EMGF vs JPEM: Grades, Fees and Holdings Compared

iShares Emerging Markets Equity Factor ETF

EMGFACboe

JPMorgan Diversified Return Emerging Markets Equity ETF

JPEMBNYSE Arca

Overlap

17.6%by weight

Expense ratio

EMGF −0.18pt a year

EMGF0.26%JPEM0.44%

Avg volume · 30D

EMGF 8.9×the volume

EMGF156KJPEM17.4K

10Y return · a year

EMGF +2.3pt

EMGF+8.9%JPEM+6.6%

EMGF vs JPEM Performance

Nov 2, 2021 – Nov 2, 2026

+54.0%EMGF+36.6%JPEM

Expense ratio: EMGF 0.26%, better; JPEM 0.44%
Fund size: EMGF $1.79B; JPEM $362M
1Y total return: EMGF +14.1%, better; JPEM +7.6%
Yield (12M): EMGF 2.20%; JPEM 4.68%, better
Holdings: EMGF 740; JPEM 562
Avg volume (30D): EMGF 156K sh, better; JPEM 17.4K sh
NAV per share: EMGF $65.41; JPEM $61.28
52W range

ETF.net Grade

Pillar letters and Scores for EMGF, JPEM, with each pillar’s weight
Pillar	EMGF	JPEM
Cost30% weight	A92Higher	C53
Mission25% weight	Not scored	Not scored
Risk15% weight	D36	A74Higher
Tradability15% weight	A94Higher	B68
Holdings10% weight	C48	B63Higher
Durability5% weight	A89Higher	A72

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. EMGF and JPEM are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

Emerging Markets Multifactor⁠

Category · 20 funds

See all 20 ›

EMGF ranks 1st and JPEM 6th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 75
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 5BDFEVDimensional Emerging Markets Value ETFScore 63
Rank 6BJPEMJPMorgan Diversified Return Emerging Markets Equity ETFScore 62
Rank 7BQLVENorthern Trust Emerging Markets Quality Low Volatility ETFScore 61

Our read on each fund

ETF.net Research

EMGFAiShares Emerging Markets Equity Factor ETF

JPEMBJPMorgan Diversified Return Emerging Markets Equity ETF

In short

EMGF Emerging markets, sorted by factor screen instead of straight market cap. EMGF holds roughly 700 large- and mid-cap EM stocks picked for style-factor exposure, and charges 0.26% doing it, about half the multifactor EM norm.

JPEM A 2015-vintage multifactor read on emerging markets: JPMorgan spreads roughly 600 names across value, quality and momentum rather than letting the biggest companies set the weights.

Stated mandate

EMGF EMGF seeks to follow an index of large- and mid-capitalization emerging-market stocks selected for favorable exposure to specified style factors, subject to constraints.

JPEM The fund is designed to provide emerging-markets equity exposure with potentially improved risk-adjusted returns versus a market-cap-weighted index.

Why people hold it

EMGF 0.26% a year, versus a 0.48% median across multifactor EM funds. It undercuts AVES, JPEM, ROAM and QEMM on fee.
Roughly 700 large- and mid-cap names, so the factor tilts sit on a broad base rather than a handful of concentrated bets.
Running since 2015 as a billion-dollar-plus iShares fund, with steady enough volume for routine retail orders.
On cost and ease of trading, one of the stronger builds in the multifactor emerging-markets group.

JPEM Blends three factors at once (value, quality, momentum) instead of betting on one, tracking JPMorgan's own Diversified Factor Emerging Markets index.
The 0.44% expense ratio sits under the typical multifactor EM fund's fee.
Roughly 600 holdings spread the bet wide, and the fund pays quarterly.
Rates as one of the stronger builds in a crowded multifactor EM field on our review.

Worth knowing

EMGF Factor tilts mean the portfolio can drift well away from a plain cap-weighted EM index, in either direction, for long stretches.ishares.com
Emerging-market equity carries currency swings and country-level political risk on top of normal stock risk. Volatility here sits at the rougher end of its peer group.ishares.com
Distributions land annually or semiannually, not monthly, so it is not built as an income drip.

JPEM Thinly traded, so bid-ask spreads can run wider than the giant cap-weighted EM index funds.
Cheaper factor routes exist: EMGF charges 0.26% and QEMM 0.30%.
Factor weighting means the portfolio can look nothing like a market-cap EM benchmark, and diverge from it for long stretches.

