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HEDJ vs. FDD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HEDJ vs. FDD

Last updated Jun 24, 2026

HEDJ (WisdomTree Europe Hedged Equity Fund) and FDD (First Trust STOXX European Select Dividend Index Fund) are both Europe Equities funds - HEDJ tracks the WisdomTree Europe Hedged Equity Index while FDD tracks the STOXX Europe Select Dividend 30. Both are passively managed. Over the past 10 years, HEDJ returned 11.67%/yr vs 10.75%/yr for FDD. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.58% expense ratio.

Performance

HEDJ vs. FDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Europe Hedged Equity Fund (HEDJ) and First Trust STOXX European Select Dividend Index Fund (FDD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HEDJ achieves a 8.05% return, which is significantly lower than FDD's 10.10% return. Over the past 10 years, HEDJ has outperformed FDD with an annualized return of 11.67%, while FDD has yielded a comparatively lower 10.75% annualized return.

HEDJ

1D
-1.17%
1M
2.23%
YTD
8.05%
6M
8.83%
1Y
20.81%
3Y*
15.42%
5Y*
11.09%
10Y*
11.67%

FDD

1D
-1.94%
1M
-2.36%
YTD
10.10%
6M
10.41%
1Y
30.12%
3Y*
26.20%
5Y*
11.36%
10Y*
10.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HEDJ vs. FDD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HEDJ
WisdomTree Europe Hedged Equity Fund		8.05%23.55%5.28%26.89%-10.09%23.54%-3.35%27.50%-9.27%13.51%
FDD
First Trust STOXX European Select Dividend Index Fund		10.10%62.50%0.28%14.16%-16.14%16.03%-3.80%23.79%-8.98%19.07%

Correlation

The correlation between HEDJ and FDD is 0.69, 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

0.69

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.72

Correlation (All Time)
Calculated using the full available price history since Dec 31, 2009

0.69

The correlation between HEDJ and FDD has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.

HEDJ vs. FDD - Sectors Allocation Comparison

Sectors
HEDJ
FDD

Industrials

23.1%
13.3%

Financial Services

14.5%
52.0%

Consumer Cyclical

14.2%
12.3%

Consumer Defensive

9.7%
3.6%

Healthcare

7.9%

-

Basic Materials

6.8%
3.1%

Communication Services

5.5%
2.1%

Technology

4.8%

-

Energy

3.9%
10.4%

Real Estate

-

3.3%

Utilities

-

6.0%

Industrials

HEDJ
23.1%
FDD
13.3%

Financial Services

HEDJ
14.5%
FDD
52.0%

Consumer Cyclical

HEDJ
14.2%
FDD
12.3%

Consumer Defensive

HEDJ
9.7%
FDD
3.6%

Healthcare

HEDJ
7.9%
FDD

-

Basic Materials

HEDJ
6.8%
FDD
3.1%

Communication Services

HEDJ
5.5%
FDD
2.1%

Technology

HEDJ
4.8%
FDD

-

Energy

HEDJ
3.9%
FDD
10.4%

Real Estate

HEDJ

-

FDD
3.3%

Utilities

HEDJ

-

FDD
6.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Europe Hedged Equity Fund

First Trust STOXX European Select Dividend Index Fund

Often compared with HEDJ:
HEDJ vs. VGKHEDJ vs. HEZUHEDJ vs. DBEUHEDJ vs. TURHEDJ vs. FEPHEDJ vs. SPYHEDJ vs. UPV
Often compared with FDD:
FDD vs. EUFNFDD vs. FLAXFDD vs. RFEUFDD vs. VTIFDD vs. IQDFFDD vs. DVYFDD vs. IEUR

Return for Risk

HEDJ vs. FDD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HEDJ
HEDJ Risk / Return Rank: 4040
Overall Rank
HEDJ Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
HEDJ Sortino Ratio Rank: 4040
Sortino Ratio Rank
HEDJ Omega Ratio Rank: 3939
Omega Ratio Rank
HEDJ Calmar Ratio Rank: 3737
Calmar Ratio Rank
HEDJ Martin Ratio Rank: 4545
Martin Ratio Rank
FDD
FDD Risk / Return Rank: 6060
Overall Rank
FDD Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
FDD Sortino Ratio Rank: 5858
Sortino Ratio Rank
FDD Omega Ratio Rank: 5454
Omega Ratio Rank
FDD Calmar Ratio Rank: 6767
Calmar Ratio Rank
FDD Martin Ratio Rank: 6262
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.

