GMF captures the emerging Asian markets well, offering a broad, marketlike portfolio that broadly aligns with our benchmark in terms of cap- and sector-weighting. Tech and finance lead the way here, comprising about half of GMF holdings, much as they do in the underlying markets. It's important to note that GMF does not include South Korea in its index, as many similar funds do, so in its place you'll find a significant geographic tilt toward China and, to a lesser extent, Taiwan. GMF is a segment leader in terms of liquidity, smaller investors can expect relatively tight and consistent spreads, supported by solid daily volume. Larger investors should also expect decent execution judging from adequate underlying volume and modest creation fees. GMF charges a competitive fee, and true holding costs are likely to be far lower thanks to tight tracking and solid fund management.