Full EMGF profile⁠

Full JPEM profile⁠

EMGF vs JPEM Holdings

How EMGF and JPEM differ

Overlap by weight

17.6%

Shared holdings make up 38.9% of JPEM and 28.0% of EMGF.

Level by level

Holdings131 in both17.6%
Countryby domicile56.6%
Sector11 Sectors66.3%
Asset classEquity100%

Sector

Sector weights in EMGF and JPEM, widest gap first
Sector	More in EMGFMore in JPEM	EMGF	JPEM
Technology	EMGF +32.6 points	40.1%	7.5%
Utilities	JPEM +7.8 points	2.1%	9.9%
Industrials	JPEM +6.8 points	6.6%	13.4%
Materials	JPEM +5.2 points	5.5%	10.7%
Energy	JPEM +3.7 points	3.6%	7.3%
Consumer Staples	JPEM +3.5 points	3.4%	6.9%
Financials	JPEM +3.1 points	20.1%	23.2%
Health Care	JPEM +1.5 points	2.9%	4.4%
Real Estate	JPEM +1.3 points	0.8%	2.1%
Consumer Discretionary	EMGF +1.0 points	8.4%	7.4%
Communication	JPEM +0.8 points	6.4%	7.2%

Country, concentration and asset class

Country by domicile

Country weights in EMGF and JPEM, widest gap first
Country	More in EMGFMore in JPEM	EMGF	JPEM
South Korea	EMGF +19.3 points	19.3%	0.0%
Taiwan	EMGF +17.2 points	30.3%	13.1%
South Africa	JPEM +12.3 points	6.1%	18.4%
Brazil	JPEM +8.2 points	3.6%	11.8%
Mexico	JPEM +6.2 points	1.7%	7.9%
India	EMGF +5.5 points	13.7%	8.2%
Thailand	JPEM +4.6 points	1.4%	6.0%
Malaysia	JPEM +4.1 points	0.0%	4.1%
Other countries (8)	JPEM +6.5 points	24.1%	30.6%

Outside the US: EMGF 0% developed, 100% emerging. JPEM 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EMGF30.5%
JPEM11.5%

Securities held

EMGF718
JPEM555

Asset class

EMGF: Equity
JPEM: Equity

Holdings

Only in EMGF587
In both131
Only in JPEM424

Only in EMGF

587 securities, 71.6% of EMGF by weight

Samsung Electronics Ltd6.16%
Sk Hynix4.43%
Tencent Holdings2.51%
Alibaba Group Holding1.82%
Hon Hai Precision Industry0.80%
Delta Electronics0.73%
Ase Technology Holding0.67%
Samsung Electronics Non Voting Pre0.66%
Icici Bank0.64%
Pdd Holdings Ads0.56%
Sk Square0.53%
Reliance Industries Ltd0.53%
Petroleo Brasileiro SA Petrobras0.47%
Infosys0.46%
Hdfc Bank0.45%
Netease0.45%
Tata Consultancy Services Ltd0.44%
Nan Ya Plastics Corp0.43%
Samsung Electro Mechanics Ltd0.43%
Taiwan Cooperative Financial Holdi0.41%
Novatek Microelectronics0.40%
Elite Material0.40%
Kb Financial Group0.39%
United Micro Electronics Corp0.36%
Ping An Insurance (Group) Co of Ch0.36%
Nu Holdings Class A0.35%
Shinhan Financial Group0.35%
Bharti Airtel Ltd0.35%
Mahindra and Mahindra Ltd0.34%
Xiaomi0.34%
E.sun Financial Holding0.34%
Saudi Arabian Oil0.34%
Global Unichip0.32%
Hyundai Motor0.32%
Boc Hong Kong Holdings Ltd0.32%
Hana Financial Group0.32%
Unimicron Technology0.32%
Asia Vital Components0.32%
Meituan0.31%
Ts Financial Holding0.31%
Realtek Semiconductor0.31%
Grupo Mexico B0.30%
Larsen and Toubro Ltd0.28%
Emirates Nbd0.28%
Ge Vernova T&D India Ltd0.28%
Aspeed Technology0.27%
Anglogold Ashanti PLC0.27%
Coca-Cola Femsa Class Ubl Units0.27%
Delta Electronics (Thailand) Non-V0.27%
Indian Railway Finance Corp Ltd0.27%

