VWO holdings and overlap

Vanguard FTSE Emerging Markets ETF (VWO) holds 4,959 positions in its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. Its three largest are Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) at 15.56%, Tencent Holdings Ltd (700.HK) at 3.31% and Alibaba Group Holding Ltd (9988.HK) at 2.41%, and its ten largest make up 27.4% of the fund.

In its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28, VWO holds none of the mega-cap tech companies and none of the ten largest US companies by market value. By country, 30.6% of VWO is in Taiwan, 25.3% in China, 16.9% in India and 4.4% in Brazil.

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VWOVanguard FTSE Emerging Markets ETFEmerging Markets, Vanguard, 4959 positions
Last close, 2026-10-15
$58.79 -0.19%
52-week range 52 to 61
Largest position, N-PORT 2026-07-31
2330.TW
15.56% of the ETF, Taiwan Semiconductor Manufacturing Co Ltd
Positions, N-PORT 2026-07-31
4959
27.4% in the ten largest
Cost per year
0.06%
$6 a year on $10,000
Return, 3 years
+68.8%
cumulative, total return
Worst fall
-12.0%
peak to trough, 3 years, weekly closes

What does VWO hold, from its SEC Form N-PORT for the period ended 2026-07-31?

VWO spreads its weight across 4959 positions, against a median of 834 across the 26 Emerging Markets funds with a page here. No fund in that group costs less than VWO, at 0.06% a year.

