VWO vs IEMG overlap
VWO and IEMG overlap 71.9% by weight, across 2,141 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (VWO: July 31, 2026, IEMG: May 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | VWO | IEMG | Overlap |
|---|---|---|---|
| TSMC2330 | 15.56% | 12.49% | 12.49% |
| Tencent700 | 3.31% | 2.37% | 2.37% |
| BABA-W9988 | 2.41% | 1.82% | 1.82% |
| Mediatek2454 | 1.36% | 1.42% | 1.36% |
| Delta ELEC2308 | 0.82% | 1.02% | 0.82% |
| HON HAI2317 | 0.81% | 0.79% | 0.79% |
| CCB-H939 | 0.90% | 0.71% | 0.71% |
| HDFC Bank Ltd.HDFCB | 0.78% | 0.61% | 0.61% |
| Reliance IndustrRELIANC | 0.80% | 0.58% | 0.58% |
| Icici Bank Ltd.ICICIBC | 0.69% | 0.48% | 0.48% |
| ASE Technology H3711 | 0.49% | 0.44% | 0.44% |
| Xiaomi Corp.-W1810 | 0.55% | 0.42% | 0.42% |
| PDD Holdings Inc.PDD | 0.59% | 0.41% | 0.41% |
| VALE SAVALE3 | 0.46% | 0.41% | 0.41% |
| ICBC-H1398 | 0.66% | 0.38% | 0.38% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: VWO, SEC Form N-PORT, July 31, 2026; IEMG, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | VWO | IEMG |
|---|---|---|
| Bank of America Corp. | $9.2B | $18.4B |
| Morgan Stanley | $3.3B | $10.6B |
| Wells Fargo & Company | $2.4B | $7.5B |
| Envestnet Asset Management Inc. | $2.4B | $5.7B |
| Creative Planning | $1.1B | $6.5B |
| Northwestern Mutual Wealth Management Co | $4.6B | $1.7B |
| Wealthfront Advisers LLC | $2.8B | $3.4B |
| LPL Financial LLC | $1.0B | $4.0B |
| JPMorgan Chase & Co | $898.3M | $3.8B |
| UBS Group AG | $1.3B | $3.1B |
| BlackRock, Inc. | $272.2M | $3.7B |
| WIT, LLC | $2.3B | $1.4B |
| Betterment LLC | $3.2B | $447.3M |
| Northern Trust Corp. | $2.9B | $347.0M |
| Goldman Sachs Group Inc. | $865.1M | $2.2B |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: VWO institutional holders, IEMG institutional holders.
Frequently asked questions
How much do VWO and IEMG overlap?
71.9% by weight, with 2,141 holdings in common, using holdings for VWO as of July 31, 2026 and IEMG as of May 31, 2026. The largest shared position is 2330.
Do institutions hold both VWO and IEMG?
1,671 Form 13F filers report positions in both, out of 3,347 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.