# Portfolio overlap — VEMAX vs FLAX

Comparing **VANGUARD EMERGING MARKETS STOCK INDEX FUND** (2026-01-31) and **Franklin FTSE Asia ex Japan ETF** (2026-03-31).

- Shared positions: 1241
- VANGUARD EMERGING MARKETS STOCK INDEX FUND covered by Franklin FTSE Asia ex Japan ETF: 0.5456421307818081500278589654
- Franklin FTSE Asia ex Japan ETF covered by VANGUARD EMERGING MARKETS STOCK INDEX FUND: 0.5456421307818081500278589653

## VANGUARD EMERGING MARKETS STOCK INDEX FUND — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| TSMC | 0.117325 | ✓ |
| TENCENT | 0.041534 |  |
| Vanguard Market Liquidity Fund | 0.037017 |  |
| BABA-W | 0.033220 | ✓ |
| HDFC BANK LTD | 0.010010 | ✓ |
| RELIANCE INDUSTR | 0.009046 |  |
| CCB-H | 0.007705 | ✓ |
| HON HAI | 0.007344 | ✓ |
| MEDIATEK | 0.007103 | ✓ |
| XIAOMI CORP-W | 0.006814 | ✓ |
| ICICI BANK LTD | 0.006795 | ✓ |
| PINDUODUO IN-ADR | 0.006704 |  |
| DELTA ELEC | 0.006419 | ✓ |
| MEITUAN-W | 0.005746 | ✓ |
| ICBC-H | 0.005737 | ✓ |
| INFOSYS LTD | 0.005508 |  |
| BHARTI AIRTEL LIMITED | 0.005318 | ✓ |
| PING AN-H | 0.005263 | ✓ |
| VALE SA | 0.005017 |  |
| AL RAJHI BANK | 0.004895 |  |
| NETEASE INC | 0.004121 | ✓ |
| NASPERS LTD-N | 0.004075 |  |
| BYD COMPANY LTD H | 0.004012 | ✓ |
| ANGLOGOLD ASHANTI PLC | 0.003959 |  |
| GOLD FIELDS LTD | 0.003864 |  |
| BIDU-SW | 0.003593 | ✓ |
| SAUDI ARABIAN OI | 0.003563 |  |
| BANK OF CHINA-H | 0.003554 | ✓ |
| ITAU UNIBAN-PREF | 0.003515 |  |
| TRIP.COM GROUP L | 0.003191 | ✓ |
| JD-SW | 0.003152 | ✓ |
| SAUDI NATIONAL B | 0.003047 |  |
| MAHINDRA & MAHIN | 0.003041 | ✓ |
| TATA CONSULTANCY | 0.003038 |  |
| AXIS BANK LTD | 0.002991 |  |
| CHINA LIFE-H | 0.002895 | ✓ |
| GRUPO F BANORT-O | 0.002847 |  |
| KUWAIT FINANCE | 0.002831 |  |
| GRUPO MEXICO-B | 0.002764 |  |
| PETROBRAS-PREF | 0.002756 |  |
| ZIJIN MINING-H | 0.002700 | ✓ |
| ASE TECHNOLOGY H | 0.002657 | ✓ |
| FIRSTRAND LTD | 0.002650 |  |
| OTP BANK PLC | 0.002523 |  |
| LARSEN & TOUBRO | 0.002519 |  |
| PETROBRAS | 0.002490 |  |
| BAJAJ FINANCE LT | 0.002486 |  |
| KUAISHOU-W | 0.002483 | ✓ |
| CTBC FINANCIAL | 0.002475 | ✓ |
| SAUDI ARABIAN MI | 0.002389 |  |

## Franklin FTSE Asia ex Japan ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| TSMC | 0.137438 | ✓ |
| SAMSUNG ELECTRONICS CO LTD | 0.052722 |  |
| TENCENT HOLDINGS LTD | 0.039258 |  |
| SK HYNIX INC | 0.029244 |  |
| BABA-W | 0.027908 | ✓ |
| AIA Group Ltd | 0.011670 |  |
| RELIANCE INDUSTRIES LTD(DEMAT)DEMATERIALIZED SHS | 0.009926 |  |
| CCB-H | 0.009686 | ✓ |
| DBS GROUP HLDGS | 0.009146 |  |
| HDFC BANK LTD | 0.008985 | ✓ |
| DELTA ELEC | 0.008530 | ✓ |
| PDD HOLDINGS INC ADR | 0.008062 |  |
| HON HAI | 0.007269 | ✓ |
| XIAOMI CORP-W | 0.007195 | ✓ |
| ICBC-H | 0.007173 | ✓ |
| MEDIATEK | 0.007050 | ✓ |
| ICICI BANK LTD | 0.006894 | ✓ |
| SAMSUNG ELE-PREF | 0.006139 |  |
| HKEX | 0.006046 |  |
| OCBC BANK | 0.005816 |  |
| MEITUAN-W | 0.005812 | ✓ |
| BHARTI AIRTEL LIMITED | 0.005722 | ✓ |
| PING AN-H | 0.005180 | ✓ |
| BYD COMPANY LTD H | 0.005104 | ✓ |
| INFOSYS LTD COMMON STOCK | 0.004661 |  |
| BANK OF CHINA-H | 0.004439 | ✓ |
| NETEASE INC | 0.004032 | ✓ |
| HYUNDAI MOTOR CO | 0.004024 |  |
| UNITED OVERSEAS | 0.003604 |  |
| JD-SW | 0.003575 | ✓ |
| ASE TECHNOLOGY H | 0.003510 | ✓ |
| KB FINANCIAL GRO | 0.003402 |  |
| BIDU-SW | 0.002993 | ✓ |
| MAHINDRA & MAHIN | 0.002979 | ✓ |
| TRIP.COM GROUP L | 0.002962 | ✓ |
| PETROCHINA-H | 0.002944 | ✓ |
| AXIS BK LTD | 0.002886 |  |
| SINGAPORE TELECO (LOT SIZE 100) | 0.002812 |  |
| SK SQUARE CO LTD | 0.002809 |  |
| HANWHA AEROSPACE | 0.002785 |  |
| CTBC FINANCIAL | 0.002740 | ✓ |
| DOOSAN ENERBILIT | 0.002712 |  |
| TATA CONSULTANCY VSS LTD | 0.002616 |  |
| ZIJIN MINING-H | 0.002566 | ✓ |
| LARSEN and TOUBRO LTD | 0.002562 |  |
| SHINHAN FINANCIA | 0.002494 |  |
| CHINA MERCHANTS BANK-H COMMON STOCK | 0.002454 |  |
| Bajaj Finance Ltd | 0.002440 |  |
| CHINA LIFE-H | 0.002411 | ✓ |
| ELITE MATERIAL | 0.002375 | ✓ |


## Sources

- N-PORT (fund A) — accession `0000857489-26-000084` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/857489/000085748926000084/0000857489-26-000084-index.htm>
- N-PORT (fund B) — accession `0000940400-26-020174` (as of 2026-03-31)
  <https://www.sec.gov/Archives/edgar/data/1655589/000094040026020174/0000940400-26-020174-index.htm>

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