IEMG(IEMG)
AI Look-Through Summary
AI GeneratedThe iShares MSCI Emerging Markets IMI Index Fund (IEMG) presents a substantial asset base of $134.1 billion, indicating deep liquidity and significant market presence within the emerging markets sector. The fund's top holdings reveal a distinct geographic concentration in Asia-Pacific economies rather than broader global diversification across all developing regions. Specifically, Taiwan Semiconductor Manufacturing Company Limited accounts for 12.3% of assets under management, establishing it as the dominant single position and highlighting a heavy tilt toward semiconductor exposure within the Taiwanese market. This is reinforced by substantial weightings in South Korean equities, with Samsung Electronics and SK Hynix collectively comprising nearly nine percent of the portfolio, alongside notable positions in Chinese technology firms like Tencent and Alibaba.
The inclusion of Indian banking giants HDFC Bank and Reliance Industries further illustrates a strategic exposure to specific national champions within India's financial and industrial sectors, though these represent smaller fractions compared to the Asian tech leaders. The concentration risk is evident as the top ten holdings collectively command over 30% of the fund's total assets, with technology and manufacturing playing central roles in this allocation profile. Such a structure suggests that performance will be heavily influenced by macroeconomic trends specific to Taiwan, South Korea, and China, particularly within the semiconductor supply chain and consumer electronics industries. While the broad label implies access to emerging markets globally, the actual composition reflects a specialized focus on large-cap technology and industrial leaders in East Asia, potentially offering lower geographic diversification than traditional interpretations of an emerging market benchmark might suggest for investors seeking balanced regional exposure.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-22 18:15:17.329824+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 65/100The investment theme implied by the ticker IEMG is typically broad international equity exposure, yet the provided top holdings reveal a distinct regional skew heavily weighted toward Asian markets. While many of these positions align with global emerging market growth narratives, specific inclusions such as HDFCBANK.NS and RELIANCE.NS introduce significant Indian equities that may dilute a pure Asia-Pacific focus if one were expected based on sector composition alone. Furthermore, the concentration within the top ten holdings stands at 30%, indicating a reliance on a limited number of large-cap securities to drive performance rather than a diversified basket across numerous smaller thematic players. This structure suggests the fund prioritizes liquidity and stability through mega-caps over strict adherence to a niche sub-theme or geographic purity often associated with specialized international funds.
Sector coherence appears moderate given that financials, technology, and consumer staples dominate these specific holdings, which are standard pillars of emerging market economies rather than indicators of a singular innovative theme like clean energy or robotics. The portfolio demonstrates differentiation from a broad global index primarily through its heavy exposure to Asian equities while maintaining some presence in India, creating a unique geographic tilt that may not be immediately obvious without detailed sector analysis. However, the lack of data regarding specific industry classifications for several top holdings limits the ability to confirm if every position strictly adheres to an underlying investment thesis beyond general market representation. Ultimately, the fund presents as a concentrated vehicle targeting Asian and select Indian large-caps rather than a broadly diversified international strategy with deep thematic specificity across all asset classes.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-22 05:28:17.86023+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IEMG's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 14% of IEMG's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| EWTEWT | $7B | — | 3 | 14.2% |
14% of IEMG's portfolio by weight is also held by EWT. When EWT receives inflows, it mechanically buys these shared stocks — dragging IEMG's NAV along regardless of any thematic or sector catalyst.
Overlap computed from constituent-level holdings data across 1 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 68% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 29% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside IEMG collectively pay out 40% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 20% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryIEMG is up 54.7% over the last 12 months. The underlying weighted earnings growth of its constituents is +47.8%. The remaining +6.9% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 29% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IEMG's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IEMG's analyzed weight, 97% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 3% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 20% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
HIGH2330.TW at 12.3% contributes an estimated 73% of portfolio variance.IEMG holds 10 stocks but behaves like an 48-stock portfolio due to weight concentration in the top holdings.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
LOWHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
IEMG has a low Passive Crowding Score of 0/100. On average, 0.1% of the market capitalization of IEMG's underlying holdings is structurally locked in passive ETF vehicles. This indicates relatively low passive crowding — the underlying stocks have ample active-market liquidity to absorb ETF-driven flows without significant price distortion.
Passive $ = Σ(ETF AUM × holding weight) across all 2 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 10 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | 2330.TW | Taiwan Semiconductor Manufacturing Co Ltd | 12.32% | 27.8x | 9/9 |
| 2 | 005930.KS | Samsung Electronics Co Ltd | 5.23% | — | — |
| 3 | 000660.KS | SK Hynix Inc | 3.52% | — | — |
| 4 | 0700.HK | Tencent Holdings Ltd | 2.83% | 18.0x | 7/9 |
| 5 | 9988.HK | Alibaba Group Holding Ltd Ordinary Shares | 2.05% | 22.3x | 7/9 |
| 6 | 2308.TW | Delta Electronics Inc | 0.99% | 65.6x | 8/9 |
| 7 | 2454.TW | MediaTek Inc | 0.93% | 24.1x | 4/9 |
| 8 | 00939 | China Construction Bank Corp Class H | 0.80% | — | — |
| 9 | HDFCBANK.NS | HDFC Bank Ltd | 0.69% | 17.5x | 5/9 |
| 10 | RELIANCE.NS | Reliance Industries Ltd | 0.68% | 23.0x | 4/9 |
Historical Holdings Snapshots
Browse how IEMG’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
2026-05-23
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
2026-05-22
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
2026-05-21
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
2026-05-20
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
2026-05-19
10 holdings · 30.0% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330.TW | 12.32% | — | — |
| 2 | 005930.KS | 5.23% | — | — |
| 3 | 000660.KS | 3.52% | — | — |
| 4 | 0700.HK | 2.83% | — | — |
| 5 | 9988.HK | 2.05% | — | — |
| 6 | 2308.TW | 0.99% | — | — |
| 7 | 2454.TW | 0.93% | — | — |
| 8 | 00939 | 0.80% | — | — |
| 9 | HDFCBANK.NS | 0.69% | — | — |
| 10 | RELIANCE.NS | 0.68% | — | — |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
Technical Setup
AI GeneratedThe current price of IEMG at $80.58 sits within a specific technical context that warrants observation regarding its relative positioning against established moving averages. While the exact location within the SMA envelope is not explicitly defined by a single number, this price point suggests the asset may be testing support levels or consolidating after recent movements. In mean-reversion analysis, such a position often indicates a potential equilibrium where the security has neither extended significantly into overbought territory nor plunged deeply enough to trigger aggressive oversold conditions based solely on this snapshot. The proximity of the current level to these dynamic averages implies that future price action could be driven by whether momentum shifts back toward the central tendency or if external factors push it further away from the mean. Traders monitoring relative value here would likely watch for how quickly the price reacts once it interacts with the upper or lower bounds of the standard deviation bands surrounding the moving average. If $80.58 represents a touch near an envelope boundary, historical patterns might suggest a temporary pause in volatility before a reversal occurs, whereas trading well inside the band could indicate sustained momentum rather than immediate reversion. The absence of additional data points regarding volume spikes or broader market correlation leaves the interpretation open to how these technical structures evolve over time. Ultimately, the setup presents a scenario where the current valuation relative to its recent statistical average remains neutral pending further confirmation from subsequent price bars that clarify whether the asset is stabilizing at this level or continuing an existing trend away from it.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How IEMG’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.