PIMCO RAFI Dynamic Multi-Factor Emerging… (MFEM) Holdings
MFEM holdings summary
as of Oct 25, 2026- Holdings
- 591 positions listed
- Top 10 weight
- 18.5% of net assets
- Effective holdings
- 129 equal-weight equivalent
- Largest holding
- 3711 2.62% ASE Industrial Holding Co Ltd
- Annual turnover
- 52.5% of the portfolio traded
Top 1018.5%
Top 2533.5%
Top 5046.8%
Top 10062.4%
Top 25081.4%
All MFEM holdings
574 holdings
| # | Name | ||||||
|---|---|---|---|---|---|---|---|
| 1 | 3711 | ASE Industrial Holding Co Ltd | Technology | 2.62% | $3.8M | — | — |
| 2 | 2454 | MediaTek Inc | Technology | 2.59% | $3.8M | — | — |
| 3 | 1303 | Nan Ya Plastics Corp | Basic Materials | 2.33% | $3.4M | — | — |
| 4 | 2308 | Delta Electronics Inc | Technology | 1.98% | $2.9M | — | — |
| 5 | PETR4 | Petróleo Brasileiro S.A. - Petrobras | Energy | 1.79% | $2.6M | — | — |
| 6 | 005380 | Hyundai Motor Co. Ltd. | Consumer Cyclical | 1.69% | $2.5M | — | — |
| 7 | 009150 | Samsung Electro-Mechanics | Technology | 1.60% | $2.3M | — | — |
| 8 | 2330 | Taiwan Semiconductor Manufacturing Co. Ltd. | Technology | 1.32% | $1.9M | — | — |
| 9 | 2303 | United Microelectronics Corporation | Technology | 1.28% | $1.9M | — | — |
| 10 | 0992 | Lenovo Group | Technology | 1.27% | $1.9M | — | — |
| 11 | 3037 | Unimicron Technology Corp | Technology | 1.26% | $1.9M | — | — |
| 12 | 2317 | Hon Hai Precision Industry Co Ltd | Technology | 1.24% | $1.8M | — | — |
| 13 | PTOG | PTT Public Company Limited | Energy | 1.20% | $1.8M | — | — |
| 14 | 066570 | LG Electronics Inc | Technology | 1.16% | $1.7M | — | — |
| 15 | 0939 | China Construction Bank Corp | Financial Services | 1.12% | $1.6M | — | — |
| 16 | SSNLF | Samsung Electronics Co Ltd | Technology | 1.10% | $1.6M | — | — |
| 17 | 000660 | SK Hynix Inc | Technology | 1.03% | $1.5M | — | — |
| 18 | 1398 | Industrial and Commercial Bank of China | Financial Services | 0.98% | $1.4M | — | — |
| 19 | 3988 | Bank of China Ltd H | Financial Services | 0.93% | $1.4M | — | — |
| 20 | 4958 | Zhen Ding Technology Holding Ltd | Technology | 0.90% | $1.3M | — | — |
| 21 | 3481 | Innolux Corp | Technology | 0.87% | $1.3M | — | — |
| 22 | 0857 | PetroChina Company Limited | Energy | 0.87% | $1.3M | — | — |
| 23 | 2318 | Ping An Insurance | Financial Services | 0.81% | $1.2M | — | — |
| 24 | VALE3 | Vale S.A. | Basic Materials | 0.80% | $1.2M | — | — |
| 25 | 2383 | Elite Material Co Ltd | Technology | 0.75% | $1.1M | — | — |
| 26 | 2327 | Yageo Corp | Technology | 0.73% | $1.1M | — | — |
| 27 | 005490 | POSCO Holdings | Basic Materials | 0.68% | $992,586.68 | — | — |
| 28 | 9999 | NetEase Inc | Communication Services | 0.67% | $989,652.21 | — | — |
| 29 | 1288 | Agricultural Bank Of China | Financial Services | 0.66% | $969,991.21 | — | — |
| 30 | 012330 | Hyundai Mobis Co.,Ltd | Consumer Cyclical | 0.60% | $878,435.55 | — | — |
| 31 | 2357 | Asustek Computer Inc | Technology | 0.59% | $872,860.04 | — | — |
| 32 | 006400 | Samsung SDI | Industrials | 0.59% | $872,566.59 | — | — |
| 33 | 2345 | Accton Technology Corp | Technology | 0.58% | $853,639.22 | — | — |
| 34 | 2301 | Lite-On Technology Corp | Technology | 0.54% | $798,471.06 | — | — |
| 35 | 0386 | China Petroleum & Chemical Corp Class H | Energy | 0.53% | $779,690.41 | — | — |
| 36 | 1290 | China Huirong Financials Hldgs | Financial Services | 0.53% | $773,674.73 | — | — |
| 37 | 6669 | Wiwynn Corp | Technology | 0.52% | $766,925.44 | — | — |
| 38 | 055550 | Shinhan Financial Group | Financial Services | 0.51% | $748,878.41 | — | — |
| 39 | 1088 | China Shenhua Energy Co Ltd H | Energy | 0.50% | $737,874.12 | — | — |
| 40 | 034730 | SK Holdings Co Ltd | Industrials | 0.50% | $731,565.00 | — | — |
| 41 | TFBF | Kasikornbank Public Company Limited | Financial Services | 0.49% | $719,093.47 | — | — |
| 42 | 1378 | China Hongqiao Group Ltd | Basic Materials | 0.48% | $700,606.27 | — | — |
| 43 | 2408 | Nanya Technology Corp | Technology | 0.48% | $699,725.93 | — | — |
| 44 | 1326 | Formosa Chemicals & Fibre Corp | Basic Materials | 0.47% | $693,710.25 | — | — |
| 45 | YUMC | Yum China Holdings, Inc. | Consumer Cyclical | 0.47% | $683,586.31 | $15.22B | 16.5 |
| 46 | 000270 | Kia Corp | Consumer Cyclical | 0.44% | $639,569.16 | — | — |
| 47 | 2344 | Winbond Electronics Corp | Technology | 0.43% | $633,993.65 | — | — |
| 48 | 000150 | Doosan Corp. | Industrials | 0.42% | $620,641.78 | — | — |
| 49 | DLS | Delta Electronics (Thailand) Public Company Limited | Industrials | 0.42% | $618,440.93 | — | — |
| 50 | 2887 | Taishin Financial Holding Co Ltd | Financial Services | 0.42% | $617,707.31 | — | — |
| 51 | AMXL | América Móvil S.A.B. de C.V. | Technology | 0.41% | $598,046.31 | — | — |
| 52 | 2600 | Aluminum Corp of China Ltd | Basic Materials | 0.39% | $568,995.00 | — | — |
| 53 | GMEXICOB | Grupo México S.A.B. de C.V | Basic Materials | 0.39% | $568,995.00 | — | — |
| 54 | 2881 | Fubon Financial Holding Co Ltd | Financial Services | 0.39% | $567,821.21 | — | — |
| 55 | 6239 | Powertech Technology Inc | Technology | 0.38% | $564,446.56 | — | — |
| 56 | 600519 | Kweichow Moutai Co Ltd | Consumer Defensive | 0.38% | $562,832.60 | — | — |
| 57 | 015760 | Korea Electric Power Corp | Utilities | 0.38% | $562,098.98 | — | — |
| 58 | SOL | Sasol Ltd | Basic Materials | 0.37% | $549,627.45 | — | — |
| 59 | 0358 | Jiangxi Copper | Basic Materials | 0.36% | $534,661.62 | — | — |
| 60 | 1171 | Yankuang Energy Group Co Ltd HK | Energy | 0.36% | $534,661.62 | — | — |
| 61 | SGL | Sibanye Stillwater Limited | Other | 0.36% | $523,804.06 | — | — |
| 62 | 2603 | Evergreen Marine Corp Taiwan Ltd | Industrials | 0.36% | $523,363.89 | — | — |
| 63 | 2412 | Chunghwa Telecom Co | Communication Services | 0.35% | $516,908.04 | — | — |
| 64 | 1919 | COSCO SHIPPING Holdings Co Ltd H | Industrials | 0.35% | $512,506.32 | — | — |
| 65 | 2388 | BOC Hong Kong Holdings Ltd | Financial Services | 0.33% | $487,123.10 | — | — |
| 66 | 000810 | Samsung Fire & Marine Insurance | Financial Services | 0.33% | $484,041.90 | — | — |
| 67 | AMS | Anglo American Platinum Ltd | Basic Materials | 0.33% | $482,281.22 | — | — |
| 68 | 2409 | AU Optronics | Technology | 0.33% | $481,841.04 | — | — |
| 69 | 316140 | Woori Financial Group Inc | Financial Services | 0.33% | $479,200.02 | — | — |
| 70 | 3968 | China Merchants Bank Co Ltd Class H | Financial Services | 0.33% | $478,466.40 | — | — |
| 71 | VBBR3 | Vibra Energia S.A. | Consumer Cyclical | 0.33% | $478,026.23 | — | — |
| 72 | 3328 | Bank of Communications Co Ltd | Financial Services | 0.32% | $463,207.12 | — | — |
| 73 | 2222 | Saudi Aramco | Energy | 0.31% | $461,006.26 | — | — |
| 74 | 086790 | Hana Financial | Financial Services | 0.31% | $457,778.34 | — | — |
| 75 | 600900 | China Yangtze Power Co Ltd | Utilities | 0.31% | $453,523.35 | — | — |
| 76 | 2885 | Yuanta Financial Holdings Co Ltd | Financial Services | 0.31% | $453,523.35 | — | — |
