VFEM's largest holdings are Taiwan Semiconductor Manufacturing Co., Ltd., Tencent Holdings Limited, Alibaba Group Holding Limited, MediaTek Inc., DELTA ELECTRONICS, INC.. The full top list is on this page.

How concentrated is VFEM?

The top 10 holdings are 29.8% of the fund, across 2397 positions.

The total expense ratio on record is 0.17%. That is cheaper than 76% of the 2616 European UCITS equity funds we track.

Which sectors dominate VFEM?

By weight of its equity holdings: Technology 33.8%, Financial Services 20.5%, Consumer Cyclical 8.7%.

What is VFEM's P/E ratio?

Computed from company annual reports and filed position values, VFEM's weighted price-to-earnings ratio is 19.0, covering 73.0% of the fund by weight. The weighted price-to-book ratio is 1.11.

UCITS · Ireland · Distributing

VFEM

Emerging market equities

Vanguard FTSE Emerging Markets UCITS ETF Distributing

IE00B3VVMM84 · VDEM · VNGUF · VG71 · Vanguard

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Concentration

Moderately concentratedtop 10 = 29.8%

diversifiedconcentrated

GROWTH · NAV (GBP)rebased to 0%

Holdings

2397

as of 2026-06-30

Top 10

29.8%

TER

0.17%

cheaper than 76% of peers

Net assets

US$5.71B

reported in USD

Largest

17.3%

P / E

19.0

covers 73.0% by weight

Sections

Holdings as of 2026-06-30.

01Overview

the fund's regulatory facts

Distribution

Distributing

Fund currency

USD

Domicile

Ireland

Structure

Open-ended

First listed

2012-05-22

Volatility 1Y

21.2%

Tracked index

FTSE Emerging Index USD Net of Tax

How it tracks

Physical, sampling

Risk rating

4 of 7

Lends its stock

Yes

02Valuation and performance

market price return · as of 2026-08-24

-13.9%

-14.9%

-11.4%

YTD

-5.0%

-0.8%

Trackingfund minus FTSE Emerging Index USD Net of Tax · annualised

1Y return gap

-0.04 pp/yr

3Y return gap

-0.34 pp/yr

5Y return gap

-0.33 pp/yr

3Y tracking error

0.59%

A positive return gap means the fund finished ahead of the index over that window. The 3Y tracking error shows how variable that monthly gap was; lower means steadier tracking. 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.

