EMXF vs ESGE: Grades, Fees and Holdings Compared

iShares ESG Advanced MSCI EM ETF

EMXFANasdaq

iShares ESG Aware MSCI EM ETF

ESGEANasdaq

Overlap

53.0%by weight

Expense ratio

EMXF −0.09pt a year

EMXF0.16%ESGE0.25%

Avg volume · 30D

ESGE 77.9×the volume

EMXF8.51KESGE663K

5Y return · a year

EMXF +0.4pt

EMXF+6.5%ESGE+6.1%

EMXF vs ESGE Performance

Oct 29, 2021 – Oct 30, 2026

+36.8%EMXF+34.6%ESGE

Expense ratio: EMXF 0.16%, better; ESGE 0.25%
Fund size: EMXF $157M; ESGE $6.25B
1Y total return: EMXF +15.8%, better; ESGE +13.3%
Yield (12M): EMXF 2.91%, better; ESGE 2.29%
Holdings: EMXF 586; ESGE 318
Avg volume (30D): EMXF 8.51K sh; ESGE 663K sh, better
NAV per share: EMXF $52.30; ESGE $49.38
52W range

ETF.net Grade

Pillar letters and Scores for EMXF, ESGE, with each pillar’s weight
Pillar	EMXF	ESGE
Cost30% weight	A84Higher	B63
Mission25% weight	A100	A100
Risk15% weight	A70Higher	C53
Tradability15% weight	B57	A92Higher
Holdings10% weight	A78Higher	B61
Durability5% weight	C49	A95Higher

Rank among Emerging Markets ESG & Values Index funds

How we build Categories ›

Same Category. EMXF and ESGE are both graded against the same 12 Emerging Markets ESG & Values Index funds, so their Grades compare head to head.

Emerging Markets ESG & Values Index⁠

Category · 12 funds

See all 12 ›

EMXF ranks 1st and ESGE 2nd of 12 funds in the Emerging Markets ESG & Values Index Category.

Rank 1AEMXFiShares ESG Advanced MSCI EM ETFScore 79
Rank 2AESGEiShares ESG Aware MSCI EM ETFScore 76
Rank 3AEMCSXtrackers MSCI Emerging Markets Climate Selection ETFScore 74

Our read on each fund

ETF.net Research

EMXFAiShares ESG Advanced MSCI EM ETF

ESGEAiShares ESG Aware MSCI EM ETF

In short

EMXF The strict end of ESG in emerging markets. EMXF follows an index that demands stronger ESG ratings, screens out a long list of controversial businesses, and caps any single issuer at 5% so no one giant runs the show.

ESGE The ESG emerging-markets fund built to not feel different: it screens MSCI's EM universe for environmental, social and governance traits while keeping risk and return close to the parent index, for 0.25% a year.

Stated mandate

EMXF The fund is designed to follow an emerging-market equity index that emphasizes stronger ESG ratings and applies extensive screens to controversial business activities.

ESGE The fund seeks to track large- and mid-capitalization emerging-market equities with positive environmental, social, and governance characteristics, while maintaining risk and return characteristics similar to its parent index.

Why people hold it

EMXF The "Advanced" label means deep screening: an index built on stronger ESG ratings plus extensive exclusions for controversial business activities, not one or two token cuts.ishares.com
The index caps each issuer at 5%, which matters in emerging markets, where plain cap-weighted portfolios lean hard on a few chip and tech behemoths.ishares.com
0.16% a year is modest for a heavily screened fund, and it sits below the typical expense ratio in its emerging-markets peer group.
Roughly 600 large and mid caps across emerging markets: the screens trim the field without collapsing it into a concentrated handful of names.

ESGE 0.25% a year, below the typical fee among ESG emerging-market ETFs.
"Aware" is the whole design: the index tilts toward better ESG-rated companies while targeting risk and return characteristics similar to the standard MSCI EM parent.ishares.com
Trading since 2016 and now a multi-billion-dollar, actively traded fund, which is a rare combination in a corner full of small, thinly used products.
Does exactly what its name says: full-time exposure to large- and mid-cap emerging-market stocks via the MSCI Emerging Markets Extended ESG Focus Index, one of the cleanest mandate fits in its peer group.ishares.com

Worth knowing

EMXF Unscreened emerging-markets trackers such as VWO and SCHE run at a fraction of this expense ratio. The screening is what you are paying for.
A smaller, thinly traded fund. Spreads can widen, so the price on screen and the price you get are not always the same thing.
Cutting whole slices of the emerging-markets universe means this portfolio can look and behave quite differently from a standard EM index, in either direction.

