EMGF vs UEVM: Grades, Fees and Holdings Compared

iShares Emerging Markets Equity Factor ETF

EMGFACboe

VictoryShares Emerging Markets Value Momentum ETF

UEVMCNasdaq

Overlap

14.1%by weight

Expense ratio

EMGF −0.19pt a year

EMGF0.26%UEVM0.45%

Avg volume · 30D

EMGF 48.5×the volume

EMGF156KUEVM3.21K

5Y return · a year

EMGF +1.3pt

EMGF+9.0%UEVM+7.7%

EMGF vs UEVM Performance

Oct 29, 2021 – Oct 30, 2026

+53.9%EMGF+44.7%UEVM

Expense ratio: EMGF 0.26%, better; UEVM 0.45%
Fund size: EMGF $1.79B; UEVM $233M
1Y total return: EMGF +14.5%, better; UEVM +3.4%
Yield (12M): EMGF 2.19%; UEVM 3.25%, better
Holdings: EMGF 740; UEVM 179
Avg volume (30D): EMGF 156K sh, better; UEVM 3.21K sh
NAV per share: EMGF $65.41; UEVM $56.21
52W range

ETF.net Grade

Pillar letters and Scores for EMGF, UEVM, with each pillar’s weight
Pillar	EMGF	UEVM
Cost30% weight	A92Higher	C42
Mission25% weight	Not scored	Not scored
Risk15% weight	C43	B58Higher
Tradability15% weight	A94Higher	C47
Holdings10% weight	C48	A76Higher
Durability5% weight	A89Higher	D39

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. EMGF and UEVM 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 UEVM 10th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 9BGEMGoldman Sachs ActiveBeta Emerging Markets Equity ETFScore 56
Rank 10CUEVMVictoryShares Emerging Markets Value Momentum ETFScore 50
Rank 11CEQLTiShares MSCI Emerging Markets Quality Factor ETFScore 46

Our read on each fund

ETF.net Research

EMGFAiShares Emerging Markets Equity Factor ETF

UEVMCVictoryShares Emerging Markets Value Momentum 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.

UEVM Value and momentum usually pull in opposite directions. UEVM runs both at once, tracking an MSCI blend index that tilts a portfolio of emerging-market stocks toward the cheap names and the ones already working.

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.

UEVM The Fund seeks to track the performance of the MSCI Emerging Markets Select Value Momentum Blend Index before fees and expenses. Its strategy targets global emerging-market equities with greater exposure to value and momentum characteristics.

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.

UEVM Two factors, one ticker: the index leans emerging-market equities toward both value and momentum characteristics, so you aren't picking a side between cheap stocks and stocks with wind behind them.
Roughly 200 holdings spread across emerging markets, so no single company or story carries the fund. The portfolio construction is a relative strength here.
Rules-based and index-tracking since its 2017 launch. The factor tilts come from MSCI's published methodology, not a manager's gut call, and it has traded through several full emerging-market cycles.

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.

UEVM At 0.53% a year, it costs more than the typical multifactor emerging-market fund. EMGF (0.26%) and AVES (0.36%) run similar factor mandates for meaningfully less.
Thinly traded compared with its peer group, which tends to mean wider bid-ask spreads and more slippage on larger or hurried orders.
Distributions land on an irregular schedule rather than a fixed quarterly or monthly rhythm, so the income timing is unpredictable.

Full EMGF profile⁠

Full UEVM profile⁠

EMGF vs UEVM Holdings

How EMGF and UEVM differ

Overlap by weight

14.1%

Shared holdings make up 44.3% of UEVM and 15.6% of EMGF.

Level by level

Holdings78 in both14.1%
Sector11 Sectors63.2%
Countryby domicile65.0%
Asset classEquity100%

Sector

Sector weights in EMGF and UEVM, widest gap first
Sector	More in EMGFMore in UEVM	EMGF	UEVM
Technology	EMGF +31.4 points	40.1%	8.7%
Financials	UEVM +9.4 points	20.1%	29.4%
Communication	EMGF +5.4 points	6.4%	1.0%
Consumer Staples	UEVM +5.2 points	3.4%	8.6%
Energy	UEVM +4.6 points	3.6%	8.2%
Utilities	UEVM +3.6 points	2.1%	5.7%
Consumer Discretionary	UEVM +3.5 points	8.4%	11.9%
Materials	UEVM +3.4 points	5.5%	8.9%
Real Estate	UEVM +3.1 points	0.8%	3.9%
Industrials	UEVM +2.8 points	6.6%	9.4%
Health Care	UEVM +1.3 points	2.9%	4.2%

