EMGF
iShares Emerging Markets Equity Factor ETF
The iShares Edge MSCI Multifactor Emerging Markets ETF tracks an index of large- and midcap emerging market firms. Stocks are selected and weighted to increase exposure to 4 factors (quality, value, momentum and small size) while maintaining similar characteristics to the MSCI Emerging Markets Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
915.2 M
ASSETS UNDER MGMT
25 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 08, 2015 |
| Assets (mns) | $915 |
| Expense ratio | 25 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Multi-Factor |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 9.6 % |
| TENCENT HOLDINGS LTD | 4.4 % |
| SAMSUNG ELECTRONICS CO LTD | 2.6 % |
| ALIBABA GROUP HOLDING LTD. | 2.6 % |
| CHINA CONSTRUCTION BANK-H | 1.4 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.1 % |
| MEITUAN DIANPING | 1.1 % |
| ICICI BANK LTD | 1.0 % |
| HDFC BANK LIMITED | 0.9 % |
| MEDIATEK INC | 0.9 % |
Constituent Breakdown
| Number of holdings | 584 |
| Herfindahl-Hirschman Index | 151 |
| Wgt avg mkt cap (mns) | $122,858 |
| Large cap (>$10bn) | 60.8% |
| Mid cap ($2-10bn) | 24.7% |
| Small cap (<$2bn) | 1.9% |
| Developed mkts. | 2.0% |
| Emerging mkts. | 87.4% |
Country Exposure
 |
CHINA | 21.8 % |
 |
TAIWAN | 18.9 % |
 |
INDIA | 16.2 % |
 |
SOUTH KOREA | 12.1 % |
 |
BRAZIL | 3.3 % |
 |
SAUDI ARABIA | 2.0 % |
 |
SOUTH AFRICA | 1.7 % |
 |
UAE | 1.7 % |
 |
MEXICO | 1.5 % |
 |
HONG KONG | 1.2 % |
Historical Performance
Standardized Performance (as of 05/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 9.1% | 7.2% | 10.7% | 1.9% | 5.3% | -- | -- | 4.2% |
| Dividend Yield | 0.0% | 0.9% | 3.8% | 3.7% | 3.3% | -- | -- | 2.8% |
| Total Returns | 9.1% | 8.1% | 14.5% | 5.6% | 8.6% | -- | -- | 6.9% | Ann. Volatility | 21.9% | 19.4% | 16.6% | 16.9% | 17.4% | -- | -- | 20.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.69 | 49% |
| MSCI EAFE | 0.74 | 59% |
| MSCI Emg Mkts | 0.90 | 88% |
Liquidity Measures
| Avg. volume (000) | 66 |
| ADV traded (mns) | $3 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.17% |
Technical Indicators
| Recent close | $52.00 |
| 30d moving avg. | $50.02 |
| Annualized volatility | 16.6% |
| Relative strength (RSI) | 56 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | 55.7% | +44 bp | +10.3% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 54.3% | +5 bp | +10.4% |
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 54.1% | +20 bp | +10.5% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 53.4% | +24 bp | +10.1% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 53.2% | -10 bp | +10.4% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 53.0% | -14 bp | +10.0% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 53.0% | +41 bp | +9.9% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 52.5% | +11 bp | +9.8% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 51.9% | +45 bp | +9.3% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 51.4% | -16 bp | +10.5% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 6/27/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
EMGF
12.0%
Cat. Avg
8.2%
ALTAR Score™ Calculation
Category Overview
There are 118 funds in the Emerging Equity category, with an average ALTAR Score™
of 8.2% and a standard deviation of
2.6%. EMGF's ALTAR Score™ is approximately
1.5 standard deviations
above
the category average. This places EMGF in the 94th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
EMGFSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| (25 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| EMGF | 25.0 | 0.0 | 25 |
| Peer Avg. | 47.5 | 42.4 | 89.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .