DFEM vs SPEM overlap - what they share and where they differ
DFEM and SPEM share 48.4% of their weight across 1,831 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.
DFEM and SPEM
48.4%
1,831 shared positions
DFEM
Dimensional Emerging Markets Core Equity 2 ETF
Reported positions cover 94% of the fund, 6,249 positions · Jul 31, 2026
Top 10: 24.4%·Holdings of DFEM
SPEM
State Street(R) SPDR(R) Portfolio Emerging Markets ETF
Reported positions cover 100% of the fund, 2,718 positions · Jun 30, 2026
Top 10: 26.7%·Holdings of SPEM
Reported positions cover DFEM 94%, SPEM 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
SPEM vs DFEM side by side
DFEMDimensional Emerging Markets Core Equity 2 ETF
6,249
stock positions reported to the SEC
36.5% of its weight is in 4,418 names SPEM does not hold
SPEMState Street(R) SPDR(R) Portfolio Emerging Markets ETF
2,718
stock positions reported to the SEC
16.3% of its weight is in 887 names DFEM does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Technology: SPEM has 3.8 points more of it.
The figures side by side
| DFEM | SPEM | |
|---|---|---|
| Filing date | Jul 31, 2026 | Jun 30, 2026 |
| Stock positions reported | 6,249 | 2,718 |
| Weight of the ten largest | 24.4% | 26.7% |
| Largest position | TSM 10.3% | TSM 14.7% |
| Held alone | 4,418 positions, 36.5% | 887 positions, 16.3% |
| Covered by stock positions | 94% | 100% |
Holdings they share
| Stock | In DFEM | In SPEM | Counted |
|---|---|---|---|
| TSMTaiwan Semiconductor Company Limited | 10.27% | 14.65% | 10.27% |
| TENCENT HOLDINGS LIMITED | 1.95% | 2.74% | 1.95% |
| BABAAlibaba Group Holding Limited | 0.82% | 1.79% | 0.82% |
| CHINA CONSTRUCTION BANK CORPORATION | 0.75% | 0.81% | 0.75% |
| SUGPSuzhou HYC Technology Co., Ltd. | 0.57% | 1.14% | 0.57% |
| HON HAI PRECISION INDUSTRY CO., LTD. | 0.46% | 0.93% | 0.46% |
| PBRPetroleo Brasileiro S.A. (Petrobras) | 0.43% | 0.47% | 0.43% |
| MEDIATEK INC. | 0.41% | 1.82% | 0.41% |
| PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. | 0.48% | 0.39% | 0.39% |
| UNIMICRON TECHNOLOGY CORP. | 0.39% | 0.50% | 0.39% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in DFEM
Only in SPEM
Questions people ask
Is DFEM the same as SPEM?
48.4% of their weight sits in the same 1,831 holdings. DFEM also reports SAMSUNG ELECTRONICS CO., LTD., SKHY, SAMSUNG ELECTRO-MECHANICS CO.,LTD, which the other does not. SPEM also reports PDD, AL RAJHI BANK, DELTA ELECTRONICS THAILAND PCL, which the other does not.
How is the overlap between DFEM 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 94% of DFEM and 100% of SPEM, so the number cannot exceed the smaller coverage.
Which holds more, SPEM or DFEM?
DFEM reports 6,249 stock positions and SPEM reports 2,718. 36.5% of DFEM's weight sits in names SPEM does not hold, and 16.3% of SPEM's weight in names DFEM does not hold. The ten largest positions are 24.4% of DFEM and 26.7% of SPEM.
How do DFEM and SPEM differ by sector?
The widest gap is Technology: SPEM has 3.8 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.