FLLA vs VEXC: Grades, Fees and Holdings Compared

Franklin FTSE Latin America ETF

FLLABNYSE Arca

Vanguard Emerging Markets Ex-China ETF

VEXCANYSE Arca

Overlap

9.8%by weight

Expense ratio

VEXC −0.12pt a year

FLLA0.19%VEXC0.07%

Avg volume · 30D

FLLA 1.3×the volume

FLLA27.1KVEXC21.2K

FLLA vs VEXC Performance

Oct 31, 2025 – Oct 30, 2026

+14.3%FLLA+15.9%VEXC

Expense ratio: FLLA 0.19%; VEXC 0.07%, better
Fund size: FLLA $102M; VEXC $276M
1Y total return: FLLA +14.3%; VEXC +15.9%, better
Yield (12M): FLLA 5.11%; VEXC No data
Holdings: FLLA 135; VEXC 1008
Avg volume (30D): FLLA 27.1K sh, better; VEXC 21.2K sh
NAV per share: FLLA $25.52; VEXC $89.18
52W range

ETF.net Grade

Pillar letters and Scores for FLLA, VEXC, with each pillar’s weight
Pillar	FLLA	VEXC
Cost30% weight	A86	A100Higher
Mission25% weight	C49	A93Higher
Risk15% weight	D25	A85Higher
Tradability15% weight	B65	B65
Holdings10% weight	C52Higher	D38
Durability5% weight	C53	B57Higher

Rank among Emerging Markets Stocks funds

How we build Categories ›

Same Category. FLLA and VEXC are both graded against the same 20 Emerging Markets Stocks funds, so their Grades compare head to head.

Emerging Markets Stocks⁠

Category · 20 funds

See all 20 ›

VEXC ranks 1st and FLLA 13th of 20 funds in the Emerging Markets Stocks Category.

Rank 1AVEXCVanguard Emerging Markets Ex-China ETFScore 82
Rank 2AXCEMColumbia EM Core ex-China ETFScore 78
Rank 12BEWXState Street SPDR S&P Emerging Markets Small Cap ETFScore 60
Rank 13BFLLAFranklin FTSE Latin America ETFScore 59
Rank 13BSTXEStrive Emerging Markets Ex-China ETFScore 59

Our read on each fund

ETF.net Research

FLLABFranklin FTSE Latin America ETF

VEXCAVanguard Emerging Markets Ex-China ETF

In short

FLLA A single-region slice of emerging markets: FLLA tracks the FTSE Latin America Capped Index, roughly 150 stocks, for 0.19% a year, while the typical fund in its emerging-markets peer group charges more than double that.

VEXC Vanguard's emerging markets, China removed. Same index-tracking discipline, 0.07% a year, a fraction of what the typical EM fund charges. Ex-China is no longer a niche idea; this is the cheap way to own it.

Stated mandate

FLLA The Fund seeks to track, before fees and expenses, the performance of the FTSE Latin America Capped Index through replication or representative sampling.

VEXC The fund invests in emerging-market stocks while excluding China and seeks to closely track the FTSE Emerging ex China Index.

Why people hold it

FLLA 0.19% a year against a peer-group median near 0.49%. Regional access is usually where fees creep up; here it doesn't.
Roughly 150 names, and the index is capped, which limits how big any single stock can get inside the basket.
Plain index plumbing from a 2018 launch: replication or representative sampling of a published FTSE benchmark, no derivatives layer, no active stock picking.
Ranks in the upper half of its emerging-markets cohort, and pays out quarterly.

VEXC Charges 0.07% a year against a 0.49% median for emerging-markets funds, and undercuts the other top-graded names in the group, including XCEM at 0.16% and BKEM at 0.11%.
Rules-based, not opinion-based: it tracks the FTSE Emerging ex China Index, so the China carve-out is written into the mandate rather than left to a manager's discretion.vanguard.com
Splitting China out of emerging markets puts the sizing decision in your hands instead of accepting whatever weight a broad EM index assigns. Pays quarterly.vanguard.com
Ranks among the strongest implementations in its emerging-markets peer group on the things we measure: cost, mandate clarity, index discipline.

Worth knowing

FLLA Thinly traded. Spreads can widen and large orders move the price more than they would in a heavily traded fund.
One region, not a continent-spanning EM sleeve. Cohort peers like VEXC and XCEM spread across the whole emerging-markets universe; this one rides Latin America alone.
A smaller fund by assets, not one of the giants of the category.

VEXC Launched in 2025 and still thinly traded, so it lacks the trading heft of the giant EM funds. Spreads can be wider than the Vanguard name suggests.
Excluding an entire country by rule means results will drift away from broad EM funds, in both directions, depending on how China does.
The remaining basket screens more concentrated than most funds in the category, so a handful of countries and sectors drive much of the outcome.

Full FLLA profile⁠

Full VEXC profile⁠

FLLA vs VEXC Holdings

How FLLA and VEXC differ

Overlap by weight

9.8%

Shared holdings make up 96.2% of FLLA and 9.8% of VEXC.

Level by level

Holdings118 in both9.8%
Countryby domicile10.2%
Asset classEquity100%

Sector

No Sector split for VEXC.

Country, concentration and asset class

Country by domicile

Country weights in FLLA and VEXC, widest gap first
Country	More in FLLAMore in VEXC	FLLA	VEXC
Brazil	FLLA +50.2 points	56.3%	6.1%
Taiwan	VEXC +48.4 points	0.0%	48.4%
Mexico	FLLA +28.0 points	30.8%	2.8%
India	VEXC +20.5 points	0.0%	20.5%
South Africa	VEXC +15.5 points	0.0%	15.5%
Chile	FLLA +7.9 points	8.8%	0.9%
Colombia	FLLA +3.7 points	4.1%	0.4%
Malaysia	VEXC +2.1 points	0.0%	2.1%
Other countries (4)	VEXC +3.5 points	0.0%	3.5%

Outside the US: FLLA 0% developed, 100% emerging. VEXC 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

FLLA40.0%
VEXC35.5%

Securities held

FLLA130
VEXC987

Asset class

FLLA: Equity
VEXC: Equity

Holdings

Only in FLLA12
In both118
Only in VEXC869

Only in FLLA

12 securities, 3.7% of FLLA by weight

Soc Quimica Y Minera Chil1.03%
Ecopetrol SA0.53%
Net Current Assets0.48%
Kimberly-Clark De Mexico-0.41%
Grupo De Inv Suramericana0.35%
Embotelladora Andina-Pref0.26%
Cementos Argos SA0.23%
Grupo Argos Sa-Prf0.18%
Grupo De Inv Suramericana0.10%
Ccp Initial Margin Jpmorg0.08%
Axia Energia0.05%
Localiza Rent A Car SA0.02%

Only in VEXC

869 securities, 90.0% of VEXC by weight

Taiwan Semiconductor Manufacturing Co Ltd24.41%
MediaTek Inc2.91%
Delta Electronics Inc1.75%
Hon Hai Precision Industry Co Ltd1.23%
HDFC Bank Ltd1.08%
Reliance Industries Ltd1.07%
ASE Technology Holding Co Ltd0.94%
ICICI Bank Ltd0.94%
Bharti Airtel Ltd0.73%
United Microelectronics Corp0.73%
Al Rajhi Bank0.64%
Unimicron Technology Corp0.62%
Anglogold Ashanti Plc0.60%
Elite Material Co Ltd0.58%
Saudi Arabian Oil Co0.51%
Fubon Financial Holding Co Ltd0.51%
Nan Ya Plastics Corp0.51%
CTBC Financial Holding Co Ltd0.49%
Infosys Ltd0.48%
Asia Vital Components Co Ltd0.44%
Cathay Financial Holding Co Ltd0.43%
Gold Fields Ltd0.42%
Naspers Ltd0.41%
Saudi National Bank/The0.40%
TS Financial Holding Co Ltd0.40%
Kuwait Finance House KSCP0.39%
OTP Bank Nyrt0.38%
FirstRand Ltd0.38%
Axis Bank Ltd0.38%
Mahindra & Mahindra Ltd0.37%
Emaar Properties PJSC0.36%
Quanta Computer Inc0.35%
Accton Technology Corp0.35%
Bajaj Finance Ltd0.35%
Yageo Corp0.35%
Larsen & Toubro Ltd0.34%
Yuanta Financial Holding Co Ltd0.32%
Chroma ATE Inc0.32%
First Abu Dhabi Bank PJSC0.31%
Kotak Mahindra Bank Ltd0.31%
National Bank of Kuwait SAKP0.30%
Standard Bank Group Ltd0.30%
Capitec Limited0.30%
Saudi Arabian Mining Co0.29%
E.Sun Financial Holding Co Ltd0.29%
Tata Consultancy Services Ltd0.28%
Saudi Telecom Co0.28%
Nanya Technology Corp0.27%
King Slide Works Co Ltd0.27%
Valterra Platinum Ltd0.27%

