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 $30B 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 $30B 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. It's a less inclusive portfolio than its sister fund IEMG, and its 67 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 12/19/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

EEM
-5.11% -10.68% -5.68% -4.55% 3.36% 1.19% 7.92%

EEM (NAV)
-5.42% -11.41% -5.17% -4.06% 3.06% 1.08% 7.86%

MSCI Emerging Markets Index
-5.35% -11.26% -4.53% -3.52% 3.69% 2.12% 8.61%
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

Issuer BlackRock

A company that produces and manages ETFs.

Inception Date 04/07/03

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

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

Expense Ratio 0.67%

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

Assets Under Management $31.32 B

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

Average Daily $ Volume $2.28 B

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

(%) | 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 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 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 45 days, as a percent.

EEM Portfolio Data

Weighted Average Market Cap $45.39 B

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

Price / Earnings Ratio 12.84

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

Price / Book Ratio 1.44

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

Distribution Yield 2.29%

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

Next Ex-Dividend Date 12/29/14

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

Number of Holdings 816

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

Index Tracked MSCI Emerging Markets Index

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

Index Weighting Methodology Market Cap

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

Index Selection Methodology Market Cap

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

Segment 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.

Related ETFs to EEM

Top Competing ETFs 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 67 bp expense ratio. The price tag is more than triple the cost of VWO and one of the highest in the segment, but the fund also gets some of that back through securities lending revenue. EEM also has good tax management, as it hasn't made any capital gains distributions since inception. (Insight updated 12/19/2014)


Total Return - 12/18/2014

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 12/18/14]
1 Month
3 Month
YTD
1 Year
3 Years
5 Years
10 Years

EEM
-5.11% -10.68% -5.68% -4.55% 3.36% 1.19% 7.92%

EEM (NAV)
-5.42% -11.41% -5.17% -4.06% 3.06% 1.08% 7.86%

MSCI Emerging Markets Index
-5.35% -11.26% -4.53% -3.52% 3.69% 2.12% 8.61%

MSCI Emerging Markets Investable Market Index
-5.31% -11.19% -4.16% -3.10% 4.08% 2.28% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

EEM Portfolio Management

Expense Ratio 0.67%

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

(12 Mo) | 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." href="javascript:void(0)" class="term">Median Tracking Difference (12 Mo) -0.55%

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.

EEM Tax Exposures

Max LT/ST Capital Gains Rate 20.00% / 39.60%

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

Tax on Distributions Qualified dividends

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

Distributes K1 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

Legal Structure Open-Ended Fund

The organizational structure of the fund or ETN.

OTC Derivative Use No

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

Securities Lending Active Yes

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

ETN Counterparty N/A

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

ETN Counterparty Risk N/A

The risk of default by the ETN counterparty.

Fund Closure Risk Low

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

Portfolio Disclosure Daily

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

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 around $2B changes hands daily. The fund's robust block liquidity makes trading in size cheaper too. In all, EEM is extremely easy to trade. (Insight updated 12/19/2014)

Average Spread

Premium/Discount

Volume

EEM ETF.com/ Block LiquidityAs of 12/19/2014

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

Avg. Daily Share Volume 56,183,236

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

Average Daily $ Volume $2.28 B

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

Median Daily Share Volume 49,144,671

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

(%) | 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 45 days, as a percent." href="javascript:void(0)" class="term">Average Spread (%) 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 45 days, as a percent.

($) | The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars." href="javascript:void(0)" class="term">Average Spread ($) $0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

(12 Mo) | The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period." href="javascript:void(0)" class="term">Max. Premium / Discount (12 Mo) 1.68% / -2.75%

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

Impediment to Creations 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.

Market Hours Overlap 19.58%

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

(Shares) | 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." href="javascript:void(0)" class="term">Creation Unit Size (Shares) 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.

(45 Day Average) | 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." href="javascript:void(0)" class="term">Creation Unit/Day (45 Day Average) 109.21

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.

(%) | The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit." href="javascript:void(0)" class="term">Creation Unit Cost (%) 0.05%

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

Underlying Volume / Unit 0.49%

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.

Open Interest on ETF Options 8,339,289

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

ETF.com Implied Liquidity 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 12/19/2014)

EEM Geographic ExposureView All

Countries EEM Segment Benchmark
Korea, Republic Of 14.90% 14.59%

China 13.85% 14.05%

Brazil 8.97% 9.38%

South Africa 7.93% 7.83%

India 7.79% 7.38%

Hong Kong 6.84% 6.20%

Mexico 4.90% 5.11%

Russian Federation 3.64% 4.00%

Other 17.82% 19.03%

Regions EEM Segment Benchmark
Asia-Pacific 67.51% 64.77%

Latin America 16.22% 16.95%

Middle East & Africa 8.48% 9.57%

Europe 7.65% 8.59%

North America 0.14% 0.13%

Developed /
Emerging Split
35.47% / 64.53% 34.17% / 65.83%

EEM Performance Statistics

Beta 1.05

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.

Up Beta 1.06

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.

Down Beta 1.05

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.

Downside Standard Deviation 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.

Segment 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
816 Holdings
Segment Benchmark
2573 Constituents
Shared Holdings
783 (Count)
 
85.77% (Weight)
EEMSegment Benchmark
Market Cap | The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio." href="javascript:void(0)" class="term">Weighted Average
Market Cap
$39.94 B$45.39 B

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

Size Split

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

Large (>12.9B)53%61%
Mid (>2.7B)30%35%
Small (>600M)13%5%
Micro (<600M)4%0%
Price / Book Ratio1.131.44

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

Dividend Yield2.41%2.46%

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

Holdings | 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." href="javascript:void(0)" class="term">Number Of
Holdings
2573816

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.

ConcentrationLowLow

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