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ISIN
US46434G5099
CUSIP
46434G509
Issuer
iShares
Inception Date
Sep 23, 2014
Region
Emerging Markets (Broad)
Leveraged
1x (No leverage)
Index Tracked
MSCI Emerging Markets 100% USD Hedged Index
Domicile
United States
Distribution Policy
Distributing
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Blend
Assets Under Management
$296M

Share Price Chart


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Performance

HEEM Performance Chart

iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) is up 33.3% since the beginning of the year. HEEM is currently trading at $46 per share. Investors who bought $1,000 worth of HEEM shares 5 years ago would now be looking at an investment worth $1,700.


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S&P 500 Index

Returns By Period

iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) has returned 33.26% so far this year and 65.45% over the past 12 months. Over the last ten years, HEEM has returned 11.96% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.


iShares Currency Hedged MSCI Emerging Markets ETF

1D
0.46%
1M
9.01%
YTD
33.26%
6M
34.02%
1Y
65.45%
3Y*
28.15%
5Y*
11.19%
10Y*
11.96%

Benchmark (S&P 500 Index)

1D
-0.37%
1M
-0.01%
YTD
9.16%
6M
8.64%
1Y
25.22%
3Y*
19.78%
5Y*
11.99%
10Y*
13.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HEEM Monthly Returns History

Based on dividend-adjusted daily data since Sep 25, 2014, HEEM's average daily return is +0.04%, while the average monthly return is +0.80%. At this rate, an investment would double in approximately 7.2 years.

Historically, 56% of months were positive and 44% were negative. The best month was Nov 2022 with a return of +12.2%, while the worst month was Mar 2020 at -13.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 10 months.

On a daily basis, HEEM closed higher 52% of trading days. The best single day was Mar 16, 2022 with a return of +7.7%, while the worst single day was Mar 12, 2020 at -10.7%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20268.26%5.18%-6.72%11.27%7.41%4.97%33.26%
20252.64%-0.29%1.52%-1.57%3.22%5.49%2.54%2.94%6.93%3.96%-0.94%3.55%34.02%
2024-3.13%3.91%3.69%0.83%1.83%2.89%1.01%0.11%4.41%-1.53%-1.59%-0.19%12.59%
20238.07%-5.49%2.60%-0.50%-1.81%4.48%4.99%-5.40%-2.19%-3.02%6.33%2.78%10.14%
2022-0.09%-3.25%-3.89%-3.81%-0.11%-3.18%-0.20%-0.32%-9.20%-1.59%12.18%-3.52%-16.85%
20213.97%1.00%-0.06%0.28%0.77%1.43%-5.93%1.42%-2.90%0.82%-3.64%1.42%-1.82%

Benchmark Metrics

iShares Currency Hedged MSCI Emerging Markets ETF has an annualized alpha of 0.64%, beta of 0.75, and R2 of 0.54 versus S&P 500 Index. Calculated based on daily prices since September 25, 2014.

  • This ETF participated in 64.29% of S&P 500 Index downside but only 62.17% of its upside - more exposed to losses than it benefited from rallies.

Alpha
0.64%
Beta
0.75
0.54
Upside Capture
62.17%
Downside Capture
64.29%

Expense Ratio

HEEM has an expense ratio of 0.72%, placing it in the medium range.


Return for Risk

Risk / Return Rank

HEEM ranks 93 for risk / return — in the top 93% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.


HEEM Risk / Return Rank: 9393
Overall Rank
HEEM Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
HEEM Sortino Ratio Rank: 9292
Sortino Ratio Rank
HEEM Omega Ratio Rank: 9393
Omega Ratio Rank
HEEM Calmar Ratio Rank: 9393
Calmar Ratio Rank
HEEM Martin Ratio Rank: 9393
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) and compare them to S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.


HEEMBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

+1.30

Sortino ratioReturn per unit of downside risk

+1.43

Omega ratioGain probability vs. loss probability

1.63

1.37

+0.26

Calmar ratioReturn relative to maximum drawdown

6.07

2.78

+3.29

Martin ratioReturn relative to average drawdown

22.82

12.44

+10.38

Dividends

Dividend History

iShares Currency Hedged MSCI Emerging Markets ETF provided a 2.98% dividend yield over the last twelve months, with an annual payout of $1.38 per share.


1.00%2.00%3.00%4.00%5.00%6.00%7.00%$0.00$0.50$1.00$1.5020152016201720182019202020212022202320242025
Dividends
Dividend Yield
PeriodTTM20252024202320222021202020192018201720162015
Dividend$1.38$1.38$0.64$0.68$1.72$0.57$0.46$0.80$0.54$0.54$0.39$1.26

Dividend yield

2.98%3.98%2.38%2.75%7.49%1.93%1.49%3.04%2.37%2.05%1.84%6.28%

Monthly Dividends

The table displays the monthly dividend distributions for iShares Currency Hedged MSCI Emerging Markets ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2025$0.00$0.00$0.00$0.00$0.00$0.00$0.28$0.00$0.00$0.00$0.00$1.10$1.38
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.18$0.00$0.00$0.00$0.00$0.46$0.64
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.20$0.00$0.00$0.00$0.00$0.47$0.68
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.23$0.00$0.00$0.00$0.00$1.49$1.72
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.14$0.00$0.00$0.00$0.00$0.43$0.57

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the iShares Currency Hedged MSCI Emerging Markets ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the iShares Currency Hedged MSCI Emerging Markets ETF was 33.53%, occurring on Oct 24, 2022. Recovery took 672 trading sessions.


Related event

Drawdown

Fall

Recovery

Underwater

Bear market2022
-33.53%Oct 2022
1y 8mo2y 8mo
4y 4moFeb 2021 - Jul 2025
COVID crash2020
-28.81%Mar 2020
2y 1mo4mo 15d
2y 6moJan 2018 - Aug 2020
2016 bear market2016
-27.59%Jan 2016
8mo 27d1y 5mo
2y 2moApr 2015 - Jul 2017
2026 correction2026
-10.83%Mar 2026
1mo 2d18d
1mo 20dFeb 2026 - Apr 2026
2014 pullback2014
-8.71%Dec 2014
22d1mo 7d
1mo 29dNov 2014 - Jan 2015

Drawdown Indicators


HEEMBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-33.53%

-56.78%

+23.25%

Max Drawdown (1Y)

Largest decline over 1 year

-10.83%

-9.10%

-1.73%

Max Drawdown (3Y)

Largest decline over 3 years

-14.82%

-18.90%

+4.08%

Max Drawdown (5Y)

Largest decline over 5 years

-30.60%

-25.43%

-5.17%

Max Drawdown (10Y)

Largest decline over 10 years

-33.53%

-33.92%

+0.39%

Current Drawdown

Current decline from peak

0.00%

-1.80%

+1.80%

Average Drawdown

Average peak-to-trough decline

-11.10%

-10.71%

-0.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.03%

+0.85%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

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