HEDJ vs. FDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Hedged Equity Fund (HEDJ) and First Trust STOXX European Select Dividend Index Fund (FDD). 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.

HEDJFDDDifference
Sharpe ratioReturn per unit of total volatility
1.33
1.88

-0.56

Sortino ratioReturn per unit of downside risk
1.98
2.61

-0.63

Omega ratioGain probability vs. loss probability

1.24

1.32

-0.08

Calmar ratioReturn relative to maximum drawdown

1.76

3.22

-1.46

Martin ratioReturn relative to average drawdown

7.14

10.63

-3.50

HEDJ vs. FDD - Sharpe Ratio Comparison

The current HEDJ Sharpe Ratio is 1.33, which is comparable to the FDD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of HEDJ and FDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HEDJ vs. FDD - Drawdown Comparison

The maximum HEDJ drawdown since its inception was -38.18%, smaller than the maximum FDD drawdown of -74.77%. Use the drawdown chart below to compare losses from any high point for HEDJ and FDD.

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Drawdown Indicators

HEDJFDDDifference

Max Drawdown

Largest peak-to-trough decline

-38.18%

-74.77%

+36.59%

Max Drawdown (1Y)

Largest decline over 1 year

-11.90%

-9.39%

-2.51%

Max Drawdown (3Y)

Largest decline over 3 years

-15.93%

-13.06%

-2.87%

Max Drawdown (5Y)

Largest decline over 5 years

-22.17%

-34.84%

+12.67%

Max Drawdown (10Y)

Largest decline over 10 years

-38.18%

-41.43%

+3.25%

Current Drawdown

Current decline from peak

-1.38%

-3.52%

+2.14%

Average Drawdown

Average peak-to-trough decline

-5.90%

-35.37%

+29.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

2.84%

+0.08%

Volatility

HEDJ vs. FDD - Volatility Comparison

The current volatility for WisdomTree Europe Hedged Equity Fund (HEDJ) is 4.84%, while First Trust STOXX European Select Dividend Index Fund (FDD) has a volatility of 5.51%. This indicates that HEDJ experiences smaller price fluctuations and is considered to be less risky than FDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HEDJFDDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.84%

5.51%

-0.67%

Volatility (6M)

Calculated over the trailing 6-month period

13.12%

13.16%

-0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

15.77%

16.09%

-0.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.85%

18.48%

-1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.18%

19.86%

-1.68%

HEDJ vs. FDD - Expense Ratio Comparison

Both HEDJ and FDD have an expense ratio of 0.58%.

Dividends

HEDJ vs. FDD - Dividend Comparison

HEDJ's dividend yield for the trailing twelve months is around 1.51%, less than FDD's 3.59% yield.

PositionTTM20252024202320222021202020192018201720162015
FDD
First Trust STOXX European Select Dividend Index Fund		3.59%3.99%7.65%6.85%6.07%3.44%4.01%4.69%5.05%2.78%4.88%4.35%
HEDJ
WisdomTree Europe Hedged Equity Fund		1.51%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 FDD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDD has higher volatility (5.51%) compared to HEDJ (4.84%). In terms of maximum drawdown, HEDJ dropped -38.18% vs FDD's -74.77%.

On 10-year performance, HEDJ leads with 11.67% vs 10.75% for FDD. Both ETFs have the same 0.58% expense ratio. On volatility, HEDJ has been the lower-risk option at 4.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, HEDJ has performed better with a 11.67% return vs 10.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HEDJ and FDD have the same expense ratio: 0.58% per year.

FDD has the higher dividend yield at 3.59%, compared with 1.51% for HEDJ.

HEDJ tracks WisdomTree Europe Hedged Equity Index, while FDD tracks STOXX Europe Select Dividend 30. They also come from different issuers: WisdomTree and First Trust.

FDD currently has the higher Sharpe Ratio (1.88 vs 1.33), 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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