Only in JPEM

424 securities, 61.0% of JPEM by weight

Anglogold Ashanti PLC0.89%
Grupo Mexico Sab De Cv0.81%
Grupo Financiero Banorte0.72%
Grupo Aeroportuario Del0.64%
Infosys Ltd Common Stock0.60%
Saudi Telecom Co Common0.59%
America Movil Sab De Cv0.54%
Ptt Pcl Nvdr Thb 10.50%
Hindustan Unilever Ltd0.49%
Emirates0.49%
Abu Dhabi Commercial0.48%
Cemex Sab De Cv Unit Mxn0.47%
Kasikornbank Pcl Nvdr0.45%
Valterra Platinum Ltd0.45%
Itausa SA Preference Brl0.41%
Yangzijiang Shipbuilding0.37%
Advanced Info Service0.36%
Malayan Banking Bhd0.36%
Arca Continental Sab De0.36%
Saudi Arabian Oil Co0.35%
Krung Thai Bank Pcl0.35%
Ptt Exploration &0.34%
Reliance Industries Ltd0.34%
Axia Energia SA Common0.34%
Scb X Pcl Nvdr Thb 100.34%
Fomento Economico0.34%
Adani Power Ltd Common0.33%
Bajaj Auto Ltd Common0.32%
Richter Gedeon Nyrt0.31%
Nepi Rockcastle NV0.31%
Divi's Laboratories Ltd0.31%
Vodacom Group Ltd Common0.29%
Latam Airlines Group SA0.29%
Tupras-Turkiye Petrol0.29%
Cimb Group Holdings Bhd0.29%
Falabella SA Common Stock0.28%
Air Arabia Pjsc Common0.28%
Grupo Cibest SA0.28%
Coca-Cola Femsa Sab De Cv0.28%
Banco Btg Pactual SA0.28%
Press Metal Aluminium0.28%
Citic Ltd Common Stock0.28%
The Saudi National Bank0.28%
Promotora Y Operadora De0.28%
Cgn Power Co Ltd Common0.28%
Sigma Foods Sab De Cv0.27%
Adnoc Logistics &0.27%
Banco Santander Chile0.27%
Hcl Technologies Ltd0.27%
Ntpc Ltd Common Stock0.27%

Weight gaps

The 100 widest of 131 Holdings in both funds.

