DFEM vs. QEMM ETF Comparison

Comparison of Dimensional Emerging Markets Core Equity 2 ETF (DFEM) to SPDR MSCI Emerging Markets Quality Mix ETF (QEMM)

DFEM

Dimensional Emerging Markets Core Equity 2 ETF

DFEM Description

The Portfolio is designed to purchase a broad and diverse group of securities associated with emerging markets, which may include frontier markets (emerging market countries in an earlier stage of development). As a non-fundamental policy, under normal circumstances, the Portfolio will invest at least 80% of its net assets in emerging markets equity investments that are defined in the prospectus as Approved Market securities.

Grade (RS Rating)

Last Trade

$26.58

Average Daily Volume

594,183

Number of Holdings ^*

100

* may have additional holdings in another (foreign) market

QEMM

SPDR MSCI Emerging Markets Quality Mix ETF

QEMM Description

The investment seeks to track the performance of the MSCI Emerging Markets (EM) Quality Mix Index. The index captures large- and mid-cap representation across 23 emerging markets countries and aims to represent the performance of value, low volatility, and quality factor strategies. Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. It is non-diversified.

Grade (RS Rating)

Last Trade

$59.55

Average Daily Volume

1,920

Number of Holdings ^*

59

* may have additional holdings in another (foreign) market

Performance

Period	DFEM	QEMM
30 Days	-3.87%	-3.65%
60 Days	-1.41%	-1.79%
90 Days	-1.52%	-1.91%
12 Months	12.95%	11.31%

76 Overlapping Holdings

	Symbol	Grade	Weight in DFEM	Weight in QEMM	Overlap
	ABEV	F	0.03%	0.28%	0.03%
	ABEV	F	0.03%	0.02%	0.02%
	ASAI	F	0.02%	0.02%	0.02%
	ASAI	F	0.01%	0.02%	0.01%
	BABA	D	0.02%	0.69%	0.02%
	BABA	D	1.24%	0.69%	0.69%
	BABA	D	0.02%	0.04%	0.02%
	BABA	D	1.24%	0.04%	0.04%
	BAP	A	0.05%	0.25%	0.05%
	BCH	C	0.0%	0.01%	0.0%
	BCH	C	0.03%	0.01%	0.01%
	BGNE	D	0.01%	0.01%	0.01%
	BGNE	D	0.01%	0.01%	0.01%
	BIDU	F	0.14%	0.09%	0.09%
	BIDU	F	0.02%	0.09%	0.02%
	BSAC	C	0.01%	0.01%	0.01%
	CHT	C	0.03%	0.49%	0.03%
	CHT	C	0.02%	0.49%	0.02%
	CIB	B	0.02%	0.01%	0.01%
	CIG	C	0.01%	0.01%	0.01%
	CSAN	F	0.0%	0.02%	0.0%
	ENIC	B	0.0%	0.0%	0.0%
	GGB	C	0.01%	0.05%	0.01%
	GGB	C	0.07%	0.05%	0.05%
	HDB	C	0.24%	0.25%	0.24%
	HDB	C	0.25%	0.25%	0.25%
	IBN	C	0.62%	0.15%	0.15%
	IBN	C	0.15%	0.15%	0.15%
	IBN	C	0.15%	0.14%	0.14%
	IBN	C	0.62%	0.14%	0.14%
	INFY	C	0.32%	1.07%	0.32%
	IQ	F	0.02%	0.0%	0.0%
	ITUB	F	0.01%	0.15%	0.01%
	KB	B	0.01%	0.09%	0.01%
	KB	B	0.38%	0.09%	0.09%
	KB	B	0.01%	0.21%	0.01%
	KB	B	0.38%	0.21%	0.21%
	KEP	B	0.02%	0.09%	0.02%
	KEP	B	0.02%	0.06%	0.02%
	KEP	B	0.01%	0.09%	0.01%
	KEP	B	0.01%	0.06%	0.01%
	LI	F	0.0%	0.02%	0.0%
	LI	F	0.07%	0.02%	0.02%
	LPL	D	0.0%	0.02%	0.0%
	LPL	D	0.05%	0.01%	0.01%
	LPL	D	0.0%	0.01%	0.0%
	LPL	D	0.05%	0.02%	0.02%
	NIO	F	0.01%	0.0%	0.0%
	PBR	D	0.03%	0.16%	0.03%
	PDD	F	0.46%	1.32%	0.46%
	PKX	D	0.02%	0.08%	0.02%
	RDY	F	0.11%	0.17%	0.11%
	SBS	B	0.01%	0.03%	0.01%
	SBSW	D	0.07%	0.04%	0.04%
	SHG	C	0.05%	0.03%	0.03%
	SHG	C	0.19%	0.03%	0.03%
	SHG	C	0.19%	0.22%	0.19%
	SHG	C	0.05%	0.22%	0.05%
	SKM	C	0.02%	0.18%	0.02%
	SKM	C	0.02%	0.18%	0.02%
	SQM	D	0.02%	0.01%	0.01%
	SUZ	B	0.0%	0.03%	0.0%
	TCOM	B	0.01%	0.06%	0.01%
	TCOM	B	0.19%	0.06%	0.06%
	TME	D	0.05%	0.02%	0.02%
	UGP	F	0.0%	0.02%	0.0%
	UMC	F	0.14%	0.1%	0.1%
	UMC	F	0.04%	0.1%	0.04%
	VALE	F	0.31%	1.15%	0.31%
	VALE	F	0.31%	0.03%	0.03%
	VIPS	F	0.14%	0.17%	0.14%
	VIV	F	0.01%	0.01%	0.01%
	WIT	B	0.01%	0.25%	0.01%
	WIT	B	0.06%	0.25%	0.06%
	XPEV	C	0.13%	0.01%	0.01%
	YUMC	C	0.2%	0.09%	0.09%

