AAXJ vs SPEM overlap - what they share and where they differ
AAXJ and SPEM share 25.8% of their weight across 104 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 SPEM
25.8%
104 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
SPEM
State Street(R) SPDR(R) Portfolio Emerging Markets ETF
Reported positions cover 98% of the fund, 1,565 positions · Jun 30, 2026
Top 10: 26.3%·Holdings of SPEM
Reported positions cover AAXJ 97%, SPEM 98% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
SPEM vs AAXJ side by side
AAXJiShares MSCI All Country Asia ex Japan ETF
784
stock positions reported to the SEC
66.5% of its weight is in 680 names SPEM does not hold
SPEMState Street(R) SPDR(R) Portfolio Emerging Markets ETF
1,565
stock positions reported to the SEC
70.5% of its weight is in 1,461 names AAXJ does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Technology: AAXJ has 7.3 points more of it.
The figures side by side
| AAXJ | SPEM | |
|---|---|---|
| Filing date | Apr 30, 2026 | Jun 30, 2026 |
| Stock positions reported | 784 | 1,565 |
| Weight of the ten largest | 40.5% | 26.3% |
| Largest position | TSM 16.3% | TSM 14.7% |
| Held alone | 680 positions, 66.5% | 1,461 positions, 70.5% |
| Covered by stock positions | 97% | 98% |
Holdings they share
| Stock | In AAXJ | In SPEM | Counted |
|---|---|---|---|
| TSMTaiwan Semiconductor Manufacturing Company Limited | 16.28% | 14.65% | 14.65% |
| BABAAlibaba Group Holding Limited | 2.70% | 1.79% | 1.79% |
| HDBHDFC BANK LIMITED | 0.88% | 0.83% | 0.83% |
| RSRELIANCE INDUSTRIES LIMITED | 0.88% | 0.81% | 0.81% |
| IBNICICI BANK LIMITED | 0.67% | 0.71% | 0.67% |
| ASXASE Technology Holding Co., Ltd. | 0.50% | 0.82% | 0.50% |
| NTESNETEASE, INC. | 0.39% | 0.42% | 0.39% |
| MEITUAN | 0.51% | 0.36% | 0.36% |
| INFYINFOSYS LIMITED | 0.39% | 0.33% | 0.33% |
| JDJD.COM, INC. | 0.35% | 0.29% | 0.29% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in AAXJ
Only in SPEM
Questions people ask
Is AAXJ the same as SPEM?
25.8% of their weight sits in the same 104 holdings. AAXJ also reports SAMSUNG ELECTRONICS CO., LTD., SKHY, TENCENT HOLDINGS LIMITED, which the other does not. SPEM also reports TENCENT HOLDINGS LTD, MEDIATEK INC, DELTA ELECTRONICS INC, which the other does not.
How is the overlap between AAXJ and SPEM 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 98% of SPEM, so the number cannot exceed the smaller coverage.
Which holds more, SPEM or AAXJ?
AAXJ reports 784 stock positions and SPEM reports 1,565. 66.5% of AAXJ's weight sits in names SPEM does not hold, and 70.5% of SPEM's weight in names AAXJ does not hold. The ten largest positions are 40.5% of AAXJ and 26.3% of SPEM.
How do AAXJ and SPEM differ by sector?
The widest gap is Technology: AAXJ has 7.3 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.