The 100 largest of the 4,959 positions in VWO's filing; all 4,959 are in the fund's JSON file.
RankCompanyWeightWeight bar
1 2330.TW Taiwan Semiconductor Manufacturing Co Ltd 15.56%
2 700.HK Tencent Holdings Ltd 3.31%
3 9988.HK Alibaba Group Holding Ltd 2.41%
4 2454.TW MediaTek Inc 1.36%
5 939.HK China Construction Bank Corp 0.9%
6 2308.TW Delta Electronics Inc 0.82%
7 2317.TW Hon Hai Precision Industry Co Ltd 0.81%
8 RELIANCE.IN Reliance Industries Ltd 0.8%
9 HDFCBANK.IN HDFC Bank 0.78%
10 ICICIBANK.IN ICICI Bank 0.69%
11 1398.HK Industrial & Commercial Bank of China Ltd 0.66%
12 PDD PDD Holdings Inc 0.59%
13 3690.HK Meituan 0.56%
14 1810.HK Xiaomi Corp 0.55%
15 BHARTIARTL.IN Bharti Airtel Ltd 0.55%
16 3711.TW ASE Technology Holding Co Ltd 0.49%
17 VALE3.BR Vale SA 0.46%
18 1120.SA Al Rajhi Bank 0.43%
19 9999.HK NetEase Inc 0.42%
20 2318.HK Ping An Insurance Group Co of China Ltd 0.42%
21 3988.HK Bank of China Ltd 0.41%
22 ITUB3.BR Itau Unibanco Holding SA 0.39%
23 1211.HK BYD Co Ltd 0.38%
24 2222.SA Saudi Arabian Oil Co 0.36%
25 2383.TW Elite Material Co Ltd 0.36%
26 NPN.ZA Naspers Ltd 0.35%
27 9618.HK JD.com Inc 0.35%
28 INFY.IN Infosys 0.35%
29 AU AngloGold Ashanti 0.33%
30 PETR4.BR Petroleo Brasileiro SA - Petrobras 0.33%
31 2303.TW United Microelectronics Corp 0.31%
32 PETR3.BR Petroleo Brasileiro SA - Petrobras 0.31%
33 2891.TW CTBC Financial Holding Co Ltd 0.3%
34 GMEXICOB.MX Grupo Mexico SAB de CV 0.29%
35 OTP.HU OTP Bank Nyrt 0.29%
36 GFNORTEO.MX Grupo Financiero Banorte SAB de CV 0.29%
37 2881.TW Fubon Financial Holding Co Ltd 0.29%
38 M&M.IN Mahindra and Mahindra Ltd 0.29%
39 BAJFINANCE.IN Bajaj Finance Ltd 0.28%
40 2345.TW Accton Technology Corp 0.28%
41 FSR.ZA FirstRand Ltd 0.28%
42 KFH.KW Kuwait Finance House KSCP 0.27%
43 3037.TW Unimicron Technology Corp 0.27%
44 1180.SA The Saudi National Bank 0.26%
45 AXISBANK.IN Axis Bank 0.26%
46 9888.HK Baidu Inc 0.26%
47 2882.TW Cathay Financial Holding Co Ltd 0.26%
48 GFI.ZA Gold Fields Ltd 0.25%
49 9961.HK Trip.com Group Ltd 0.24%
50 LT.IN Larsen & Toubro Ltd 0.24%
51 2628.HK China Life Insurance Co Ltd 0.24%
52 857.HK PetroChina Co Ltd 0.23%
53 SBK.ZA Standard Bank Group Ltd 0.22%
54 2887.TW TS Financial Holding Co Ltd 0.22%
55 TCS.IN Tata Consultancy Services Ltd 0.22%
56 2899.HK Zijin Mining Group Co Ltd 0.22%
57 CPI.ZA Capitec Limited 0.22%
58 1288.HK Agricultural Bank of China Ltd 0.22%
59 3968.HK China Merchants Bank Co Ltd 0.21%
60 NBK.KW National Bank of Kuwait SAKP 0.21%
61 2327.TW Yageo Corp 0.2%
62 2382.TW Quanta Computer Inc 0.2%
63 1303.TW Nan Ya Plastics Corp 0.2%
64 DELTA.F.TH Delta Electronics Thailand PCL 0.2%
65 FAB.AE First Abu Dhabi Bank PJSC 0.2%
66 2360.TW Chroma ATE Inc 0.2%
67 2885.TW Yuanta Financial Holding Co Ltd 0.2%
68 3017.TW Asia Vital Components Co Ltd 0.19%
69 KOTAKBANK.IN Kotak Mahindra Bank Ltd 0.19%
70 SUNPHARMA.IN Sun Pharmaceutical Industries Ltd 0.19%
71 FEMSAUBD.MX Fomento Economico Mexicano SAB de CV 0.19%
72 7010.SA Saudi Telecom Co 0.19%
73 MTN.ZA MTN Group Ltd 0.19%
74 1211.SA Saudi Arabian Mining Co 0.18%
75 MAYBANK.MY Malayan Banking BHD 0.18%
76 6160.HK BeOne Medicines Ltd 0.17%
77 HINDUNILVR.IN Hindustan Unilever Ltd 0.17%
78 VAL.ZA Valterra Platinum Ltd 0.17%
79 QNBK.QA Qatar National Bank QPSC 0.17%
80 AMXB.MX America Movil SAB de CV 0.17%
81 2886.TW Mega Financial Holding Co Ltd 0.17%
82 EAND.AE Emirates Telecom Group Co 0.17%
83 TITAN.IN Titan Company Ltd 0.16%
84 MARUTI.IN Maruti Suzuki India Ltd 0.16%
85 PBK.MY Public Bank Bhd 0.16%
86 EMAAR.AE Emaar Properties PJSC 0.16%
87 1088.HK China Shenhua Energy Co Ltd 0.16%
88 2269.HK Wuxi Biologics Cayman Inc 0.16%
89 2884.TW E.Sun Financial Holding Co Ltd 0.16%
90 CEMEXCPO.MX Cemex SAB de CV 0.16%
91 1801.HK Innovent Biologics Inc 0.16%
92 300750.CN Contemporary Amperex Technology Co Ltd 0.15%
93 1024.HK Kuaishou Technology 0.15%
94 NTPC.IN NTPC Ltd 0.15%
95 BBCA.ID Bank Central Asia Tbk PT 0.15%
96 BBDC4.BR Banco Bradesco SA 0.15%
97 ICT.PH International Container Terminal Services Inc 0.15%
98 SBIN.IN State Bank of India 0.15%
99 TENAGA.MY Tenaga Nasional BHD 0.15%
100 6669.TW Wiwynn Corp 0.15%

VWO's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28, 77 days before these prices; a newer filing replaces it when the nightly read of EDGAR finds one. Every one of the 4959 positions VWO 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 15.56% VWO gives it.

Category: Emerging Markets, set by TickerInside from the ETF's own latest file. In its file of 2026-07-31, 98% of its stocks outside the US are in emerging markets. How categories are set.

Use this data
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How is VWO split by sector and country?

A sector is found for 47.9% of VWO's stock weight, under the 50% from which this page states sector weights; the weights found are in the fund's JSON file.

CountryWeightWeight bar
Taiwan30.6%
China25.3%
India16.9%
Brazil4.4%
South Africa3.3%
Saudi Arabia3.0%
Mexico2.2%
Hong Kong1.8%
Malaysia1.8%
Thailand1.7%
Other countries8.2%

From its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. How these are measured.

What did VWO hold in its SEC reports since 2019?

In VWO's SEC filings, its largest position went from Alibaba Group Holding Ltd (BABA) at 4.27% on 2019-10-31 to Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) at 15.56% on 2026-07-31, across 25 quarterly reports.