ESGE It is a tilt, not a purge. Because the index chases parent-like risk and return, the lineup stays close to mainstream EM rather than a deep-green portfolio.ishares.com
Screening narrows the field to roughly 300 stocks, so holdings and country weights drift from a plain emerging-markets index fund.
Not the cheapest badge in the aisle: sibling LDEM runs 0.16%, though it takes a stricter ESG-leaders approach.

Full EMXF profile⁠

Full ESGE profile⁠

EMXF vs ESGE Holdings

How EMXF and ESGE differ

Overlap by weight

53.0%

Shared holdings make up 76.9% of ESGE and 74.9% of EMXF.

Level by level

Holdings229 in both53.0%
Sector11 Sectors80.2%
Countryby domicile89.0%
Asset classEquity100%

Sector

Sector weights in EMXF and ESGE, widest gap first
Sector	More in EMXFMore in ESGE	EMXF	ESGE
Technology	ESGE +13.6 points	29.1%	42.7%
Financials	EMXF +13.5 points	38.4%	24.9%
Materials	ESGE +2.4 points	2.4%	4.8%
Communication	EMXF +2.1 points	9.0%	6.9%
Energy	ESGE +2.1 points	0.0%	2.1%
Health Care	EMXF +1.9 points	4.1%	2.2%
Industrials	EMXF +1.2 points	5.8%	4.6%
Consumer Discretionary	ESGE +1.1 points	6.0%	7.1%
Utilities	ESGE +0.7 points	0.6%	1.3%
Consumer Staples	EMXF +0.6 points	3.0%	2.4%
Real Estate	EMXF +0.5 points	1.6%	1.1%

Country, concentration and asset class

Country by domicile

Country weights in EMXF and ESGE, widest gap first
Country	More in EMXFMore in ESGE	EMXF	ESGE
South Korea	ESGE +6.7 points	14.5%	21.2%
China	EMXF +6.1 points	26.5%	20.4%
Taiwan	ESGE +3.9 points	27.3%	31.2%
Saudi Arabia	EMXF +2.5 points	9.9%	7.4%
Mexico	EMXF +0.8 points	2.2%	1.4%
Other countries (5)	EMXF +1.3 points	19.7%	18.4%

Outside the US: EMXF 0% developed, 100% emerging. ESGE 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EMXF27.1%
ESGE38.4%

Securities held

EMXF563
ESGE297

Asset class

EMXF: Equity
ESGE: Equity

Holdings

Only in EMXF334
In both229
Only in ESGE68

Only in EMXF

334 securities, 25.2% of EMXF by weight

Itau Unibanco Holding Pref SA0.73%
The Saudi National Bank0.53%
Otp Bank0.52%
Kuwait Finance House0.52%
Capitec Shs0.45%
National Bank of Kuwait0.45%
Celltrion0.41%
Emirates Telecommunications Group0.37%
Mega Financial Holding Ltd0.36%
America Movil B0.35%
Public Bank0.32%
National Bank of Greece0.27%
Hua Nan Financial Holdings0.27%
Itausa Investimentos Itau Pref SA0.25%
Lg Energy Solution Ltd0.23%
Ke Holdings0.22%
Uni-President Enterprises0.22%
Bank Pekao SA0.22%
Power Grid Corporation of India0.22%
China Resources Land0.21%
Pzu SA0.19%
Tech Mahindra0.19%
Riyad Bank0.19%
Novatek Microelectronics0.19%
Taiwan Cooperative Financial Holdi0.19%
Interglobe Aviation Ltd0.18%
Shoprite Holdings Ltd0.18%
Nongfu Spring Ltd H0.18%
Bid Corporation0.18%
Bank Rakyat Indonesia (Persero)0.18%
Wuxi Apptec H0.17%
Qatar Islamic Bank0.17%
Evergreen Marine Corp (Taiwan) Ltd0.17%
Laurus Labs Ltd0.17%
Grupo Aeroportuario Del Pacifico0.16%
Saudi Awwal Bank0.16%
Banco De Chile0.16%
Bank of Communications Ltd H0.15%
Cspc Pharmaceutical Group0.15%
Sbi Life Insurance Company Ltd0.15%
Alpha Bank SA0.15%
Sociedad Quimica Y Minera De Chile0.14%
Lpp SA0.14%
Cipla Ltd0.14%
Aldar Properties0.14%
Latam Airlines Group0.14%
Cholamandalam Investment and Finan0.14%
Dr Reddys Laboratories0.13%
Nestle India Ltd0.13%
Chang Hwa Commercial Bank Ltd0.13%

