Overview
Emerging-market large companies weighted by sales, cash flow and dividends instead of market cap — the RAFI value discipline applied where prices are noisiest.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| 2330 | Taiwan Semiconductor | 5.4% |
| 005930 | Samsung Electronics | 3.6% |
| BABA | Alibaba Group | 3.1% |
| 700 | Tencent Holdings | 2.8% |
| 939 | China Construction Bank | 2.4% |
| RELIANCE | Reliance Industries | 1.9% |
| PBR | Petrobras | 1.8% |
| VALE3 | Vale SA | 1.6% |
| 601398 | ICBC | 1.4% |
| 000660 | SK Hynix | 1.3% |
Fund Details
Investment Thesis
Emerging markets are where cap-weighting misleads most — state banks trade at three times earnings while story stocks trade at fifty — and FNDE's fundamental weights systematically buy the cash flows and skip the hype. A +26% year with a 3.5% yield shows the formula working through the EM revival. The value tilt runs deeper than broad EM funds: more banks and energy, less speculative tech.
Who It's For
EM investors who want the asset class priced on fundamentals rather than sentiment, and income-minded globalists drawn to the yield. Completes the FNDX/FNDF/FNDA fundamental family.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $16.87 | -- |
| 2017 | $21.76 | +29.0% |
| 2018 | $18.93 | -13.0% |
| 2019 | $21.77 | +15.0% |
| 2020 | $22.86 | +5.0% |
| 2021 | $24.46 | +7.0% |
| 2022 | $21.04 | -14.0% |
| 2023 | $24.19 | +15.0% |
| 2024 | $26.61 | +10.0% |
| 2025 | $33.00 | +24.0% |
| Year | Yield |
|---|---|
| 2016 | 2.80% |
| 2017 | 2.60% |
| 2018 | 3.20% |
| 2019 | 3.30% |
| 2020 | 2.50% |
| 2021 | 3.10% |
| 2022 | 4.20% |
| 2023 | 3.90% |
| 2024 | 3.70% |
| 2025 | 3.50% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $1B | -- |
| 2017 | $2B | +100.0% |
| 2018 | $2.5B | +25.0% |
| 2019 | $3.5B | +40.0% |
| 2020 | $3.5B | +0.0% |
| 2021 | $4.5B | +28.6% |
| 2022 | $4.5B | +0.0% |
| 2023 | $5.5B | +22.2% |
| 2024 | $7B | +27.3% |
| 2025 | $9.5B | +35.7% |
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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