Weight gaps

The 100 widest of 118 Holdings in both funds.

Holding weights in FLLA and VEXC, widest gap first
Holding	More in FLLAMore in VEXC	FLLA	VEXC
Petrobras - Petroleo Bras	FLLA +5.41 points	5.96%	0.55%
Petrobras - Petroleo Bras	FLLA +5.03 points	5.53%	0.50%
Vale SA	FLLA +4.91 points	5.53%	0.62%
Itau Unibanco Holding S-P	FLLA +4.62 points	5.21%	0.59%
Grupo Mexico Sab De Cv-Se	FLLA +4.11 points	4.57%	0.46%
Grupo Financiero Banorte-	FLLA +3.38 points	3.71%	0.33%
Fomento Economico Mexica-	FLLA +2.64 points	2.90%	0.26%
America Movil Sab De C-Se	FLLA +2.29 points	2.50%	0.21%
Cemex Sab-Cpo	FLLA +2.00 points	2.19%	0.19%
Banco Bradesco Sa-Pref	FLLA +1.64 points	1.88%	0.24%
Walmart De Mexico Sab De	FLLA +1.64 points	1.80%	0.16%
Weg SA	FLLA +1.61 points	1.79%	0.18%
Itausa SA	FLLA +1.59 points	1.80%	0.21%
Embraer SA	FLLA +1.52 points	1.69%	0.17%
B3 Sa-Brasil Bolsa Balcao	FLLA +1.46 points	1.69%	0.23%
Ambev SA	FLLA +1.39 points	1.55%	0.16%
Axia Energia SA	FLLA +1.38 points	1.56%	0.18%
Banco Btg Pactual Sa-Unit	FLLA +1.32 points	1.51%	0.19%
Prio SA	FLLA +1.32 points	1.44%	0.12%
Arca Continental Sab De C	FLLA +1.28 points	1.40%	0.12%
Cia Saneamento Basico De	FLLA +1.27 points	1.43%	0.16%
Grupo Cibest SA - Pref	FLLA +1.23 points	1.36%	0.13%
Banco De Chile	FLLA +1.01 points	1.12%	0.11%
Grupo Aeroport Del Pacifi	FLLA +0.95 points	1.04%	0.09%
Falabella SA	FLLA +0.92 points	1.02%	0.10%
Industrias Penoles Sab De	FLLA +0.91 points	1.03%	0.12%
Latam Airlines Group SA	FLLA +0.83 points	0.90%	0.07%
Suzano SA	FLLA +0.76 points	0.83%	0.07%
Grupo Cibest SA	FLLA +0.75 points	0.83%	0.08%
Equatorial SA - Ord	FLLA +0.73 points	0.83%	0.10%
Gerdau Sa-Pref	FLLA +0.70 points	0.78%	0.08%
Vibra Energia SA	FLLA +0.67 points	0.77%	0.10%
Coca-Cola Femsa Sab De Cv	FLLA +0.65 points	0.72%	0.07%
Trust Fibra Uno	FLLA +0.62 points	0.68%	0.06%
Banco Do Brasil S.a.	FLLA +0.60 points	0.70%	0.10%
Companhia Paranaense De E	FLLA +0.59 points	0.67%	0.08%
Prologis Property Mexico	FLLA +0.59 points	0.65%	0.06%
Banco De Credito E Invers	FLLA +0.58 points	0.65%	0.07%
Grupo Carso Sab De Cv-Ser	FLLA +0.57 points	0.62%	0.05%
Bb Seguridade Participaco	FLLA +0.57 points	0.63%	0.06%
Banco Santander Chile	FLLA +0.56 points	0.62%	0.06%
Rede D'or Sao Luiz SA	FLLA +0.53 points	0.60%	0.07%
Grupo Bimbo Sab- Series A	FLLA +0.52 points	0.57%	0.05%
Localiza Rent A Car	FLLA +0.52 points	0.61%	0.09%
Eneva SA	FLLA +0.52 points	0.58%	0.06%
Ultrapar Participacoes SA	FLLA +0.50 points	0.57%	0.07%
Telefonica Brasil S.a.	FLLA +0.49 points	0.54%	0.05%
Grupo Aeroport Del Surest	FLLA +0.48 points	0.53%	0.05%
