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You only need a small piece of EM- these are TINY companies and countries.
In the US a large cap is probably greater than 10 billion in market cap
a US mid cap is probably between 3 and 10 billion in market cap
a US small cap is probably less than 3 billion in market cap
most established foreign markets will use similar market caps.
with emerging markets you could be dealing with an entire COUNTRY whose GDP is less than 1 billion, and many companies which might have a market cap of 500 MILLION.
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A little research shows the Emerging Markets is not equal to Foreign small caps. The average market cap of Vanguard Emerging Markets fund is $18 billion (data from Morningstar). These are NOT TINY companies and China, Brazil, Russia and India are NOT TINY countries.
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