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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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