| 77 | 8046 | Nan Ya Printed Circuit Board Corp | Technology | 0.30% | $446,040.43 | — | — |
| 78 | FN | Fabrinet | Technology | 0.30% | $442,372.34 | $13.03B | 27.9 |
| 79 | 2324 | Compal Electronics Inc | Technology | 0.30% | $439,437.86 | — | — |
| 80 | GGBR4 | Gerdau S.A | Basic Materials | 0.30% | $438,117.34 | — | — |
| 81 | 2899 | Zijin Mining Group Co Ltd-H | Basic Materials | 0.30% | $436,063.21 | — | — |
| 82 | UGPA3 | Ultrapar Participações S.A | Energy | 0.29% | $427,846.68 | — | — |
| 83 | SIMO | Silicon Motion Technology Corporation | Technology | 0.29% | $427,699.95 | $7.16B | 27.3 |
| 84 | 017670 | SK Telecom Co Ltd | Communication Services | 0.29% | $424,765.48 | — | — |
| 85 | GCB | PTT Global Chemical Public Company Limited | Basic Materials | 0.28% | $412,147.23 | — | — |
| 86 | 2359 | WuXi AppTec Co Ltd H | Healthcare | 0.28% | $411,413.61 | — | — |
| 87 | 3036 | WT Microelectronics Co Ltd | Technology | 0.28% | $408,038.96 | — | — |
| 88 | INFY | Infosys Limited | Technology | 0.27% | $402,316.73 | — | — |
| 89 | 1301 | Formosa Plastics Corp | Basic Materials | 0.27% | $402,170.01 | — | — |
| 90 | 2382 | Quanta Computer Inc | Technology | 0.27% | $389,258.31 | — | — |
| 91 | TCS | Tata Consultancy Services Limited | Technology | 0.26% | $386,030.39 | — | — |
| 92 | 2883 | China Development Financial Holding Corp | Financial Services | 0.26% | $380,161.43 | — | — |
| 93 | GFI | Gold Fields Ltd | Basic Materials | 0.26% | $379,867.99 | — | — |
| 94 | 096770 | SK Innovation | Energy | 0.26% | $378,840.92 | — | — |
| 95 | 3231 | Wistron Corp | Technology | 0.26% | $378,254.02 | — | — |
| 96 | FSR | Firstrand Ltd | Financial Services | 0.26% | $374,292.48 | — | — |
| 97 | 2628 | China Life Insurance Co Ltd | Financial Services | 0.25% | $362,114.40 | — | — |
| 98 | 000333 | Midea Group Co Ltd | Consumer Cyclical | 0.25% | $361,820.95 | — | — |
| 99 | 000720 | Hyundai Engineering & Construction | Industrials | 0.24% | $356,832.34 | — | — |
| 100 | 601166 | Industrial Bank Co Ltd | Financial Services | 0.24% | $351,110.12 | — | — |
| 101 | FEMSAUBD | Fomento Económico Mexicano S.A.B. de C.V | Consumer Defensive | 0.23% | $344,654.27 | — | — |
| 102 | 3702 | WPG Holdings Ltd | Technology | 0.23% | $343,773.92 | — | — |
| 103 | 010950 | S-Oil Corp | Energy | 0.23% | $335,557.39 | — | — |
| 104 | MTN | MTN Group Ltd | Communication Services | 0.23% | $332,622.91 | — | — |
| 105 | AISF | Advanced Info Service Public Company Limited | Communication Services | 0.23% | $331,302.40 | — | — |
| 106 | BHARTIARTL | Bharti Airtel Limited | Communication Services | 0.22% | $323,966.21 | — | — |
| 107 | 6505 | Formosa Petrochemical Corp | Energy | 0.21% | $315,162.78 | — | — |
| 108 | 1216 | Uni-President Enterprises Corp | Consumer Defensive | 0.21% | $306,506.07 | — | — |
| 109 | 032830 | Samsung Life | Financial Services | 0.21% | $304,892.11 | — | — |
| 110 | 2337 | Macronix International Co Ltd | Technology | 0.21% | $304,305.22 | — | — |
| 111 | 0998 | China Citic Bank Corp Ltd | Financial Services | 0.21% | $303,571.60 | — | — |
| 112 | 033780 | KT&G Corp | Consumer Defensive | 0.21% | $303,278.15 | — | — |
| 113 | 2313 | Compeq Manufacturing Co Ltd | Technology | 0.20% | $295,941.96 | — | — |
| 114 | 300750 | Contemporary Amperex Technology Co Ltd Class A | Industrials | 0.19% | $280,829.40 | — | — |
| 115 | B3SA3 | B3 S.A. - Brasil Bolsa Balcão | Financial Services | 0.19% | $279,068.72 | — | — |
| 116 | ZTO | ZTO Express (Cayman) Inc. | Industrials | 0.19% | $278,628.55 | $15.08B | 11.0 |
| 117 | 047040 | Daewoo Engineering & Construction | Industrials | 0.19% | $278,041.65 | — | — |
| 118 | 086280 | Hyundai Glovis | Industrials | 0.19% | $272,906.32 | — | — |
| 119 | 2319 | China Mengniu Dairy Co | Consumer Defensive | 0.18% | $268,504.60 | — | — |
| 120 | 0914 | Anhui Conch Cement | Basic Materials | 0.18% | $266,010.30 | — | — |
| 121 | SUZB3 | Suzano S.A. | Basic Materials | 0.18% | $261,902.03 | — | — |
| 122 | 601225 | Shaanxi Coal Industry Co Ltd | Energy | 0.18% | $261,755.31 | — | — |
| 123 | IMP | Impala Platinum Holdings Ltd | Basic Materials | 0.17% | $254,272.39 | — | — |
| 124 | 0688 | China Overseas | Real Estate | 0.17% | $252,951.88 | — | — |
| 125 | VEDL | Vedanta Limited | Basic Materials | 0.17% | $252,658.43 | — | — |
| 126 | 600919 | Bank of Jiangsu Co Ltd | Financial Services | 0.17% | $250,751.02 | — | — |
| 127 | 2886 | Mega Financial Holding Co Ltd | Financial Services | 0.17% | $250,751.02 | — | — |
| 128 | TCM1 | The Siam Cement Public Company Limited | Industrials | 0.17% | $245,322.24 | — | — |
| 129 | 3008 | LARGAN Precision Co Ltd | Technology | 0.17% | $245,028.79 | — | — |
| 130 | LQZ | Thai Oil Public Company Limited | Energy | 0.16% | $241,947.59 | — | — |
| 131 | 3044 | Tripod Technology Corp | Technology | 0.16% | $241,654.14 | — | — |
| 132 | 1988 | China Minsheng Banking | Financial Services | 0.16% | $237,692.60 | — | — |
| 133 | 4938 | Pegatron Corp | Technology | 0.16% | $237,252.43 | — | — |
| 134 | 078930 | GS Holdings | Industrials | 0.16% | $232,850.71 | — | — |
| 135 | 3993 | CMOC Group Ltd | Basic Materials | 0.16% | $232,263.82 | — | — |
| 136 | HCLTECH | HCL Technologies Limited | Technology | 0.15% | $226,835.03 | — | — |
| 137 | 3034 | Novatek Microelectronics Corp | Technology | 0.15% | $226,101.42 | — | — |
| 138 | TX3A | Airports of Thailand Public Company Limited | Industrials | 0.15% | $225,367.80 | — | — |
| 139 | 003550 | LG Corp | Technology | 0.15% | $222,726.77 | — | — |
| 140 | BKKF | Bangkok Bank Public Company Limited | Financial Services | 0.15% | $221,259.53 | — | — |
| 141 | ONGC | Oil & Natural Gas Corporation Limited | Energy | 0.15% | $217,884.88 | — | — |
| 142 | 2356 | Inventec Corp | Technology | 0.15% | $217,738.16 | — | — |
| 143 | 2609 | Yang Ming Marine Transport Corp | Industrials | 0.15% | $217,004.54 | — | — |
| 144 | 011070 | LG Innotek Co Ltd | Technology | 0.15% | $215,390.58 | — | — |
| 145 | 2379 | Realtek Semiconductor Corp | Technology | 0.15% | $213,043.00 | — | — |
| 146 | VIPS | Vipshop Holdings Limited | Consumer Cyclical | 0.14% | $206,440.42 | $6.11B | 4.3 |
| 147 | 002938 | Avary Holding Shenzhen Co Ltd Class A | Technology | 0.14% | $206,293.70 | — | — |
| 148 | 0390 | China Railway | Industrials | 0.14% | $206,146.98 | — | — |
| 149 | 2892 | First Financial Holding Co Ltd | Financial Services | 0.14% | $206,000.25 | — | — |
| 150 | 028050 | Samsung Engineering Co. Ltd. | Industrials | 0.14% | $205,413.36 | — | — |
| 151 | 601138 | Foxconn Industrial Internet Co Ltd | Technology | 0.14% | $205,119.91 | — | — |
| 152 | 2884 | E.SUN Financial Holding Co Ltd | Financial Services | 0.14% | $201,451.81 | — | — |
| 153 | 2002 | China Steel Corp | Basic Materials | 0.14% | $200,424.75 | — | — |
| 154 | BPCL | Bharat Petroleum Corporation Limited | Energy | 0.13% | $196,463.20 | — | — |
