IEMG vs VWO Overlap
IEMG is an emerging-markets equity ETF from IShares, while VWO is an emerging-markets equity ETF from Vanguard. IEMG and VWO show meaningful overlap, with an estimated weighted overlap of 45.93%. They share 1409 holdings in the loaded dataset, led by 0700.HK, 9988.HK, and 0939.HK.
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Quick Answer
IEMG is an emerging-markets equity ETF from IShares, while VWO is an emerging-markets equity ETF from Vanguard. IEMG and VWO show meaningful overlap, with an estimated weighted overlap of 45.93%. They share 1409 holdings in the loaded dataset, led by 0700.HK, 9988.HK, and 0939.HK.
- 45.93% weighted overlap across 1409 shared holdings.
- The top three shared holdings explain 14.38% of the measured overlap.
- IEMG and VWO are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- IEMG holdings
- Mar 12, 2026
- VWO holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
IEMG is an emerging-markets equity ETF from IShares, while VWO is an emerging-markets equity ETF from Vanguard. IEMG and VWO overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as 0700.HK, 9988.HK, and 0939.HK, which explains why the score lands at 45.93%.
How They Differ
IEMG is an emerging-markets equity ETF from IShares, while VWO is an emerging-markets equity ETF from Vanguard. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VWO has the lower expense ratio, while IEMG charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 14.38% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
Because IEMG and VWO are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VWO has the lower expense ratio, while IEMG charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 14.38% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between IEMG and VWO.
| Holding | Name | IEMG Wt. | VWO Wt. | Overlap |
|---|---|---|---|---|
| 0700.HK | TENCENT HOLDINGS LTD | 3.54% | 4.15% | 3.54% |
| 9988.HK | ALIBABA GROUP HOLDING LTD | 2.30% | 3.32% | 2.30% |
| 0939.HK | CHINA CONSTRUCTION BANK CORP H | 0.76% | 0.77% | 0.76% |
| RELIANCE.BO | RELIANCE INDUSTRIES LTD | 0.73% | 0.90% | 0.73% |
| 2317.TW | HON HAI PRECISION INDUSTRY LTD | 0.65% | 0.73% | 0.65% |
| 2454.TW | MEDIATEK INC | 0.64% | 0.71% | 0.64% |
| 2308.TW | DELTA ELECTRONICS INC | 0.62% | 0.64% | 0.62% |
| PDD | PDD HOLDINGS ADS INC | 0.58% | 0.67% | 0.58% |
| VALE3.SA | CIA VALE DO RIO DOCE SH | 0.44% | 0.50% | 0.44% |
| 2318.HK | PING AN INSURANCE (GROUP) CO OF CH | 0.43% | 0.53% | 0.43% |
Why These ETFs Overlap
IEMG is an emerging-markets equity ETF from IShares, while VWO is an emerging-markets equity ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are 0700.HK, 9988.HK, and 0939.HK, which appear in both portfolios and push the overlap score higher.
Holding both IEMG and VWO can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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Frequently Asked Questions About IEMG and VWO
What is the overlap between IEMG and VWO?+
How many holdings do IEMG and VWO share?+
Is the IEMG and VWO overlap high?+
Why do IEMG and VWO overlap?+
Which ETF is broader, IEMG or VWO?+
How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.