Country, concentration and asset class

Country by domicile

Country weights in EMGF and UEVM, widest gap first
Country	More in EMGFMore in UEVM	EMGF	UEVM
South Korea	EMGF +19.3 points	19.3%	0.0%
Taiwan	EMGF +15.7 points	30.3%	14.6%
Thailand	UEVM +9.4 points	1.4%	10.8%
China	UEVM +8.8 points	22.8%	31.6%
Brazil	UEVM +3.7 points	3.6%	7.3%
Malaysia	UEVM +2.6 points	0.0%	2.6%
Mexico	UEVM +1.9 points	1.7%	3.6%
Poland	UEVM +1.9 points	1.3%	3.2%
Other countries (9)	UEVM +6.4 points	19.8%	26.2%

Outside the US: EMGF 0% developed, 100% emerging. UEVM 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

EMGF30.5%
UEVM11.5%

Securities held

EMGF718
UEVM174

Asset class

EMGF: Equity
UEVM: Equity

Holdings

Only in EMGF640
In both78
Only in UEVM96

Only in EMGF

640 securities, 84.0% of EMGF by weight

Taiwan Semiconductor Manufacturing10.33%
Samsung Electronics Ltd6.16%
Sk Hynix4.43%
Tencent Holdings2.51%
Alibaba Group Holding1.82%
Mediatek1.59%
Hon Hai Precision Industry0.80%
Samsung Electronics Non Voting Pre0.66%
Icici Bank0.64%
Pdd Holdings Ads0.56%
Sk Square0.53%
Reliance Industries Ltd0.53%
Ctbc Financial Holding0.51%
Petroleo Brasileiro SA Petrobras0.47%
Infosys0.46%
Hdfc Bank0.45%
Netease0.45%
Tata Consultancy Services Ltd0.44%
Samsung Electro Mechanics Ltd0.43%
Taiwan Cooperative Financial Holdi0.41%
Novatek Microelectronics0.40%
Kb Financial Group0.39%
Cathay Financial Holding0.36%
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%
Accton Technology0.32%
Hana Financial Group0.32%
Asia Vital Components0.32%
Meituan0.31%
Realtek Semiconductor0.31%
Grupo Mexico B0.30%
International Games System Ltd0.30%
Emirates Integrated Telecommunicat0.29%
Larsen and Toubro Ltd0.28%
Emirates Nbd0.28%
Ge Vernova T&D India Ltd0.28%
Aspeed Technology0.27%
Anglogold Ashanti PLC0.27%
First Financial Holding Ltd0.27%
Delta Electronics (Thailand) Non-V0.27%
Indian Railway Finance Corp Ltd0.27%
B3 Brasil Bolsa Balcao SA0.27%

Only in UEVM

96 securities, 55.5% of UEVM by weight

Tisco Financial Group Pcl1.50%
Nepi Rockcastle N.v.1.34%
Anand Rathi Wealth Ltd1.08%
China Tower Corp Ltd1.04%
Kasikornbank Pcl1.02%
Sinopharm Group Co Ltd1.01%
Rhb Bank Bhd1.01%
Fibra Uno Administracion0.96%
Bangkok Bank Pcl0.91%
Laurus Labs Ltd0.90%
Growthpoint Properties Lt0.87%
Cgn Power Co Ltd0.85%
Cia Energetica De Minas G0.85%
China Everbright Bank Co0.83%
Kiatnakin Bank Pcl0.81%
Krung Thai Bank Pcl0.81%
Kimberly-Cla M-A0.80%
China Minsheng Banking Co0.80%
Benefit Systems SA0.79%
Fsn E-Commerce Ventures L0.79%
Aurobindo Pharma Ltd0.78%
Midea Group Co Ltd0.78%
Tsingtao Brewery Co Ltd0.78%
Central Pattana Pcl0.78%
Titan Co Ltd0.77%
Anhui Conch Cement Co Ltd0.75%
Itausa - Investimentos It0.75%
Tmbthanachart Bank Pcl0.75%
Sona Blw Precision Forgin0.73%
Haier Smart Home Co Ltd0.72%
Thanachart Capital Pcl0.72%
Evergreen Marine Corp Tai0.71%
Huaneng Power-H0.70%
Synnex Technology Interna0.70%
Charoen Pokphand Foods Pc0.69%
Eicher Motors Ltd0.68%
Fuyao Glass Industry Grou0.67%
China Airlines Ltd0.66%
Inner Mongolia Yitai Coal0.64%
Gulf Development Pcl0.64%
Grupo Cibest SA0.61%
Cummins India Ltd0.61%
Ami Organics Ltd0.60%
Central Retail Corp Pcl0.59%
Axia Energia0.57%
Bharat Forge Ltd0.57%
Tata Motors Ltd0.57%
Adani Power Ltd0.57%
Lloyds Metals & Energy Lt0.55%
Cia Saneamento Minas0.52%

Weight gaps

All 78 Holdings in both funds, largest gap first.