| 155 | PKN | Polski Koncern Naftowy ORLEN SA | Energy | 0.13% | $185,605.64 | — | — |
| 156 | POWERGRID | POWER GRID CORPORATION OF INDIA LTD. | Utilities | 0.13% | $184,138.40 | — | — |
| 157 | 2880 | Hua Nan Financial Holdings Co Ltd | Financial Services | 0.13% | $183,991.68 | — | — |
| 158 | 601669 | Power Construction Corp of China Ltd | Industrials | 0.13% | $183,844.95 | — | — |
| 159 | 0267 | Citic Pacific | Industrials | 0.12% | $182,377.72 | — | — |
| 160 | 1295 | Public Bank Bhd | Financial Services | 0.12% | $180,323.58 | — | — |
| 161 | 2890 | Sinopac Financial Holdings Co Ltd | Financial Services | 0.12% | $178,122.72 | — | — |
| 162 | NATIONALUM | National Aluminium Company Limited | Basic Materials | 0.12% | $177,535.83 | — | — |
| 163 | 1155 | Malayan Banking Bhd | Financial Services | 0.12% | $177,242.38 | — | — |
| 164 | 004020 | Hyundai Steel | Basic Materials | 0.12% | $174,454.63 | — | — |
| 165 | 006260 | LS Corp | Industrials | 0.12% | $172,253.77 | — | — |
| 166 | SHP | Shoprite Holdings Ltd | Consumer Cyclical | 0.12% | $170,199.64 | — | — |
| 167 | SBLK | Star Bulk Carriers Corp. | Industrials | 0.12% | $169,025.85 | $3.23B | 10.9 |
| 168 | 024110 | Industrial Bank Of Korea | Financial Services | 0.11% | $162,863.45 | — | — |
| 169 | 2492 | Walsin Technology Corp | Technology | 0.11% | $162,863.45 | — | — |
| 170 | CPOF | Charoen Pokphand Foods Public Company Limited | Consumer Defensive | 0.11% | $162,863.45 | — | — |
| 171 | 267250 | Hyundai Heavy Industries Holdings Co Ltd | Energy | 0.11% | $162,716.72 | — | — |
| 172 | ICT | International Container Terminal Services Inc | Industrials | 0.11% | $162,276.55 | — | — |
| 173 | 0316 | Orient Overseas International Ltd | Industrials | 0.11% | $161,542.93 | — | — |
| 174 | 8112 | Supreme Electronics Co Ltd | Technology | 0.11% | $161,249.48 | — | — |
| 175 | HINDUNILVR | Hindustan Unilever Limited | Consumer Defensive | 0.11% | $160,956.04 | — | — |
| 176 | 034220 | LG Display Co. Ltd. | Technology | 0.11% | $160,956.04 | — | — |
| 177 | 600019 | Baoshan Iron & Steel Co Ltd | Basic Materials | 0.11% | $160,809.31 | — | — |
| 178 | CMIG3 | Companhia Energética de Minas Gerais - CEMIG | Utilities | 0.11% | $158,315.01 | — | — |
| 179 | BSANTANDER | Banco Santander Chile | Financial Services | 0.11% | $158,168.28 | — | — |
| 180 | 002714 | Muyuan Foodstuff Co Ltd | Consumer Defensive | 0.11% | $157,874.84 | — | — |
| 181 | TECHM | Tech Mahindra Limited | Technology | 0.11% | $157,434.67 | — | — |
| 182 | 0700 | Tencent Holdings Ltd | Communication Services | 0.11% | $157,287.94 | — | — |
| 183 | CHILE | Banco de Chile | Financial Services | 0.11% | $157,287.94 | — | — |
| 184 | 47T | TISCO Financial Group PCL | Financial Services | 0.11% | $157,287.94 | — | — |
| 185 | 0175 | Geely Automobile Holdings Ltd | Consumer Cyclical | 0.11% | $156,554.32 | — | — |
| 186 | 3045 | Taiwan Mobile Co Ltd | Consumer Cyclical | 0.10% | $153,326.40 | — | — |
| 187 | 0966 | China Taiping Insurance Holdings Co Ltd | Financial Services | 0.10% | $153,179.67 | — | — |
| 188 | TLKM | Telkom Indonesia (Persero) Tbk PT | Communication Services | 0.10% | $152,152.61 | — | — |
| 189 | 7010 | Saudi Telecom | Communication Services | 0.10% | $151,859.16 | — | — |
| 190 | GOAU4 | Metalurgica Gerdau S.A | Basic Materials | 0.10% | $150,978.82 | — | — |
| 191 | 1109 | China Resources Land Ltd | Real Estate | 0.10% | $150,685.37 | — | — |
| 192 | 601169 | Bank of Beijing Co Ltd | Financial Services | 0.10% | $150,245.20 | — | — |
| 193 | 051910 | LG Chemicals | Basic Materials | 0.10% | $149,805.03 | — | — |
| 194 | VIVT3 | Telefônica Brasil S.A. | Communication Services | 0.10% | $149,364.85 | — | — |
| 195 | NPN | Naspers Limited | Consumer Cyclical | 0.10% | $149,218.13 | — | — |
| 196 | COALINDIA | Coal India Limited | Energy | 0.10% | $148,777.96 | — | — |
| 197 | HEROMOTOCO | HERO MOTOCORP LTD. | Consumer Cyclical | 0.10% | $148,631.24 | — | — |
| 198 | KGH | KGHM Polska Miedz S.A. | Basic Materials | 0.10% | $146,577.10 | — | — |
| 199 | 600000 | Shanghai Pudong Development Bank Co Ltd | Financial Services | 0.10% | $145,990.21 | — | — |
| 200 | KLBN11 | Klabin S.A. | Basic Materials | 0.10% | $143,495.90 | — | — |
| 201 | 601985 | China National Nuclear Power | Utilities | 0.10% | $143,495.90 | — | — |
| 202 | 4904 | Far EasTone Telecommunications Co Ltd | Communication Services | 0.10% | $143,349.18 | — | — |
| 203 | 9633 | Nongfu Spring Co Ltd | Consumer Defensive | 0.10% | $143,055.73 | — | — |
| 204 | 138040 | Meritz Financi | Financial Services | 0.10% | $142,615.56 | — | — |
| 205 | 3618 | Chongqing Rural Commercial Bank Co Ltd | Financial Services | 0.10% | $142,468.84 | — | — |
| 206 | 2474 | Catcher Technology Co Ltd | Industrials | 0.10% | $142,322.11 | — | — |
| 207 | 2801 | Chang Hwa Commercial Bank Ltd | Financial Services | 0.10% | $142,175.39 | — | — |
| 208 | 000630 | Tongling Nonferrous Metals Group Co Ltd | Basic Materials | 0.10% | $142,175.39 | — | — |
| 209 | TH0264A10Z12 | BANGKOK DUSIT MED SERVICE-F | Other | 0.10% | $142,175.39 | — | — |
| 210 | 2688 | ENN Energy Holdings Ltd | Utilities | 0.10% | $142,028.66 | — | — |
| 211 | NTPC | NTPC Limited | Utilities | 0.10% | $141,881.94 | — | — |
| 212 | 0322 | Tingyi | Consumer Defensive | 0.10% | $141,295.04 | — | — |
| 213 | 2202 | China Vanke Co Ltd | Real Estate | 0.10% | $141,295.04 | — | — |
| 214 | 601229 | Bank of Shanghai Co Ltd | Financial Services | 0.10% | $141,001.60 | — | — |
| 215 | 6818 | China Everbright Bank Co Ltd | Financial Services | 0.10% | $140,267.98 | — | — |
| 216 | 375500 | DL E&C Co Ltd | Industrials | 0.10% | $140,121.25 | — | — |
| 217 | KW0EQ0100085 | KUWAIT FINANCE HOUSE | Other | 0.10% | $139,974.53 | — | — |
| 218 | 1101 | Taiwan Cement Corp | Basic Materials | 0.10% | $139,827.81 | — | — |
| 219 | 161390 | Hankook Tire Co. | Consumer Cyclical | 0.10% | $139,681.08 | — | — |
| 220 | 006360 | GS Engineering & Construction | Industrials | 0.10% | $139,534.36 | — | — |
| 221 | BIMAS | BIM Birlesik Magazalar AS | Consumer Defensive | 0.10% | $139,387.63 | — | — |
| 222 | 000858 | Wuliangye Yibin Co Ltd | Consumer Defensive | 0.10% | $139,387.63 | — | — |
| 223 | HINDPETRO | Hindustan Petroleum Corporation Limited | Energy | 0.09% | $139,240.91 | — | — |
| 224 | 3706 | MiTAC Holdings Corp | Technology | 0.09% | $139,240.91 | — | — |
| 225 | IDEA | Vodafone Idea Limited | Communication Services | 0.09% | $139,094.19 | — | — |
| 226 | 2395 | Advantech Co Ltd | Technology | 0.09% | $138,947.46 | — | — |
| 227 | 601006 | Daqin Railway Co Ltd | Industrials | 0.09% | $138,947.46 | — | — |
| 228 | 600489 | Zhongjin Gold Corp Ltd | Basic Materials | 0.09% | $138,507.29 | — | — |
| 229 | 2601 | China Pacific Insurance | Financial Services | 0.09% | $135,279.37 | — | — |
| 230 | TPIG | IRPC Public Company Limited | Energy | 0.09% | $134,105.58 | — | — |
| 231 | 2347 | Synnex Technology International Corp | Technology | 0.09% | $128,383.35 | — | — |
| 232 | KIFF | Kiatnakin Phatra Bank Public Company Limited | Financial Services | 0.09% | $126,475.94 | — | — |
| 233 | 000880 | Hanwha | Industrials | 0.09% | $125,742.32 | — | — |
| 234 | 3323 | China National Building Material Co Ltd | Basic Materials | 0.08% | $123,541.46 | — | — |
| 235 | 3996 | China Energy Engineering Corp | Industrials | 0.08% | $119,139.75 | — | — |
| 236 | 1605 | Walsin Lihwa Corp | Basic Materials | 0.08% | $118,699.58 | — | — |
| 237 | VOD | Vodacom Group Ltd | Communication Services | 0.08% | $117,965.96 | — | — |
| 238 | SAIL | Steel Authority of India Limited | Basic Materials | 0.08% | $117,379.06 | — | — |
| 239 | BHEL | Bharat Heavy Electricals Limited | Industrials | 0.08% | $116,938.89 | — | — |
| 240 | 1802 | Taiwan Glass Ind Corp | Basic Materials | 0.08% | $116,792.17 | — | — |
| 241 | SHRIRAMFIN | Shriram Finance Limited | Financial Services | 0.08% | $116,058.55 | — | — |
| 242 | EREGL | Eregli Demir ve Celik Fabrikalari TAS | Basic Materials | 0.08% | $115,324.93 | — | — |
| 243 | 600795 | GD Power Development Co Ltd | Utilities | 0.08% | $115,031.48 | — | — |
| 244 | 2020 | SABIC AgriNutrients Co | Basic Materials | 0.08% | $115,031.48 | — | — |
| 245 | 0135 | Kunlun Energy | Energy | 0.08% | $114,884.76 | — | — |
| 246 | 6690 | Haier Smart Home Co Ltd | Consumer Cyclical | 0.08% | $114,738.03 | — | — |
| 247 | 2338 | Weichai Power Co Ltd | Consumer Cyclical | 0.08% | $114,738.03 | — | — |
| 248 | 600104 | SAIC Motor Corp Ltd | Consumer Cyclical | 0.08% | $114,591.31 | — | — |
| 249 | 2039 | China International Marine Containers Group Co Ltd | Industrials | 0.08% | $114,004.41 | — | — |
| 250 | 1023 | CIMB Group Holdings Bhd | Financial Services | 0.08% | $114,004.41 | — | — |
| 251 | 3808 | Sinotruk Hong Kong Ltd | Industrials | 0.08% | $113,857.69 | — | — |
| 252 | 2010 | Saudi Basic Industries Corp | Basic Materials | 0.08% | $113,564.24 | — | — |
| 253 | 2912 | President Chain Store Corp | Consumer Defensive | 0.08% | $113,124.07 | — | — |
| 254 | ASELS | Aselsan Elektronik Sanayi ve Ticaret AS | Industrials | 0.08% | $112,390.45 | — | — |
| 255 | 600926 | Bank of Hangzhou Co Ltd | Financial Services | 0.08% | $112,390.45 | — | — |
| 256 | 2377 | Micro-Star International Co Ltd | Technology | 0.08% | $112,097.00 | — | — |
| 257 | 0270 | Guangdong Investment Ltd | Utilities | 0.08% | $111,656.83 | — | — |
| 258 | 600031 | Sany Heavy Industry Co Ltd | Industrials | 0.08% | $111,656.83 | — | — |
| 259 | 1698 | Tencent Music Entertainment Group | Communication Services | 0.08% | $110,776.49 | — | — |
| 260 | 600256 | Guanghui Energy Co Ltd | Energy | 0.07% | $107,108.39 | — | — |
| 261 | 032640 | LG Uplus | Communication Services | 0.07% | $106,814.95 | — | — |
| 262 | 5347 | Tenaga Nasional Bhd | Utilities | 0.07% | $106,521.50 | — | — |
| 263 | 600096 | Yunnan Yuntianhua Co Ltd | Basic Materials | 0.07% | $106,081.33 | — | — |
| 264 | SUNPHARMA | Sun Pharmaceutical Industries Limited | Healthcare | 0.07% | $105,934.60 | — | — |
| 265 | 5285 | Sime Darby Plantation Bhd | Consumer Defensive | 0.07% | $104,907.54 | — | — |
| 266 | 1504 | TECO Electric & Machinery Co Ltd | Industrials | 0.07% | $104,907.54 | — | — |
| 267 | 600015 | Hua Xia Bank Co Ltd | Financial Services | 0.07% | $104,467.36 | — | — |
| 268 | USIM5 | Usinas Siderúrgicas de Minas Gerais S.A. | Basic Materials | 0.07% | $102,559.95 | — | — |
| 269 | PTTG | PTT Exploration and Production Public Company Limited | Energy | 0.07% | $101,826.34 | — | — |
| 270 | 601009 | Bank of Nanjing Co Ltd | Financial Services | 0.07% | $101,679.61 | — | — |
| 271 | 5876 | Shanghai Commercial & Savings Bank Ltd | Financial Services | 0.07% | $100,945.99 | — | — |
| 272 | LVN | CP ALL Public Company Limited | Other | 0.07% | $100,945.99 | — | — |
| 273 | 139480 | E-Mart | Consumer Defensive | 0.07% | $100,799.27 | — | — |
| 274 | BEKE | KE Holdings Inc. | Real Estate | 0.07% | $100,799.27 | $19.85B | 30.1 |
| 275 | 138930 | BNK Financial Group Inc | Financial Services | 0.07% | $100,505.82 | — | — |
| 276 | ADRO | PT Alamtri Resources Indonesia Tbk | Energy | 0.07% | $100,212.37 | — | — |
| 277 | KW0EQ0100010 | NATIONAL BANK OF KUWAIT | Other | 0.07% | $99,625.48 | — | — |
| 278 | PGE | PGE Polska Grupa Energetyczna SA | Utilities | 0.07% | $99,332.03 | — | — |
| 279 | 2016 | China Zheshang Bank Co Ltd | Financial Services | 0.07% | $99,332.03 | — | — |
| 280 | 0991 | Datang Intl Power Gen Co-H | Utilities | 0.07% | $99,038.58 | — | — |
| 281 | YTAA | SRI TRANG AGR.-FOR- BA 1 | Basic Materials | 0.07% | $99,038.58 | — | — |
| 282 | 7BP | BANGCHAK CORP. -FGN- BA 1 | Energy | 0.07% | $98,745.13 | — | — |
| 283 | 001040 | CJ Corp | Industrials | 0.07% | $98,598.41 | — | — |
| 284 | IOC | Indian Oil Corporation Limited | Energy | 0.07% | $98,451.69 | — | — |
| 285 | 300498 | Guangdong Wens Foodstuff Group Co Ltd | Consumer Defensive | 0.07% | $97,718.07 | — | — |
| 286 | BAJAJ-AUTO | Bajaj Auto Limited | Consumer Cyclical | 0.07% | $96,691.00 | — | — |
| 287 | 8869 | Press Metal Bhd | Basic Materials | 0.06% | $93,756.52 | — | — |
| 288 | AC | Arca Continental S.A.B. de C.V | Consumer Defensive | 0.06% | $93,463.08 | — | — |
| 289 | 1359 | China Cinda Asset Mgmt Co Ltd | Financial Services | 0.06% | $93,316.35 | — | — |
| 290 | MOH | Motor Oil (Hellas) Corinth Refineries S.A | Energy | 0.06% | $92,876.18 | — | — |
| 291 | BBCA | Bank Central Asia Tbk | Financial Services | 0.06% | $91,995.84 | — | — |
| 292 | 600150 | China CSSC Holdings Ltd | Industrials | 0.06% | $91,408.94 | — | — |
| 293 | 300760 | Shenzhen Mindray Bio-Medical Electronics Co Ltd Class A | Healthcare | 0.06% | $91,262.22 | — | — |
| 294 | 001120 | LX International Corp | Industrials | 0.06% | $90,235.15 | — | — |
| 295 | 000538 | Yunnan Baiyao Group Co Ltd | Healthcare | 0.06% | $89,941.71 | — | — |
| 296 | 2354 | Foxconn Technology Co Ltd | Technology | 0.06% | $89,501.53 | — | — |
| 297 | 2882 | Cathay Financial Holding Co Ltd | Financial Services | 0.06% | $89,501.53 | — | — |
| 298 | 001450 | Hyundai Mar&Fi | Financial Services | 0.06% | $89,354.81 | — | — |
| 299 | 5880 | Taiwan Cooperative Financial Holding Co Ltd | Financial Services | 0.06% | $89,354.81 | — | — |
| 300 | 036460 | Korea Gas Corporation | Utilities | 0.06% | $86,273.61 | — | — |
| 301 | 2280 | Almarai Company | Consumer Defensive | 0.06% | $82,018.62 | — | — |
| 302 | 1402 | Far Eastern New Century Corp | Consumer Cyclical | 0.06% | $81,871.89 | — | — |
| 303 | FALABELLA | Falabella | Consumer Cyclical | 0.06% | $81,578.45 | — | — |
| 304 | WEGE3 | WEG S.A. | Industrials | 0.06% | $81,431.72 | — | — |
| 305 | INDUSINDBK | IndusInd Bank Limited | Financial Services | 0.06% | $81,285.00 | — | — |
| 306 | 097950 | CJ Cheiljedang | Consumer Defensive | 0.06% | $81,138.28 | — | — |
| 307 | ACP | Asseco Poland S.A. | Technology | 0.06% | $81,138.28 | — | — |
