HEEM holdings and overlap

Name: HEEM holdings, overlap with other US ETFs, cost and risk
Creator: TickerInside
License: https://creativecommons.org/licenses/by/4.0/

iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) holds 1,183 positions in its iShares file of 2026-10-27. Its three largest are Taiwan Semiconductor Manufacturing (2330.TW) at 15.95%, Samsung Electronics Ltd (005930.KR) at 6.87% and SK Hynix (000660.KR) at 4.90%, and its ten largest make up 37.2% of the fund.

In its iShares file of 2026-10-27, HEEM is 34.1% technology, 7.2% financials and 5.1% consumer discretionary by sector (no sector found for 39.6%), with none of it in mega-cap tech or in the ten largest US companies by market value. By country, 29.2% of HEEM is in Taiwan, 19.8% in China, 19.2% in South Korea and 11.5% in India.

Edited by VoidLab Data through 2026-10-28 Last revised 2026-10-27

View as Markdown What changed

Connect your agent Copies a setup prompt

HEEMiShares Currency Hedged MSCI Emerging Markets ETFEmerging Markets, iShares, 1183 positions

Last close, 2026-10-28

$40.03 +1.42%

52-week range 34 to 46

Largest position

2330.TW

15.95% of the ETF, Taiwan Semiconductor Manufacturing

Positions

1183

37.2% in the ten largest

Cost per year

0.72%

$72 a year on $10,000

Assets

$0.3B

under management

Return, 3 years

+84.3%

cumulative, total return

Worst fall

-14.6%

peak to trough, 3 years, weekly closes

What does HEEM hold, as of its issuer file of 2026-10-27?

Taiwan Semiconductor Manufacturing is 15.95% of HEEM on its own, against a median largest position of 7.4% across the 26 Emerging Markets funds with a page here. The position HEEM carries furthest above that group is Samsung Electronics Ltd at 6.87% of the fund, a company the median fund in that group does not hold at all.

The 100 largest of the 1,183 positions in HEEM's file; all 1,183 are in the fund's JSON file.
Rank	Company	Weight
1	2330.TW Taiwan Semiconductor Manufacturing	15.95%
2	005930.KR Samsung Electronics Ltd	6.87%
3	000660.KR SK Hynix	4.9%
4	700.HK Tencent Holdings	2.64%
5	9988.HK Alibaba Group Holding	1.82%
6	2454.TW Mediatek	1.54%
7	939.HK China Construction Bank Corp	0.94%
8	005935.KR Samsung Electronics Non Voting Pre	0.91%
9	2317.TW Hon Hai Precision Industry	0.82%
10	2308.TW Delta Electronics	0.79%
11	HDFCBANK.IN HDFC Bank	0.71%
12	ICICIBANK.IN ICICI Bank	0.68%
13	RELIANCE.IN Reliance Industries Ltd	0.63%
14	3711.TW Ase Technology Holding	0.59%
15	1398.HK Industrial and Commercial Bank of	0.55%
16	BHARTIARTL.IN Bharti Airtel Ltd	0.51%
17	402340.KR SK Square	0.51%
18	1810.HK Xiaomi	0.49%
19	3988.HK Bank of China Ltd	0.45%
20	009150.KR Samsung Electro Mechanics Ltd	0.45%
21	1120.SA Al Rajhi Bank	0.42%
22	3690.HK Meituan	0.4%
23	PETR4.BR Petroleo Brasileiro Pref SA	0.4%
24	NU Nu Holdings Ltd. Class A	0.39%
25	3037.TW Unimicron Technology	0.39%
26	1303.TW Nan Ya Plastics Corp	0.38%
27	ANG.ZA Anglogold Ashanti PLC	0.38%
28	VALE3.BR Cia Vale do Rio Doce SH	0.37%
29	2303.TW United Micro Electronics Corp	0.37%
30	2881.TW Fubon Financial Holding	0.37%
31	2222.SA Saudi Arabian Oil	0.37%
32	2383.TW Elite Material	0.37%
33	ITUB4.BR Itau Unibanco Holding Pref SA	0.37%
34	PETR3.BR Petroleo Brasileiro SA Petrobras	0.36%
35	PDD PDD Holdings Ads	0.35%
36	9999.HK Netease	0.35%
37	2891.TW CTBC Financial Holding	0.34%
38	2318.HK Ping An Insurance (Group) Co of CH	0.34%
39	105560.KR KB Financial Group	0.33%
40	INFY.IN Infosys	0.33%
41	GMEXICOB.MX Grupo Mexico B	0.32%
42	2882.TW Cathay Financial Holding	0.29%
43	1211.HK BYD H	0.29%
44	GFI.ZA Gold Fields	0.28%
45	3017.TW Asia Vital Components	0.27%
46	NPN.ZA Naspers Limited	0.27%
47	2887.TW TS Financial Holding	0.26%
48	005380.KR Hyundai Motor	0.26%
49	2382.TW Quanta Computer	0.25%
50	9618.HK JD.COM	0.25%
51	AXISBANK.IN Axis Bank	0.25%
52	1180.SA The Saudi National Bank	0.25%
53	KFH.KW Kuwait Finance House	0.25%
54	FSR.ZA Firstrand Ltd	0.25%
55	OTP.HU Otp Bank	0.24%
56	2345.TW Accton Technology	0.24%
57	GFNORTEO.MX Gpo Finance Banorte	0.24%
58	857.HK Petrochina H	0.24%
59	055550.KR Shinhan Financial Group	0.24%
60	M&M.IN Mahindra and Mahindra Ltd	0.23%
61	LT.IN Larsen and Toubro Ltd	0.23%
62	PKO.PL Powszechna Kasa Oszczednosci Bank	0.22%
63	KOTAKBANK.IN Kotak Mahindra Bank Ltd	0.22%
64	3968.HK China Merchants Bank H	0.22%
65	2327.TW Yageo	0.22%
66	BAP Credicorp	0.22%
67	2885.TW Yuanta Financial Holding	0.21%
68	CPI.ZA Capitec	0.21%
69	SBK.ZA Standard Bank Group	0.21%
70	NBK.KW National Bank of Kuwait	0.21%
71	BAJFINANCE.IN Bajaj Finance Ltd	0.21%
72	9961.HK TRIP.COM Group	0.2%
73	006400.KR Samsung Sdi Ltd	0.2%
74	FAB.AE First Abu Dhabi Bank	0.2%
75	1288.HK Agricultural Bank of China H	0.2%
76	086790.KR Hana Financial Group	0.2%
77	2884.TW E.SUN Financial Holding	0.2%
78	PKN.PL Orlen	0.2%
79	2628.HK China Life Insurance Ltd	0.2%
80	6160.HK Beone Medicines AG	0.19%
81	7010.SA Saudi Telecom	0.19%
82	2360.TW Chroma Ate	0.19%
83	DELTA.R.TH Delta Electronics (Thailand) Non-V	0.19%
84	068270.KR Celltrion	0.19%
85	TCS.IN Tata Consultancy Services Ltd	0.19%
86	992.HK Lenovo Group	0.19%
87	2899.HK Zijin Mining Group Ltd	0.18%
88	FEMSAUBD.MX Fomento Economico Mexicano	0.18%
89	MTN.ZA MTN Group	0.18%
90	ETISALAT.AE Emirates Telecommunications Group	0.18%
91	2269.HK Wuxi Biologics Cayman	0.18%
92	3443.TW Global Unichip	0.18%
93	9888.HK Baidu	0.18%
94	034020.KR Doosan Enerbility Ltd	0.17%
95	2357.TW Asustek Computer Inc	0.17%
96	QNBK.QA Qatar National Bank	0.17%
97	2886.TW Mega Financial Holding Ltd	0.17%
98	012450.KR Hanwha Aerospace Ltd	0.17%
99	EMAAR.AE Emaar Properties	0.17%
100	3231.TW Wistron	0.17%