Only in ESGE

68 securities, 23.2% of ESGE by weight

Samsung Electronics Ltd7.06%
Alibaba Group Holding1.63%
Samsung Electronics Non Voting Pre1.03%
Hon Hai Precision Industry0.72%
Petroleo Brasileiro SA Petrobras0.63%
Icici Bank0.61%
Gold Fields0.46%
Reliance Industries Ltd0.43%
Byd H0.41%
Nedbank Group Ltd0.36%
Anglogold Ashanti PLC0.34%
Enel Chile SA0.34%
Sunway Bhd0.34%
Infosys0.33%
Nan Ya Plastics Corp0.32%
Lenovo Group0.31%
Sk Inc0.31%
Unimicron Technology0.30%
Cia Paranaense De Energia Copel0.30%
Ptt Non-Voting Dr0.29%
Gek Terna0.29%
Sk Innovation Ltd0.27%
Enn Energy Holdings Ltd0.26%
Samsung C&T Corp0.25%
Upl0.24%
Ambev SA0.23%
Naver0.23%
Vibra Energia SA0.22%
Dabur India0.21%
Mol Hungarian Oil and Gas0.20%
Yum China Holdings Inc0.19%
Elite Material0.19%
Orlen0.18%
China Molybdenum H0.17%
Standard Bank Group0.17%
Bco Btg Pactual Unt SA0.17%
Haci Omer Sabanci Holding A0.16%
Idfc First Bank Ltd0.16%
Posco0.16%
Grupo Mexico B0.16%
Sasol0.15%
Petrochina H0.14%
Lg Electronics Inc0.14%
Siam Cement Non-Voting Dr Pcl0.13%
Wipro0.12%
Southern Copper Corp0.12%
Geely Automobile Holdings Ltd0.11%
Citic Ltd0.10%
Mtn Group0.10%
Hyundai Motor0.10%

Weight gaps

The 100 widest of 229 Holdings in both funds.