| 308 | 1102 | Asia Cement Corp | Basic Materials | 0.06% | $80,991.55 | — | — |
| 309 | 2027 | Ta Chen Stainless Pipe Co Ltd | Basic Materials | 0.06% | $80,844.83 | — | — |
| 310 | 002475 | Luxshare Precision Industry Co Ltd | Technology | 0.06% | $80,844.83 | — | — |
| 311 | BVT | Bidvest Group Ltd | Industrials | 0.06% | $80,844.83 | — | — |
| 312 | 1099 | Sinopharm Group Co Ltd | Healthcare | 0.06% | $80,844.83 | — | — |
| 313 | 600346 | Hengli Petrochemical Co Ltd | Basic Materials | 0.06% | $80,698.10 | — | — |
| 314 | 0177 | Jiangsu Expressway Co Ltd | Industrials | 0.06% | $80,698.10 | — | — |
| 315 | HTO | Hellenic Telecommunications Organization S.A | Communication Services | 0.05% | $80,404.66 | — | — |
| 316 | 0960 | Longfor Properties Co Ltd | Real Estate | 0.05% | $80,404.66 | — | — |
| 317 | 600066 | Zhengzhou Yutong Bus Co Ltd | Industrials | 0.05% | $80,111.21 | — | — |
| 318 | 600704 | Wuchan Zhongda Group Co Ltd | Industrials | 0.05% | $79,964.49 | — | — |
| 319 | 0817 | China Jinmao Holdings Group Ltd | Real Estate | 0.05% | $79,524.31 | — | — |
| 320 | 011780 | Kumho Petro Chemical | Basic Materials | 0.05% | $79,377.59 | — | — |
| 321 | JINDALSTEL | Jindal Steel & Power Limited | Basic Materials | 0.05% | $78,203.80 | — | — |
| 322 | 9904 | Pou Chen Corp | Consumer Cyclical | 0.05% | $78,203.80 | — | — |
| 323 | ASIANPAINT | Asian Paints Limited | Basic Materials | 0.05% | $77,470.18 | — | — |
| 324 | DIVISLAB | Divi's Laboratories Limited | Healthcare | 0.05% | $77,176.73 | — | — |
| 325 | 2380 | Rabigh Refining & Petrochemical Co | Energy | 0.05% | $76,736.56 | — | — |
| 326 | 600170 | Shanghai Construction Group Co Ltd | Industrials | 0.05% | $76,443.11 | — | — |
| 327 | 1618 | Metallurgical Corporation of China Ltd | Industrials | 0.05% | $76,296.39 | — | — |
| 328 | 2385 | Chicony Electronics Co Ltd | Technology | 0.05% | $76,296.39 | — | — |
| 329 | 7113 | Top Glove Corporation Bhd | Healthcare | 0.05% | $72,334.85 | — | — |
| 330 | 600741 | HUAYU Automotive Systems Co Ltd | Consumer Cyclical | 0.05% | $72,041.40 | — | — |
| 331 | 3320 | China Resources Pharmaceutical Group Ltd | Healthcare | 0.05% | $71,307.78 | — | — |
| 332 | REDINGTON | Redington Limited | Technology | 0.05% | $71,307.78 | — | — |
| 333 | 000100 | TCL Corp | Technology | 0.05% | $71,014.33 | — | — |
| 334 | ABEV3 | Ambev S.A. | Consumer Defensive | 0.05% | $70,867.61 | — | — |
| 335 | 002380 | KCC Corporation | Basic Materials | 0.05% | $70,720.88 | — | — |
| 336 | 3969 | China Railway Signal & Commun | Industrials | 0.05% | $70,574.16 | — | — |
| 337 | KW0EQ0100028 | GULF BANK | Other | 0.05% | $70,427.44 | — | — |
| 338 | ALFAA | Alfa S.A.B. de C.V. | Consumer Defensive | 0.05% | $70,133.99 | — | — |
| 339 | 600487 | Hengtong Optic Electric Co Ltd | Technology | 0.05% | $69,840.54 | — | — |
| 340 | 000807 | Yunnan Aluminium Co Ltd | Basic Materials | 0.05% | $69,693.82 | — | — |
| 341 | ENGI11 | Energisa S.A | Utilities | 0.05% | $69,693.82 | — | — |
| 342 | BCI | Banco de Credito e Inversiones | Financial Services | 0.05% | $69,547.09 | — | — |
| 343 | SANB11 | Banco Santander (Brasil) S.A. | Financial Services | 0.05% | $69,253.65 | — | — |
| 344 | 5398 | Gamuda Bhd | Industrials | 0.05% | $69,253.65 | — | — |
| 345 | RBLBANK | RBL Bank Limited | Financial Services | 0.05% | $69,253.65 | — | — |
| 346 | NRP | NEPI Rockcastle PLC | Real Estate | 0.05% | $69,253.65 | — | — |
| 347 | BELA | Jumbo S.A. | Consumer Cyclical | 0.05% | $69,106.92 | — | — |
| 348 | TGA | Thungela Resources Limited | Energy | 0.05% | $68,960.20 | — | — |
| 349 | PFC | Power Finance Corporation Limited | Financial Services | 0.05% | $68,960.20 | — | — |
| 350 | 002001 | Zhejiang Nhu Co Ltd | Healthcare | 0.05% | $68,813.47 | — | — |
| 351 | 011170 | Lotte Chemical Corp | Basic Materials | 0.05% | $68,813.47 | — | — |
| 352 | 0598 | Sinotrans Ltd | Industrials | 0.05% | $68,813.47 | — | — |
| 353 | 000568 | Luzhou Lao Jiao Co Ltd | Consumer Defensive | 0.05% | $68,666.75 | — | — |
| 354 | 601838 | Bank of Chengdu Co Ltd | Financial Services | 0.05% | $67,492.96 | — | — |
| 355 | 4863 | Telekom Malaysia Bhd | Communication Services | 0.05% | $66,612.62 | — | — |
| 356 | 2353 | Acer Inc | Technology | 0.04% | $63,531.42 | — | — |
| 357 | 3900 | Greentown China Holdings Ltd | Real Estate | 0.04% | $63,237.97 | — | — |
| 358 | 600755 | Xiamen ITG Group Corp Ltd | Industrials | 0.04% | $63,237.97 | — | — |
| 359 | 2834 | Taiwan Business Bank | Financial Services | 0.04% | $63,091.25 | — | — |
| 360 | 0392 | Beijing Enterprises Holdings Ltd | Industrials | 0.04% | $62,651.07 | — | — |
| 361 | 1015 | AMMB Holdings Bhd | Financial Services | 0.04% | $62,064.18 | — | — |
| 362 | 601699 | Shanxi LuAn Environmental Energy Development Co Ltd | Energy | 0.04% | $61,770.73 | — | — |
| 363 | 0576 | Zhejiang Expressway Co Ltd | Industrials | 0.04% | $61,330.56 | — | — |
| 364 | 3673 | TPK Holding Co Ltd | Technology | 0.04% | $61,183.84 | — | — |
| 365 | 603288 | Foshan Haitian Flavouring and Food Co Ltd | Consumer Defensive | 0.04% | $58,836.25 | — | — |
| 366 | CIPLA | Cipla Limited | Healthcare | 0.04% | $58,689.53 | — | — |
| 367 | 1898 | China Coal Energy | Energy | 0.04% | $58,249.36 | — | — |
| 368 | 600309 | Wanhua Chemical Group Co Ltd | Basic Materials | 0.04% | $58,102.64 | — | — |
| 369 | 0220 | Uni-President China Holdings Ltd | Consumer Defensive | 0.04% | $57,955.91 | — | — |
| 370 | 0836 | China Resources Power Holding | Utilities | 0.04% | $57,955.91 | — | — |
| 371 | 600584 | JCET Group Co Ltd | Technology | 0.04% | $57,955.91 | — | — |
| 372 | 601155 | Seazen Holdings Co Ltd | Real Estate | 0.04% | $57,809.19 | — | — |
| 373 | 600176 | China Jushi Co Ltd | Basic Materials | 0.04% | $57,515.74 | — | — |
| 374 | 071050 | Korea Investment Holdings Co | Financial Services | 0.04% | $57,515.74 | — | — |
| 375 | 000415 | Bohai Leasing Co Ltd | Industrials | 0.04% | $57,515.74 | — | — |
| 376 | ASHOKLEY | Ashok Leyland Limited | Industrials | 0.04% | $57,369.02 | — | — |
| 377 | ABCAPITAL | Aditya Birla Capital Limited | Financial Services | 0.04% | $57,369.02 | — | — |
| 378 | 3908 | China Intl Capital Corp Ltd | Financial Services | 0.04% | $57,369.02 | — | — |
| 379 | 0552 | China Communications Services Corp Ltd | Communication Services | 0.04% | $57,369.02 | — | — |
| 380 | SMEBF | Sime Darby Bhd | Consumer Cyclical | 0.04% | $57,222.29 | — | — |
| 381 | TORNTPHARM | Torrent Pharmaceuticals Limited | Healthcare | 0.04% | $57,222.29 | — | — |
| 382 | 2607 | Shanghai Pharmaceuticals Holding Co Ltd | Healthcare | 0.04% | $57,222.29 | — | — |
| 383 | MRP | Mr Price Group Ltd | Consumer Cyclical | 0.04% | $57,222.29 | — | — |
| 384 | 6742 | YTL Power International Bhd | Utilities | 0.04% | $57,075.57 | — | — |
| 385 | QA0006929895 | QATAR NATIONAL BANK | Other | 0.04% | $57,075.57 | — | — |
| 386 | TBS | Tiger Brands Ltd | Consumer Defensive | 0.04% | $57,075.57 | — | — |
| 387 | 000895 | Henan Shuanghui Investment & Development Co Ltd | Consumer Defensive | 0.04% | $56,782.12 | — | — |
| 388 | EXX | Exxaro Resources Ltd | Energy | 0.04% | $56,782.12 | — | — |
| 389 | 1030 | Seazen Group Ltd | Real Estate | 0.04% | $56,488.67 | — | — |
| 390 | 023530 | Lotte Shopping | Consumer Cyclical | 0.04% | $56,195.23 | — | — |
| 391 | TPE | Tauron Polska Energia S.A. | Utilities | 0.04% | $56,048.50 | — | — |
| 392 | 2542 | Highwealth Construction Corp | Real Estate | 0.04% | $55,901.78 | — | — |
| 393 | 2009 | BBMG Corp | Basic Materials | 0.04% | $53,114.03 | — | — |
| 394 | AUBANK | AU Small Finance Bank Limited | Financial Services | 0.04% | $53,114.03 | — | — |
| 395 | 0257 | China Everbright Environment Group Ltd | Industrials | 0.04% | $52,527.13 | — | — |
| 396 | 1918 | Sunac China Holdings Limited | Real Estate | 0.04% | $52,527.13 | — | — |
| 397 | 600406 | NARI Technology Co Ltd | Industrials | 0.04% | $52,233.68 | — | — |
| 398 | CHENNPETRO | Chennai Petroleum Corporation Limited | Energy | 0.04% | $51,646.79 | — | — |
| 399 | 600153 | Xiamen C&D Inc | Industrials | 0.04% | $51,353.34 | — | — |
| 400 | Y92 | Thai Beverage Public Company Limited | Consumer Defensive | 0.04% | $51,353.34 | — | — |
| 401 | 3360 | Far East Horizon Ltd | Financial Services | 0.03% | $51,206.62 | — | — |
| 402 | 601997 | Bank of Guiyang Co Ltd | Financial Services | 0.03% | $50,473.00 | — | — |
| 403 | ELPE | Hellenic Petroleum S.A | Energy | 0.03% | $50,032.82 | — | — |
| 404 | GRUMAB | Gruma S.A.B. de C.V. | Consumer Defensive | 0.03% | $50,032.82 | — | — |
| 405 | 1963 | Bank Of Chongqing Co Ltd | Financial Services | 0.03% | $50,032.82 | — | — |
| 406 | 600820 | Shanghai Tunnel Engineering Co Ltd | Industrials | 0.03% | $49,886.10 | — | — |
| 407 | 1193 | China Resources Gas Group Ltd | Utilities | 0.03% | $49,739.38 | — | — |
| 408 | 6456 | General Interface Solution GIS Holding Ltd | Technology | 0.03% | $49,592.65 | — | — |
| 409 | PETRONET | Petronet LNG Limited | Energy | 0.03% | $49,592.65 | — | — |
| 410 | 003690 | Korean Reinsu | Financial Services | 0.03% | $49,445.93 | — | — |
| 411 | 1476 | Eclat Textile Co Ltd | Consumer Cyclical | 0.03% | $49,299.21 | — | — |
| 412 | 0323 | Maanshan Iron & Steel Co Ltd | Basic Materials | 0.03% | $49,299.21 | — | — |
| 413 | I93 | Indorama Ventures Public Company Limited | Basic Materials | 0.03% | $49,299.21 | — | — |
| 414 | 2006 | Tung Ho Steel Enterprise Corp | Basic Materials | 0.03% | $49,152.48 | — | — |
| 415 | 4190 | Jarir Marketing Co | Consumer Cyclical | 0.03% | $49,152.48 | — | — |
| 416 | COROMANDEL | Coromandel International Limited | Basic Materials | 0.03% | $48,712.31 | — | — |
| 417 | 2618 | Eva Airways Corp | Industrials | 0.03% | $48,418.86 | — | — |
| 418 | 000830 | Luxi Chemical Group Co Ltd | Basic Materials | 0.03% | $46,951.62 | — | — |
| 419 | UNTR | United Tractors Tbk PT | Basic Materials | 0.03% | $46,658.18 | — | — |
| 420 | 601168 | Western Mining Co Ltd | Basic Materials | 0.03% | $46,071.28 | — | — |
| 421 | ANDINA-B | Embotelladora Andina S.A | Consumer Defensive | 0.03% | $45,924.56 | — | — |
| 422 | 3816 | MISC Bhd | Industrials | 0.03% | $45,631.11 | — | — |
| 423 | 0291 | China Resources Beer Holdings Co Ltd | Consumer Defensive | 0.03% | $45,631.11 | — | — |
| 424 | 3336 | IJM Corporation Bhd | Industrials | 0.03% | $45,190.94 | — | — |
| 425 | 000932 | Hunan Valin Steel Co Ltd | Basic Materials | 0.03% | $45,190.94 | — | — |
| 426 | CSNA3 | Companhia Siderúrgica Nacional | Basic Materials | 0.03% | $45,044.21 | — | — |
| 427 | ENELCHILE | Enel Chile S.A | Utilities | 0.03% | $45,044.21 | — | — |
| 428 | 5225 | IHH Healthcare Bhd | Healthcare | 0.03% | $44,897.49 | — | — |
| 429 | NMDC | NMDC Limited | Basic Materials | 0.03% | $44,750.77 | — | — |
| 430 | 4FZ | Orbia Advance Corporation S.A.B. de C.V | Industrials | 0.03% | $44,604.04 | — | — |
| 431 | 6198 | Qingdao Port International Co Ltd | Industrials | 0.03% | $44,604.04 | — | — |
| 432 | 010130 | Korea Zinc Inc | Basic Materials | 0.03% | $44,604.04 | — | — |
| 433 | 1717 | Eternal Materials Co Ltd | Basic Materials | 0.03% | $44,604.04 | — | — |
| 434 | 000878 | Yunnan Copper Co Ltd | Basic Materials | 0.03% | $44,457.32 | — | — |
| 435 | TCELL | Turkcell Iletisim Hizmetleri AS ORD | Communication Services | 0.03% | $44,457.32 | — | — |
| 436 | MPHASIS | MphasiS Limited | Technology | 0.03% | $44,310.60 | — | — |
| 437 | TKG | Telkom | Communication Services | 0.03% | $44,310.60 | — | — |
| 438 | 0902 | Huaneng Power International | Utilities | 0.03% | $43,870.42 | — | — |
| 439 | HAR | Harmony Gold Mining Co. Ltd. | Basic Materials | 0.03% | $43,723.70 | — | — |
| 440 | CENCOSUD | Cencosud | Consumer Cyclical | 0.03% | $43,576.98 | — | — |
| 441 | 5819 | Hong Leong Bank Bhd | Financial Services | 0.03% | $43,576.98 | — | — |
| 442 | MAHABANK | Bank of Maharashtra | Financial Services | 0.03% | $43,576.98 | — | — |
| 443 | OPAP | Greek Organization of Football Prognostics S.A. | Consumer Cyclical | 0.03% | $43,430.25 | — | — |
| 444 | GRT | Growthpoint Properties Ltd | Real Estate | 0.03% | $43,283.53 | — | — |
| 445 | LPP | LPP S.A. | Consumer Cyclical | 0.03% | $43,283.53 | — | — |
| 446 | CPFE3 | CPFL Energia S.A | Utilities | 0.03% | $40,202.33 | — | — |
| 447 | BRITANNIA | Britannia Industries Limited | Consumer Defensive | 0.03% | $40,055.60 | — | — |
| 448 | 000983 | Shanxi Xishan Coal and Electricity Power Co Ltd | Energy | 0.03% | $39,762.16 | — | — |
| 449 | CADILAHC | Zydus Lifesciences Ltd | Healthcare | 0.03% | $39,762.16 | — | — |
| 450 | 047050 | Posco International Corp | Industrials | 0.03% | $39,762.16 | — | — |
| 451 | 5110 | Saudi Electricity Company | Utilities | 0.03% | $39,615.43 | — | — |
| 452 | 6176 | Radiant Opto-Electronics Corp | Technology | 0.03% | $39,615.43 | — | — |
| 453 | 2386 | Sinopec Engineering(Group)Co | Industrials | 0.03% | $39,615.43 | — | — |
| 454 | 1138 | COSCO Shipping Energy Transportation Co Ltd | Energy | 0.03% | $39,468.71 | — | — |
| 455 | 002311 | Guangdong Haid Group Co Ltd | Consumer Defensive | 0.03% | $39,468.71 | — | — |
| 456 | 600282 | Nanjing Iron & Steel Co Ltd | Basic Materials | 0.03% | $39,028.54 | — | — |
| 457 | 600989 | Ningxia Baofeng Energy Group Co Ltd | Basic Materials | 0.03% | $38,735.09 | — | — |
| 458 | 000977 | Inspur Electronic Info Industr | Technology | 0.03% | $38,588.37 | — | — |
| 459 | SUPREMEIND | Supreme Industries Limited | Industrials | 0.03% | $38,001.47 | — | — |
| 460 | CPS | Cyfrowy Polsat SA | Communication Services | 0.03% | $38,001.47 | — | — |
| 461 | NHPC | NHPC Limited | Utilities | 0.03% | $38,001.47 | — | — |
| 462 | IBULHSGFIN | Indiabulls Housing Finance Limited | Financial Services | 0.03% | $37,854.75 | — | — |
| 463 | 1071 | Huadian Power International Corp Ltd | Utilities | 0.03% | $37,708.02 | — | — |
| 464 | 5249 | IOI Properties Group Bhd | Real Estate | 0.03% | $37,708.02 | — | — |
| 465 | KW0EQ0601058 | MOBILE TELECOMMUNICATIONS CO | Other | 0.03% | $37,708.02 | — | — |
| 466 | 1508 | China Reinsurance(Group)Corp | Financial Services | 0.03% | $37,561.30 | — | — |
| 467 | MEGACPO | Megacable Holdings S. A. B. de C. V | Consumer Cyclical | 0.03% | $37,561.30 | — | — |
| 468 | TMLF | TMBThanachart Bank Public Company Limited | Financial Services | 0.03% | $37,414.58 | — | — |
| 469 | 600157 | Wintime Energy Co Ltd | Energy | 0.03% | $37,414.58 | — | — |
| 470 | 002027 | Focus Media Information Technology Co Ltd | Communication Services | 0.03% | $37,414.58 | — | — |
| 471 | 5183 | Petronas Chemicals Group Bhd | Basic Materials | 0.03% | $37,267.85 | — | — |
| 472 | KW0EQ0102065 | BOUBYAN BANK K.S.C | Other | 0.03% | $36,974.40 | — | — |
| 473 | CHDRAUIB | Grupo Comercial Chedraui S.A.B. de C.V | Consumer Defensive | 0.02% | $34,920.27 | — | — |
| 474 | WHL | Woolworths Holdings Ltd | Consumer Cyclical | 0.02% | $34,626.82 | — | — |
| 475 | 1961 | IOI Corporation Bhd | Consumer Defensive | 0.02% | $34,480.10 | — | — |
| 476 | 300433 | Lens Technology Co Ltd | Technology | 0.02% | $34,480.10 | — | — |
| 477 | 000050 | Tianma Microelectronics Co Ltd | Technology | 0.02% | $34,333.38 | — | — |
| 478 | 2866 | Cosco Shipping Development Co Ltd | Industrials | 0.02% | $34,039.93 | — | — |
| 479 | PPC | Public Power Corporation S.A. | Utilities | 0.02% | $33,893.20 | — | — |
| 480 | ISMEN | Is Yatirim Menkul Degerler AS | Financial Services | 0.02% | $33,746.48 | — | — |
| 481 | QA0006929853 | QATAR ISLAMIC BANK | Other | 0.02% | $33,599.76 | — | — |
| 482 | BIMBOA | Grupo Bimbo S.A.B. de C.V | Consumer Defensive | 0.02% | $33,306.31 | — | — |
| 483 | 2238 | Guangzhou Automobile Group Co Ltd | Consumer Cyclical | 0.02% | $33,306.31 | — | — |
| 484 | 1066 | RHB Bank Bhd | Financial Services | 0.02% | $33,159.58 | — | — |
| 485 | 004990 | Lotte Corp | Consumer Defensive | 0.02% | $33,012.86 | — | — |
| 486 | 9910 | Feng Tay Enterprises Co Ltd | Consumer Cyclical | 0.02% | $32,866.14 | — | — |
| 487 | ARI | African Rainbow Minerals Ltd | Basic Materials | 0.02% | $32,866.14 | — | — |
| 488 | 601216 | Inner Mongolia Junzheng Energy & Chemical Group Co Ltd | Basic Materials | 0.02% | $32,279.24 | — | — |
| 489 | LUPIN | LUPIN LTD. | Healthcare | 0.02% | $32,279.24 | — | — |
| 490 | 0152 | Shenzhen International Holdings Ltd | Industrials | 0.02% | $31,985.79 | — | — |
| 491 | TH0637010Y18 | RATCH GROUP PCL-FOREIGN | Other | 0.02% | $31,985.79 | — | — |
| 492 | COPEC | Empresas Copec S.A. | Industrials | 0.02% | $31,985.79 | — | — |
| 493 | THYG | Thai Union Group Public Company Limited | Consumer Defensive | 0.02% | $31,839.07 | — | — |
| 494 | 2220 | TIANQI LITHIUM H YC 1 | Basic Materials | 0.02% | $31,692.35 | — | — |
| 495 | 1773 | YTL Corporation Bhd | Utilities | 0.02% | $31,545.62 | — | — |
| 496 | 7020 | Etihad Etisalat Co | Communication Services | 0.02% | $31,252.17 | — | — |
| 497 | 5211 | Sunway Bhd | Industrials | 0.02% | $31,252.17 | — | — |
| 498 | 601825 | Shanghai Rural Commercial Bank Co Ltd | Financial Services | 0.02% | $29,344.77 | — | — |
| 499 | EGIE3 | Engie Brasil Energia S.A. | Utilities | 0.02% | $28,757.87 | — | — |
| 500 | ENJSA | Enerjisa Enerji AS | Utilities | 0.02% | $28,611.15 | — | — |
| 501 | 1044 | Hengan Intl Group Ltd-H | Consumer Defensive | 0.02% | $28,464.42 | — | — |
| 502 | MARICO | MARICO LTD. | Consumer Defensive | 0.02% | $28,317.70 | — | — |
| 503 | 1772 | Ganfeng Lithium Co Ltd | Basic Materials | 0.02% | $28,170.97 | — | — |
| 504 | NESTLEIND | Nestle India Limited | Consumer Defensive | 0.02% | $28,170.97 | — | — |
| 505 | 4300 | Dar Alarkan Real Estate Development | Real Estate | 0.02% | $28,024.25 | — | — |
| 506 | CFEIY | China Feihe Limited | Consumer Defensive | 0.02% | $27,730.80 | — | — |
| 507 | 0656 | Fosun International Ltd | Industrials | 0.02% | $27,730.80 | — | — |
| 508 | PGAS | Perusahaan Gas Negara Persero | Utilities | 0.02% | $27,437.36 | — | — |
| 509 | ENKAI | ENKA Insaat ve Sanayi AS | Industrials | 0.02% | $27,290.63 | — | — |
| 510 | 0338 | Sinopec Shanghai Petrochemical Co Ltd Class H | Energy | 0.02% | $27,143.91 | — | — |
| 511 | AEFES | Anadolu Efes Biracilik ve Malt Sanayi AS | Consumer Defensive | 0.02% | $27,143.91 | — | — |
| 512 | 3898 | Zhuzhou CRRC Times Electric Co Ltd | Industrials | 0.02% | $26,557.01 | — | — |
| 513 | LHOG | LD + HOUSES PCL FGN BA 1 | Real Estate | 0.02% | $26,557.01 | — | — |
| 514 | 0371 | Beijing Enterprises Water Group Ltd | Utilities | 0.02% | $26,410.29 | — | — |
| 515 | 2392 | Cheng Uei Precision Industry Co Ltd | Technology | 0.02% | $26,263.56 | — | — |
| 516 | 0819 | Tianneng Power International Ltd | Consumer Cyclical | 0.02% | $26,116.84 | — | — |
| 517 | JSW | Jastrzebska Spotka Weglowa SA | Energy | 0.02% | $26,116.84 | — | — |
| 518 | CCOLA | Coca-Cola Icecek AS | Consumer Defensive | 0.02% | $25,970.12 | — | — |
| 519 | KIO | Kumba Iron Ore Ltd | Basic Materials | 0.02% | $25,823.39 | — | — |
| 520 | OFSS | Oracle Financial Services Software Limited | Technology | 0.02% | $25,676.67 | — | — |
| 521 | 2105 | Cheng Shin Rubber Ind. Co Ltd | Consumer Cyclical | 0.02% | $25,236.50 | — | — |
| 522 | 029780 | Samsung Card Co. Ltd. | Financial Services | 0.02% | $24,062.71 | — | — |
| 523 | COLPAL | Colgate Palmolive (India) Limited | Consumer Defensive | 0.02% | $23,475.81 | — | — |
| 524 | ALKEM | Alkem Laboratories Limited | Healthcare | 0.02% | $23,475.81 | — | — |
| 525 | 601577 | Bank of Changsha Co Ltd | Financial Services | 0.02% | $23,475.81 | — | — |
| 526 | 600886 | SDIC Power Holdings Co Ltd | Utilities | 0.02% | $23,329.09 | — | — |
| 527 | 9945 | Ruentex Development Co Ltd | Industrials | 0.02% | $23,329.09 | — | — |
| 528 | 600352 | Zhejiang Longsheng Group Co Ltd | Basic Materials | 0.02% | $23,182.36 | — | — |
| 529 | 051900 | LG Household & Healthcare | Consumer Defensive | 0.02% | $23,035.64 | — | — |
| 530 | 6098 | Country Garden Services Holdings Co Ltd | Real Estate | 0.02% | $22,888.92 | — | — |
| 531 | 8464 | Nien Made Enterprise Co Ltd | Consumer Cyclical | 0.02% | $22,742.19 | — | — |
| 532 | 4013 | Dr Sulaiman Al Habib Medical Group | Healthcare | 0.02% | $22,302.02 | — | — |
| 533 | LTI | Larsen & Toubro Infotech Limited | Technology | 0.02% | $22,155.30 | — | — |
| 534 | 2128 | China Lesso Group Holdings Ltd | Industrials | 0.01% | $21,861.85 | — | — |
| 535 | RAIN | Rain Industries Limited | Basic Materials | 0.01% | $21,421.68 | — | — |
| 536 | 600039 | Sichuan Road & Bridge Group Co Ltd | Industrials | 0.01% | $21,421.68 | — | — |
| 537 | 2290 | Yanbu National Petrochemical Co | Basic Materials | 0.01% | $20,981.51 | — | — |
| 538 | 6888 | Axiata Group Bhd | Communication Services | 0.01% | $20,834.78 | — | — |
| 539 | ENELAM | Enel Américas S.A | Utilities | 0.01% | $20,541.34 | — | — |
