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EMGF vs MFEM

iShares Emerging Markets Equity Factor ETF

EMGFACboe

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

MFEMCNYSE Arca

Overlap

0.3%by weight

Expense ratio

EMGF −0.23pt a year

EMGF0.26%MFEM0.49%

Avg volume · 30D

EMGF 8.4×the volume

EMGF156KMFEM18.4K

5Y return · a year

EMGF +1.9pt

EMGF+9.0%MFEM+7.1%

EMGF vs MFEM Performance

Oct 29, 2021 – Oct 30, 2026

+53.9%EMGF+41.2%MFEM

Oct 29, 2021 to Oct 30, 2026. EMGF +53.9%. MFEM +41.2%. Use the arrow keys to read each point.−20%0%20%80%Oct 2021Apr 2024Oct 2026
Expense ratio
EMGF 0.26%, better
MFEM 0.49%
Fund size
EMGF $1.79B
MFEM $158M
1Y total return
EMGF +14.5%
MFEM +17.7%, better
Yield (12M)
EMGF 2.19%
MFEM 2.41%, better
Holdings
EMGF 740
MFEM 689
Avg volume (30D)
EMGF 156K sh, better
MFEM 18.4K sh
NAV per share
EMGF $65.41
MFEM $26.81
52W range

ETF.net Grade

EMGF: Cost 92, Risk 43, Mission not scored, Tradability 94, Holdings 48, Durability 89. MFEM: Cost 26, Risk 39, Mission not scored, Tradability 37, Holdings 100, Durability 37.
Pillar letters and Scores for EMGF, MFEM, with each pillar’s weight
PillarEMGFMFEM
Cost30% weightA92HigherD26
Mission25% weightNot scoredNot scored
Risk15% weightC43HigherD39
Tradability15% weightA94HigherD37
Holdings10% weightC48A100Higher
Durability5% weightA89HigherD37

Rank among Emerging Markets Multifactor funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. EMGF and MFEM 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 MFEM 14th of 20 funds in the Emerging Markets Multifactor Category.

  1. Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
  2. Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
  3. Rank 12CJHEMJohn Hancock Multifactor Emerging Markets ETFScore 42
  4. Rank 14CMFEMPIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETFScore 41
  5. Rank 15DEMMFWisdomTree Emerging Markets Multifactor FundScore 38

Our read on each fund

ETF.net Research

EMGFAiShares Emerging Markets Equity Factor ETF

MFEMCPIMCO RAFI Dynamic Multi-Factor 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.

MFEM Most multifactor emerging-market funds pick their factor weights and leave them. PIMCO's version rotates, leaning toward factors that look cheap against their own history and are turning up. Contrarian machinery from Research Affiliates, roughly 800 stocks deep.

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.

MFEM The Fund seeks to track the RAFI Dynamic Multi-Factor Emerging Markets Index. It normally invests at least 80% of assets in the index’s component securities and is designed to provide long-only emerging-market equity exposure across multiple factors.

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.
  • MFEM The index doesn't hold factor weights still. It rebalances toward factors with attractive relative valuations that are also showing a momentum upswing.rafi.com
  • Four factors in one long-only emerging-market wrapper: value, momentum, quality and low volatility. No single-factor bet to time yourself.
  • Roughly 800 holdings, so no single name carries the portfolio. Distributions come quarterly.
  • A PIMCO fund running a Research Affiliates index, live since 2017. This is not a strategy that showed up last quarter.researchaffiliates.com

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.
  • MFEM At 0.50% it prices above the typical multifactor EM fund and above cheaper peers like EMGF (0.26%) and AVES (0.36%). Overall it lands in the lower half of its peer group.
  • Thinly traded next to its category, which can mean wider spreads. Limit orders carry more weight here than with the group's heavyweights.
  • Rotating factor weights is an active call baked into the index. The path can look quite different from plain cap-weighted emerging markets, in both directions.rafi.com

Full EMGF profile⁠

Full MFEM profile⁠

EMGF vs MFEM Holdings

How EMGF and MFEM differ

Overlap by weight

0.3%

Shared holdings make up 0.5% of MFEM and 0.3% of EMGF.

Level by level

  • Holdings2 in both0.3%
  • Countryby domicile85.1%
  • Sector11 Sectors85.9%
  • Asset classEquity100%

Sector

Sector weights in EMGF and MFEM, widest gap first
SectorMore in EMGFMore in MFEM
MaterialsMFEM +6.9 points
EnergyMFEM +4.6 points
TechnologyEMGF +4.4 points
FinancialsEMGF +4.0 points
CommunicationEMGF +2.6 points
Consumer DiscretionaryEMGF +2.1 points
IndustrialsMFEM +1.7 points
Health CareEMGF +1.0 points
UtilitiesMFEM +0.5 points
Consumer StaplesMFEM +0.2 points
Real EstateMFEM +0.2 points

Country, concentration and asset class

Country by domicile

Country weights in EMGF and MFEM, widest gap first
CountryMore in EMGFMore in MFEM
IndiaEMGF +9.2 points
ChinaMFEM +5.4 points
ThailandMFEM +3.1 points
South AfricaEMGF +3.0 points
South KoreaEMGF +1.9 points
TaiwanMFEM +1.6 points
United StatesMFEM +1.2 points
MalaysiaMFEM +1.2 points
Other countries (8)MFEM +1.4 points