Holding weights in EMGF and UEVM, widest gap first
Holding	More in EMGFMore in UEVM	EMGF	UEVM
Bank of Communications Ltd H	UEVM +1.01 points	0.14%	1.15%
China Merchants Bank H	UEVM +0.99 points	0.14%	1.13%
Postal Savings Bank of China Ltd H	UEVM +0.93 points	0.20%	1.13%
China Citic Bank Corp Ltd H	UEVM +0.89 points	0.03%	0.92%
Gedeon Richter	UEVM +0.84 points	0.01%	0.85%
Sd Guthrie	UEVM +0.81 points	0.18%	0.99%
Allegro SA	UEVM +0.77 points	0.05%	0.82%
Agricultural Bank of China H	UEVM +0.73 points	0.21%	0.94%
Fomento Economico Mexicano	UEVM +0.73 points	0.24%	0.97%
Petroleo Brasileiro Pref SA	UEVM +0.73 points	0.09%	0.82%
China Petroleum and Chemical H	UEVM +0.72 points	0.12%	0.84%
Pepco Group	UEVM +0.67 points	0.03%	0.69%
Coca-Cola Femsa Class Ubl Units	UEVM +0.66 points	0.27%	0.93%
Pegatron	UEVM +0.65 points	0.01%	0.66%
Eva Airways	UEVM +0.65 points	0.06%	0.71%
China Shenhua Energy Ltd H	UEVM +0.64 points	0.09%	0.73%
Cosco Shipping Holdings Ltd H	UEVM +0.61 points	0.13%	0.74%
Sinopac Financial Holdings	UEVM +0.60 points	0.24%	0.84%
Petrochina H	UEVM +0.58 points	0.14%	0.72%
Ultrapar Participoes SA	UEVM +0.58 points	0.06%	0.64%
Picc Property and Casualty Ltd H	UEVM +0.59 points	0.09%	0.68%
Sime Darby	UEVM +0.57 points	0.05%	0.62%
Gerdau Pref SA	UEVM +0.56 points	0.16%	0.72%
Guotai Haitong Securities Co Ltd H	UEVM +0.53 points	0.02%	0.55%
China Pacific Insurance (Group) H	UEVM +0.53 points	0.07%	0.60%
Vibra Energia SA	UEVM +0.52 points	0.08%	0.60%
Mol Hungarian Oil and Gas	UEVM +0.51 points	0.12%	0.63%
Ambev SA	UEVM +0.49 points	0.22%	0.71%
Delta Electronics	EMGF +0.48 points	0.73%	0.25%
Kgi Financial Holding	UEVM +0.48 points	0.17%	0.65%
Bim Birlesik Magazalar A	UEVM +0.45 points	0.05%	0.50%
Lpp SA	UEVM +0.43 points	0.21%	0.64%
The Peoples Insurance Co (Group)	UEVM +0.43 points	0.11%	0.54%
United Tractors	UEVM +0.42 points	0.08%	0.50%
Huatai Securities H	UEVM +0.42 points	0.18%	0.60%
Wt Microelectronics	UEVM +0.40 points	0.02%	0.42%
Orlen	UEVM +0.39 points	0.10%	0.49%
Otp Bank	UEVM +0.38 points	0.20%	0.58%
Ts Financial Holding	UEVM +0.36 points	0.31%	0.67%
Alamtri Resources Indonesia	UEVM +0.36 points	0.09%	0.45%
Sasol	UEVM +0.35 points	0.08%	0.43%
China International Capital H	UEVM +0.33 points	0.09%	0.42%
New China Life Insurance Company L	UEVM +0.33 points	0.11%	0.44%
Xtb	UEVM +0.33 points	0.07%	0.40%
Bank of China Ltd H	UEVM +0.32 points	0.71%	1.03%
Citic Securities Company H	UEVM +0.33 points	0.13%	0.46%
Sociedad Quimica Y Minera De Chile	UEVM +0.31 points	0.03%	0.34%
Wuxi Apptec H	UEVM +0.32 points	0.14%	0.46%
Ase Technology Holding	EMGF +0.31 points	0.67%	0.36%
Ping An Insurance (Group) Co of Ch	UEVM +0.30 points	0.36%	0.66%
International Container Terminal’sICTEF	UEVM +0.29 points	0.20%	0.49%
Yuanta Financial Holding	UEVM +0.26 points	0.47%	0.73%
Compal Electronics	UEVM +0.25 points	0.10%	0.35%
Aluminum Corporation of China Ltd	UEVM +0.24 points	0.09%	0.33%
Legend Holdings Corp H	UEVM +0.23 points	0.03%	0.26%
Nan Ya Printed Circuit Board Corp	UEVM +0.22 points	0.03%	0.25%
Kinsus Interconnect Technology Cor	UEVM +0.22 points	0.08%	0.30%
Zhen Ding Technology Holding Ltd	UEVM +0.20 points	0.06%	0.26%
Jiangxi Copper Ltd H	UEVM +0.20 points	0.03%	0.23%
Zijin Mining Group Ltd H	UEVM +0.19 points	0.13%	0.32%
Industrial and Commercial Bank of	UEVM +0.18 points	0.87%	1.05%
China Life Insurance Ltd H	UEVM +0.17 points	0.21%	0.38%
China Construction Bank Corp H	EMGF +0.16 points	1.21%	1.05%
Weichai Power Ltd H	UEVM +0.16 points	0.10%	0.26%
Elite Material	EMGF +0.15 points	0.40%	0.25%
Fubon Financial Holding	UEVM +0.14 points	0.63%	0.77%
Innolux Corp	UEVM +0.14 points	0.08%	0.22%
China Molybdenum H	UEVM +0.13 points	0.14%	0.27%
United Micro Electronics Corp	EMGF +0.12 points	0.36%	0.24%
Contemporary Amperex Technology Class	UEVM +0.11 points	0.14%	0.25%
Cia Vale Do Rio Doce Sh	UEVM +0.11 points	0.45%	0.56%
Nan Ya Plastics Corp	EMGF +0.11 points	0.43%	0.32%
Unimicron Technology	EMGF +0.06 points	0.32%	0.26%
Winbond Electronics	UEVM +0.05 points	0.19%	0.24%
King Slide Works	UEVM +0.02 points	0.23%	0.25%
Nanya Technology Corp	EMGF +0.02 points	0.24%	0.22%
Yageo	UEVM +0.02 points	0.23%	0.25%
Chroma Ate	Same weight	0.25%	0.25%