| 540 | AMRT | Sumber Alfaria Trijaya Tbk | Consumer Defensive | 0.01% | $18,780.65 | — | — |
| 541 | 6269 | Flexium Interconnect Inc | Technology | 0.01% | $18,633.93 | — | — |
| 542 | 2208 | Xinjiang Goldwind Science & Technology Co Ltd | Industrials | 0.01% | $18,193.75 | — | — |
| 543 | 2445 | Kuala Lumpur Kepong Bhd | Industrials | 0.01% | $18,193.75 | — | — |
| 544 | BBSE3 | BB Seguridade Participacoes SA | Financial Services | 0.01% | $18,193.75 | — | — |
| 545 | 1072 | Dongfang Electric Corp Ltd | Industrials | 0.01% | $17,460.14 | — | — |
| 546 | KLBF | Kalbe Farma Tbk PT | Healthcare | 0.01% | $17,019.96 | — | — |
| 547 | 4164 | Nahdi Medical Company | Healthcare | 0.01% | $16,873.24 | — | — |
| 548 | DABUR | Dabur India Limited | Consumer Defensive | 0.01% | $16,873.24 | — | — |
| 549 | 2089 | United Plantations Bhd | Consumer Defensive | 0.01% | $16,579.79 | — | — |
| 550 | ULTRACEMCO | UltraTech Cement Limited | Basic Materials | 0.01% | $16,139.62 | — | — |
| 551 | QA000A0KD6K3 | INDUSTRIES QATAR | Other | 0.01% | $15,699.45 | — | — |
| 552 | 1210 | Great Wall Enterprise Co Ltd | Consumer Defensive | 0.01% | $15,406.00 | — | — |
| 553 | 2633 | Taiwan High Speed Rail Corp | Industrials | 0.01% | $14,819.11 | — | — |
| 554 | KTB1 | KRUNG THAI -FGN- BA 515 | Financial Services | 0.01% | $14,672.38 | — | — |
| 555 | QA000A0M8VM3 | MASRAF AL RAYAN | Other | 0.01% | $13,938.76 | — | — |
| 556 | MBT | Metropolitan Bank & Trust Co | Financials | 0.01% | $13,792.04 | — | — |
| 557 | 600985 | Huaibei Mining Holdings Co Ltd | Basic Materials | 0.01% | $13,792.04 | — | — |
| 558 | 2310 | Sahara International Petrochemical Company SJSC | Basic Materials | 0.01% | $13,351.87 | — | — |
| 559 | 600998 | Jointown Pharmaceutical Group Co Ltd | Healthcare | 0.01% | $13,205.14 | — | — |
| 560 | 8210 | Bupa Arabia for Coop. Insurance | Financial Services | 0.01% | $12,911.70 | — | — |
| 561 | AXIA3 | Centrais Elétricas Brasileiras S.A. - Eletrobrás | Utilities | 0.01% | $12,764.97 | — | — |
| 562 | 000876 | New Hope Liuhe Co Ltd | Consumer Defensive | 0.01% | $12,764.97 | — | — |
| 563 | BDO | BDO Unibank Inc | Financials | 0.01% | $11,591.18 | — | — |
| 564 | INDF | PT Indofood Sukses Makmur Tbk | Consumer Defensive | 0.01% | $11,297.73 | — | — |
| 565 | 0347 | Angang Steel | Basic Materials | 0.01% | $10,123.94 | — | — |
| 566 | 0881 | Zhongsheng Group Holdings Ltd | Consumer Cyclical | 0.01% | $8,950.15 | — | — |
| 567 | BPI | Bank of the Philippine Islands | Financials | 0.01% | $7,336.19 | — | — |
| 568 | TITAN | Titan Company Limited | Consumer Cyclical | 0.00% | $6,896.02 | — | — |
| 569 | KW0EQ0400725 | MABANEE CO KPSC | Other | 0.00% | $6,162.40 | — | — |
| 570 | SISE | Turkiye Sise ve Cam Fabrikalari AS | Industrials | 0.00% | $5,282.06 | — | — |
| 571 | CMPC | Empresas CMPC | Basic Materials | 0.00% | $4,988.61 | — | — |
| 572 | NIND | National Industries Group Holding SAK | Industrials | 0.00% | $4,841.89 | — | — |
| 573 | SELEC | Selcuk Ecza Deposu Ticaret ve Sanayi AS | Healthcare | 0.00% | $4,401.71 | — | — |
| 574 | BEL | Bharat Electronics Limited | Industrials | 0.00% | $3,668.10 | — | — |
Weights as a percentage of net assets. Value held = weight × net assets ($146.7M). Market cap and P/E from each company's latest fundamentals (U.S.-listed stocks).
MFEM sector breakdown
| Sector | Weight | Holdings | Largest |
|---|---|---|---|
| Technology | 32.3% | 76 | 3711, 2454, 2308 |
| Financial Services | 15.3% | 90 | 0939, 1398, 3988 |
| Basic Materials | 12.2% | 84 | 1303, VALE3, 005490 |
| Energy | 8.6% | 40 | PETR4, PTOG, 0857 |
| Industrials | 7.8% | 82 | 006400, 034730, 000150 |
| Consumer Cyclical | 5.5% | 39 | 005380, 012330, YUMC |
| Consumer Defensive | 3.2% | 51 | 600519, FEMSAUBD, 1216 |
| Communication Services | 3.1% | 24 | 9999, 2412, 017670 |
| Utilities | 2.2% | 33 | 015760, 600900, POWERGRID |
| Healthcare | 1.0% | 21 | 2359, SUNPHARMA, 300760 |
| Real Estate | 0.9% | 17 | 0688, 1109, 2202 |
| Other | 0.9% | 14 | SGL, TH0264A10Z12, KW0EQ0100085 |
| Financials | 0.0% | 3 | MBT, BDO, BPI |
Sum of the weights of the holdings in each sector.
MFEM top industries
Electronic Components
11.7%
Semiconductors
11.1%
Banks - Regional
6.9%
Oil & Gas Integrated
5.1%
Computer Hardware
4.5%
Banks - Diversified
4.3%
Specialty Chemicals
3.3%
Auto Manufacturers
2.6%
Consumer Electronics
2.5%
Telecom Services
2.2%
Insurance - Life
2.2%
Steel
2.1%
Oil & Gas Refining & Marketing
2.0%
Conglomerates
2.0%
Other Industrial Metals & Mining
1.6%
MFEM overlap with other ETFs
| ETF | Fund | Overlap | Shared holdings | Expense ratio |
|---|---|---|---|---|
| VXUS | Vanguard Total International Stock ETF | 13.7% | 564 of 8,035 | 0.05% |
| IWM | iShares Russell 2000 ETF | 0.1% | 2 of 1,962 | 0.19% |
| VTI | Vanguard Total Stock Market ETF | 0.1% | 8 of 2,941 | 0.03% |
| SPY | SPDR S&P 500 ETF | 0.0% | 0 of 502 | 0.09% |
| QQQ | Invesco QQQ ETF | 0.0% | 0 of 101 | 0.17% |
| DIA | SPDR Dow Jones Industrial Average ETF | 0.0% | 0 of 30 | 0.16% |
Overlap = sum over shared holdings of the smaller of the two weights. 100% means identical portfolios.
About the MFEM portfolio
PIMCO RAFI Dynamic Multi-Factor Emerging… holds 591 positions. The ten largest make up 18.5% of the fund and the top 50 46.8%, so it behaves like a portfolio of about 129 equally weighted positions. The biggest positions are ASE Industrial Holding Co Ltd (2.62%), MediaTek Inc (2.59%), Nan Ya Plastics Corp (2.33%), Delta Electronics Inc (1.98%), Petróleo Brasileiro S.A. - Petrobras (1.79%).
By sector, Technology is 32.3%, Financial Services is 15.3%, Basic Materials is 12.2%. Holdings data is from the fund's latest portfolio as reported by EODHD on October 25, 2026; positions change as the fund rebalances.
Related: MFEM chart, MFEM performance, MFEM dividends, MFEM overview.
MFEM holdings FAQ
How many holdings does MFEM have?
MFEM holds 591 positions as of October 25, 2026.
What are the top 10 holdings of MFEM?
The ten largest holdings are ASE Industrial Holding Co Ltd (2.62%), MediaTek Inc (2.59%), Nan Ya Plastics Corp (2.33%), Delta Electronics Inc (1.98%), Petróleo Brasileiro S.A. - Petrobras (1.79%), Hyundai Motor Co. Ltd. (1.69%), Samsung Electro-Mechanics (1.60%), Taiwan Semiconductor Manufacturing Co. Ltd. (1.32%), United Microelectronics Corporation (1.28%), Lenovo Group (1.27%). Together they are 18.5% of the fund.
What percentage of MFEM is ASE Industrial Holding Co Ltd?
ASE Industrial Holding Co Ltd is the largest holding at 2.62% of net assets, about $3.8M of the fund's $146.7M.
Which sector is the largest in MFEM?
Technology is the largest sector at 32.3%, followed by Financial Services (15.3%) and Basic Materials (12.2%), based on the sectors of the individual holdings.
How concentrated is MFEM?
The top 10 holdings are 18.5% of the fund. By the effective number of holdings (1 divided by the sum of squared weights) MFEM behaves like a portfolio of about 129 equally weighted positions.