The most recent file iShares has published for HEEM is dated 2026-10-27, 1 day before these prices, which is the median for the iShares ETFs covered here. Every one of the 1183 positions HEEM holds, with its weight, is in the fund's JSON file. See the other 41 ETFs with a page here that hold 2330.TW, and how their weights compare with the 15.95% HEEM gives it.

Category: Emerging Markets, set by TickerInside from the ETF's own latest file. In its file of 2026-10-27, 100% of its stocks outside the US are in emerging markets. How categories are set.

Use this data

JSONhttps://tickerinside.com/api/v1/fund/heem.json

CSVhttps://tickerinside.com/api/v1/fund/heem.csv

Sheets=IMPORTDATA("https://tickerinside.com/api/v1/fund/heem.csv")If your sheet uses a decimal comma: =IMPORTDATA("https://tickerinside.com/api/v1/fund/heem.csv"; ","; "en_US")

curlcurl -s https://tickerinside.com/api/v1/fund/heem.json

API reference · spreadsheet guide Add TickerInside to Claude to ask about HEEM with this data

How is HEEM split by sector and country?

Sector	Weight	Weight bar
Technology	34.1%
Financials	7.2%
Consumer discretionary	5.1%
Materials	4.5%
Communication services	3.8%
Industrials	1.5%
Health care	1.3%
Real estate	0.9%
Energy	0.8%
Consumer staples	0.6%
Utilities	0.3%
No sector found	39.6%

Country	Weight	Weight bar
Taiwan	29.2%
China	19.8%
South Korea	19.2%
India	11.5%
Brazil	4.1%
South Africa	3.1%
Saudi Arabia	2.4%
Mexico	1.8%
United Arab Emirates	1.3%
Poland	1.2%
Other countries	6.2%

From its iShares file of 2026-10-27. How these are measured.

What did HEEM hold in its SEC reports since 2019?

HEEM's largest position in its SEC filings has been EEM since 2019-11-30: 99.22% then and 99.93% in its report for 2025-08-31, across 24 quarterly reports.

