AEF abrdn Emerging Markets ex-China Fund, Inc.

XASE
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AEF — —
Key stats
About
Exchange
XASE
Market Cap
$0.3B
List Date
1990-01-12
CIK
0000846676
Homepage
https://www.aberdeenaef.com

ABERDEEN EMERGING MARKETS EQUITY INCOME FUND, INC. is a non-diversified closed-end, management investment company. Its investment objective is to seek to provide both current income and long-term capital appreciation. Under normal circumstances, the fund invests a majority of its net assets (plus any borrowings for investment purposes) in emerging markets (excluding China) equity securities. The performance of the fund is measured against the MSCI Emerging Markets ex-China Index. Its investment portfolio consists of equity securities from emerging market companies (excluding China), spanning m…

Fund profile
International Equity Single Country abrdn China Emerging Markets
Expense ratio
—
Assets
$347M
shares × price, Oct 21, 2026
Trailing yield
—
Average daily volume
$913K
30 sessions
Holdings
—
Listed
Jan 12, 1990
NYSE American
FrenzyCap ETF score
43
how it is built
Costn/a
Liquidity32
Scale57
Diversificationn/a

Moves with. Emerging markets over US (46% of its variance, beta 1.12); US large-cap stocks (33% of its variance, beta 1.22). These factors explain 77% of its daily moves over the last year.

Overlap toolAll Single Country ETFs

Similar funds
FundOverlapFeeAssets1Y
EMXCiShares MSCI Emerging Markets ex China ETF—0.25%$25.8B+31.9%compare
EWJiShares MSCI Japan ETF—0.49%$23.7B+14.6%compare
EWYiShares MSCI South Korea ETF—0.59%$23.1B+73.5%compare
BBJPJPMorgan BetaBuilders Japan ETF—0.19%$19.2B+12.1%compare
EWZiShares MSCI Brazil ETF—0.59%$13.9B+40.7%compare

The largest other funds in the Single Country category.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan0.61%-1.38%9.73%-4.66%2.50%10.10%2.82%
Feb1.88%-8.50%-11.13%4.13%-3.57%11.67%-0.92%
Mar-1.82%-4.78%2.10%-0.88%-1.98%-15.03%-3.73%
Apr-2.40%-15.09%-5.39%-0.99%4.23%22.27%0.44%
May3.95%-0.51%-1.19%1.78%4.78%7.07%2.65%
Jun-0.55%-5.96%1.37%1.17%8.59%-4.48%0.02%
Jul-3.44%-0.54%5.17%-0.19%1.51%-5.59%-0.51%
Aug1.04%-2.58%-4.64%3.74%1.16%7.42%1.02%
Sep-6.20%-12.09%-8.62%6.72%6.58%-1.56%-2.53%
Oct-0.24%-7.08%-6.16%-6.42%5.50%-11.03%*-4.24%
Nov-7.60%12.75%10.90%-2.24%-3.86%--1.99%
Dec-0.75%-1.53%3.86%-0.95%4.17%--0.96%
Total-14.99%-40.02%-6.54%0.45%32.86%16.04%-2.03%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $9.16
SMA 50: $9.43
SMA 200: $8.82
Current: $8.32
EMA 12: $8.83
EMA 26: $9.11
MACD: -0.2878 | Signal: -0.0983
BEARISH
ADX (14): 38.56
TREND
+DI: 9.40
−DI: 51.78

Momentum Oscillators

RSI (14): 26.54
OVERSOLD
Stoch %K: 18.29
Stoch %D: 23.34
Williams %R: -92.53

Volume & Volatility

BB Upper: $10.05
BB Lower: $8.27
NEUTRAL
OBV: 9,499,698
Vol SMA 20: 89,156
Vol ROC: -44.83%
ATR: $0.22
True Range: $0.25
HV 20: 24.6%
HV 30: 26.7%
HV 60: 30.8%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

LLM Stock Analysis Report: AEF

Executive Summary

Overall Assessment: NEUTRAL (confidence level: 7/10)

Key Drivers:

  • Bullish technical momentum signals, including MACD and EMA crossovers
  • Neutral RSI reading suggests consolidation rather than a strong trend
  • High volatility and beta suggest increased risk

Primary Risks:

  • Volatility-driven price swings
  • Potential for mean reversion if overbought conditions persist

Investment Thesis: AEF's recent price action has been driven by technical momentum, which may continue in the near term. However, the stock's high volatility and beta create a significant risk profile that investors should carefully consider.

