HEDJ vs. PBEU
HEDJ (WisdomTree Europe Hedged Equity Fund) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - HEDJ is a Europe Equities fund tracking the WisdomTree Europe Hedged Equity Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. HEDJ charges 0.58%/yr vs 0.13%/yr for PBEU.
Performance
HEDJ vs. PBEU - Performance Comparison
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Returns By Period
In the year-to-date period, HEDJ achieves a 8.05% return, which is significantly lower than PBEU's 13.63% 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%
PBEU
- 1D
- -1.42%
- 1M
- 7.22%
- YTD
- 13.63%
- 6M
- 14.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEDJ vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEDJ WisdomTree Europe Hedged Equity Fund | 8.05% | 3.88% |
PBEU Portfolio Building Block European Banks Index ETF | 13.63% | 11.42% |
Correlation
The correlation between HEDJ and PBEU is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.77 |
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Return for Risk
HEDJ vs. PBEU — Risk / Return Rank
HEDJ
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HEDJ vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Europe Hedged Equity Fund (HEDJ) and Portfolio Building Block European Banks Index ETF (PBEU). 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 | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.24 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | — | — |
| Martin ratioReturn relative to average drawdown | 7.14 | — | — |
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Drawdowns
HEDJ vs. PBEU - Drawdown Comparison
The maximum HEDJ drawdown since its inception was -38.18%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for HEDJ and PBEU.
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Drawdown Indicators
| HEDJ | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.18% | -17.26% | -20.92% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.93% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.18% | — | — |
Current DrawdownCurrent decline from peak | -1.38% | -1.42% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -5.90% | -3.94% | -1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | — | — |
Volatility
HEDJ vs. PBEU - Volatility Comparison
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Volatility by Period
| HEDJ | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.12% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.77% | 27.63% | -11.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 27.63% | -10.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 27.63% | -9.45% |
HEDJ vs. PBEU - Expense Ratio Comparison
HEDJ has a 0.58% expense ratio, which is higher than PBEU's 0.13% expense ratio.
Dividends
HEDJ vs. PBEU - Dividend Comparison
HEDJ's dividend yield for the trailing twelve months is around 1.51%, more than PBEU's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PBEU Portfolio Building Block European Banks Index ETF | 0.01% | 0.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HEDJ and PBEU have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBEU is cheaper with a 0.13% expense ratio, compared with 0.58% for HEDJ.
HEDJ has the higher dividend yield at 1.51%, compared with 0.01% for PBEU.
HEDJ is categorized as Europe Equities, while PBEU is Financials Equities. HEDJ tracks WisdomTree Europe Hedged Equity Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: WisdomTree and Portfolio Building Block. Their fees differ too: 0.58% for HEDJ and 0.13% for PBEU.
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