SPYX's largest holdings are NANYA TECHNOLOGY CORPORATION, Winbond Electronics Corporation, Phison Electronics Corp., TAIWAN UNION TECHNOLOGY CORPORATION, Kinsus Interconnect Technology Corp. The full top list is on this page.

How concentrated is SPYX?

The top 10 holdings are 6.5% of the fund, across 1,916 positions.

The total expense ratio on record is 0.55%. That is cheaper than 12% of the 2,693 European UCITS equity funds we track.

Which sectors dominate SPYX?

By weight of its equity holdings: Technology 25.2%, Industrials 15.6%, Financial Services 9.5%.

What is SPYX's P/E ratio?

Computed from company annual reports and filed position values, SPYX's weighted price-to-earnings ratio is 19.5, covering 51% of the fund by weight. The weighted price-to-book ratio is 1.41.

UCITS · Ireland · Accumulating

SPYX

Equities of small companies in emerging markets

SS SPDR MSCI Emerging Markets Small Cap UCITS ETF

IE00B48X4842 · EMSD · EMSM · EMSC · State Street (SPDR)

1,916 holdings as of 2026-08-27 · top 10 = 6.5% · TER 0.55% · P/E 19.5

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Concentration

Well diversifiedtop 10 = 6.5%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

1,916

as of 2026-08-27

Top 10

6.5%

TER

0.55%

cheaper than 12% of peers

Net assets

US$647M

reported in USD

Largest

1.2%

P / E

19.5

covers 51% by weight

Sections

Holdings as of 2026-08-27.

01Overview

the fund's regulatory facts

Distribution

Accumulating

Fund currency

USD

Domicile

Ireland

Structure

Open-ended

First listed

2011-05-16

Volatility 1Y

21.0%

Tracked index

MSCI Emerging Markets Small Cap Index

How it tracks

Physical, optimised

Risk rating

5 of 7

Lends its stock

Yes

02Valuation and performance

market price return · as of 2026-09-01

+11.0%

-2.0%

+12.1%

YTD

+14.7%

+19.7%

Trackingfund minus MSCI Emerging Markets Small Cap Index · annualised

1Y return gap

-0.45 pp/yr

3Y return gap

-0.77 pp/yr

5Y return gap

-0.40 pp/yr

A positive return gap means the fund finished ahead of the index over that window. These are the manager's own published figures, as of 30 Jun 2026. MethodologyReturn gap and tracking errorReturn gap is the fund's return minus its index over the same months, converted to a yearly rate. Tracking error is the annualised standard deviation of those monthly fund-minus-index returns. Both lines come from the manager's own chart, in the same currency and the exact index variant the fund tracks. We use month-end values so different intraday valuation times are not mistaken for tracking error.. Not investment advice.

Valuation945 companies covered · weighted, profitable holdings only

19.5

price / earnings

4.1%

covers 56% by weight

1.41

price / book

covers 56% by weight

Computed from company filings and reported position values. MethodologyPortfolio valuationComputed by us from each company's own financial statements and the position values funds report, currency-adjusted and weighted harmonically. P/E covers profitable holdings only. Book value uses the most recent reported quarter.. Not investment advice.