Recent News Sentiment Impact: The neutral sentiment from recent news headlines does not strongly impact the analysis, as the technical signals remain the primary drivers of price action.

Technical Analysis

Trend Direction:

  • Short-term: Uptrend (1-4 weeks)
  • Medium-term: Consolidation (1-3 months)
  • Long-term: Downtrend (3-12 months)

Support/Resistance Levels: Key levels to monitor include $9.15 (SMA 50) and $8.40 (SMA 200).

Momentum Signals:

  • RSI: 63.12 (neutral)
  • MACD: Bullish (0.16 / Signal: 0.03 / Histogram: 0.13)
  • Bollinger Bands: Neutral signal

Volume Analysis: Volume trends suggest institutional interest, with a volume rate of change of 91.22%. On-Balance Volume (OBV) is also supportive.

News & Sentiment Analysis

Recent Headlines Summary: Neutral news headlines from Seeking Alpha discussing CEFs do not strongly impact the analysis.

Sentiment Assessment: Neutral sentiment aligns with the technical signals, suggesting a consolidation phase rather than a strong trend.

Catalyst Identification: No recent earnings or major product launches have occurred. Regulatory changes or sector performance shifts may influence price action in the near term.

Market Narrative: The neutral news sentiment does not strongly contradict the technical signals, which suggest a range-bound market with potential for mean reversion.

Risk & Volatility Assessment

Beta Interpretation: High beta (1.72) suggests increased risk relative to the broader market.

Volatility Regime: Current volatility is higher than historical levels, suggesting increased uncertainty.

Options Market Signals: No options data available.

Downside Protection: Support levels at $9.15 (SMA 50) and $8.40 (SMA 200) should be monitored.

Market Context & Positioning

Sector Performance: AEF's sector performance is neutral, with no significant trends or shifts.

Institutional Activity: Volume patterns suggest institutional interest, which may support the stock's recent price action.

Correlation Analysis: The stock has a high correlation (0.70) with the broader market, suggesting increased risk.

Relative Valuation: AEF's relative valuation suggests it is trading within its normal range.

Key Levels & Action Items

Critical Price Levels: $9.15 (SMA 50), $8.40 (SMA 200)

Breakout/Breakdown Levels: $9.85 (Upper Bollinger Band), $9.00 (Lower Bollinger Band)

Time-Sensitive Catalysts: No immediate earnings or product launches are scheduled.

Risk Management: Stop-loss levels at $8.50 and position sizing considerations should be carefully evaluated based on the stock's high volatility.

Generated
News
All AEF news →

AEF Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 1.7579
Alpha: 2.27%
Correlation: 0.6908
R-Squared: 47.7%
Stock Volatility: 32.4%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own AEF
2 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Rockefeller Capital Management Family office
Rockefeller family
$223K
0.00%
#2546 of 4729+1.0%13F
Millennium Management Hedge fund
Izzy Englander
$121K
0.00%
#3588 of 3716-77.6%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

AEF Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

60 filers19,643,052 shares$188.52M value
# Filer Shares Value % of Total % of Float Period
1 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 10,493,864 $100.74M 53.44% — 2026-06-30
2 Allspring Global Investments Holdings, LLC 2,360,680 $22.66M 12.02% — 2026-06-30
3 Morgan Stanley Custodian 1,749,028 $16.79M 8.91% — 2026-06-30
4 LAZARD ASSET MANAGEMENT LLC 1,101,112 $10.57M 5.61% — 2026-06-30
5 1607 Capital Partners, LLC 793,245 $7.62M 4.04% — 2026-06-30
6 Raymond James Financial, Inc. Custodian 739,497 $7.10M 3.77% — 2026-06-30
7 Uncommon Cents Investing LLC 322,126 $3.09M 1.64% — 2026-06-30
8 LPL Financial LLC Custodian 267,064 $2.56M 1.36% — 2026-06-30
9 Bank of America Corp Custodian 218,959 $2.10M 1.11% — 2026-06-30
10 GUGGENHEIM CAPITAL LLC 175,891 $1.69M 0.90% — 2026-06-30
11 Shaker Financial Services, LLC 169,459 $1.60M 0.85% — 2026-09-30
12 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 149,520 $1.44M 0.76% — 2026-06-30
13 Steward Partners Investment Advisory, LLC 145,589 $1.40M 0.74% — 2026-06-30
14 EVOLVE PRIVATE WEALTH, LLC 107,573 $1.03M 0.55% — 2026-06-30
15 Vanguard Capital Wealth Advisors 92,054 $869.91K 0.46% — 2026-09-30
16 Invesco Ltd. Custodian 71,517 $686.56K 0.36% — 2026-06-30
17 WOLVERINE ASSET MANAGEMENT LLC 65,480 $628.61K 0.33% — 2026-06-30
18 Closed-End Fund Advisors, Inc. 63,820 $612.67K 0.33% — 2026-06-30
19 XTX Topco Ltd 57,573 $552.70K 0.29% — 2026-06-30
20 COMMONWEALTH EQUITY SERVICES, LLC 49,906 $479.10K 0.25% — 2026-06-30
21 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 47,158 $452.72K 0.24% — 2026-06-30
22 Jane Street Group, LLC Custodian 40,381 $387.66K 0.21% — 2026-06-30
23 UHLMANN PRICE SECURITIES, LLC 30,688 $294.61K 0.16% — 2026-06-30
24 Cetera Investment Advisers Custodian 25,711 $246.83K 0.13% — 2026-06-30
25 &PARTNERS 23,710 $227.62K 0.12% — 2026-06-30
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period

AEF Insider Trading (Form 4)

Latest: 2026-10-06
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-06 Anthony S. Clark Director Buy (P) +2,000 $9.73 $19.5K EDGAR
2026-09-25 Anthony S. Clark Director Buy (P) +4,500 $9.63 $43.3K EDGAR
2026-01-02 Anthony S. Clark Director Buy (P) +1,500 $7.20 $10.8K EDGAR
2025-06-11 Nancy Yao Director Buy (P) +1,000 $5.40 $5.4K EDGAR
2025-03-06 Steven N Rappaport Director Disp (D) −31,757 $6.07 -$192.8K EDGAR
2024-08-27 Bill Maher Director Buy (P) +931 $5.37 $5.0K EDGAR
2024-08-16 Bill Maher Director Buy (P) +1,000 $5.25 $5.2K EDGAR
2021-04-28 Rahn K Porter Director Buy (P) +5,793 $8.64 $50.0K EDGAR
2021-04-26 Bill Maher Director Buy (P) +7,000 $8.59 $60.1K EDGAR
2021-04-21 Bill Maher Director Mixed — $8.63 $611 EDGAR
2019-07-22 Lawrence Joseph Fox Director Sell (S) −18,383 $7.86 -$144.5K EDGAR
2019-05-22 Lawrence Joseph Fox Director Other (J) +17,104 — EDGAR
2018-10-24 Nancy Yao Maasbach Director Buy (P) +100 $6.46 $646 EDGAR
2018-10-15 Nancy Yao Maasbach Director Buy (P) +400 $6.44 $2.6K EDGAR
2018-09-12 Nancy Yao Maasbach Director Buy (P) +500 $6.55 $3.3K EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

AEF Insider Holdings

3 insiders · @ $8.32
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Steven N Rappaport Director 83,197 $692.6K $0 1 2025-03-06
2 Anthony S. Clark Director 8,000 $66.6K $73.6K 3 2026-10-06
3 Nancy Yao Director 2,000 $16.6K $11.9K 4 2025-06-11
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
ETF Holders
7 ETFs hold AEF
7 shown · $8.00M total exposure · 0.02% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VXUS Vanguard Total International Stock ETF Vanguard 0.00% $3.8M — 2026-09-30
2 VEA Vanguard FTSE Developed Markets ETF Vanguard 0.00% $2.4M — 2026-09-30
3 VSS Vanguard FTSE All-World EX-US Small-Cap Index Fund Vanguard 0.01% $1.0M — 2026-09-30
4 VPL Vanguard FTSE Pacific ETF Vanguard 0.00% $308,646 — 2026-09-30
5 GWX State Street® SPDR® S&P® International Small Cap ETF SPDR (State Street) 0.02% $206,154 $899.5M 2026-10-20
6 VT Vanguard Total World Stock ETF Vanguard 0.00% $186,117 — 2026-09-30
7 VSGX Vanguard ESG International Stock ETF Vanguard 0.00% $48,336 — 2026-10-20
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.