Valuation1347 companies covered · weighted, profitable holdings only

19.0

price / earnings

5.0%

covers 75% by weight

1.11

price / book

covers 52.0% 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 2026-06-30

#	Company	Identifier	Weight
1	Taiwan Semiconductor Manufacturing Co., Ltd. TW	2330	17.3
2	Tencent Holdings Limited KY	700	3.2
3	Alibaba Group Holding Limited KY	9988	2.0
4	MediaTek Inc. TW	2454	1.8
5	DELTA ELECTRONICS, INC. TW	2308	1.1
6	HON HAI PRECISION INDUSTRY CO., LTD. TW	2317	0.9
7	HDFC BANK LIMITED IN	HDFCB	0.9
8	CHINA CONSTRUCTION BANK CORPORATION CN	939	0.9
9	RELIANCE INDUSTRIES LIMITED IN	RELIANCE	0.9
10	ICICI BANK LIMITED IN	ICICIBC	0.7
11	US Dollar US	USD	0.7
12	INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED CN	1398	0.7
13	ASE Technology Holding Co., Ltd. TW	3711	0.7
14	UNITED MICROELECTRONICS CORP. TW	2303	0.6
15	BHARTI AIRTEL LIMITED IN	BHARTI	0.6
16	INR/USD FWD 20260916	INR	0.6
17	PDD Holdings Inc. KY	PDD	0.6
18	YAGEO CORPORATION TW	2327	0.5
19	VALE S.A. BR	VALE3	0.5
20	AL RAJHI BANKING AND INVESTMENT CORPORATION SJSC SA	RJHI	0.5
21	Itau Unibanco Holding S.A. BR	ITUB4	0.5
22	ELITE MATERIAL CO., LTD. TW	2383	0.5
23	MEITUAN KY	3690	0.5
24	XIAOMI CORPORATION KY	1810 HK	0.4
25	Ping An Insurance (Group) Company of China, Ltd. CN	2318	0.4
26	NETEASE, INC. KY	9999 HK	0.4
27	BANK OF CHINA LIMITED CN	3988	0.4
28	UNIMICRON TECHNOLOGY CORP. TW	3037	0.4
29	Saudi Arabian Oil Company SA	2222	0.4
30	Anglogold Ashanti Plc GB	AU	0.4
31	CTBC Financial Holding Co., Ltd. TW	2891	0.4
32	Accton Technology Corp. TW	2345	0.4
33	Naspers Ltd ZA	NPN SJ	0.4
34	BYD COMPANY LIMITED CN	1211	0.4
35	Contemporary Amperex Technology Co., Ltd. CN	3750	0.3
36	INFOSYS LIMITED IN	INFO	0.3
37	Fubon Financial Holding Co., Ltd. TW	2881	0.3
38	OTP Bank Nyrt. HU	OTP	0.3
39	Axis Bank Ltd IN	AXSB IN	0.3
40	Grupo Mexico SAB de CV MX	GMEXICOB MF	0.3
41	FIRSTRAND LIMITED ZA	FSR	0.3
42	JD.COM, INC. KY	9618 HK	0.3
43	Grupo Financiero Banorte, S.A.B. de C.V. MX	GFNORTEO	0.3
44	QUANTA COMPUTER INC. TW	2382	0.3
45	KUWAIT FINANCE HOUSE K.S.C.P KW	KFH	0.3
46	Gold Fields Limited ZA	GFI SJ	0.3
47	MAHINDRA AND MAHINDRA LIMITED IN	M&M	0.3
48	BAIDU, INC. KY	9888 HK	0.3
49	The Saudi National Bank SJSC SA	SNB	0.3
50	Petroleo Brasileiro SA US	PBR	0.3

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04Exposure

Equity 97.4%Other 2.3%

By sector

Technology33.8%

Financial Services20.5%

Consumer Cyclical8.7%

Materials7.0%

Communication Services6.7%

Industrials6.4%

Energy3.7%

Consumer Defensive3.5%

Healthcare3.0%

Utilities2.8%

Real Estate1.5%

By country

TWTaiwan33.1%

INIndia15.8%

CNChina13.3%

KYCayman Islands11.6%

BRBrazil3.3%

SASA3.2%

ZASouth Africa3.2%

MXMexico2.2%

CurrencyTWD 33.1% INR 15.8% USD 13.6% CNY 13.3% BRL 3.3%

Issuer's scenario analysisaverage return per year over 5 years

Stress

-17.6%

Unfavourable

-2.1%

Moderate

+4.5%

Favourable

+14.5%

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Ranked by how much of their holdings you already own through this fund. Overlap by weight where shown.

06Where it trades

13 exchanges

Exchange	MIC	Listed since
London Stock Exchange	XLON	2012-05-23
Euronext Amsterdam	XAMS	2013-06-04
Euronext Paris	XPAR	2013-06-04
Börse München	MUNB	2015-01-21
Börse Hamburg	HAMN	2016-10-19
Börse Düsseldorf	DUSB	2017-09-07
Börse Frankfurt	FRAA	2017-10-26
Xetra	XETA	2017-10-26
Tradegate	XGAT	2017-10-31
Börse Stuttgart	STUB	2017-11-09
Borsa Italiana	ETFP	2019-01-18
Börse Hannover	HAND	2024-12-09
SIX Swiss Exchange	XSWX	–

Also admitted to 44 other venues, mostly multilateral trading facilities and regional segments.

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