Largest in 2019
BABA
4.27% on 2019-10-31
Largest in 2026
2330.TW
15.56% on 2026-07-31
Ten largest
27.4%
18.8% in 2019
Quarterly reports
25
since 2019, SEC Form N-PORT
ReportPositionsLargestTop 10
2019-10-313,669BABA 4.27%18.8%
2020-10-313,760BABA 8.06%27.7%
2021-10-314,1022330.TW 4.91%20.8%
2022-10-314,3792330.TW 4.01%15.8%
2023-10-314,5232330.TW 5.10%17.9%
2024-10-314,7272330.TW 8.65%22.3%
2025-10-314,8912330.TW 11.09%26.2%
2026-07-314,9272330.TW 15.56%27.4%

The first report, then the last of each year, of the 25 reports VWO filed on SEC Form N-PORT from 2019-10-31 to 2026-07-31, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/vwo/{date}.json. How these are read.

What does VWO duplicate?

The ETF nearest to VWO is SCHE: the two hold 86.8% of their weight in common, in the 2130 companies both own, and 89.3% of VWO itself is also held there. Owning VWO alongside the ETFs at the top of this table means holding mostly the same companies twice.

ETFOverlap by weightOf VWO held thereOf that ETF in VWOCompanies in bothOverlap bar
SCHE 86.8% 89.3% 98.8% 2130
IEMG 73.5% 90.2% 75.7% 2142
EEM 72.0% 80.0% 75.9% 1010
HEEM 71.9% 80.0% 75.9% 1010
SPEM 63.7% 74.0% 80.4% 1895
EEMA 63.2% 64.5% 79.4% 782
EEMX 62.5% 67.8% 68.3% 814
AAXJ 61.4% 64.9% 69.6% 786
EMXC 55.3% 56.8% 70.6% 452
XSOE 54.4% 61.5% 72.1% 682
EMGF 51.5% 66.6% 77.2% 567
ESGE 48.3% 53.1% 76.8% 234

VWO's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. SCHE's holdings are from its SEC Form N-PORT for the period ended 2026-05-31, filed 2026-07-24. 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 VWO against any ETF in the ETF overlap calculator · how overlap is measured.

What adds something different to VWO?

USRT shares 0% of weight with VWO and its weekly returns correlate with it at 0.40 over three years. The table lists the covered ETFs with the least in common with VWO, least shared weight first and, among equals, lowest correlation.

ETFNameOverlap by weightCorrelation, 3yCompanies in both
USRT iShares Core U.S. REIT ETF 0.0% 0.40 0
USMV iShares MSCI USA Min Vol Factor ETF 0.0% 0.47 0
IJR iShares Core S&P Small-Cap ETF 0.0% 0.56 0
PFF iShares Preferred and Income Securities ETF 0.0% 0.58 0
IJH iShares Core S&P Mid-Cap ETF 0.0% 0.62 0
VLUE iShares MSCI USA Value Factor ETF 0.0% 0.64 0
THRO iShares U.S. Thematic Rotation Active ETF 0.0% 0.66 0
QUAL iShares MSCI USA Quality Factor ETF 0.0% 0.67 0

VWO's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. The other ETFs' holdings are from their issuers' latest files.

Cost, returns and risk

Expense ratio0.06%
Total return, 1 year10.6%
Total return, 3 years cumulative68.8%
Total return, 5 years cumulative31.7%
Volatility, annualised15.1%
Worst fall, 3 years-12.0%
Beta against SPY, 3 years of weekly returns0.75
Weight in the ten largest positions27.4%
Largest single position15.6%

Expense ratio, yield and assets are reference data (the expense ratio from VWO's SEC filing of 2026-02-27); the weight in the ten largest positions and the largest single position are from VWO's SEC Form N-PORT for the period ended 2026-07-31; every other figure is computed here from weekly closes.

How it moves with the market

AgainstCorrelation, 3 yearsCovariance, annualised, in percent squared
SPY0.71often in step151
QQQ0.69loosely linked203

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

Year by year

YearTotal return
20269.7%
202525.6%
202410.6%
20239.3%
2022-18.0%

One year

VWO 109 SPY 115
2025-10-242026-10-16
VWO rebased to 100 a year ago, weekly closes, prices through 2026-10-16.

Where to go next

Holdings from VWO's SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. Prices through 2026-10-16. How every figure here is produced. Measurements, not investment advice.

Cite this page

TickerInside, Vanguard FTSE Emerging Markets ETF (VWO), holdings from SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28, https://tickerinside.com/etf/vwo/, CC BY 4.0

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