HEFA vs. BUFIX
Compare and contrast key facts about iShares Currency Hedged MSCI EAFE ETF (HEFA) and Buffalo International Fund (BUFIX).
HEFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE 100% Hedged to USD Index. It was launched on Jan 31, 2014. BUFIX is managed by Buffalo. It was launched on Sep 27, 2007.
Performance
HEFA vs. BUFIX - Performance Comparison
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HEFA vs. BUFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.23% | 24.58% | 13.71% | 20.33% | -4.86% | 19.59% | 2.09% | 27.63% | -9.33% | 16.67% |
BUFIX Buffalo International Fund | -1.97% | 17.09% | -1.90% | 18.33% | -21.80% | 18.20% | 19.10% | 28.01% | -8.85% | 29.33% |
Returns By Period
In the year-to-date period, HEFA achieves a 4.23% return, which is significantly higher than BUFIX's -1.97% return. Over the past 10 years, HEFA has outperformed BUFIX with an annualized return of 12.30%, while BUFIX has yielded a comparatively lower 8.48% annualized return.
HEFA
- 1D
- 1.45%
- 1M
- -3.12%
- YTD
- 4.23%
- 6M
- 11.29%
- 1Y
- 24.10%
- 3Y*
- 17.63%
- 5Y*
- 13.08%
- 10Y*
- 12.30%
BUFIX
- 1D
- 2.99%
- 1M
- -8.69%
- YTD
- -1.97%
- 6M
- -1.97%
- 1Y
- 9.22%
- 3Y*
- 5.80%
- 5Y*
- 3.44%
- 10Y*
- 8.48%
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HEFA vs. BUFIX - Expense Ratio Comparison
HEFA has a 0.35% expense ratio, which is lower than BUFIX's 1.03% expense ratio.
Return for Risk
HEFA vs. BUFIX — Risk / Return Rank
HEFA
BUFIX
HEFA vs. BUFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI EAFE ETF (HEFA) and Buffalo International Fund (BUFIX). 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.
| HEFA | BUFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.45 | 0.51 | +0.93 |
Sortino ratioReturn per unit of downside risk | 2.03 | 0.83 | +1.20 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.11 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 2.08 | 0.62 | +1.47 |
Martin ratioReturn relative to average drawdown | 8.91 | 2.20 | +6.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HEFA | BUFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 0.51 | +0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.20 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.49 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.29 | +0.35 |
Correlation
The correlation between HEFA and BUFIX is 0.78, 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
HEFA vs. BUFIX - Dividend Comparison
HEFA's dividend yield for the trailing twelve months is around 4.22%, more than BUFIX's 0.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.22% | 4.40% | 3.09% | 3.02% | 25.14% | 3.06% | 2.10% | 7.56% | 4.58% | 2.55% | 3.17% | 3.54% |
BUFIX Buffalo International Fund | 0.87% | 0.85% | 0.84% | 0.59% | 1.85% | 1.20% | 0.28% | 0.57% | 2.42% | 0.36% | 0.00% | 0.51% |
Drawdowns
HEFA vs. BUFIX - Drawdown Comparison
The maximum HEFA drawdown since its inception was -32.39%, smaller than the maximum BUFIX drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for HEFA and BUFIX.
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Drawdown Indicators
| HEFA | BUFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.39% | -55.09% | +22.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.64% | -12.85% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -14.79% | -34.93% | +20.14% |
Max Drawdown (10Y)Largest decline over 10 years | -32.39% | -34.93% | +2.54% |
Current DrawdownCurrent decline from peak | -4.58% | -10.16% | +5.58% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -9.24% | +5.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 3.60% | -0.87% |
Volatility
HEFA vs. BUFIX - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE ETF (HEFA) is 5.88%, while Buffalo International Fund (BUFIX) has a volatility of 8.50%. This indicates that HEFA experiences smaller price fluctuations and is considered to be less risky than BUFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEFA | BUFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 8.50% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 12.38% | -2.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.72% | 18.08% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.66% | 17.21% | -3.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.90% | 17.30% | -1.40% |