Overview
Three and a half thousand emerging-market small caps, none above 0.3% of the fund — the local economies of the developing world at maximum granularity.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| CASH | SSI US Gov Money Market | 0.3% |
| 6278 | Taiwan Surface Mounting | 0.2% |
| 1815 | Fulltech Fiber Glass | 0.2% |
| 1368 | Xtep International | 0.2% |
| 8021 | Topoint Technology | 0.2% |
| FFB | Fortress Real Estate | 0.2% |
| ADH | ADvTECH | 0.2% |
| AVI | AVI Limited | 0.2% |
| SAPR11 | Sanepar | 0.2% |
| ALPEK.A | ALPEK SAB | 0.2% |
Fund Details
Investment Thesis
The most diversified single equity fund most investors will ever see: 3,553 names mean EWX is a pure bet on EM domestic growth itself, immune to any company, sector or single market blowing up. Small caps sell to their own rising middle classes rather than to global trade, and +4.5% in a consolidation year understates the asset class's re-rating potential — EM small value remains among the cheapest equity categories on earth.
Who It's For
Patient EM allocators who want the domestic-demand story at maximum breadth — thousands of local businesses instead of the index's exporters and banks.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $39.72 | -- |
| 2017 | $52.00 | +30.9% |
| 2018 | $40.97 | -21.2% |
| 2019 | $46.06 | +12.4% |
| 2020 | $51.63 | +12.1% |
| 2021 | $59.31 | +14.9% |
| 2022 | $48.94 | -17.5% |
| 2023 | $56.46 | +15.4% |
| 2024 | $58.61 | +3.8% |
| 2025 | $65.66 | +12.0% |
| Year | Yield |
|---|---|
| 2016 | 2.45% |
| 2017 | 2.45% |
| 2018 | 3.12% |
| 2019 | 2.82% |
| 2020 | 2.45% |
| 2021 | 2.85% |
| 2022 | 3.01% |
| 2023 | 2.40% |
| 2024 | 2.89% |
| 2025 | 3.07% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.3B | -- |
| 2017 | $0.4B | +33.3% |
| 2018 | $0.3B | -25.0% |
| 2019 | $0.4B | +33.3% |
| 2020 | $0.4B | +0.0% |
| 2021 | $0.5B | +25.0% |
| 2022 | $0.4B | -20.0% |
| 2023 | $0.5B | +25.0% |
| 2024 | $0.5B | +0.0% |
| 2025 | $0.6B | +20.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
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