At the sector level, technology and financial services names dominate GMF, combining for 52% of the fund’s weight. Those are the only sectors to receive double-digit weights in the ETF. While the combination of large China exposure and a hefty financial services weight may imply excessive exposure to state-run banks, GMF uses an almost equal-weight approach so no individual holding accounts for more than 4% of the ETF’s weight. [Equal-Weight With Emerging Markets ETFs]
The fund also offers exposure to some of the more glamorous large-cap tech names, including Tencent and Baidu (NasdaqGS: BIDU), China’s largest Internet and Internet search firms, respectively. Taiwan Semiconductor (NYSE: TSM), a major parts supplier to Apple (NasdaqGS: AAPL), is GMF’s largest holding.
SPDR S&P Emerging Asia Pacific ETF
Tom Lydon’s clients own shares of Apple and EEM.