HEDJ vs. BTMKX
HEDJ (WisdomTree Europe Hedged Equity Fund) and BTMKX (iShares MSCI EAFE International Index Fund) are both funds - HEDJ is a Europe Equities fund tracking the WisdomTree Europe Hedged Equity Index, while BTMKX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index. Both are passively managed. Over the past 10 years, HEDJ returned 10.96%/yr vs 9.67%/yr for BTMKX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. HEDJ charges 0.58%/yr vs 0.05%/yr for BTMKX.
Performance
HEDJ vs. BTMKX - Performance Comparison
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Returns By Period
In the year-to-date period, HEDJ achieves a 8.59% return, which is significantly lower than BTMKX's 12.75% return. Over the past 10 years, HEDJ has outperformed BTMKX with an annualized return of 10.96%, while BTMKX has yielded a comparatively lower 9.67% annualized return.
HEDJ
- 1D
- -0.87%
- 1M
- -0.79%
- 6M
- 6.02%
- YTD
- 8.59%
- 1Y
- 21.05%
- 3Y*
- 13.72%
- 5Y*
- 10.78%
- 10Y*
- 10.96%
- ALL TIME*
- 8.89%
BTMKX
- 1D
- 2.73%
- 1M
- 2.01%
- 6M
- 7.32%
- YTD
- 12.75%
- 1Y
- 26.32%
- 3Y*
- 16.53%
- 5Y*
- 9.68%
- 10Y*
- 9.67%
- ALL TIME*
- 6.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.72M | $3.36M | $5.37M |
HEDJ vs. BTMKX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEDJ WisdomTree Europe Hedged Equity Fund | 8.59% | 23.55% | 5.28% | 26.89% | -10.09% | 23.54% | -3.35% | 27.50% | -9.27% | 13.51% |
BTMKX iShares MSCI EAFE International Index Fund | 12.75% | 31.70% | 3.70% | 18.37% | -14.04% | 11.30% | 8.07% | 21.96% | -13.38% | 25.17% |
Correlation
The correlation between HEDJ and BTMKX is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.79 |
The correlation between HEDJ and BTMKX has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
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Return for Risk
HEDJ vs. BTMKX — Risk / Return Rank
HEDJ
BTMKX
HEDJ vs. BTMKX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Hedged Equity Fund (HEDJ) and iShares MSCI EAFE International Index Fund (BTMKX). 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.
| HEDJ | BTMKX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.29 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 2.22 | -0.67 |
| Martin ratioReturn relative to average drawdown | 6.28 | 8.38 | -2.10 |
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Drawdowns
HEDJ vs. BTMKX - Drawdown Comparison
The maximum HEDJ drawdown since its inception was -38.18%, which is greater than BTMKX's maximum drawdown of -33.92%. Use the drawdown chart below to compare losses from any high point for HEDJ and BTMKX.
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Drawdown Indicators
| HEDJ | BTMKX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.18% | -33.92% | -4.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -11.30% | -0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -15.93% | -13.66% | -2.27% |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | -29.23% | +7.06% |
Max Drawdown (10Y)Largest decline over 10 years | -38.18% | -33.92% | -4.26% |
Current DrawdownCurrent decline from peak | -1.22% | 0.00% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -7.70% | +1.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.98% | -0.06% |
Volatility
HEDJ vs. BTMKX - Volatility Comparison
The current volatility for WisdomTree Europe Hedged Equity Fund (HEDJ) is 4.39%, while iShares MSCI EAFE International Index Fund (BTMKX) has a volatility of 4.73%. This indicates that HEDJ experiences smaller price fluctuations and is considered to be less risky than BTMKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEDJ | BTMKX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 4.73% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 13.46% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.74% | 15.84% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 16.31% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.15% | 16.41% | +1.74% |
HEDJ vs. BTMKX - Expense Ratio Comparison
HEDJ has a 0.58% expense ratio, which is higher than BTMKX's 0.05% expense ratio.
Dividends
HEDJ vs. BTMKX - Dividend Comparison
HEDJ's dividend yield for the trailing twelve months is around 1.79%, less than BTMKX's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTMKX iShares MSCI EAFE International Index Fund | 3.32% | 3.74% | 3.43% | 3.19% | 2.80% | 3.06% | 1.99% | 3.34% | 4.58% | 2.45% | 2.85% | 2.42% |
HEDJ WisdomTree Europe Hedged Equity Fund | 1.79% | 1.63% | 3.28% | 3.31% | 2.83% | 2.08% | 2.65% | 1.82% | 2.73% | 2.27% | 2.74% | 9.43% |
Frequently Asked Questions
HEDJ and BTMKX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTMKX has higher volatility (4.73%) compared to HEDJ (4.39%). In terms of maximum drawdown, HEDJ dropped -38.18% vs BTMKX's -33.92%.
BTMKX currently has the higher Sharpe Ratio (1.58 vs 1.17), 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.
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