Itau Unibanco Holding SA	FLLA +0.48 points	0.54%	0.06%
Fibra Mty Sapi De Cv	FLLA +0.47 points	0.52%	0.05%
Interconexion Electrica’s	FLLA +0.43 points	0.48%	0.05%
Raia Drogasil SA	FLLA +0.44 points	0.50%	0.06%
Grupo Aeroportuario Del C	FLLA +0.43 points	0.47%	0.04%
Rumo SA	FLLA +0.42 points	0.48%	0.06%
Banco Bradesco S.a.	FLLA +0.42 points	0.50%	0.08%
Energisa Sa-Units	FLLA +0.41 points	0.47%	0.06%
Sigma Foods Sab De Cv	FLLA +0.41 points	0.45%	0.04%
Cia Energetica Minas Ger-	FLLA +0.39 points	0.44%	0.05%
Corp Inmobiliaria Vesta’s	FLLA +0.38 points	0.42%	0.04%
Totvs SA	FLLA +0.37 points	0.42%	0.04%
Motiva Infraestrutura De	FLLA +0.38 points	0.43%	0.05%
Grupo Financiero Inbursa-	FLLA +0.35 points	0.39%	0.04%
Promotora Y Operadora De	FLLA +0.35 points	0.38%	0.03%
Plaza SA Y Filiales	FLLA +0.34 points	0.38%	0.04%
Klabin SA - Unit	FLLA +0.34 points	0.38%	0.04%
Tim SA	FLLA +0.33 points	0.37%	0.04%
Parque Arauco S.a.	FLLA +0.32 points	0.35%	0.03%
Empresas Copec SA	FLLA +0.32 points	0.34%	0.03%
Caixa Seguridade Particip	FLLA +0.29 points	0.32%	0.03%
Megacable Holdings-Cpo	FLLA +0.29 points	0.32%	0.03%
Banco Del Bajio SA	FLLA +0.28 points	0.31%	0.03%
Gentera Sab De Cv	FLLA +0.26 points	0.29%	0.03%
Mbrf Global Foods Company	FLLA +0.26 points	0.29%	0.03%
Cia Saneamento Minas Gera	FLLA +0.26 points	0.29%	0.03%
Qualitas Controladora Sab	FLLA +0.26 points	0.28%	0.02%
Engie Brasil Energia SA	FLLA +0.26 points	0.29%	0.03%
Cencosud SA	FLLA +0.25 points	0.28%	0.03%
Regional Sab De Cv	FLLA +0.25 points	0.27%	0.02%
Enel Chile SA	FLLA +0.24 points	0.27%	0.03%
Gruma S.a.b.-B	FLLA +0.22 points	0.25%	0.03%
Sendas Distribuidora SA	FLLA +0.22 points	0.26%	0.04%
Banco Santander Brasil-Un	FLLA +0.21 points	0.24%	0.03%
Alpek SA De Cv	FLLA +0.21 points	0.23%	0.02%
Metalurgica Gerdau Sa-Pre	FLLA +0.21 points	0.23%	0.02%
Lojas Renner S.a.	FLLA +0.19 points	0.22%	0.03%
Enel Americas SA	FLLA +0.19 points	0.21%	0.02%
Transmissora Alianca De-U	FLLA +0.19 points	0.21%	0.02%
Gcc Sab De Cv	FLLA +0.19 points	0.21%	0.02%
Grupo Comercial Chedraui	FLLA +0.18 points	0.20%	0.02%
Porto Seguro SA	FLLA +0.18 points	0.20%	0.02%
Smartfit - Ordinary	FLLA +0.18 points	0.20%	0.02%
Allos SA	FLLA +0.18 points	0.20%	0.02%
Isa Energia Brasil SA	FLLA +0.18 points	0.20%	0.02%
Multiplan Empreendimentos	FLLA +0.18 points	0.20%	0.02%
Cpfl Energia SA	FLLA +0.17 points	0.19%	0.02%
Hypera SA	FLLA +0.17 points	0.19%	0.02%
Alsea Sab De Cv	FLLA +0.16 points	0.18%	0.02%
Banco Itau Chile SA	FLLA +0.16 points	0.18%	0.02%
Quinenco S.a.	FLLA +0.15 points	0.17%	0.02%
Colbun SA	FLLA +0.14 points	0.15%	0.01%

