AAXJ vs KWEB overlap - what they share and where they differ
AAXJ and KWEB share 8.8% of their weight across 18 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
AAXJ and KWEB
8.8%
18 shared positions
AAXJ
iShares MSCI All Country Asia ex Japan ETF
Reported positions cover 97% of the fund, 784 positions · Apr 30, 2026
Top 10: 40.5%·Holdings of AAXJ
KWEB
KraneShares CSI China Internet ETF
Reported positions cover 100% of the fund, 33 positions · Jun 30, 2026
Top 10: 60.0%·Holdings of KWEB
Reported positions cover AAXJ 97%, KWEB 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
KWEB vs AAXJ side by side
AAXJiShares MSCI All Country Asia ex Japan ETF
784
stock positions reported to the SEC
87.9% of its weight is in 766 names KWEB does not hold
KWEBKraneShares CSI China Internet ETF
33
stock positions reported to the SEC
31.8% of its weight is in 15 names AAXJ does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Technology: KWEB has 18.3 points more of it.
The figures side by side
| AAXJ | KWEB | |
|---|---|---|
| Filing date | Apr 30, 2026 | Jun 30, 2026 |
| Stock positions reported | 784 | 33 |
| Weight of the ten largest | 40.5% | 60.0% |
| Largest position | TSM 16.3% | TENCENT HOLDINGS LIMITED 10.4% |
| Held alone | 766 positions, 87.9% | 15 positions, 31.8% |
| Covered by stock positions | 97% | 100% |
Holdings they share
| Stock | In AAXJ | In KWEB | Counted |
|---|---|---|---|
| TENCENT HOLDINGS LIMITED | 3.70% | 10.44% | 3.70% |
| BABAAlibaba Group Holding Limited | 2.70% | 7.70% | 2.70% |
| MEITUAN | 0.51% | 6.83% | 0.51% |
| NTESNETEASE, INC. | 0.39% | 6.97% | 0.39% |
| JDJD.COM, INC. | 0.35% | 3.87% | 0.35% |
| BIDUBAIDU, INC. | 0.33% | 4.19% | 0.33% |
| TCOMTRIP.COM GROUP LIMITED | 0.32% | 3.69% | 0.32% |
| KUAISHOU TECHNOLOGY | 0.14% | 4.08% | 0.14% |
| KE HOLDINGS INC. | 0.11% | 3.89% | 0.11% |
| JD HEALTH INTERNATIONAL INC | 0.07% | 3.50% | 0.07% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in AAXJ
Only in KWEB
Questions people ask
Is AAXJ the same as KWEB?
8.8% of their weight sits in the same 18 holdings. AAXJ also reports TSM, SAMSUNG ELECTRONICS CO., LTD., SKHY, which the other does not. KWEB also reports PDD, YMM, TENCENT MUSIC ENTERTAINMENT GROUP, which the other does not.
How is the overlap between AAXJ and KWEB measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 97% of AAXJ and 100% of KWEB, so the number cannot exceed the smaller coverage.
Which holds more, KWEB or AAXJ?
AAXJ reports 784 stock positions and KWEB reports 33. 87.9% of AAXJ's weight sits in names KWEB does not hold, and 31.8% of KWEB's weight in names AAXJ does not hold. The ten largest positions are 40.5% of AAXJ and 60.0% of KWEB.
How do AAXJ and KWEB differ by sector?
The widest gap is Technology: KWEB has 18.3 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
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Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.