At a glance
EEMA charges 0.49% a year, above the 0.33% average of the 8 funds most like it (the 7th cheapest of 9). It has $877.0M in assets, the 6th largest of that group; it paid 1.42% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +13.5% with distributions reinvested (S&P 500: +11.5%), 5th of those 9 funds; over three years it returned +23.4% a year. At its worst it fell 27.8% in the 2020 crash (S&P 500: 33.7%) and 33.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 24 months after the lows. Its ten largest positions make up 34.3% of the fund, out of 892 in all.
The short version
iShares MSCI Emerging Markets Asia ETF (EEMA) is a BlackRock index fund that tracks the MSCI EM Asia Custom Capped Index: large and mid-size companies in emerging Asia, led by Taiwan, South Korea, China and India. Its rules limit how much any one company can weigh. That matters because Taiwan Semiconductor alone was 14.8% of assets as of August 31, 2026. Its 0.49% fee is higher than the 0.33% average of similar funds.
Price history
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EEMA +13.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EEMA official prospectus, to Dec 31, 2024 | — | +10.71% | — | +2.22% | +4.19% | — |
| EEMA price data to Oct 27, 2026 | +15.5% | +13.5% | +23.4% | +6.5% | +8.7% | +6.6% |
- Over the year to Oct 27, 2026, EEMA returned +13.5%, 5th of 9 among similar funds.
- Its 5-year annualized return was +6.5% and its 10-year +8.7%.
- In the 2020 COVID crash it fell 27.8% and regained its old high 3.4 months after the low.
- Its worst full calendar year was 2022 (-21.5%); its best was 2017 (+43.4%).
- The deepest fall in its price history was 44.2% (Feb 17, 2021 to Oct 24, 2022), recovered by Sep 17, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.5% | — |
| 2025 | +33.3% | — |
| 2024 | +10.2% | +10.71% |
| 2023 | +6.6% | +6.98% |
| 2022 | -21.5% | -21.45% |
| 2021 | -4.2% | -4.19% |
| 2020 | +25.2% | +25.20% |
| 2019 | +18.6% | +18.36% |
| 2018 | -15.8% | -15.54% |
| 2017 | +43.4% | +41.94% |
| 2016 | +5.7% | +5.59% |
| 2015 | -11.4% | -9.83% |
| 2014 | +3.3% | — |
| 2013 | +1.7% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 27.8% over that stretch · deepest drop along the way 27.8%, back to its old high 3.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 31.2% over that stretch · deepest drop along the way 33.4%, back to its old high 23.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3400 | |
| 2025 | $1.3800 | +10.4% |
| 2024 | $1.2500 | -6.7% |
| 2023 | $1.3400 | +18.6% |
| 2022 | $1.1300 | -37.2% |
| 2021 | $1.8000 | +78.2% |
| 2020 | $1.0100 | -23.5% |
| 2019 | $1.3200 | 0.0% |
| 2018 | $1.3200 | +3.1% |
| 2017 | $1.2800 | +40.7% |
| 2016 | $0.9100 | -26.0% |
| 2015 | $1.2300 | +59.7% |
| 2014 | $0.7700 | -44.2% |
| 2013 | $1.3800 |
What's inside
As of Aug 31, 2026, the fund held 892 securities; the ten largest made up 34.29% of assets, and 2.66% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Taiwan Semiconductor Manufacturing Company Limited | 14.76% | |
| Samsung Electronics Co., Ltd. | 4.75% | |
| Tencent Holdings Limited | 3.47% | |
| SK hynix Inc. | 2.89% | |
| Alibaba Group Holding Limited | 2.38% | |
| MediaTek Inc. | 1.89% | |
| CHINA CONSTRUCTION BANK CORPORATION | 1.16% | |
| DELTA ELECTRONICS, INC. | 1.13% | |
| HON HAI PRECISION INDUSTRY CO., LTD. | 1.00% | |
| HDFC BANK LIMITED | 0.85% | |
| ICICI BANK LIMITED | 0.82% | |
| RELIANCE INDUSTRIES LIMITED | 0.80% | |
| SK Square Co., Ltd. | 0.70% | |
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED | 0.63% | |
| ASE Technology Holding Co., Ltd. | 0.62% |
By country
Taiwan 30.56%South Korea 17.43%China 16.1%India 15.82%Cayman Islands 13.5%By asset type
Stocks 96.74%Other 2.51%Preferred stock 0.09%What changed recently
- Over the three months to Aug 31, 2026, investors withdrew a net $448.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.15%, -4.79%, +4.47%.
How it works
EEMA tracks the MSCI EM Asia Custom Capped Index. MSCI built this index to measure stock markets in Asia's emerging countries, and MSCI, not BlackRock, decides which stocks it holds and how much each one weighs. As of August 31, 2025, the index covered eight markets: China, India, Indonesia, Malaysia, the Philippines, South Korea, Taiwan and Thailand. It holds large and mid-size companies.
The "capped" part is a set of limits. No single company can be more than 25% of the index. Also, all companies above 5% each can't add up to more than 25% together. To leave a buffer, MSCI trims at each quarterly rebalance to 22.5% for one company, and to 22.5% combined for those above 4.5%. Between reviews, the index rebalances at the end of any day when one company passes 22.5% or the group above 4.75% tops 24%.
