MSCI Emerging Markets or MSCI China?
The two indices share 19.0 % of their weight across 535 companies, and their daily returns correlate at 0.69. Partly the same companies at noticeably different weights — the second index shifts the emphasis rather than doubling up.
Side by side
| MSCI Emerging Markets | MSCI China | |
|---|---|---|
| Holdings covered | 1,077 | 548 |
| Volatility | 22.0 % | 28.2 % |
| Max drawdown | -18.7 % | -26.7 % |
| Cheapest ETF we cover | SPYM · 0.18 % | – |
The largest shared positions
| Company | MSCI Emerging Markets | MSCI China |
|---|---|---|
| Tencent Holdings Ltd. | 3.17 % | 14.61 % |
| Alibaba Group Holding Limited | 2.24 % | 10.31 % |
| China Construction Bank Corporation Class H | 0.82 % | 3.69 % |
| Meituan Class B | 0.50 % | 2.30 % |
| PDD Holdings Inc. Sponsored ADR Class A | 0.44 % | 2.00 % |
| Ping An Insurance (Group) Company of China Ltd. Class H | 0.39 % | 1.85 % |
| Netease Inc | 0.38 % | 1.76 % |
| Bank of China Limited Class H | 0.38 % | 1.75 % |
| JD.com Inc. Class A | 0.32 % | 1.44 % |
| Baidu Inc. Class A | 0.25 % | 1.11 % |
Overlap and shared positions are computed from the holdings of one representative ETF each (SPYM and XCS6); of those we could attribute 78.2 % and 88.1 % of fund weight to individual companies, so real overlap is likely a little higher. The correlation covers 504 shared trading days.