Holding weights in EMXF and ESGE, widest gap first
Holding	More in EMXFMore in ESGE	EMXF	ESGE
Taiwan Semiconductor Manufacturing	ESGE +10.70 points	5.24%	15.94%
Tencent Holdings	EMXF +2.16 points	4.53%	2.37%
Mediatek	EMXF +1.70 points	3.26%	1.56%
Chunghwa Telecom Ltd	ESGE +0.88 points	0.35%	1.23%
Hdfc Bank	EMXF +0.71 points	1.57%	0.86%
Bank of China Ltd H	EMXF +0.71 points	0.99%	0.28%
China Construction Bank Corp H	EMXF +0.69 points	2.08%	1.39%
Delta Electronics	EMXF +0.68 points	1.50%	0.82%
Fubon Financial Holding	EMXF +0.65 points	0.78%	0.13%
Xiaomi	EMXF +0.62 points	1.08%	0.46%
Ase Technology Holding	EMXF +0.61 points	1.28%	0.67%
Nu Holdings Class ANU	EMXF +0.59 points	0.79%	0.20%
Sk Square	EMXF +0.54 points	1.17%	0.63%
Industrial and Commercial Bank of	EMXF +0.51 points	1.24%	0.73%
Nepi Rockcastle	ESGE +0.46 points	0.10%	0.56%
Naspers Limited Class N	EMXF +0.44 points	0.57%	0.13%
Meituan	EMXF +0.44 points	0.87%	0.43%
Vodacom Group Ltd	ESGE +0.40 points	0.11%	0.51%
Samsung Electro Mechanics Ltd	EMXF +0.37 points	0.95%	0.58%
Motiva Infraestrutura De Mobilidad	ESGE +0.36 points	0.05%	0.41%
Trip.com Group	EMXF +0.35 points	0.44%	0.09%
Hdfc Life Insurance Company Ltd	ESGE +0.34 points	0.10%	0.44%
Jd.com Class A	EMXF +0.32 points	0.55%	0.23%
Ctbc Financial Holding	EMXF +0.32 points	0.73%	0.41%
Moneta Money Bnk	ESGE +0.31 points	0.04%	0.35%
Accton Technology	EMXF +0.31 points	0.47%	0.16%
Far Eastone Telecommunications Ltd	ESGE +0.30 points	0.11%	0.41%
China Life Insurance Ltd H	EMXF +0.29 points	0.43%	0.14%
Yageo	EMXF +0.28 points	0.45%	0.17%
Beone Medicines AG	EMXF +0.28 points	0.43%	0.15%
Netease	EMXF +0.27 points	0.75%	0.48%
Industrial Bank A	ESGE +0.27 points	0.07%	0.34%
Axis Bank	ESGE +0.26 points	0.56%	0.82%
First Financial Holding Ltd	ESGE +0.25 points	0.29%	0.54%
Yuanta Financial Holding	ESGE +0.26 points	0.46%	0.72%
Engie Brasil Energia SA	ESGE +0.25 points	0.03%	0.28%
Press Metal Aluminium Holdings	ESGE +0.25 points	0.12%	0.37%
Agricultural Bank of China H	EMXF +0.25 points	0.45%	0.20%
Allegro SA	ESGE +0.24 points	0.27%	0.51%
Ts Financial Holding	EMXF +0.23 points	0.55%	0.32%
Marico	ESGE +0.23 points	0.08%	0.31%
Wuxi Apptec A	ESGE +0.23 points	0.06%	0.29%
Asia Vital Components	EMXF +0.23 points	0.60%	0.37%
China Merchants Bank A	ESGE +0.21 points	0.16%	0.37%
State Bank of India	EMXF +0.21 points	0.35%	0.14%
Kgi Financial Holding	EMXF +0.20 points	0.33%	0.13%
Aspeed Technology	EMXF +0.20 points	0.34%	0.14%
Asustek Computer Inc	EMXF +0.20 points	0.33%	0.13%
Wiwynn Corporation	EMXF +0.20 points	0.31%	0.11%
Delta Electronics (Thailand) Non-V	EMXF +0.20 points	0.35%	0.15%
First Abu Dhabi Bank	EMXF +0.19 points	0.42%	0.23%
Saudi Arabian Mining	EMXF +0.20 points	0.33%	0.13%
Etihad Etisalat	ESGE +0.19 points	0.11%	0.30%
Kb Financial Group	EMXF +0.19 points	0.74%	0.55%
King Slide Works	EMXF +0.18 points	0.37%	0.19%
Malayan Banking	ESGE +0.19 points	0.22%	0.41%
Icici Life Insurance Ltd	ESGE +0.18 points	0.03%	0.21%
China Minsheng Banking A	ESGE +0.18 points	0.02%	0.20%
Eternal	EMXF +0.17 points	0.32%	0.15%
Bosideng International	ESGE +0.17 points	0.05%	0.22%
United Micro Electronics Corp	EMXF +0.18 points	0.73%	0.55%
Huatai Securities A	ESGE +0.18 points	0.02%	0.20%
Bank Central Asia	EMXF +0.18 points	0.26%	0.08%
Chroma Ate	EMXF +0.17 points	0.37%	0.20%
Samsung Life Ltd	EMXF +0.17 points	0.30%	0.13%
Ping An Insurance (Group) Co of Ch	EMXF +0.17 points	0.74%	0.57%
Baidu	EMXF +0.17 points	0.38%	0.21%
Voltas Ltd	ESGE +0.17 points	0.04%	0.21%
Wistron	EMXF +0.17 points	0.35%	0.18%
China Merchants Bank H	EMXF +0.17 points	0.50%	0.33%
Cimb Group Holdings	ESGE +0.17 points	0.25%	0.42%
B3 Brasil Bolsa Balcao SA	ESGE +0.16 points	0.24%	0.40%
Emirates Nbd	EMXF +0.16 points	0.28%	0.12%
Eva Airways	ESGE +0.16 points	0.06%	0.22%
Doosan Enerbility Ltd	EMXF +0.16 points	0.35%	0.19%
Sanlam Limited Ltd	ESGE +0.16 points	0.17%	0.33%
Asian Paints	ESGE +0.15 points	0.18%	0.33%
Lite On Technology	EMXF +0.15 points	0.27%	0.12%
Ammb Holdings	ESGE +0.15 points	0.07%	0.22%
Sd Guthrie	ESGE +0.14 points	0.07%	0.21%
Nanya Technology Corp	EMXF +0.13 points	0.33%	0.20%
Kasikornbank Public Non-Voting Dr	ESGE +0.13 points	0.08%	0.21%
Clicks Group	ESGE +0.13 points	0.06%	0.19%
Mahindra and Mahindra Ltd	EMXF +0.13 points	0.49%	0.36%
Samsung Fire & Marine Insurance Lt	EMXF +0.13 points	0.27%	0.14%
Walmart De Mexico V	EMXF +0.13 points	0.23%	0.10%
Emaar Properties	EMXF +0.12 points	0.36%	0.24%
Li Auto Class A	ESGE +0.12 points	0.12%	0.24%
Sk Hynix	ESGE +0.12 points	5.23%	5.35%
Kakaobank	ESGE +0.12 points	0.05%	0.17%
China Citic Bank Corp Ltd H	ESGE +0.12 points	0.16%	0.28%
Abu Dhabi Commercial Bank	ESGE +0.11 points	0.26%	0.37%
Cemex Cpo	ESGE +0.12 points	0.30%	0.42%
Credicorp LtdBAP	EMXF +0.11 points	0.44%	0.33%
Kuaishou Technology	EMXF +0.11 points	0.18%	0.07%
Shenzhen Inovance Technology A	ESGE +0.11 points	0.01%	0.12%
Realtek Semiconductor	EMXF +0.11 points	0.22%	0.11%
Banco Bradesco Pref	EMXF +0.10 points	0.27%	0.17%
Eicher Motors Ltd	EMXF +0.10 points	0.20%	0.10%
Seres Group A	ESGE +0.10 points	<0.01%	0.11%

