iShares MSCI Emerging Markets Min Vol Factor ETF

The iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) tracks the MSCI Emerging Markets Minimum Volatility (USD) Index. The index holds emerging-market stocks chosen and weighted so that, together, their prices swing less than the broader market. EEMV's 0.25% expense ratio is below the 0.38% average of similar funds but well above the 0.09% of iShares Core MSCI Emerging Markets ETF (IEMG). It has also lagged broader emerging-market funds during strong rallies.

• Over the year to Oct 27, 2026, EEMV returned +12.4%, 8th of 9 among similar funds.
• Its 5-year annualized return was +5.4% and its 10-year +5.8%.
• In the 2020 COVID crash it fell 25% and regained its old high 4.8 months after the low.
• Its worst full calendar year was 2022 (-13.9%); its best was 2017 (+27.3%).
• The deepest fall in its price history was 31.6% (Jan 26, 2018 to Mar 23, 2020), recovered by Dec 29, 2020.

As of Aug 31, 2026, the fund held 317 securities; the ten largest made up 16.57% of assets. It also reported 3.39% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Aug 31, 2026, investors withdrew a net $59.2M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.59%, -5.04%, +6.12%.

EEMV tracks an index built by MSCI. MSCI starts with the MSCI Emerging Markets Index, which holds large and mid-size companies weighted by market value. It then uses a risk model and an optimizer to find the mix of those stocks with the lowest expected volatility, meaning the smallest price swings. Limits cap how much any one stock, sector or country can hold. Traits such as trading volume and debt levels are also kept within set ranges.

Weights come from that math, not from company size, so the list can look unusual. As of August 31, 2026, the largest holding was Taiwan's King Slide Works at 2.44%. Next came Samsung Electro-Mechanics at 2.25%. Taiwan Semiconductor Manufacturing was 1.51%. The top 10 made up 16.57% of 317 holdings, led by Taiwan, China, South Korea and India.

MSCI rebuilds the index every quarter, and each rebuild can change no more than 5% of the portfolio. BlackRock Fund Advisors uses representative sampling, so the fund may not own every stock in the index. It keeps at least 80% of assets in index stocks or depositary receipts (certificates that represent foreign shares). Up to 20% can go into futures, options, swaps and cash. The fund may also lend out securities worth up to one-third of its assets.

• EEMV charges 0.25% a year, versus an average of 0.38% for the similar funds below (3rd of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $318 over 10 years (assuming a 5% annual return).

It adds emerging-market stocks with a lower-volatility tilt to a portfolio that may be mostly US holdings, but it still has the deep drops that come with stocks.

EEMV could add emerging-market stocks to a US-heavy portfolio with a tilt toward steadier companies, but its swings are still large. It launched in October 2011, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 25% and had recovered by August 2020. In 2022 it dropped 21.5% and took about 23 months to recover. Its 14.1% loss in 2022 was its worst calendar year. Its deepest drop was 31.6%, from January 2018 to March 2020, and it had recovered by December 2020. Selling shares to cover spending during stretches like these would lock in losses.

The trailing 12-month yield was 2.24% as of October 27, 2026, and the fund pays twice a year. In the SEC's standard example, a $10,000 investment costs about $26 in the first year and $318 over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.