iShares MSCI Emerging Markets ETF vs Vanguard All-World ex-US Shares Index ETF
These ETFs do not share enough listed holdings to estimate overlap.
Scored across Cost (35%), Fund size (20%), Holdings breadth (25%), Income (20%). Past performance is excluded.
See full breakdown ↓Overlap is estimated from the funds' listed top holdings, not their full constituent lists. Where there are no shared listed holdings it is shown as not reliably estimable.
IEM and VEU are both Global Broad Market ETFs. IEM tracks the MSCI Emerging Markets Index and VEU tracks the FTSE All-World ex US Index. VEU has the lower management fee (0.04% vs 0.69% p.a.). A holdings overlap is not reliably estimable for this pair.
iShares MSCI Emerging Markets ETF
BlackRock (iShares)
Vanguard All-World ex-US Shares Index ETF
Vanguard
Comparison scores reflect how each ETF compares to the other on these specific dimensions only. They are not absolute ratings or recommendations.
Key differences at a glance
Neither IEM nor VEU is the "right" pick for everyone; it comes down to what you want from the holding. Where they differ most:
Green highlights the leading comparison score, the factually lower fee, or the higher scale or income figure. Performance is never highlighted. Data from issuer disclosures and the ASX Investment Products report. Fund size, yield, return and holdings figures each state the date they are as at.
Category scores compare these two ETFs only and are not absolute ratings.
Cost (management fee): VEU has the lower management fee - the one objective "cheaper" axis.
Fund size (assets): VEU is the larger fund. Larger is not inherently better, but greater scale can support tighter spreads and lower closure risk.
Holdings breadth: IEM and VEU offer similar breadth of exposure.
Income (distribution yield): IEM distributes approximately 1.5% and VEU distributes approximately 2.4%; VEU carries the higher estimated distribution yield. A higher yield may suit an income focus; a lower one may suit a growth or tax-efficiency focus. Yields are estimates and are not guaranteed; past performance is not a reliable indicator of future returns.
General information only, not financial advice. ETFLens does not hold an AFSL. Always read the relevant PDS and consider seeking advice from a licensed financial adviser.
Fund sizes as at 30 Sep 2026 for both funds.
Yield figures are estimates based on recent distributions and may vary. Yields as at 30 Apr 2026 for both funds. Past performance is not a reliable indicator of future returns or distributions. These figures may be out of date. Check the fund manager's website for current performance.
Returns as at 30 Sep 2026 for both funds.
Past performance is not a reliable indicator of future returns.
Top 10 listed holdings for each fund, from issuer disclosures. Where a fund does not publish full holdings, its list is not shown here (a category-based estimate appears on the fund page). VEU listed top holdings as at 30 Sep 2026.
IEM top holdings
This issuer does not publish full holdings for this fund, so they are not shown here.
VEU top holdings
Based on each fund's most recently published sector and geographic weightings; figures are approximate. Full breakdowns are shown below.
IEM sectors
VEU sectors
IEM geography
VEU geography
Whether IEM or VEU fits comes down to your goals, time horizon and what you already hold. The clearest differences are summarised near the top of this page, with the full data below.
IEM and VEU do not share enough listed top holdings to reliably estimate a holdings overlap. Compare their fees, holdings and sectors on this page.
VEU has the lower management fee. IEM charges 0.69% per year ($69 per year on a $10,000 investment) and VEU charges 0.04% per year ($4 per year on a $10,000 investment). The difference is $65 per year per $10,000 invested.
IEM (iShares MSCI Emerging Markets ETF) manages approximately $1.8B and VEU (Vanguard All-World ex-US Shares Index ETF) manages approximately $6.5B. Fund sizes as at 30 Sep 2026 for both funds. Fund size can affect liquidity and bid-ask spreads but does not by itself change the management fee.
IEM and VEU do not share enough listed top holdings to estimate overlap, so whether holding both duplicates your exposure depends on their full constituent lists.
There is no universally right choice. It depends on your goals, time horizon and existing holdings. IEM charges 0.69% and VEU charges 0.04%, so VEU has the lower management fee. Compare their fees, holdings and sectors above and consider each fund's Product Disclosure Statement and Target Market Determination.
General information only. This comparison and the ETFLens tools on this page provide general information about two exchange-traded funds and do not take into account your personal objectives, financial situation or needs. It is not personal financial product or investment advice. ETFLens does not hold an Australian Financial Services Licence (AFSL). Holdings overlap is calculated from each fund's published holdings (full lists where the issuer publishes one, listed top holdings otherwise), and fee data is sourced from fund manager PDS documents. Past performance is not a reliable indicator of future returns. Consider each fund's Product Disclosure Statement (PDS) and Target Market Determination (TMD), and seek advice from a registered tax agent or licensed financial adviser, before making investment decisions.
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