HDEF vs. BKIE

Last updated Jun 5, 2026

HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and BKIE (BNY Mellon International Equity ETF) are both Foreign Large Cap Equities funds - HDEF tracks the MSCI EAFE High Dividend Yield US Dollar Hedged Index while BKIE tracks the Morningstar Developed Markets ex-US Large Cap Index. Both are passively managed. Over the past 5 years, HDEF returned 10.01%/yr vs 9.22%/yr for BKIE. Their correlation of 0.89 suggests significant overlap in exposure. HDEF charges 0.20%/yr vs 0.04%/yr for BKIE.

Performance

HDEF vs. BKIE - Performance Comparison

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

Returns By Period

In the year-to-date period, HDEF achieves a 4.87% return, which is significantly lower than BKIE's 9.30% return.

HDEF

• 1D: 0.84%
• 1M: -1.49%
• YTD: 4.87%
• 6M: 7.11%
• 1Y: 16.55%
• 3Y*: 16.85%
• 5Y*: 10.01%
• 10Y*: 8.59%

BKIE

• 1D: 0.78%
• 1M: 2.61%
• YTD: 9.30%
• 6M: 11.55%
• 1Y: 23.04%
• 3Y*: 17.90%
• 5Y*: 9.22%
• 10Y*: —

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

HDEF vs. BKIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	4.87%	33.01%	2.85%	18.53%	-2.51%	6.95%	27.48%
BKIE BNY Mellon International Equity ETF	9.30%	32.08%	4.63%	18.25%	-13.60%	13.75%	34.17%

Correlation

The correlation between HDEF and BKIE is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020	0.89

The correlation between HDEF and BKIE shifts across timeframes, from 0.78 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

HDEF vs. BKIE - Sectors Allocation Comparison

Sectors	HDEF	BKIE
Financial Services	26.9%	25.8%
Consumer Defensive	17.9%	6.2%
Healthcare	14.0%	9.1%
Energy	13.8%	5.9%
Industrials	8.8%	18.6%
Utilities	8.4%	3.7%
Communication Services	4.0%	4.2%
Consumer Cyclical	3.9%	7.3%
Real Estate	0.9%	2.0%
Basic Materials	0.7%	7.2%
Technology	0.6%	10.1%

Return for Risk

HDEF vs. BKIE — Risk / Return Rank

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

HDEF

HDEF Risk / Return Rank: 41
HDEF Sharpe Ratio Rank: 41
HDEF Sortino Ratio Rank: 40
HDEF Omega Ratio Rank: 41
HDEF Calmar Ratio Rank: 43
HDEF Martin Ratio Rank: 41

BKIE

BKIE Risk / Return Rank: 45
BKIE Sharpe Ratio Rank: 46
BKIE Sortino Ratio Rank: 46
BKIE Omega Ratio Rank: 45
BKIE Calmar Ratio Rank: 41
BKIE Martin Ratio Rank: 48

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.

HDEF vs. BKIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and BNY Mellon International Equity ETF (BKIE). 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.

	HDEF	BKIE	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.59	-0.16
Sortino ratio: Return per unit of downside risk	2.01	2.26	-0.26
Omega ratio: Gain probability vs. loss probability	1.26	1.28	-0.02
Calmar ratio: Return relative to maximum drawdown	2.07	2.03	+0.04
Martin ratio: Return relative to average drawdown	6.36	7.83	-1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDEF vs. BKIE - Sharpe Ratio Comparison

The current HDEF Sharpe Ratio is 1.42, which is comparable to the BKIE Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of HDEF and BKIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HDEF	BKIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.59	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.57	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.92	-0.47

Drawdowns

HDEF vs. BKIE - Drawdown Comparison

The maximum HDEF drawdown since its inception was -36.43%, which is greater than BKIE's maximum drawdown of -28.19%. Use the drawdown chart below to compare losses from any high point for HDEF and BKIE.

Drawdown Indicators

	HDEF	BKIE	Difference
Max Drawdown Largest peak-to-trough decline	-36.43%	-28.19%	-8.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-11.41%	+3.38%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-13.19%	+2.04%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-28.19%	+4.56%
Max Drawdown (10Y) Largest decline over 10 years	-36.43%	—	—
Current Drawdown Current decline from peak	-4.89%	-0.56%	-4.33%
Average Drawdown Average peak-to-trough decline	-5.04%	-4.98%	-0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.95%	-0.34%

Volatility

HDEF vs. BKIE - Volatility Comparison

The current volatility for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) is 3.72%, while BNY Mellon International Equity ETF (BKIE) has a volatility of 4.31%. This indicates that HDEF experiences smaller price fluctuations and is considered to be less risky than BKIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDEF	BKIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.31%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	12.19%	-2.97%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	14.58%	-2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	16.12%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	16.33%	-0.09%

HDEF vs. BKIE - Expense Ratio Comparison

HDEF has a 0.20% expense ratio, which is higher than BKIE's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HDEF vs. BKIE - Dividend Comparison

HDEF's dividend yield for the trailing twelve months is around 3.62%, more than BKIE's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKIE BNY Mellon International Equity ETF	3.24%	3.12%	3.31%	2.88%	2.97%	2.58%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	3.62%	3.88%	4.53%	4.38%	5.41%	4.76%	3.93%	4.20%	3.55%	3.38%	9.53%	1.87%

Frequently Asked Questions

Can I hold both HDEF and BKIE in my portfolio?

HDEF and BKIE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDEF or BKIE?

BKIE has higher volatility (4.31%) compared to HDEF (3.72%). In terms of maximum drawdown, HDEF dropped -36.43% vs BKIE's -28.19%.

Which ETF is better, HDEF or BKIE?

On 5-year performance, HDEF leads with 10.01% vs 9.22% for BKIE. On fees, BKIE is cheaper at 0.04% per year. On volatility, HDEF has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDEF or BKIE?

Over the 5-year period, HDEF has performed better with a 10.01% return vs 9.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDEF or BKIE?

BKIE is cheaper with a 0.04% expense ratio, compared with 0.20% for HDEF.

Which ETF pays a higher dividend yield, HDEF or BKIE?

HDEF has the higher dividend yield at 3.62%, compared with 3.24% for BKIE.

What is the main difference between HDEF and BKIE?

HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while BKIE tracks Morningstar Developed Markets ex-US Large Cap Index. They also come from different issuers: Deutsche Bank and BNY Mellon. Their fees differ too: 0.20% for HDEF and 0.04% for BKIE.

Which has better risk-adjusted returns?

BKIE currently has the higher Sharpe Ratio (1.59 vs 1.42), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.