%
Ultrapar Participacoes SA	PXH +0.04 points	0.13%	0.17%
BIM Birlesik Magazalar AS	PXH +0.04 points	0.11%	0.15%
Axia Energia SA	EEMO +0.03 points	0.25%	0.22%
Sinotruk Hong Kong LtdSHKLF	PXH +0.03 points	0.06%	0.09%
Hindalco Industries Ltd	PXH +0.02 points	0.27%	0.29%
Weichai Power Co Ltd	PXH +0.02 points	0.14%	0.16%
Cia Paranaense de Energia - Copel	EEMO +0.02 points	0.10%	0.08%
Vedanta Ltd	EEMO +0.02 points	0.10%	0.08%
TMBThanachart Bank PCL	EEMO +0.02 points	0.12%	0.10%
Sociedad Quimica y Minera de Chile SA	EEMO +0.01 points	0.16%	0.15%
Powertech Technology Inc	PXH +0.01 points	0.09%	0.10%
Ambev SA	PXH +0.01 points	0.20%	0.21%
Far EasTone Telecommunications Co Ltd	EEMO +0.01 points	0.11%	0.10%
Innolux Corp	PXH +0.01 points	0.41%	0.42%
SinoPac Financial Holdings Co Ltd 11/06/2026	Same weight	<0.01%	<0.01%
Lenovo Group Ltd	Same weight	0.52%	0.52%

All 203 EEMO 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.

EEMO vs PXH Cost

Overpaying PXH vs EEMO

$3,466

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

EEMO 0.29%
$5,952
PXH 0.47%
$9,418

Amount$10,000

Years30 years

Cost over time

EEMO 0.29%
PXH 0.47%
Overpaying

Year by year

Year	EEMO	PXH	Overpaying
10	$527	$847	$320
20	$2,044	$3,261	$1,217
30	$5,952	$9,418	$3,466

Expense ratio

0.29%EEMO, cheaper
0.47%PXH

EEMO0.29%PXH0.47%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

EEMO 2nd cheapest of 10 funds

PXH 6th cheapest of 10 funds

EEMO vs PXH Dividends

Last 12 months to Nov 5, 2026

Yield (12M): EEMO 2.33%; PXH 4.22%, better
Payout (12M): EEMO $0.39; PXH $1.16
Last payment: EEMO $0.12; PXH $0.32
Ex-dividend: EEMO Sep 21, 2026; PXH Sep 21, 2026
Paid on: EEMO Sep 25, 2026; PXH Sep 25, 2026
Frequency: EEMO Quarterly; PXH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EEMOQuarterly · 34 paymentsAll EEMO payments⁠

PXHQuarterly · 39 paymentsAll PXH payments⁠

EEMO vs PXH Risk

Fall from peak · 5 years

EEMO
PXH

Risk facts

VolatilityStd dev, 3 years: EEMO 24.7%PXH 11.2%, better
Return per unit of riskSharpe ratio, 3 years: EEMO 0.57PXH 1.49, better
Worst fallMax drawdown, 5 years: EEMO −35.2%PXH −29.6%, better
Market sensitivityBeta, 5 years: EEMO 1.14PXH 0.76; Market = 1

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