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
1.3 B
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) | $1,281 |
| 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 | 10.8 % |
| TENCENT HOLDINGS LTD | 4.9 % |
| ALIBABA GROUP HOLDING LTD. | 3.7 % |
| SAMSUNG ELECTRONICS CO LTD | 3.5 % |
| HYNIX SEMICONDUCTOR INC | 1.4 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.2 % |
| CHINA CONSTRUCTION BANK-H | 1.1 % |
| MEDIATEK INC | 0.8 % |
| HON HAI PRECISION INDUSTRY | 0.8 % |
| HDFC BANK LIMITED | 0.8 % |
Constituent Breakdown
| Number of holdings | 581 |
| Herfindahl-Hirschman Index | 194 |
| Wgt avg mkt cap (mns) | $232,041 |
| Large cap (>$10bn) | 65.6% |
| Mid cap ($2-10bn) | 20.6% |
| Small cap (<$2bn) | 0.9% |
| Developed mkts. | 2.0% |
| Emerging mkts. | 87.6% |
Country Exposure
 |
CHINA | 21.9 % |
 |
TAIWAN | 20.2 % |
 |
INDIA | 14.2 % |
 |
SOUTH KOREA | 13.2 % |
 |
BRAZIL | 3.4 % |
 |
UAE | 2.3 % |
 |
SAUDI ARABIA | 1.8 % |
 |
SOUTH AFRICA | 1.7 % |
 |
MEXICO | 1.3 % |
 |
POLAND | 1.1 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 29.9% | 22.3% | 21.7% | 15.6% | 6.1% | -- | -- | 5.8% |
| Dividend Yield | 0.0% | 0.0% | 3.6% | 3.8% | 3.1% | -- | -- | 2.7% |
| Total Returns | 29.9% | 22.3% | 25.3% | 19.4% | 9.1% | -- | -- | 8.5% | Ann. Volatility | 18.0% | 17.8% | 16.4% | 16.1% | 16.9% | -- | -- | 20.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 48% |
| MSCI EAFE | 0.66 | 44% |
| MSCI Emg Mkts | 0.70 | 57% |
Liquidity Measures
| Avg. volume (000) | 59 |
| ADV traded (mns) | $3 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.18% |
Technical Indicators
| Recent close | $58.75 |
| 30d moving avg. | $57.34 |
| Annualized volatility | 14.8% |
| Relative strength (RSI) | 61 |
| Short interest | 0.2% |
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. |
|---|---|---|---|---|
| GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 58.5% | +20 bp | +9.3% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 58.0% | -14 bp | +9.0% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 58.0% | -10 bp | +9.2% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 57.5% | +11 bp | +8.7% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 57.3% | +41 bp | +8.6% |
| EEM | iShares MSCI Emerging Markets ETF | 56.9% | +44 bp | +9.1% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 56.0% | +5 bp | +9.2% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 54.5% | +24 bp | +8.6% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 53.6% | -6 bp | +8.1% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 53.3% | +24 bp | +9.2% |
Risk and Returns: EMGF 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 11/3/2025
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
10.4%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 126 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
2.6%. EMGF's ALTAR Score™ is approximately
1.1 standard deviations
above
the category average. This places EMGF in the 86th 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 | 98 |
| Avg. Expense Ratio | 64.7 bp |
| Std. Deviation | 29.4 bp |
| EMGF (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 | 17.6 | 42.6 |
| Peer Avg. | 64.7 | 41.8 | 106.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .