BREE vs. HEEM
BREE (MFS Blended Research Emerging Markets Equity ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. BREE is actively managed, while HEEM is passively managed. With a 0.96 correlation, they move nearly in lockstep. BREE charges 0.44%/yr vs 0.72%/yr for HEEM.
Performance
BREE vs. HEEM - Performance Comparison
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Returns By Period
BREE
- 1D
- 0.17%
- 1M
- 4.06%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEEM
- 1D
- -0.11%
- 1M
- 3.00%
- YTD
- 25.92%
- 6M
- 26.65%
- 1Y
- 52.14%
- 3Y*
- 25.76%
- 5Y*
- 9.63%
- 10Y*
- 11.33%
BREE vs. HEEM - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BREE MFS Blended Research Emerging Markets Equity ETF | 9.63% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 15.95% |
Correlation
The correlation between BREE and HEEM is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 5, 2026 | 0.96 |
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Return for Risk
BREE vs. HEEM — Risk / Return Rank
BREE
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HEEM
BREE vs. HEEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Blended Research Emerging Markets Equity ETF (BREE) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BREE | HEEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.50 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.84 | — |
| Martin ratioReturn relative to average drawdown | — | 17.93 | — |
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Drawdowns
BREE vs. HEEM - Drawdown Comparison
The maximum BREE drawdown since its inception was -12.31%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for BREE and HEEM.
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Drawdown Indicators
| BREE | HEEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.31% | -33.53% | +21.22% |
Max Drawdown (1Y)Largest decline over 1 year | — | -10.83% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -5.12% | -5.51% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -11.10% | +7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.92% | — |
Volatility
BREE vs. HEEM - Volatility Comparison
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Volatility by Period
| BREE | HEEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 11.87% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 18.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.31% | 20.56% | +12.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.31% | 17.64% | +15.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.31% | 18.20% | +15.11% |
BREE vs. HEEM - Expense Ratio Comparison
BREE has a 0.44% expense ratio, which is lower than HEEM's 0.72% expense ratio.
Dividends
BREE vs. HEEM - Dividend Comparison
BREE has not paid dividends to shareholders, while HEEM's dividend yield for the trailing twelve months is around 3.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BREE MFS Blended Research Emerging Markets Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.16% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
Frequently Asked Questions
With a correlation of 0.96, BREE and HEEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BREE is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BREE is cheaper with a 0.44% expense ratio, compared with 0.72% for HEEM.
HEEM has the higher dividend yield at 3.16%, compared with 0.00% for BREE.
They also come from different issuers: MFS and iShares. Their fees differ too: 0.44% for BREE and 0.72% for HEEM.
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