Largest in 2019

EEM

99.22% on 2019-11-30

Largest in 2025

EEM

99.93% on 2025-08-31

Ten largest

99.9%

99.2% in 2019

Quarterly reports

since 2019, SEC Form N-PORT

2019The ten largest positions, report by report2025

Report	Positions	Largest	Top 10
2019-11-30	1	EEM 99.22%	99.2%
2020-11-30	1	EEM 101.33%	101.3%
2021-11-30	1	EEM 99.36%	99.4%
2022-11-30	1	EEM 103.01%	103.0%
2023-11-30	1	EEM 101.58%	101.6%
2024-11-30	1	EEM 98.95%	99.0%
2025-08-31	1	EEM 99.93%	99.9%

The first report, then the last of each year, of the 24 reports HEEM filed on SEC Form N-PORT from 2019-11-30 to 2025-08-31, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/heem/{date}.json. How these are read.

What does HEEM duplicate?

The ETF nearest to HEEM is EEM: the two hold 99.6% of their weight in common, in the 1183 companies both own, and 100.0% of HEEM itself is also held there. Owning HEEM alongside the ETFs at the top of this table means holding mostly the same companies twice. HEEM is close to contained in EEM.

ETF	Overlap by weight	Of HEEM held there	Of that ETF in HEEM	Companies in both
EEM	99.6%	100.0%	100.0%	1183
IEMG	87.6%	100.0%	87.9%	1182
EEMX	85.3%	86.0%	90.4%	911
AAXJ	81.9%	82.3%	92.5%	905
EMXC	79.9%	80.2%	100.0%	607
EEMA	78.4%	81.7%	100.0%	896
SCHE	74.2%	74.9%	87.9%	981
VWO	71.3%	74.8%	80.0%	1009
XSOE	67.7%	73.0%	88.0%	525
EMGF	67.6%	83.5%	88.7%	483
ESGE	67.3%	70.7%	99.9%	294
SPEM	59.1%	64.4%	68.1%	730

SCHE's holdings are from its SEC Form N-PORT for the period ended 2026-08-31, filed 2026-10-27. VWO's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. XSOE's holdings are from its SEC Form N-PORT for the period ended 2026-06-30, filed 2026-08-31. The other ETFs' holdings are from their issuers' latest files. Check HEEM against any ETF in the ETF overlap calculator · how overlap is measured.

What adds something different to HEEM?

USMV shares 0% of weight with HEEM and its weekly returns correlate with it at 0.34 over three years. The table lists the covered ETFs with the least in common with HEEM, least shared weight first and, among equals, lowest correlation.

ETF	Name	Overlap by weight	Correlation, 3y
USMV	iShares MSCI USA Min Vol Factor ETF	0.0%	0.34
IJR	iShares Core S&P Small-Cap ETF	0.0%	0.50
PFF	iShares Preferred and Income Securities ETF	0.0%	0.55
IJH	iShares Core S&P Mid-Cap ETF	0.0%	0.57
QUAL	iShares MSCI USA Quality Factor ETF	0.0%	0.62
THRO	iShares U.S. Thematic Rotation Active ETF	0.0%	0.65
VLUE	iShares MSCI USA Value Factor ETF	0.0%	0.70
SCZ	iShares MSCI EAFE Small-Cap ETF	0.0%	0.71

Cost, returns and risk

Expense ratio	0.72%
Dividend yield	1.73%
Total return, 1 year	18.7%
Total return, 3 years cumulative	84.3%
Total return, 5 years cumulative	56.3%
Volatility, annualised	16.2%
Worst fall, 3 years	-14.6%
Beta against SPY, 3 years of weekly returns	0.78
Weight in the ten largest positions	37.2%
Largest single position	15.9%
Assets under management	$0.3B

Expense ratio, yield and assets are reference data (the expense ratio from HEEM's SEC filing of 2025-12-19); the weight in the ten largest positions and the largest single position are from the issuer file of 2026-10-27; every other figure is computed here from weekly closes.

How it moves with the market

Against	Correlation, 3 years	Covariance, annualised, in percent squared
SPY	0.67loosely linked	151
QQQ	0.71often in step	224

Weekly total returns. What the bands mean · why the covariance is printed.

Year by year

Year	Total return
2026	15.8%
2025	34.0%
2024	12.6%
2023	10.1%
2022	-16.8%

One year

HEEM 120 SPY 116

2025-11-072026-10-30

HEEM rebased to 100 a year ago, weekly closes, prices through 2026-10-28.

Where to go next

IEMG, iShares Core MSCI Emerging Markets ETF
LDEM, iShares ESG MSCI EM Leaders ETF
PIE, Invesco Dorsey Wright Emerging Markets Momentum ETF
PXH, Invesco RAFI Emerging Markets ETF
Run a portfolio x-ray to see what HEEM carries once you look through it
Compare HEEM against any other ETF in the builder

Holdings from the most recent file iShares has published, dated 2026-10-27. Prices through 2026-10-28. How every figure here is produced. Measurements, not investment advice.

Cite this page

TickerInside, iShares Currency Hedged MSCI Emerging Markets ETF (HEEM), holdings from the issuer's file of 2026-10-27, https://tickerinside.com/etf/heem/, CC BY 4.0

<a href="https://tickerinside.com/etf/heem/">TickerInside</a> (https://tickerinside.com/etf/heem/)