EMC vs PAWZ

EMCCGlobal X Emerging Markets Great Consumer ETF

PAWZCProShares Pet Care ETF

In short

EMC Most consumer-theme ETFs just follow an index. EMC hires stock pickers: a Mirae Asset team in Hong Kong choosing roughly 70 emerging-market companies tied to a rising middle class, in whatever sector that spending lands.

PAWZ One ticker for the pet economy: vet clinics, kibble makers, animal-health labs, the retailers that ship it all. PAWZ has tracked the FactSet Pet Care Index, globally, since 2018.

Stated mandate

EMC The fund seeks long-term capital growth by investing in companies linked to emerging-market consumption trends driven by the expanding purchasing power of the middle class.

PAWZ The fund invests globally in companies positioned at the forefront of the pet care industry.

Why people hold it

• EMC Actively managed and sub-advised by Mirae Asset's Hong Kong team, which hand-picks emerging-market names it judges best placed to capture domestic spending growth.globalxetfs.com
• Not fenced into consumer staples and discretionary: managers can own any industry sitting in the path of rising consumption, from banks to airlines.globalxetfs.com
• Born in 2010 as a Mirae Asset mutual fund, converted to an ETF in 2023 with the same team and process, plus daily holdings disclosure and intraday trading.globalxetfs.comsec.gov
• Active stock picking at 0.65%, the median expense ratio in its consumer-theme peer group, where most rivals simply track a basket.

• PAWZ Costs 0.50% a year, under the 0.65% median for its consumer-lifestyle peer group. Cheap for a niche theme fund, where 0.60%-plus is the norm.
• Buys the whole pet supply chain, not one slice: the mandate is global companies at the forefront of pet care, set by the FactSet Pet Care Index rather than a manager's hunches.proshares.com
• Running since 2018 and priced level with the strongest names in its cohort (MILN at 0.50%), it sits in the upper half of that peer group on our review.

Worth knowing

• EMC Thinly traded, so spreads can run wider than in the category's heavyweights.
• No index to hug: the MSCI Emerging Markets Index is the yardstick, not the blueprint, so results ride on the team's calls.globalxetfs.com
• Index-based cousins in the cohort cost less, with MILN and PAWZ at 0.50%.

• PAWZ Thinly traded. On a given trade the bid-ask spread can cost more than a year of the expense ratio, so how you place the order matters.
• Around two dozen holdings. Concentration is the point of a theme fund and also the risk: one company's news can swing the whole basket.
• A small fund with a global mandate, so expect foreign listings, currency movement, and an asset base that keeps it off most institutional buy lists.

Full EMC profile⁠

Full PAWZ profile⁠