BlackRock uses "representative sampling." That means it holds a sample of stocks built to behave like the index, rather than every stock in it. At least 80% of assets generally go into index stocks or depositary receipts (certificates that represent foreign shares). Up to 20% can go into futures, options, swaps, cash and other securities. As of August 31, 2026, the fund held 892 positions and 2.66% in cash. It may lend out up to one-third of its assets. Portfolio turnover was 17%. The fund doesn't try to beat the index or move to cash when markets fall.
What it really costs
- EEMA charges 0.49% a year, versus an average of 0.33% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $50 in the first year and $616 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EEMA | $50 | $157 | $274 | $616 |
In a retirement portfolio
It adds focused exposure to emerging Asian stocks, a single region with deep past drops and a heavy weight in Taiwan Semiconductor.
EEMA launched in 2012, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 27.8% and recovered in about 3.4 months. The 2022 bear market was harder. The fund dropped 33.4% and took about 24 months to recover, and 2022 was its worst calendar year at -21.5%. Its deepest decline, 44.2% from February 2021 to October 2022, took nearly 35 months to recover, finally doing so on September 17, 2025. Anyone who has to sell shares during a slump like that could be selling well below earlier highs. Income is modest: the trailing yield was 1.42% as of October 27, 2026, paid twice a year. The SEC's standard example puts the cost on $10,000 at $616 over 10 years. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want emerging Asia only, with Taiwan, South Korea, China and India making up most of the fund as of August 31, 2026.
- People comfortable with heavy chip-maker exposure: Taiwan Semiconductor, Samsung and SK hynix together made up about 22% of assets as of August 31, 2026.
- Investors who prefer low-turnover index tracking (17% turnover) and are fine with a twice-yearly payout yielding 1.42% as of October 27, 2026.
Look elsewhere if
- Cost-focused investors: broad emerging-market funds such as IEMG (0.09%) and VWO (0.07%) charge far less than EEMA's 0.49%.
- Anyone who may need to sell in a downturn: EEMA's 44.2% peak-to-trough drop took about 35 months to recover, ending September 2025.
- Investors who want emerging markets beyond Asia, or less weight in one company, may want to compare broader funds such as EEM or IEMG.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EEMA this fund | — | 0.49% | $877.0M | +13.5% | +23.4% |
| AAXJ iShares MSCI All Country Asia ex-Japan ETF | 79% | 0.72% | $3.72B | +15.1% | +23.3% |
| EEM iShares MSCI Emerging Markets ETF | 71% | 0.72% | $31.21B | +12.7% | +20.3% |
| EEMX SPDR MSCI Emerging Markets Fossil Fuel Free… | 69% | 0.3% | $181.2M | +15.3% | +23.6% |
| BKEM BNY Mellon Emerging Markets Equity ETF | 67% | 0.11% | $89.2M | +13.7% | +21.8% |
| GSEE Goldman Sachs MarketBeta Emerging Markets E… | 67% | 0.36% | $138.7M | +12.9% | +21.7% |
| EMXC iShares MSCI Emerging Markets ex China ETF | 64% | 0.25% | $24.92B | +27.3% | +24.6% |
| IEMG iShares Core MSCI Emerging Markets ETF | 63% | 0.09% | $160.90B | +11.7% | +19.8% |
Questions investors ask
What does EEMA invest in?
EEMA holds large and mid-size stocks from emerging Asian markets by tracking the MSCI EM Asia Custom Capped Index. As of August 31, 2026, Taiwan was about 30.6% of assets, South Korea 17.4%, China 16.1% and India 15.8%. Another 13.5% was in companies registered in the Cayman Islands, such as Tencent and Alibaba. The largest holdings were Taiwan Semiconductor (14.8%), Samsung Electronics (4.8%), Tencent (3.5%) and SK hynix (2.9%). The top 10 made up 34.3% of the fund.
What is EEMA's expense ratio?
EEMA's expense ratio is 0.49% a year, according to its prospectus filed December 19, 2025. Under the SEC's standard example, which assumes $10,000 invested and a 5% yearly return, that comes to about $50 after one year, $274 after five years and $616 after ten. The average for similar funds is 0.33%, and EEMA ranks 7th of 9 on cost. Broad emerging-market funds such as IEMG (0.09%) and VWO (0.07%) cost much less.
Does EEMA pay dividends?
Yes. EEMA pays dividends twice a year. Over the 12 months through October 27, 2026, it paid about $1.54 per share, a trailing yield of 1.42%. The fund's dividends come from the stocks it owns, so the amount can change from one payment to the next. With a yield that low, the fund is mainly about growth from Asian emerging-market stocks rather than steady income.
What's the difference between EEMA and AAXJ?
Both are iShares funds focused on Asian stocks, and their holdings overlapped by about 79%. EEMA covers emerging Asia only, while AAXJ tracks all of Asia except Japan. EEMA is cheaper at 0.49% versus 0.72%. As of October 27, 2026, AAXJ returned 15.1% over one year versus EEMA's 13.5%, and the two were nearly even over three years (23.3% versus 23.4% a year). AAXJ is larger, with $3.7 billion in assets as of July 31, 2026, versus EEMA's $877 million as of August 31, 2026.
How has EEMA performed over the long term?
EEMA's long-term results have been uneven. Its prospectus shows average yearly returns of 10.71% over one year, 2.22% over five years and 4.19% over ten years, all as of December 31, 2024. Based on price, it returned 6.5% a year over five years and 8.7% a year over ten years as of October 27, 2026. Calendar years have ranged from a 41.94% gain in 2017 to a 21.45% loss in 2022. The fund gained 33.25% in 2025.