Vanguard Emerging Markets Ex-China ETF offers broad EM exposure excluding China, with a 0.07% expense ratio and 1,018 holdings. VEXC is heavily concentrated in Taiwan (37.7% of assets), especially TSM (21.8%), creating significant country- and company-specific risk. The fund underperforms peer ex-China EM ETFs over its 7-month track record but stands out for its ultra-low fees.