HEFA vs. COMT
HEFA (iShares Currency Hedged MSCI EAFE ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - HEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE 100% Hedged to USD Index, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, HEFA returned 12.70%/yr vs 8.89%/yr for COMT. Their 0.27 correlation means their historical movements had little consistent relationship. HEFA charges 0.35%/yr vs 0.48%/yr for COMT.
Performance
HEFA vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, HEFA achieves a 13.57% return, which is significantly lower than COMT's 33.14% return. Over the past 10 years, HEFA has outperformed COMT with an annualized return of 12.70%, while COMT has yielded a comparatively lower 8.89% annualized return.
HEFA
- 1D
- 0.51%
- 1M
- 0.73%
- 6M
- 10.08%
- YTD
- 13.57%
- 1Y
- 26.09%
- 3Y*
- 18.91%
- 5Y*
- 13.96%
- 10Y*
- 12.70%
- ALL TIME*
- 10.79%
COMT
- 1D
- -0.12%
- 1M
- 8.15%
- 6M
- 24.14%
- YTD
- 33.14%
- 1Y
- 36.27%
- 3Y*
- 11.70%
- 5Y*
- 12.15%
- 10Y*
- 8.89%
- ALL TIME*
- 3.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.60M | $11.19M | $14.65M | |
| $39.23M | $30.73M | $26.09M |
HEFA vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 13.57% | 24.58% | 13.71% | 20.33% | -4.86% | 19.59% | 2.09% | 27.63% | -9.33% | 16.67% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 33.14% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between HEFA and COMT is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.27 |
The correlation between HEFA and COMT shifts across timeframes, from -0.20 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HEFA vs. COMT — Risk / Return Rank
HEFA
COMT
HEFA vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI EAFE ETF (HEFA) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| HEFA | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 1.99 | +0.78 |
| Martin ratioReturn relative to average drawdown | 11.52 | 6.40 | +5.13 |
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Drawdowns
HEFA vs. COMT - Drawdown Comparison
The maximum HEFA drawdown since its inception was -32.39%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for HEFA and COMT.
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Drawdown Indicators
| HEFA | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.39% | -51.89% | +19.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.52% | -17.57% | +8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.28% | -17.57% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -14.79% | -29.00% | +14.21% |
Max Drawdown (10Y)Largest decline over 10 years | -32.39% | -39.22% | +6.83% |
Current DrawdownCurrent decline from peak | -1.12% | -9.27% | +8.15% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -23.93% | +19.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 5.46% | -3.17% |
Volatility
HEFA vs. COMT - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE ETF (HEFA) is 3.21%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 4.67%. This indicates that HEFA experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEFA | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 4.67% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 19.58% | -8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.05% | 21.55% | -8.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.82% | 21.07% | -7.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 18.85% | -3.19% |
HEFA vs. COMT - Expense Ratio Comparison
HEFA has a 0.35% expense ratio, which is lower than COMT's 0.48% expense ratio.
Dividends
HEFA vs. COMT - Dividend Comparison
HEFA's dividend yield for the trailing twelve months is around 4.04%, less than COMT's 5.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.81% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.04% | 4.40% | 3.09% | 3.02% | 25.14% | 3.06% | 2.10% | 7.56% | 4.58% | 2.55% | 3.17% | 3.54% |
Frequently Asked Questions
HEFA and COMT have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (4.67%) compared to HEFA (3.21%). In terms of maximum drawdown, HEFA dropped -32.39% vs COMT's -51.89%.
On 10-year performance, HEFA leads with 12.70% vs 8.89% for COMT. On fees, HEFA is cheaper at 0.35% per year. On volatility, HEFA has been the lower-risk option at 3.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HEFA has performed better with a 12.70% return vs 8.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HEFA is cheaper with a 0.35% expense ratio, compared with 0.48% for COMT.
COMT has the higher dividend yield at 5.81%, compared with 4.04% for HEFA.
HEFA is categorized as Foreign Large Cap Equities, while COMT is Commodities. HEFA tracks MSCI EAFE 100% Hedged to USD Index, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. Their fees differ too: 0.35% for HEFA and 0.48% for COMT.
HEFA currently has the higher Sharpe Ratio (2.03 vs 1.62), 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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