DFEM Overweight 38 Positions Relative to QEMM

	Symbol	Grade	Weight
	ERJ	A	0.14%
	ERJ	A	0.14%
	GFI	D	0.13%
	GDS	C	0.1%
	BILI	D	0.09%
	CX	F	0.09%
	PAC	B	0.08%
	HMY	D	0.07%
	ASR	D	0.05%
	CAR	C	0.05%
	BRFS	C	0.05%
	NTES	D	0.04%
	SGRP	D	0.03%
	JKS	F	0.03%
	VIST	B	0.03%
	BBD	D	0.02%
	OMAB	D	0.02%
	FMX	F	0.02%
	KOF	F	0.02%
	PHI	D	0.01%
	SHPH	F	0.01%
	ASX	D	0.01%
	AKO.A	F	0.01%
	IMOS	F	0.01%
	WF	C	0.01%
	BAOS	F	0.0%
	LGHT	D	0.0%
	ELP	F	0.0%
	SLDB	F	0.0%
	MGNX	F	0.0%
	PDSB	F	0.0%
	CCU	D	0.0%
	BZUN	F	0.0%
	BAK	F	0.0%
	ZTO	F	0.0%
	EBR	F	0.0%
	ZLAB	C	0.0%
	VNET	B	0.0%

DFEM Underweight 7 Positions Relative to QEMM

	Symbol	Grade	Weight
	SCCO	F	-0.25%
	QFIN	A	-0.12%
	BVN	D	-0.1%
	LEGN	D	-0.05%
	SID	F	-0.02%
	BEKE	D	-0.02%
	ATHM	C	-0.01%

DFEM: Top Represented Industries & Keywords

Industries: Banks - Regional - Latin America Banks - Regional - Asia Internet Content & Information Biotechnology Specialty Retail Telecom Services Airports & Air Services Auto Manufacturers Beverages - Brewers Drug Manufacturers - Specialty & Generic Gold Information Technology Services Semiconductors Utilities - Regulated Electric Chemicals Oil & Gas Refining & Marketing Steel Utilities - Diversified Advertising Agencies Aerospace & Defense

Keywords: Bank Banking Investment Banking Currency Financial Products Advertising Services Broadband Drink Internet Access Investment Banking Services Natural Gas Securitization Telecommunications Beer Cancer Cash Management Cola Deposit Products Distribution Network E-Commerce

QEMM: Top Represented Industries & Keywords

Industries: Banks - Regional - Latin America Banks - Regional - Asia Internet Content & Information Auto Manufacturers Specialty Retail Steel Telecom Services Biotechnology Industrial Metals & Minerals Information Technology Services Oil & Gas Refining & Marketing Utilities - Regulated Electric Beverages - Brewers Chemicals Consumer Electronics Copper Credit Services Drug Manufacturers - Specialty & Generic Gold Grocery Stores

Keywords: Bank Banking Currency Investment Banking Financial Products Investment Banking Services Natural Gas Advertising Services Cash Management Factoring Investment Product Securitization Telecommunications Broadband Cloud Computing Commercial Banking Demand Deposit Distribution Network Electric Vehicle Electricity