03Holdings

50 largest · as of 2026-08-27

#	Company	Identifier	Weight
1	NANYA TECHNOLOGY CORPORATION TW	2408	1.2
2	Winbond Electronics Corporation TW	2344	1.1
3	Phison Electronics Corp. TW	8299	0.7
4	TAIWAN UNION TECHNOLOGY CORPORATION TW	6274	0.6
5	Kinsus Interconnect Technology Corp TW	3189	0.5
6	NAN YA PRINTED CIRCUIT BOARD CORPORATION TW	8046	0.5
7	LandMark Optoelectronics Corp TW	3081	0.5
8	COMPEQ MANUFACTURING CO., LTD. TW	2313	0.5
9	MACRONIX INTERNATIONAL CO., LTD. TW	2337	0.4
10	LAURUS LABS LIMITED IN	LAURUSLABS	0.4
11	Tripod Technology Corporation TW	3044	0.4
12	Powerchip Semiconductor Manufacturing Corporation TW	6770	0.4
13	COFORGE LIMITED IN	COFORGE	0.4
14	United Integrated Services Co Ltd TW	2404	0.4
15	LG INNOTEK CO.,LTD KR	011070	0.4
16	POWERTECH TECHNOLOGY INC. TW	6239	0.3
17	SAMSUNG E&A CO.,LTD KR	028050	0.3
18	SILERGY CORP. KY	6415	0.3
19	WIN SEMICONDUCTORS CORP. TW	3105	0.3
20	WPG HOLDINGS LIMITED TW	3702	0.3
21	AUO Corporation TW	2409	0.3
22	Compal Electronics, Inc. TW	2324	0.3
23	ISU Petasys Co., Ltd. KR	007660	0.3
24	WinWay Technology Co., Ltd. TW	6515	0.3
25	MAX FINANCIAL SERVICES LIMITED IN	MFSL	0.3
26	WT MICROELECTRONICS CO., LTD. TW	3036	0.3
27	BENEFIT SYSTEMS SPOLKA AKCYJNA PL	BFT	0.2
28	ITEQ CORPORATION TW	6213	0.2
29	L & K ENGINEERING CO., LTD. TW	6139	0.2
30	KINGBOARD HOLDINGS LIMITED KY	148	0.2
31	MOTOR OIL (HELLAS) CORINTH REFINERIES S.A. GR	MOH	0.2
32	GS Holdings Corp. KR	078930	0.2
33	GLENMARK PHARMACEUTICALS LIMITED IN	GLENMARK	0.2
34	EMBASSY OFFICE PARKS REIT IN	EMBASSY	0.2
35	SAMSUNG SECURITIES CO.,LTD KR	016360	0.2
36	SONA BLW PRECISION FORGINGS LIMITED IN	SONACOMS	0.2
37	Fideicomiso Irrevocable No. F/2157 MX	FMTY14	0.2
38	RADICO KHAITAN LIMITED IN	RADICO	0.2
39	LS Corp. KR	006260	0.2
40	WALSIN LIHWA CORPORATION TW	1605	0.2
41	XTB SA PL	XTB	0.2
42	AP Memory Technology Corp TW	6531	0.2
43	ASPEN PHARMACARE HOLDINGS LIMITED ZA	APN	0.2
44	CHIPBOND TECHNOLOGY CORPORATION TW	6147	0.2
45	JUSUNG ENGINEERING Co.,Ltd. KR	036930	0.2
46	ALL RING TECH CO., LTD. TW	6187	0.2
47	HIWIN TECHNOLOGIES CORP. TW	2049	0.2
48	APAR INDUSTRIES LIMITED IN	APARINDS	0.2
49	ADATA Technology Co., Ltd. TW	3260	0.2
50	KEI INDUSTRIES LIMITED IN	KEI	0.2

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04Exposure

Equity 100.0%

By sector

Technology25.2%

Industrials15.6%

Financial Services9.5%

Materials9.2%

Consumer Cyclical9.0%

Healthcare8.5%

Real Estate4.8%

Consumer Defensive4.6%

Communication Services2.4%

Utilities1.9%

Energy1.6%

By country

TWTaiwan26.8%

INIndia21.2%

KRSouth Korea14.7%

KYCayman Islands5.7%

ZASouth Africa3.5%

SASA3.1%

BRBrazil2.9%

MYMY2.8%

CurrencyTWD 26.8% INR 21.2% KRW 14.7% USD 6.7% ZAR 3.5%

06Where it trades

9 exchanges

Exchange	MIC	Listed since
Xetra	XETA	2011-05-18
Börse Stuttgart	STUB	2011-05-20
Börse Frankfurt	FRAA	2011-05-23
London Stock Exchange	XLON	2011-07-26
Börse Düsseldorf	DUSD	2012-02-17
Tradegate	XGAT	2012-03-28
Börse München	MUND	2014-07-04
Börse Hamburg	HAMN	2016-08-01
Börse Hannover	HAND	2024-12-09

Also admitted to 29 other venues, mostly multilateral trading facilities and regional segments.

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