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

Concentration

Weight in the 10 largest Holdings

  • EMGF30.5%
  • MFEM20.3%

Securities held

  • EMGF718
  • MFEM675

Asset class

EMGF
Equity
MFEM
Equity

Holdings

  • Only in EMGF716
  • In both2
  • Only in MFEM673

Only in EMGF

716 securities, 99.3% of EMGF by weight

  • Taiwan Semiconductor Manufacturing10.33%
  • Samsung Electronics Ltd6.16%
  • Sk Hynix4.43%

Only in MFEM

673 securities, 100% of MFEM by weight

  • Yuan Renminbi Offshore3.10%
  • Ase Technology Holding Co Lt Common Stock TWD10.02.78%
  • Mediatek Inc Common Stock TWD10.02.60%

Weight gaps

All 2 Holdings in both funds, largest gap first.

Holding weights in EMGF and MFEM, widest gap first
HoldingMore in EMGFMore in MFEM
Silicon Motion Technology Adr ReptSIMOMFEM +0.23 points
Vipshop Holdings Sponsored Ads RepVIPSMFEM +0.02 points

All 715 EMGF holdings⁠All 816 MFEM 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 MFEM Cost

Overpaying MFEM vs EMGF

$4,434

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

  • EMGF 0.26%

    $5,358

  • MFEM 0.49%

    $9,792

$10,000
30 years

Cost over time

  • EMGF 0.26%
  • MFEM 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530MFEM $9,792EMGF $5,358

Year by year

YearEMGFMFEMOverpaying
10$473$883$410
20$1,838$3,394$1,556
30$5,358$9,792$4,434

Expense ratio

  • 0.26%EMGF, cheaper
  • 0.49%MFEM
  • Middle half of Emerging Markets Multifactor funds
  • Median 0.44%

EMGF 3rd cheapest of 20 funds

MFEM 14th cheapest of 20 funds

EMGF vs MFEM Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
EMGF 2.19%
MFEM 2.41%, better
Payout (12M)
EMGF $1.44
MFEM $0.63
Last payment
EMGF $0.61
MFEM $0.22
Ex-dividend
EMGF Jun 15, 2026
MFEM Oct 1, 2026
Paid on
EMGF Jun 18, 2026
MFEM Oct 5, 2026
Frequency
EMGF Twice a year
MFEM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EMGFTwice a year · 21 paymentsAll EMGF payments⁠
One bar per payment. 21 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.27; Dec 19, 2017 $0.66; Dec 28, 2017 $0.04; Jun 19, 2018 $0.32; Dec 18, 2018 $0.73; Jun 17, 2019 $0.45; Dec 16, 2019 $0.75; Jun 15, 2020 $0.41; Dec 14, 2020 $0.55; Jun 10, 2021 $0.34; Dec 13, 2021 $0.90; Dec 30, 2021 $0.03; Jun 9, 2022 $0.45; Dec 13, 2022 $1.21; Jun 7, 2023 $0.43; Dec 20, 2023 $2.11; Jun 11, 2024 $0.39; Dec 17, 2024 $1.16; Jun 16, 2025 $0.63; Dec 16, 2025 $0.83; Jun 15, 2026 $0.61. Use the arrow keys to read each point.$0$52017202020232026YTD
MFEMQuarterly · 38 paymentsAll MFEM payments⁠
One bar per payment. 38 payments from 2017 to 2026 YTD. Dec 28, 2017 $0.05; Apr 2, 2018 $0.02; Jul 2, 2018 $0.12; Oct 1, 2018 $0.13; Dec 28, 2018 $0.40; Apr 1, 2019 $0.09; Jul 1, 2019 $0.15; Oct 1, 2019 $0.08; Dec 30, 2019 $0.28; Apr 1, 2020 $0.07; Jul 1, 2020 $0.11; Oct 1, 2020 $0.08; Dec 30, 2020 $0.20; Apr 1, 2021 $0.03; Jul 1, 2021 $0.19; Oct 1, 2021 $0.60; Dec 10, 2021 $4.54; Dec 30, 2021 $1.57; Apr 1, 2022 $0.10; Jul 1, 2022 $0.19; Oct 3, 2022 $0.29; Dec 12, 2022 $0.59; Dec 29, 2022 $0.05; Apr 3, 2023 $0.11; Jul 3, 2023 $0.26; Oct 2, 2023 $0.24; Dec 28, 2023 $0.16; Apr 1, 2024 $0.14; Jul 1, 2024 $0.21; Oct 1, 2024 $0.59; Dec 31, 2024 $0.18; Apr 1, 2025 $0.15; Jul 1, 2025 $0.20; Oct 1, 2025 $0.22; Dec 31, 2025 $0.07; Apr 1, 2026 $0.15; Jul 1, 2026 $0.19; Oct 1, 2026 $0.22. Use the arrow keys to read each point.$0$52017202020232026YTD

EMGF vs MFEM Risk

Fall from peak · 5 years

  • EMGF
  • MFEM
Oct 29, 2021 to Oct 30, 2026. Worst fall: MFEM −30.5% · Oct 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
EMGF 16.3%, betterMFEM 16.9%
Return per unit of riskSharpe ratio, 3 years
EMGF 1.09, betterMFEM 0.90
Worst fallMax drawdown, 5 years
EMGF −27.1%, betterMFEM −30.5%
Market sensitivityBeta, 5 years
EMGF 1.02MFEM 1.08

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