All 154 FLLA holdings⁠All VEXC 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.

FLLA vs VEXC Cost

Overpaying FLLA vs VEXC

$2,472

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

FLLA 0.19%
$3,952
VEXC 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

FLLA 0.19%
VEXC 0.07%
Overpaying

Year by year

Year	FLLA	VEXC	Overpaying
10	$347	$128	$219
20	$1,351	$503	$848
30	$3,952	$1,480	$2,472

Expense ratio

0.19%FLLA
0.07%VEXC, cheaper

VEXC0.07%FLLA0.19%

0.07%0.91%

Middle half of Emerging Markets Stocks funds
Median 0.45%

VEXC cheapest of 20 funds

FLLA 4th cheapest of 20 funds

FLLA vs VEXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLLA 5.11%; VEXC No data
Payout (12M): FLLA $1.30; VEXC No data
Last payment: FLLA $0.37; VEXC $0.54
Ex-dividend: FLLA Jun 26, 2026; VEXC Sep 18, 2026
Paid on: FLLA Jul 6, 2026; VEXC Sep 22, 2026
Frequency: FLLA Twice a year; VEXC Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

FLLATwice a year · 19 paymentsAll FLLA payments⁠

VEXCQuarterly · 4 paymentsAll VEXC payments⁠

FLLA vs VEXC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FLLA 19.5%VEXC 19.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years: FLLA 0.51VEXC 0.65since Nov 2025
Worst fallMax drawdown, 5 years: FLLA −28.3%VEXC −12.4%since Oct 2025
Market sensitivityBeta, 5 years: FLLA 0.99VEXC 1.14; Market = 1

FLLA and VEXC in the news

All news⁠

Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026FLLA
Top Movers
Brazil funds fall as much as 31.6% after Lula wins the runoff
Oct 26, 2026FLLA
Top Movers
Brazil funds held their election gain through Friday
Oct 9, 2026FLLA
First-Year Review
Vanguard Emerging Markets ex-China returned 27.4%; iShares MSCI ex China returned 48.6%
Oct 1, 2026VEXC
ETF Filings
Chile's LarrainVial files an active Latin America ETF through Tidal
Sep 23, 2026FLLA
Deep Dive
Korea's 3.9% drop split two kinds of emerging-markets fund
Sep 20, 2026VEXC

Popular comparisons

FLLABvsXCEMA
Franklin FTSE Latin America ETF · Columbia EM Core ex-China ETF
Expense ratio
0.19% · 0.16%
Category
VEXCAvsXCEMA
Vanguard Emerging Markets Ex-China ETF · Columbia EM Core ex-China ETF
Expense ratio
0.07% · 0.16%
Category
FLLABvsBKEMA
Franklin FTSE Latin America ETF · BNY Mellon Emerging Markets Equity ETF
Expense ratio
0.19% · 0.11%
Category
VEXCAvsBKEMA
Vanguard Emerging Markets Ex-China ETF · BNY Mellon Emerging Markets Equity ETF
Expense ratio
0.07% · 0.11%
Category
FLLABvsXSOEA
Franklin FTSE Latin America ETF · WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
Expense ratio
0.19% · 0.32%
Category
VEXCAvsXSOEA
Vanguard Emerging Markets Ex-China ETF · WisdomTree Emerging Markets ex-State-Owned Enterprises Fund
Expense ratio
0.07% · 0.32%
Category

FLLA vs VEXC

In short

Stated mandate

Why people hold it