EIS vs. HDEF

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Israel ETF (EIS) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF).

EIS and HDEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EIS is a passively managed fund by iShares that tracks the performance of the MSCI Israel Capped Investable Market Index (Net). It was launched on Mar 26, 2008. HDEF is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI EAFE High Dividend Yield US Dollar Hedged Index. It was launched on Aug 12, 2015. Both EIS and HDEF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EIS vs. HDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Israel ETF (EIS) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). The values are adjusted to include any dividend payments, if applicable.

EIS vs. HDEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIS iShares MSCI Israel ETF	7.71%	45.11%	34.50%	5.48%	-27.05%	22.83%	12.01%	20.93%	-4.84%	12.77%
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	5.22%	33.01%	2.85%	18.53%	-2.51%	6.95%	-1.90%	25.02%	-13.74%	9.89%

Returns By Period

In the year-to-date period, EIS achieves a 7.71% return, which is significantly higher than HDEF's 5.22% return. Over the past 10 years, EIS has outperformed HDEF with an annualized return of 11.08%, while HDEF has yielded a comparatively lower 8.88% annualized return.

EIS

• 1D: 2.13%
• 1M: -5.46%
• YTD: 7.71%
• 6M: 20.05%
• 1Y: 59.54%
• 3Y*: 31.40%
• 5Y*: 14.28%
• 10Y*: 11.08%

HDEF

• 1D: 0.15%
• 1M: -2.98%
• YTD: 5.22%
• 6M: 10.37%
• 1Y: 24.35%
• 3Y*: 16.78%
• 5Y*: 11.20%
• 10Y*: 8.88%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EIS vs. HDEF - Expense Ratio Comparison

EIS has a 0.59% expense ratio, which is higher than HDEF's 0.20% expense ratio.

EIS

iShares MSCI Israel ETF

HDEF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF

Return for Risk

EIS vs. HDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIS

EIS Risk / Return Rank: 96
EIS Sharpe Ratio Rank: 96
EIS Sortino Ratio Rank: 96
EIS Omega Ratio Rank: 93
EIS Calmar Ratio Rank: 97
EIS Martin Ratio Rank: 97

HDEF

HDEF Risk / Return Rank: 84
HDEF Sharpe Ratio Rank: 83
HDEF Sortino Ratio Rank: 83
HDEF Omega Ratio Rank: 85
HDEF Calmar Ratio Rank: 85
HDEF Martin Ratio Rank: 84

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.

EIS vs. HDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Israel ETF (EIS) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). 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.

	EIS	HDEF	Difference
Sharpe ratio Return per unit of total volatility	2.53	1.69	+0.85
Sortino ratio Return per unit of downside risk	3.40	2.26	+1.15
Omega ratio Gain probability vs. loss probability	1.44	1.35	+0.09
Calmar ratio Return relative to maximum drawdown	5.00	2.62	+2.37
Martin ratio Return relative to average drawdown	18.63	10.05	+8.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIS vs. HDEF - Sharpe Ratio Comparison

The current EIS Sharpe Ratio is 2.53, which is higher than the HDEF Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of EIS and HDEF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EIS	HDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	1.69	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.80	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.55	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.46	-0.15

Correlation

The correlation between EIS and HDEF is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EIS vs. HDEF - Dividend Comparison

EIS's dividend yield for the trailing twelve months is around 1.33%, less than HDEF's 3.60% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIS iShares MSCI Israel ETF	1.33%	1.44%	1.38%	1.39%	1.66%	1.04%	0.16%	2.06%	0.87%	2.02%	1.78%	2.55%
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	3.60%	3.88%	4.53%	4.38%	5.41%	4.76%	3.93%	4.20%	3.55%	3.38%	9.53%	1.87%

Drawdowns

EIS vs. HDEF - Drawdown Comparison

The maximum EIS drawdown since its inception was -51.94%, which is greater than HDEF's maximum drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for EIS and HDEF.

Drawdown Indicators

	EIS	HDEF	Difference
Max Drawdown Largest peak-to-trough decline	-51.94%	-36.43%	-15.51%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-9.28%	-3.12%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-23.63%	-18.25%
Max Drawdown (10Y) Largest decline over 10 years	-41.88%	-36.43%	-5.45%
Current Drawdown Current decline from peak	-5.82%	-4.57%	-1.25%
Average Drawdown Average peak-to-trough decline	-14.02%	-5.07%	-8.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	2.43%	+0.90%

Volatility

EIS vs. HDEF - Volatility Comparison

iShares MSCI Israel ETF (EIS) has a higher volatility of 9.63% compared to Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) at 4.91%. This indicates that EIS's price experiences larger fluctuations and is considered to be riskier than HDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIS	HDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.63%	4.91%	+4.72%
Volatility (6M) Calculated over the trailing 6-month period	15.80%	8.52%	+7.28%
Volatility (1Y) Calculated over the trailing 1-year period	23.66%	14.52%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.61%	14.10%	+7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	16.21%	+4.74%