All 715 EMGF holdings⁠All 205 UEVM 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 UEVM Cost

Overpaying UEVM vs EMGF

$3,683

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

EMGF 0.26%
$5,358
UEVM 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

EMGF 0.26%
UEVM 0.45%
Overpaying

Year by year

Year	EMGF	UEVM	Overpaying
10	$473	$812	$339
20	$1,838	$3,128	$1,290
30	$5,358	$9,041	$3,683

Expense ratio

0.26%EMGF, cheaper
0.45%UEVM

EMGF0.26%UEVM0.45%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

EMGF 3rd cheapest of 20 funds

UEVM 12th cheapest of 20 funds

EMGF vs UEVM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EMGF 2.19%; UEVM 3.25%, better
Payout (12M): EMGF $1.44; UEVM $1.83
Last payment: EMGF $0.61; UEVM $0.17
Ex-dividend: EMGF Jun 15, 2026; UEVM Oct 8, 2026
Paid on: EMGF Jun 18, 2026; UEVM Oct 9, 2026
Frequency: EMGF Twice a year; UEVM Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

EMGFTwice a year · 7 paymentsAll EMGF payments⁠

UEVMMonthly · 35 paymentsAll UEVM payments⁠

EMGF vs UEVM Risk

Fall from peak · 5 years

EMGF
UEVM

Risk facts

VolatilityStd dev, 3 years: EMGF 16.3%UEVM 11.3%, better
Return per unit of riskSharpe ratio, 3 years: EMGF 1.09, betterUEVM 1.04
Worst fallMax drawdown, 5 years: EMGF −27.1%UEVM −26.3%, better
Market sensitivityBeta, 5 years: EMGF 1.02UEVM 0.72; Market = 1

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