VWOEmerging markets
VANGUARD EMERGING MARKETS STOCK INDEX FUND
6,393holdings
0.06%annual fee
USmarket
Valuation3,524 companies covered
18.0×P / E73% by weight
1.23×P / B69% by weight
5.5%Earnings yield
ETF comparisons / VWO vs IEMG
Emerging markets comparison · VWO 2026-07-31 · IEMG 2026-10-12
VWO vs IEMG
VANGUARD EMERGING MARKETS STOCK INDEX FUND compared with iShares Core MSCI Emerging Markets ETF
The funds share a substantial core but differ outside it.VWO has 3,602 companies outside the overlap; IEMG has 567.
Do VWO and IEMG overlap?
VWO and IEMG overlap by 64.5% by weight, across 1,224 shared companies.
IEMGEmerging markets
iShares Core MSCI Emerging Markets ETF
2,907holdings
0.09%annual fee
USmarket
Valuation117 companies covered
4.5×P / E12% by weight
0.38×P / B21% by weight
22.1%Earnings yield
Price development
Both lines rebased to 0% over their shared dates
Largest shared positions
1,224 companies held in both funds
VWO weight
IEMG weight
| Shared company | VWO | IEMG |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co., Ltd. 2330 2 share classes | 15.09% | 14.16% |
| ↳ Taiwan Semiconductor Manufacturing Co., Ltd. 2330 | 15.08% | 14.16% |
| ↳ TAIWAN SEMICONDUCTOR-SP ADR TSM | 0.02% | 0.00% |
| Tencent Holdings Limited 700 | 3.21% | 2.41% |
| Alibaba Group Holding Limited 9988 | 2.34% | 1.68% |
| MediaTek Inc. 2454 | 1.31% | 1.51% |
| DELTA ELECTRONICS, INC. 2308 | 0.80% | 0.84% |
| CHINA CONSTRUCTION BANK CORPORATION 939 2 share classes | 0.88% | 0.78% |
| ↳ CHINA CONSTRUCTION BANK CORPORATION 939 | 0.87% | 0.77% |
| ↳ CHINA CONSTRUCTION BANK CORPORATION 601939 | 0.01% | 0.01% |
| HON HAI PRECISION INDUSTRY CO., LTD. 2317 | 0.78% | 0.68% |
| Petroleo Brasileiro S.A. (Petrobras) PETR4 3 share classes | 0.63% | 0.72% |
| ↳ Petroleo Brasileiro S.A. (Petrobras) PETR4 | 0.32% | 0.37% |
| ↳ Petroleo Brasileiro S.A. (Petrobras) PETR3 | 0.30% | 0.34% |
| ↳ Petroleo Brasileiro S.A. (Petrobras) PBR/A | 0.01% | 0.00% |
| HDFC BANK LIMITED HDFCB | 0.75% | 0.61% |
| ICICI BANK LIMITED ICICIBC | 0.67% | 0.53% |
| RELIANCE INDUSTRIES LIMITED RELIANCE | 0.77% | 0.50% |
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED 1398 2 share classes | 0.65% | 0.49% |
| ↳ INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED 1398 | 0.64% | 0.45% |
| ↳ INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED 601398 | 0.01% | 0.04% |
| ASE Technology Holding Co., Ltd. 3711 2 share classes | 0.47% | 0.58% |
| ↳ ASE Technology Holding Co., Ltd. 3711 | 0.47% | 0.58% |
| ↳ ASE Technology Holding Co., Ltd. ASX | 0.00% | 0.00% |
| Itau Unibanco Holding S.A. ITUB4 3 share classes | 0.42% | 0.42% |
| ↳ Itau Unibanco Holding S.A. ITUB4 | 0.34% | 0.39% |
| ↳ Itau Unibanco Holding S.A. ITUB | 0.05% | 0.00% |
| ↳ Itau Unibanco Holding SA ITUB3 | 0.04% | 0.03% |
| BANK OF CHINA LIMITED 3988 2 share classes | 0.40% | 0.40% |
| ↳ BANK OF CHINA LIMITED 3988 | 0.40% | 0.38% |
| ↳ BANK OF CHINA LIMITED 601988 | 0.00% | 0.02% |
| XIAOMI CORPORATION 1810 HK 2 share classes | 0.53% | 0.38% |
| ↳ XIAOMI CORPORATION 1810 HK | 0.53% | 0.38% |
| ↳ Xiaomi Corp XIACY | 0.00% | 0.00% |
| BHARTI AIRTEL LIMITED BHARTI | 0.53% | 0.37% |
| UNITED MICROELECTRONICS CORP. 2303 2 share classes | 0.37% | 0.37% |
| ↳ UNITED MICROELECTRONICS CORP. 2303 | 0.30% | 0.37% |
| ↳ UNITED MICROELECTRONICS CORP. UMC | 0.06% | 0.00% |
| ELITE MATERIAL CO., LTD. 2383 | 0.35% | 0.40% |
| MEITUAN 3690 | 0.54% | 0.33% |
| NETEASE, INC. 9999 HK | 0.41% | 0.32% |
| Ping An Insurance (Group) Company of China, Ltd. 2318 2 share classes | 0.41% | 0.32% |
| ↳ Ping An Insurance (Group) Company of China, Ltd. 2318 | 0.40% | 0.29% |
| ↳ Ping An Insurance (Group) Company of China, Ltd. 601318 | 0.01% | 0.03% |
| Anglogold Ashanti Plc AU | 0.32% | 0.34% |
| PDD Holdings Inc. PDD | 0.57% | 0.30% |
| Saudi Arabian Oil Company 2222 | 0.35% | 0.30% |
VWO and IEMG questions
Based on the holdings compared above
How much do VWO and IEMG overlap?
VWO and IEMG overlap by 64.5% by weight, across 1,224 shared companies.
Which companies do VWO and IEMG both hold?
The largest companies held in both funds are Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Limited, Alibaba Group Holding Limited, MediaTek Inc., DELTA ELECTRONICS, INC..
Can I hold both VWO and IEMG?
Holding both means 64.5% of that part of your portfolio is the same companies counted twice. That can suit you or not depending on your goals; this tool reports the overlap rather than giving advice.
Is VWO or IEMG cheaper?
VWO has a 0.06% expense ratio and IEMG has 0.09%.
How do VWO and IEMG compare on valuation?
VWO has a weighted P/E of 18.0 and IEMG has a weighted P/E of 4.5.
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