Holding weights in EMGF and JPEM, widest gap first
Holding	More in EMGFMore in JPEM	EMGF	JPEM
Taiwan Semiconductor Manufacturing	EMGF +8.16 points	10.33%	2.17%
Petroleo Brasileiro Pref SA	JPEM +0.91 points	0.09%	1.00%
China Construction Bank Corp H	JPEM +0.80 points	1.21%	2.01%
Mediatek	EMGF +0.78 points	1.59%	0.81%
Itau Unibanco Holding Pref SA	JPEM +0.66 points	0.18%	0.84%
Otp Bank	JPEM +0.52 points	0.20%	0.72%
Naspers Limited Class N	JPEM +0.50 points	0.24%	0.74%
Bank of China Ltd H	JPEM +0.46 points	0.71%	1.17%
Firstrand Ltd	JPEM +0.43 points	0.10%	0.53%
China Shenhua Energy Ltd H	JPEM +0.42 points	0.09%	0.51%
Cia Vale Do Rio Doce Sh	JPEM +0.41 points	0.45%	0.86%
Ctbc Financial Holding	JPEM +0.41 points	0.51%	0.92%
Walmart De Mexico V	JPEM +0.39 points	0.03%	0.42%
Chunghwa Telecom Ltd	JPEM +0.38 points	0.14%	0.52%
Embraer	JPEM +0.38 points	0.07%	0.45%
Emaar Properties	JPEM +0.37 points	0.18%	0.55%
Banco Bradesco Pref	JPEM +0.37 points	0.01%	0.38%
Gold Fields	JPEM +0.36 points	0.17%	0.53%
China Citic Bank Corp Ltd H	JPEM +0.35 points	0.03%	0.38%
Standard Bank Group	JPEM +0.34 points	0.14%	0.48%
Sinopac Financial Holdings	JPEM +0.33 points	0.24%	0.57%
Uni-President Enterprises	JPEM +0.30 points	0.09%	0.39%
Mtn Group	JPEM +0.30 points	0.23%	0.53%
Aselsan Elektronik Sanayi Ve Ticar	JPEM +0.30 points	0.04%	0.34%
Shoprite Holdings Ltd	JPEM +0.30 points	0.01%	0.31%
Bid Corporation	JPEM +0.29 points	0.05%	0.34%
Harmony Gold Mining Company Limite	JPEM +0.27 points	0.03%	0.30%
Banco De Chile	JPEM +0.27 points	0.07%	0.34%
Fubon Financial Holding	EMGF +0.27 points	0.63%	0.36%
Companhia De Saneamento Basico De	JPEM +0.26 points	0.09%	0.35%
China Petroleum and Chemical H	JPEM +0.26 points	0.12%	0.38%
Bidvest Group	JPEM +0.25 points	0.05%	0.30%
Mega Financial Holding Ltd	EMGF +0.25 points	0.26%	0.01%
Impala Platinum	JPEM +0.24 points	0.04%	0.28%
Nedbank Group Ltd	JPEM +0.24 points	0.10%	0.34%
Taiwan Mobile	JPEM +0.23 points	0.06%	0.29%
Sasol	JPEM +0.23 points	0.08%	0.31%
Abu Dhabi Islamic Bank	JPEM +0.22 points	0.11%	0.33%
China Yangtze Power Ltd A	JPEM +0.23 points	0.01%	0.24%
Bim Birlesik Magazalar A	JPEM +0.21 points	0.05%	0.26%
Mol Hungarian Oil and Gas	JPEM +0.21 points	0.12%	0.33%
Indust Penoles	JPEM +0.20 points	0.10%	0.30%
Foxconn Industrial Internet Ltd A	JPEM +0.21 points	0.02%	0.23%
Eva Airways	JPEM +0.20 points	0.06%	0.26%
Far Eastone Telecommunications Ltd	JPEM +0.19 points	0.07%	0.26%
Accton Technology	JPEM +0.19 points	0.32%	0.51%
President Chain Store Corp	JPEM +0.19 points	0.01%	0.20%
Formosa Petrochemical Corp	JPEM +0.19 points	0.03%	0.22%
Yuanta Financial Holding	JPEM +0.18 points	0.47%	0.65%
Geely Automobile Holdings Ltd	JPEM +0.19 points	0.08%	0.27%
Dubai Electricity and Water Author	JPEM +0.18 points	0.07%	0.25%
Sociedad Quimica Y Minera De Chile	JPEM +0.17 points	0.03%	0.20%
King Slide Works	JPEM +0.17 points	0.23%	0.40%
Vibra Energia SA	JPEM +0.18 points	0.08%	0.26%
Emirates Integrated Telecommunicat	EMGF +0.17 points	0.29%	0.12%
Cosco Shipping Holdings Ltd H	JPEM +0.17 points	0.13%	0.30%
Chang Hwa Commercial Bank Ltd	JPEM +0.17 points	0.07%	0.24%
Industrial and Commercial Bank of	EMGF +0.16 points	0.87%	0.71%
Yutong Bus Ltd A	JPEM +0.16 points	0.04%	0.20%
National Bank of Kuwait	JPEM +0.17 points	0.14%	0.31%
Cia Paranaense De Energia Copel	JPEM +0.16 points	0.10%	0.26%
Telekomunikasi Indonesia	JPEM +0.16 points	0.02%	0.18%
Ambev SA	JPEM +0.15 points	0.22%	0.37%
Gulf Development Non-Voting Dr Pcl	JPEM +0.15 points	0.08%	0.23%
Northam Platinum Hldgs Ltd	JPEM +0.15 points	<0.01%	0.16%
Zhejiang Longsheng Group Ltd A	JPEM +0.14 points	0.02%	0.16%
Industries Qatar	JPEM +0.15 points	0.01%	0.16%
Cez	JPEM +0.14 points	0.13%	0.27%
Xiamen G-Bits Network Technology A	JPEM +0.13 points	0.03%	0.16%
Turkcell Iletisim Hizmetleri A	JPEM +0.12 points	0.07%	0.19%
Sime Darby	JPEM +0.13 points	0.05%	0.18%
Guangdong Investment Ltd	JPEM +0.12 points	0.04%	0.16%
Ultrapar Participoes SA	JPEM +0.12 points	0.06%	0.18%
Wuliangye Yibin Ltd A	JPEM +0.12 points	<0.01%	0.13%
Banco De Credito E Inversion	JPEM +0.11 points	0.07%	0.18%
Migros Ticaret A	JPEM +0.11 points	0.02%	0.13%
Hubei Jumpcan Pharmaceutical Ltd A	JPEM +0.10 points	0.04%	0.14%
Sd Guthrie	JPEM +0.10 points	0.18%	0.28%
Komercni Bank	EMGF +0.11 points	0.21%	0.10%
Beijing Jingneng Power Ltd A	JPEM +0.10 points	<0.01%	0.11%
H World Group	JPEM +0.11 points	0.13%	0.24%
Zhongshan Broad-Ocean Motor Ltd A	JPEM +0.10 points	0.02%	0.12%
Cofco Sugar Holding Ltd A	JPEM +0.10 points	0.02%	0.12%
Sinotruk (Hong Kong) Ltd	JPEM +0.10 points	0.09%	0.19%
Bosideng International	JPEM +0.10 points	0.05%	0.15%
Zhejiang Semir Garment Ltd A	JPEM +0.09 points	0.02%	0.11%
Hisense Visual Technology A	JPEM +0.09 points	0.02%	0.11%
Gd Power Development Ltd A	JPEM +0.09 points	0.07%	0.16%
China Resources Sanjiu Medical and	JPEM +0.09 points	0.03%	0.12%
Weg	JPEM +0.09 points	0.08%	0.17%
Chengdu Kanghong Pharmaceutical Gr	JPEM +0.08 points	0.02%	0.10%
Cpfl Energia	JPEM +0.08 points	0.11%	0.19%
Kumba Iron Ore Ltd	JPEM +0.08 points	0.02%	0.10%
Petrochina A	JPEM +0.08 points	0.16%	0.24%
International Games System Ltd	EMGF +0.08 points	0.30%	0.22%
Great Wall Motor Company Ltd H	JPEM +0.08 points	0.02%	0.10%
Bb Seguridade SA	JPEM +0.07 points	0.11%	0.18%
First Abu Dhabi Bank	EMGF +0.07 points	0.12%	0.05%
Livzon Pharmaceutical Group Inc A	JPEM +0.07 points	<0.01%	0.08%
Perusahaan Gas Negara	JPEM +0.06 points	0.04%	0.10%

