Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
ACWX vs IEMG: how they differ
ACWX and IEMG hold 30% of their weight in the same names, and IEMG returned more over the year.
iShares MSCI ACWI ex U.S. ETF and iShares Core MSCI Emerging Markets ETF.
What they hold in common
By the books each fund has filed, ACWX and IEMG hold 30% of their money in the same securities at the same weight.
| Holding | ACWX | IEMG |
|---|---|---|
| Taiwan Semiconductor Manufacturing Compa | 4.69% | 12.52% |
| SK hynix Inc. | 1.33% | 5.83% |
| Tencent Holdings Limited | 1.07% | 2.38% |
| Alibaba Group Holding Limited | 0.79% | 1.83% |
| DELTA ELECTRONICS, INC. | 0.37% | 1.03% |
| MediaTek Inc. | 0.35% | 1.42% |
| HON HAI PRECISION INDUSTRY CO., LTD. | 0.25% | 0.79% |
| RELIANCE INDUSTRIES LIMITED | 0.25% | 0.58% |
| HDFC BANK LIMITED | 0.25% | 0.61% |
| Samsung Electronics Co., Ltd. | 0.24% | 0.74% |
| PDD Holdings Inc. | 0.19% | 0.41% |
| ICICI BANK LIMITED | 0.19% | 0.48% |
| Only in ACWX | Only in IEMG |
|---|---|
| ASML Holding N.V. 1.54% | MPI CORPORATION 0.11% |
| HSBC HOLDINGS PLC 0.86% | Winbond Electronics Corporation 0.11% |
| ASTRAZENECA PLC 0.81% | NANYA TECHNOLOGY CORPORATION 0.09% |
| Novartis AG 0.77% | Phison Electronics Corporation 0.09% |
| Nestle S.A. 0.72% | TAIWAN UNION TECHNOLOGY CORPORATION 0.09% |
| SHELL PLC 0.71% | LG INNOTEK CO.,LTD 0.09% |
| ROYAL BANK OF CANADA 0.69% | MACRONIX INTERNATIONAL CO., LTD. 0.07% |
| Siemens Aktiengesellschaft 0.62% | COMPEQ MANUFACTURING COMPANY LIMITED 0.06% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Apr 30, 2026 and May 31, 2026.
| ACWX iShares MSCI ACWI ex U.S. ETF | IEMG iShares Core MSCI Emerging Markets ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | iShares |
| What it is | MSCI ACWI ex U.S. | Core MSCI Emerging Markets |
| Total return, 1 year | +23.0% | +30.6% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +5.5 pts | +13.1 pts |
| Expense ratio | 0.32% | 0.09% |
| Already in the S&P 500 | 0.0% | 0.0% |
| Holdings | 1759 | 2695 |
ACWX in plain words
ACWX is an index equity fund tracking the MSCI ACWI ex U.S.. Over the year to Sep 11, 2026 it returned +23.0% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.32% a year. By its holdings filed for Apr 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1759 positions, with the top ten at 14.6%.
IEMG in plain words
IEMG is an index equity fund tracking the Core MSCI Emerging Markets. Over the year to Sep 11, 2026 it returned +30.6% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 2695 positions, with the top ten at 34.1%. It sat 4.0% below its high of Jun 22, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, ACWX or IEMG?
- In the year to Sep 12, 2026, with distributions reinvested, ACWX returned +23.0% and IEMG returned +30.6%, so IEMG returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, ACWX or IEMG?
- ACWX charges 0.32% a year and IEMG charges 0.09%, so IEMG is cheaper. Fees come from each fund's prospectus.
- How much do ACWX and IEMG overlap with the S&P 500?
- By their latest filed holdings, 0% of ACWX and 0% of IEMG by weight is stocks the S&P 500 already holds. Between the two funds, 30% of their books are the same securities at the same weight.
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, ACWX against IEMG, data as of Sep 12, 2026. https://etfiq.com/compare/any/ACWX-IEMG Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources