Vanguard Emerging Markets Stock Index Fund(VWO)
AI Look-Through Summary
AI GeneratedThe portfolio presents a heavily concentrated exposure within the "Other" sector, which accounts for nearly seventy percent of total assets, while maintaining an extremely low weighting across traditional industries like consumer cyclical and financial services. This structure suggests a distinct tilt toward non-traditional emerging market drivers rather than standard industrial or consumption-based growth engines. Valuation metrics indicate a significant discount relative to historical norms, with the fund trading at a weighted price-to-book ratio of 0.10x and a price-to-earnings multiple of roughly ten times earnings, reflecting a deeply value-oriented posture within this specific geographic universe.
A substantial concentration risk exists due to the single largest holding representing fourteen percent of the entire portfolio, creating notable sensitivity to idiosyncratic events surrounding that specific entity compared to more broadly diversified peers. The sector mix diverges sharply from broader market norms by virtually excluding major pillars such as energy and financial services, which are typically significant components in global emerging markets indices. This unique composition would likely perform favorably if macroeconomic conditions support the specific drivers of the "Other" category while remaining vulnerable to downturns that disproportionately impact those niche sectors or the dominant single holding.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-24 06:48:20.996535+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 85/100The Vanguard Emerging Markets Stock Index Fund presents a significant thematic misalignment between its name and the provided holding data. While the fund's title implies broad exposure to emerging market equities, the top holdings list includes entities such as PDD, which is explicitly categorized under Consumer Cyclical rather than traditional emerging market sectors like Financials or Industrials often found in these indices. Furthermore, several major positions are listed with "N/A" status regarding their specific sector classification, suggesting a lack of granular thematic tagging for the largest constituents. This discrepancy indicates that the fund may be utilizing broad-market names to stabilize returns rather than maintaining a strict adherence to a narrowly defined emerging market theme, as the provided data fails to clearly map these large-cap assets to coherent regional or industrial sectors typical of such an investment vehicle.
Concentration risk appears elevated given that the top ten holdings account for 25.6% of the portfolio, with a single entity comprising nearly 14%. The sector breakdown further highlights a lack of differentiation from a broad market index, as the weighted exposure to Consumer Cyclical and Basic Materials is minimal compared to what might be expected in a diversified emerging markets fund where Financial Services typically dominate. The near-absence of weightings for key sectors like Technology or Industrials, combined with the opaque sector labels on major holdings, suggests the portfolio relies heavily on mega-cap diversification rather than thematic coherence. Consequently, the fund's structure does not clearly distinguish itself from general market exposure based solely on this data, raising questions about whether it offers a specialized emerging markets strategy or simply tracks global large-cap trends through an index methodology.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 15:59:52.249211+00
🏢 Sector Analysis
AI GeneratedThe provided sector allocation data for the Vanguard Emerging Markets Stock Index Fund presents a significant anomaly that contradicts standard expectations for an emerging markets vehicle. Typically, such funds exhibit substantial exposure to Financial Services and Consumer Discretionary sectors, which are often dominant in developing economies. In this specific dataset, however, all major sectors including Communication Services show zero weightings, while the reported allocations for Basic Materials, Energy, and Financial Services are negligible at 0.3%, 0.1%, and 0.1% respectively. This near-total absence of traditional sector classifications suggests that the fund's holdings do not align with standard Global Industry Classification Standard definitions or that the data source has failed to map the underlying assets correctly.
The concentration profile reveals a heavy reliance on top-tier positions, with the largest single holding accounting for 14.0% of the portfolio and the aggregate weight of the top ten names reaching 25.6%. This level of concentration indicates a strategy heavily weighted toward specific large-cap entities rather than broad diversification across industries or geographies within emerging markets. The identity of these top holdings, including tickers such as 2330 and 700, points to exposure in technology and internet sectors, yet the sector-level breakdown fails to reflect this reality by assigning zero weight to Communication Services. Consequently, the fund appears to carry a high degree of idiosyncratic risk tied directly to these few largest constituents rather than systematic market movements across defined industry groups.
This discrepancy between the granular top-holding data and the aggregated sector statistics creates an opaque picture regarding the fund's actual factor tilts. While one might infer exposure to growth factors based on the specific tickers listed, the official sector allocation renders this analysis impossible due to the lack of meaningful category assignments. Investors relying solely on the provided sector breakdown would see a portfolio devoid of traditional industrial or service exposures, which likely misrepresents the true risk profile and investment thesis embedded in the underlying asset selection. The data suggests either a unique indexing methodology that bypasses standard sectors or a reporting error that obscures the fund's genuine diversification characteristics.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 16:54:10.976499+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share VWO's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of VWO's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPEMSPEM | $16B | — | 353 | 56.2% |
| VXUSVXUS | $624B | — | 105 | 47.8% |
| VEUVEU | $86B | — | 105 | 47.7% |
| VSGXVSGX | $6B | — | 128 | 43.9% |
| CWICWI | $2B | — | 251 | 36.3% |
56% of VWO's portfolio by weight is also held by SPEM. When SPEM receives inflows, it mechanically buys these shared stocks — dragging VWO's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofVWO's weight.
Overlap computed from constituent-level holdings data across 5 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 3% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
Earnings vs. Price Decomposition
ProprietaryVWO is up 32.6% over the last 12 months. The underlying weighted earnings growth of its constituents is +76.0%. Despite earnings growth, valuations have contracted by 43.4% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 1% of fund weight with earnings data. Not investment advice.
Concentration Risk Monitor
HIGH2330 at 14.0% contributes an estimated 87% of portfolio variance.VWO holds 50 stocks but behaves like an 44-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.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | 2330 | Taiwan Semiconductor Manufacturing Co. Ltd. | 14.04% | — | — |
| 2 | 700 | Tencent Holdings Ltd. | 3.13% | — | — |
| 3 | 9988 | Alibaba Group Holding Ltd. | 2.45% | — | — |
| 4 | 2308 | Delta Electronics Inc. | 1.12% | — | — |
| 5 | 2454 | MediaTek Inc. | 1.02% | — | — |
| 6 | RELIANCE | Reliance Industries Ltd. | 0.86% | — | — |
| 7 | 939 | China Construction Bank Corp. Class H | 0.82% | — | — |
| 8 | HDFCBANK | HDFC Bank Ltd. | 0.77% | — | — |
| 9 | 2317 | Hon Hai Precision Industry Co. Ltd. | 0.72% | — | — |
| 10 | PDD | PDD Holdings Inc. ADR Consumer Cyclical | 0.63% | 8.9x | — |
| 11 | 1398 | Industrial & Commercial Bank of China Ltd. Class H | 0.60% | — | — |
| 12 | ICICIBANK | ICICI Bank Ltd. | 0.59% | — | — |
| 13 | 1810 | Xiaomi Corp. Class B | 0.54% | — | — |
| 14 | VALE3 | Vale SA | 0.49% | — | — |
| 15 | BHARTIARTL | Bharti Airtel Ltd. | 0.49% | — | — |
Historical Holdings Snapshots
Browse how VWO’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | VALE3 | 0.49% | 49,699,592 | $814.8M |
| 15 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
2026-05-23
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | VALE3 | 0.49% | 49,699,592 | $814.8M |
| 15 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
2026-05-22
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | VALE3 | 0.49% | 49,699,592 | $814.8M |
| 15 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
2026-05-21
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | VALE3 | 0.49% | 49,699,592 | $814.8M |
| 15 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
2026-05-20
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
| 15 | VALE3 | 0.49% | 49,699,592 | $814.8M |
2026-05-19
15 holdings · 28.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | 2330 | 14.04% | 336,519,605 | $23.4B |
| 2 | 700 | 3.13% | 85,748,744 | $5.2B |
| 3 | 9988 | 2.45% | 247,728,160 | $4.1B |
| 4 | 2308 | 1.12% | 26,657,356 | $1.9B |
| 5 | 2454 | 1.02% | 20,293,630 | $1.7B |
| 6 | RELIANCE | 0.86% | 94,397,271 | $1.4B |
| 7 | 939 | 0.82% | 1,209,908,103 | $1.4B |
| 8 | HDFCBANK | 0.77% | 156,963,021 | $1.3B |
| 9 | 2317 | 0.72% | 168,377,761 | $1.2B |
| 10 | PDD | 0.63% | 10,526,997 | $1.1B |
| 11 | 1398 | 0.60% | 1,103,076,614 | $993.8M |
| 12 | ICICIBANK | 0.59% | 73,077,157 | $980.6M |
| 13 | 1810 | 0.54% | 238,842,600 | $896.2M |
| 14 | BHARTIARTL | 0.49% | 41,032,308 | $820.2M |
| 15 | VALE3 | 0.49% | 49,699,592 | $814.8M |
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.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove VWO Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedVWO is trading below its 50-day simple moving average but above the 200-day SMA, suggesting a short-term downtrend with some underlying long-term support. The Relative Strength Index (RSI) at 37.1 indicates that it's in oversold territory, which could signal potential near-term buying pressure if momentum shifts positively.
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 VWO’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.