DFEM vs VWO overlap - what they share and where they differ
DFEM and VWO share 52.7% of their weight across 2,844 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 VWO
52.7%
2,844 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
VWO
VANGUARD EMERGING MARKETS STOCK INDEX FUND
Reported positions cover 98% of the fund, 4,548 positions · Jul 31, 2026
Top 10: 27.5%·Holdings of VWO
Reported positions cover DFEM 94%, VWO 98% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
VWO vs DFEM side by side
DFEMDimensional Emerging Markets Core Equity 2 ETF
6,249
stock positions reported to the SEC
30.8% of its weight is in 3,405 names VWO does not hold
VWOVANGUARD EMERGING MARKETS STOCK INDEX FUND
4,548
stock positions reported to the SEC
16.6% of its weight is in 1,704 names DFEM does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Technology: VWO has 4.5 points more of it.
The figures side by side
| DFEM | VWO | |
|---|---|---|
| Filing date | Jul 31, 2026 | Jul 31, 2026 |
| Stock positions reported | 6,249 | 4,548 |
| Weight of the ten largest | 24.4% | 27.5% |
| Largest position | TSM 10.3% | TSM 15.6% |
| Held alone | 3,405 positions, 30.8% | 1,704 positions, 16.6% |
| Covered by stock positions | 94% | 98% |
Holdings they share
| Stock | In DFEM | In VWO | Counted |
|---|---|---|---|
| TSMTaiwan Semiconductor Company Limited | 10.27% | 15.59% | 10.27% |
| TENCENT HOLDINGS LIMITED | 1.95% | 3.31% | 1.95% |
| BABAAlibaba Group Holding Limited | 0.82% | 2.41% | 0.82% |
| CHINA CONSTRUCTION BANK CORPORATION | 0.75% | 0.92% | 0.75% |
| SUGPSuzhou HYC Technology Co., Ltd. | 0.57% | 0.61% | 0.57% |
| PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. | 0.48% | 0.47% | 0.47% |
| HON HAI PRECISION INDUSTRY CO., LTD. | 0.46% | 0.81% | 0.46% |
| MEDIATEK INC. | 0.41% | 1.36% | 0.41% |
| BHARTI AIRTEL LIMITED | 0.37% | 0.55% | 0.37% |
| DELTA ELECTRONICS, INC. | 0.36% | 0.82% | 0.36% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in DFEM
Only in VWO
Questions people ask
Is DFEM the same as VWO?
52.7% of their weight sits in the same 2,844 holdings. DFEM also reports SAMSUNG ELECTRONICS CO., LTD., SKHY, PBR, which the other does not. VWO also reports PDD, AL RAJHI BANK, PETROLEO BRASILEIRO SA, which the other does not.
How is the overlap between DFEM and VWO 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 98% of VWO, so the number cannot exceed the smaller coverage.
Which holds more, VWO or DFEM?
DFEM reports 6,249 stock positions and VWO reports 4,548. 30.8% of DFEM's weight sits in names VWO does not hold, and 16.6% of VWO's weight in names DFEM does not hold. The ten largest positions are 24.4% of DFEM and 27.5% of VWO.
How do DFEM and VWO differ by sector?
The widest gap is Technology: VWO has 4.5 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.