EMC vs PEJ

EMCCGlobal X Emerging Markets Great Consumer ETF

PEJBInvesco Dynamic Leisure and Entertainment 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.

PEJ The travel-and-fun trade, run like a quant screen: roughly 30 US leisure and entertainment stocks re-ranked every quarter on momentum, quality, management action and value. Fee is 0.58%, with no waiver doing the work. Trading since 2005.

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.

PEJ The fund seeks capital appreciation through an index that evaluates companies using multiple investment-merit criteria.

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.

• PEJ Nearly two decades of live history, through a full shutdown-and-reopening cycle for travel, make this one of the originals in the niche and a strong one in its peer group.
• The index skips the usual mega-cap tilt: the eight largest constituents share 40% of the weight while 22 smaller names split 60%, so mid-size operators actually move the needle.sec.gov
• Holdings get re-screened quarterly on price momentum, earnings momentum, quality, management action and value, so names keep having to earn their slot.invesco.com
• Moderately traded for such a narrow theme, which makes getting in and out less of a chore, and it pays distributions quarterly.

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%.

• PEJ Concentration is the point and the trade-off: about 30 stocks inside one corner of consumer discretionary, with no other sector to cushion a rough stretch for leisure spending.
• Quarterly reconstitution means real turnover. What the fund holds in February may look different by November, so this is not a buy-it-and-forget-the-names basket.sec.gov
• At 0.58% it sits near the typical fee for consumer-lifestyle thematics, and above the group's cheapest options: MILN and PAWZ each charge 0.50%, also without a waiver.

Full EMC profile⁠

Full PEJ profile⁠