HEDJ vs. IEUR

Last updated Apr 2, 2026

Compare and contrast key facts about WisdomTree Europe Hedged Equity Fund (HEDJ) and iShares Core MSCI Europe ETF (IEUR).

HEDJ and IEUR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HEDJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Europe Hedged Equity Index. It was launched on Dec 31, 2009. IEUR is a passively managed fund by iShares that tracks the performance of the MSCI Europe Investable Market Index. It was launched on Jun 10, 2014. Both HEDJ and IEUR 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

HEDJ vs. IEUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Europe Hedged Equity Fund (HEDJ) and iShares Core MSCI Europe ETF (IEUR). The values are adjusted to include any dividend payments, if applicable.

HEDJ vs. IEUR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEDJ WisdomTree Europe Hedged Equity Fund	-0.45%	23.55%	5.28%	26.89%	-10.09%	23.54%	-3.35%	27.50%	-9.27%	13.51%
IEUR iShares Core MSCI Europe ETF	0.51%	35.67%	1.40%	19.71%	-15.90%	16.71%	5.31%	24.95%	-14.86%	26.70%

Returns By Period

In the year-to-date period, HEDJ achieves a -0.45% return, which is significantly lower than IEUR's 0.51% return. Over the past 10 years, HEDJ has outperformed IEUR with an annualized return of 10.28%, while IEUR has yielded a comparatively lower 9.04% annualized return.

HEDJ

• 1D: 0.99%
• 1M: -3.98%
• YTD: -0.45%
• 6M: 4.12%
• 1Y: 12.61%
• 3Y*: 11.82%
• 5Y*: 10.49%
• 10Y*: 10.28%

IEUR

• 1D: 1.52%
• 1M: -4.73%
• YTD: 0.51%
• 6M: 4.68%
• 1Y: 22.17%
• 3Y*: 14.50%
• 5Y*: 8.72%
• 10Y*: 9.04%

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

HEDJ vs. IEUR - Expense Ratio Comparison

HEDJ has a 0.58% expense ratio, which is higher than IEUR's 0.09% expense ratio.

HEDJ

WisdomTree Europe Hedged Equity Fund

IEUR

iShares Core MSCI Europe ETF

Return for Risk

HEDJ vs. IEUR — Risk / Return Rank

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

HEDJ

HEDJ Risk / Return Rank: 37
HEDJ Sharpe Ratio Rank: 33
HEDJ Sortino Ratio Rank: 35
HEDJ Omega Ratio Rank: 34
HEDJ Calmar Ratio Rank: 40
HEDJ Martin Ratio Rank: 42

IEUR

IEUR Risk / Return Rank: 69
IEUR Sharpe Ratio Rank: 69
IEUR Sortino Ratio Rank: 70
IEUR Omega Ratio Rank: 68
IEUR Calmar Ratio Rank: 70
IEUR Martin Ratio Rank: 68

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. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Hedged Equity Fund (HEDJ) and iShares Core MSCI Europe ETF (IEUR). 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.

	HEDJ	IEUR	Difference
Sharpe ratio Return per unit of total volatility	0.67	1.25	-0.59
Sortino ratio Return per unit of downside risk	1.06	1.80	-0.74
Omega ratio Gain probability vs. loss probability	1.15	1.26	-0.11
Calmar ratio Return relative to maximum drawdown	1.08	1.86	-0.78
Martin ratio Return relative to average drawdown	4.09	7.15	-3.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEDJ vs. IEUR - Sharpe Ratio Comparison

The current HEDJ Sharpe Ratio is 0.67, which is lower than the IEUR Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of HEDJ and IEUR, 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

	HEDJ	IEUR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	1.25	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.50	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.49	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.33	+0.13

Correlation

The correlation between HEDJ and IEUR is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HEDJ vs. IEUR - Dividend Comparison

HEDJ's dividend yield for the trailing twelve months is around 1.64%, less than IEUR's 2.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEDJ WisdomTree Europe Hedged Equity Fund	1.64%	1.63%	3.28%	3.31%	2.83%	2.08%	2.65%	1.82%	2.73%	2.27%	2.74%	9.43%
IEUR iShares Core MSCI Europe ETF	2.96%	2.97%	3.54%	3.17%	3.05%	2.88%	2.13%	3.26%	3.76%	2.64%	3.19%	2.79%

Drawdowns

HEDJ vs. IEUR - Drawdown Comparison

The maximum HEDJ drawdown since its inception was -38.18%, roughly equal to the maximum IEUR drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for HEDJ and IEUR.

Drawdown Indicators

	HEDJ	IEUR	Difference
Max Drawdown Largest peak-to-trough decline	-38.18%	-36.96%	-1.22%
Max Drawdown (1Y) Largest decline over 1 year	-12.20%	-12.04%	-0.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.17%	-32.75%	+10.58%
Max Drawdown (10Y) Largest decline over 10 years	-38.18%	-36.96%	-1.22%
Current Drawdown Current decline from peak	-6.60%	-7.05%	+0.45%
Average Drawdown Average peak-to-trough decline	-5.96%	-8.30%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.13%	+0.11%

Volatility

HEDJ vs. IEUR - Volatility Comparison

The current volatility for WisdomTree Europe Hedged Equity Fund (HEDJ) is 6.41%, while iShares Core MSCI Europe ETF (IEUR) has a volatility of 7.36%. This indicates that HEDJ experiences smaller price fluctuations and is considered to be less risky than IEUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEDJ	IEUR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	7.36%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	11.03%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	17.81%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.48%	17.54%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.34%	18.60%	-0.26%