All 561 EMXF holdings⁠All 295 ESGE 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.

EMXF vs ESGE Cost

Overpaying ESGE vs EMXF

$1,817

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

EMXF 0.16%
$3,342
ESGE 0.25%
$5,159

Amount$10,000

Years30 years

Cost over time

EMXF 0.16%
ESGE 0.25%
Overpaying

Year by year

Year	EMXF	ESGE	Overpaying
10	$292	$455	$163
20	$1,141	$1,769	$628
30	$3,342	$5,159	$1,817

Expense ratio

0.16%EMXF, cheaper
0.25%ESGE

EMXF0.16%ESGE0.25%

0.15%1.25%

Middle half of Emerging Markets ESG & Values Index funds
Median 0.33%

EMXF 3rd cheapest of 12 funds

ESGE 5th cheapest of 12 funds

EMXF vs ESGE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EMXF 2.91%, better; ESGE 2.29%
Payout (12M): EMXF $1.53; ESGE $1.13
Last payment: EMXF $0.47; ESGE $0.40
Ex-dividend: EMXF Jun 15, 2026; ESGE Jun 15, 2026
Paid on: EMXF Jun 18, 2026; ESGE Jun 18, 2026
Frequency: EMXF Twice a year; ESGE Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EMXFTwice a year · 13 paymentsAll EMXF payments⁠

ESGETwice a year · 20 paymentsAll ESGE payments⁠

EMXF vs ESGE Risk

Fall from peak · 5 years

EMXF
ESGE

Risk facts

VolatilityStd dev, 3 years: EMXF 14.6%, betterESGE 16.1%
Return per unit of riskSharpe ratio, 3 years: EMXF 1.04ESGE 1.05, better
Worst fallMax drawdown, 5 years: EMXF −30.6%, betterESGE −35.1%
Market sensitivityBeta, 5 years: EMXF 0.94ESGE 0.99; Market = 1

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