EEM Fund Description

The iShares MSCI Emerging Markets ETF tracks an index of emerging markets firms weighted by market cap.

EEM ETF.com Insight

Segment powerhouse EEM boasts more than $37B in AUM and huge daily trading volume totals. The fund's basket matches the market well thanks to its use of a similar, albeit less inclusiveSegment powerhouse EEM boasts more than $37B in AUM version of our MSCI segment benchmark. Since EEM doesn't significantly optimize its portfolio, its sector and country bets are fairly muted. The fund's index does not go as far down the market-cap spectrum as our benchmark, which helps drive the portfolio's average market cap slightly higher than the market's ($48B vs. $42B). It's a less inclusive portfolio than its sister fund IEMG, and its 69 bp expense ratio makes it more costly to hold as well. Given the presence of IEMG in the segment, EEM is the choice for institutional investors and active traders thanks to its robust liquidity and deep options market. (Insight updated 01/23/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/28/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

EEM (Mkt)
4.01% 10.79% 8.73% 15.11% 0.60% 6.79% 12.0%

EEM (NAV)

3.62% 9.86% 9.09% 14.53% 0.13% 6.63% 12.0%

MSCI Emerging Markets Index

3.67% 9.94% 9.53% 15.07% 0.59% 7.82% 12.6%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EEM Top 10 Countries View All

EEM Top 10 Sectors

EEM Top 10 Holdings View All

EEM Summary Data

BlackRock

A company that produces and manages ETFs.

04/07/03

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.67%

The net total annual fee a fund holder pays to the issuer.

$42.16 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$1.67 B

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

EEM Portfolio Data

$45.82 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

13.59

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.56

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.58%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/17/14

The date on which a security's price excludes an upcoming dividend.

819

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

EEM Index Data

MSCI Emerging Markets Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI Emerging Markets
Investable Market Index

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to EEM

VWO, SCHE, GMM, DBEM

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

EEM ETF.com Efficiency Insight

EEM loses the bulk of its points here due to its lofty 69 bp expense ratio and from the volatility in tracking its index. The price tag, which is more than triple the cost of VWO and one of the highest in the segment, does come with good tax management, however. The real problem is sloppy tracking: EEM lagged its index by as much as 105 bps over a 1-year stretch. (Insight updated 01/23/2014)


Total Return
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 07/28/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

EEM (Mkt)
4.01% 10.79% 8.73% 15.11% 0.60% 6.79% 12.0%

EEM (NAV)
3.62% 9.86% 9.09% 14.53% 0.13% 6.63% 12.0%

MSCI Emerging Markets Index
3.67% 9.94% 9.53% 15.07% 0.59% 7.82% 12.6%

MSCI Emerging Markets Investable Market Index
3.53% 9.58% 9.72% 14.90% 0.56% 8.03% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EEM Portfolio Management

0.67%

The net annual fee a fund holder pays to the issuer.

-0.56%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.34%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.79%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

EEM Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

EEM Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

75% / 25%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

N/A

The multiple of the underlying index which the fund aims to deliver. For funds that reset, the leverage factor holds true only for the reset period, often just 1 day.

N/A

The time period at which the fund “trues up” its leverage factor. For funds that reset, the reset period–often just 1 day–is the length of time over which the fund delivers its leverage factor.

EEM ETF.com Tradability Insight

As one of the most popular ETFs on the market, EEM's trading volume can accommodate transactions of all sizes. Spreads are just 2 bps, or a penny wide, and $2.5B changes hands daily. The fund's on-screen liquidity - which works out to roughly 130 creation units per day - makes block trades cheaper too. In all, EEM is extremely easy to trade. (Insight updated 01/23/2014)

Average Spread

Premium/Discount

Volume

EEM ETF.com/ Block LiquidityAs of 07/29/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of EEM. EEM is rated a 5 out of 5.

EEM Tradability

38,237,193

The average number of shares traded during a 60 day period.

$1.67 B

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

35,955,790

Median number of shares traded over the past 45 trading days.

$1.58 B

Median dollar value of shares traded over the past 45 trading days.

0.02%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 60 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 60 days, in dollars.

0.07%

The middle value in the ranked set of all premium/discount values over a 12-month period.

4.28% / -2.75%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

19.85%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

450,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

79.90

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.04%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.36%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

10,316,226

The total number of net outstanding options contracts for an ETF.

$44.7

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

EEM ETF.com Fit Insight

Overall EEM does a good job providing neutral exposure to emerging markets, with a few small exceptions. The fund tracks a narrower index than our benchmark, ignoring many of the small-cap and all of the micro-cap firms in our benchmark, tilting it toward larger firms. By country, EEM has no real biases away from the market while the fund's sector exposure lines up nearly perfectly with our benchmark. (Insight updated 01/23/2014)

EEM Geographic ExposureView All

EEM Segment Benchmark
15.72% 15.50%
12.64% 12.72%
10.40% 10.88%
7.63% 7.54%
6.97% 6.88%
6.06% 5.66%
4.90% 5.40%
4.91% 5.15%
17.12% 18.03%

EEM Segment Benchmark
65.20% 62.54%
17.92% 18.76%
8.66% 9.94%
8.10% 8.63%
0.12% 0.12%
35.76% / 64.24% 34.54% / 65.46%

EEM Performance Statistics

1.00

The degree to which the fund and its segment benchmark move up and down in unison.

1.04

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

1.05

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.03

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.05%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI Emerging Markets
Investable Market Index

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

EEM Benchmark Comparison

EEM
819 Holdings
Segment Benchmark
2585 Constituents
Shared Holdings
786 (Count)
 
85.63% (Weight)
EEMSegment Benchmark
$40.22 B$45.82 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

53%61%
31%35%
13%4%
4%0%
13.8013.59

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.541.56

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

2.21%2.29%

The weighted average of the current yield on the portfolio’s holdings.

2585819

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.