Overview
Emerging markets with China removed — Taiwan, India, Korea and Brazil lead a ~700-stock portfolio for investors who want EM growth without Chinese policy risk.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| 2330 | Taiwan Semiconductor | 14.8% |
| 005930 | Samsung Electronics | 4.9% |
| 000660 | SK Hynix | 3.1% |
| RELIANCE | Reliance Industries | 1.4% |
| HDFCBANK | HDFC Bank | 1.3% |
| 2317 | Hon Hai Precision | 1.2% |
| INFY | Infosys Ltd. | 0.9% |
| VALE3 | Vale SA | 0.8% |
| PBR | Petrobras | 0.8% |
| ICICIBANK | ICICI Bank | 0.8% |
Fund Details
Investment Thesis
The AI supply chain runs through Taipei and Seoul, and EMXC is how allocators own it while sidestepping Beijing regulatory shocks and delisting risk. The formula produced a spectacular trailing year — Korea and Taiwan led global markets — and pulled in over $11B of new assets. The flip side of removing China: nearly a quarter of the fund is one stock's ecosystem (TSMC), so concentration risk replaces policy risk.
Who It's For
EM investors who have made a deliberate decision about China — either excluding it on governance grounds or holding it separately in a dedicated fund. Also a focused way to own the Asian semiconductor complex.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $48.57 | -- |
| 2018 | $40.80 | -16.0% |
| 2019 | $48.55 | +19.0% |
| 2020 | $57.29 | +18.0% |
| 2021 | $61.88 | +8.0% |
| 2022 | $48.26 | -22.0% |
| 2023 | $56.95 | +18.0% |
| 2024 | $59.23 | +4.0% |
| 2025 | $77.00 | +30.0% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | 1.90% |
| 2018 | 2.40% |
| 2019 | 2.40% |
| 2020 | 1.80% |
| 2021 | 2.10% |
| 2022 | 2.90% |
| 2023 | 2.60% |
| 2024 | 2.40% |
| 2025 | 2.10% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $0.1B | -- |
| 2018 | $0.2B | +100.0% |
| 2019 | $0.3B | +50.0% |
| 2020 | $1B | +233.3% |
| 2021 | $2B | +100.0% |
| 2022 | $3B | +50.0% |
| 2023 | $7B | +133.3% |
| 2024 | $12B | +71.4% |
| 2025 | $18B | +50.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related Intl & Global ETFs
Markets. Intelligence. Daily.
Full briefs on 251 ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →