VWO vs. DBEM ETF Comparison

Comparison of Vanguard FTSE Emerging Markets ETF (VWO) to db-X trackers MSCI Emerging Markets Hedged Equity Fund (DBEM)

VWO

Vanguard FTSE Emerging Markets ETF

VWO Description

The investment seeks to track the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries. The fund employs an indexing investment approach by investing substantially all (approximately 95%) of its assets in the common stocks included in the FTSE Emerging Index, while employing a form of sampling to reduce risk. The FTSE Emerging Index includes approximately 851 common stocks of companies located in emerging markets around the world. As of May 31, 2013, the largest markets covered in the index were China, Brazil, Taiwan, and India.

Grade (RS Rating)

Last Trade

$45.30

Average Daily Volume

8,119,155

Number of Holdings ^*

* may have additional holdings in another (foreign) market

DBEM

db-X trackers MSCI Emerging Markets Hedged Equity Fund

DBEM Description

The investment seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI EM US Dollar Hedged Index (the "underlying index"). The fund will normally invest at least 80% of its net assets in the equity securities of issuers from emerging markets countries and in instruments designed to hedge against the fund's exposure to non-U.S. currencies. The index is designed to provide exposure to equity securities in the global emerging markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and selected emerging market currencies. It is non-diversified.

Grade (RS Rating)

Last Trade

$25.42

Average Daily Volume

9,184

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	VWO	DBEM
30 Days	-3.89%	-2.54%
60 Days	-0.80%	0.24%
90 Days	0.80%	0.97%
12 Months	15.22%	14.86%

39 Overlapping Holdings

Symbol	Grade	Weight in VWO	Weight in DBEM	Overlap
ABEV	F	0.11%	0.11%	0.11%
ASAI	F	0.07%	0.09%	0.07%
ASAI	F	0.0%	0.09%	0.0%
ATHM	D	0.02%	0.03%	0.02%
ATHM	D	0.0%	0.03%	0.0%
BABA	D	2.32%	2.06%	2.06%
BCH	F	0.06%	0.07%	0.06%
BEKE	D	0.15%	0.16%	0.15%
BGNE	D	0.14%	0.13%	0.13%
BIDU	F	0.28%	0.29%	0.28%
BILI	D	0.07%	0.05%	0.05%
BRFS	D	0.03%	0.03%	0.03%
BZ	F	0.05%	0.04%	0.04%
CHT	D	0.04%	0.17%	0.04%
CHT	D	0.12%	0.17%	0.12%
CSAN	F	0.03%	0.03%	0.03%
ERJ	B	0.01%	0.08%	0.01%
ERJ	B	0.06%	0.08%	0.06%
GGB	C	0.04%	0.06%	0.04%
GGB	C	0.0%	0.06%	0.0%
HDB	C	1.29%	1.03%	1.03%
IBN	C	0.66%	0.94%	0.66%
IQ	F	0.01%	0.01%	0.01%
LI	F	0.15%	0.17%	0.15%
NIO	F	0.07%	0.08%	0.07%
PDD	F	0.95%	0.96%	0.95%
QFIN	B	0.04%	0.04%	0.04%
SBSW	D	0.04%	0.04%	0.04%
TAL	F	0.05%	0.06%	0.05%
TCOM	B	0.4%	0.4%	0.4%
TME	D	0.09%	0.11%	0.09%
UMC	F	0.04%	0.19%	0.04%
UMC	F	0.14%	0.19%	0.14%
VALE	F	0.46%	0.4%	0.4%
VIPS	F	0.05%	0.06%	0.05%
WIT	A	0.02%	0.11%	0.02%
WIT	A	0.08%	0.11%	0.08%
XPEV	C	0.08%	0.1%	0.08%
YUMC	C	0.19%	0.23%	0.19%

VWO Overweight 42 Positions Relative to DBEM

Symbol	Grade	Weight
YMM	C	0.07%
ITUB	F	0.06%
RDY	F	0.03%
CIB	B	0.03%
SGRP	D	0.02%
ATAT	C	0.02%
SBS	B	0.02%
CAR	C	0.02%
GDS	C	0.02%
EC	D	0.01%
DDL	C	0.01%
CIG	C	0.01%
WB	D	0.01%
IMOS	F	0.01%
EH	F	0.01%
CSIQ	F	0.01%
BSAC	F	0.01%
FINV	B	0.01%
ELP	F	0.01%
YY	C	0.01%
DQ	F	0.01%
MOMO	D	0.01%
JKS	F	0.01%
AKO.A	F	0.01%
BSBR	F	0.01%
BBD	D	0.01%
RLX	C	0.01%
ENIC	D	0.0%
BAOS	F	0.0%
JEWL	F	0.0%
HUYA	F	0.0%
BAK	F	0.0%
DADA	F	0.0%
EBR	F	0.0%
DAO	B	0.0%
CAN	C	0.0%
AZUL	F	0.0%
SOHU	F	0.0%
SID	F	0.0%
VNET	B	0.0%
SQM	F	0.0%
GOTU	F	0.0%

VWO Underweight 14 Positions Relative to DBEM

Symbol	Grade	Weight
NU	C	-0.5%
KB	B	-0.3%
SHG	D	-0.2%
BAP	A	-0.15%
SCCO	F	-0.11%
HTHT	D	-0.08%
XP	F	-0.07%
KEP	B	-0.05%
SKM	D	-0.03%
BVN	F	-0.03%
STNE	F	-0.03%
LEGN	F	-0.03%
PAGS	F	-0.02%
LPL	F	-0.02%