All 715 EMGF holdings⁠All 558 JPEM 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.

EMGF vs JPEM Cost

Overpaying JPEM vs EMGF

$3,494

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

EMGF 0.26%
$5,358
JPEM 0.44%
$8,852

Amount$10,000

Years30 years

Cost over time

EMGF 0.26%
JPEM 0.44%
Overpaying

Year by year

Year	EMGF	JPEM	Overpaying
10	$473	$794	$321
20	$1,838	$3,061	$1,223
30	$5,358	$8,852	$3,494

Expense ratio

0.26%EMGF, cheaper
0.44%JPEM

EMGF0.26%JPEM0.44%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

EMGF 3rd cheapest of 20 funds

JPEM 10th cheapest of 20 funds

EMGF vs JPEM Dividends

Last 12 months to Nov 2, 2026

Yield (12M): EMGF 2.20%; JPEM 4.68%, better
Payout (12M): EMGF $1.44; JPEM $2.88
Last payment: EMGF $0.61; JPEM $0.80
Ex-dividend: EMGF Jun 15, 2026; JPEM Sep 22, 2026
Paid on: EMGF Jun 18, 2026; JPEM Sep 24, 2026
Frequency: EMGF Twice a year; JPEM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EMGFTwice a year · 21 paymentsAll EMGF payments⁠

JPEMQuarterly · 36 paymentsAll JPEM payments⁠

EMGF vs JPEM Risk

Fall from peak · 5 years

EMGF
JPEM

Risk facts

VolatilityStd dev, 3 years: EMGF 16.3%JPEM 10.1%, better
Return per unit of riskSharpe ratio, 3 years: EMGF 1.09, betterJPEM 0.88
Worst fallMax drawdown, 5 years: EMGF −27.1%JPEM −21.6%, better
Market sensitivityBeta, 5 years: EMGF 1.02JPEM 0.64; Market = 1

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