HEFA vs. HEZU
Compare and contrast key facts about iShares Currency Hedged MSCI EAFE ETF (HEFA) and iShares Currency Hedged MSCI Eurozone ETF (HEZU).
HEFA and HEZU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. HEZU is a passively managed fund by iShares that tracks the performance of the MSCI EMU 100% USD Hedged Index. It was launched on Jul 9, 2014. Both HEFA and HEZU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HEFA or HEZU.
Performance
HEFA vs. HEZU - Performance Comparison
Returns By Period
In the year-to-date period, HEFA achieves a 12.34% return, which is significantly higher than HEZU's 8.84% return. Both investments have delivered pretty close results over the past 10 years, with HEFA having a 8.59% annualized return and HEZU not far ahead at 8.73%.
HEFA
12.34%
-2.05%
-1.28%
16.99%
9.81%
8.59%
HEZU
8.84%
-1.47%
-3.64%
14.98%
8.83%
8.73%
Key characteristics
| HEFA | HEZU | |
|---|---|---|
| Sharpe Ratio | 1.54 | 1.23 |
| Sortino Ratio | 2.06 | 1.72 |
| Omega Ratio | 1.28 | 1.21 |
| Calmar Ratio | 1.72 | 1.56 |
| Martin Ratio | 8.07 | 5.47 |
| Ulcer Index | 2.09% | 2.74% |
| Daily Std Dev | 10.92% | 12.21% |
| Max Drawdown | -32.39% | -38.80% |
| Current Drawdown | -2.96% | -4.28% |
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HEFA vs. HEZU - Expense Ratio Comparison
HEFA has a 0.35% expense ratio, which is lower than HEZU's 0.52% expense ratio.
Correlation
The correlation between HEFA and HEZU is 0.93, 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.
Risk-Adjusted Performance
HEFA vs. HEZU - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI EAFE ETF (HEFA) and iShares Currency Hedged MSCI Eurozone ETF (HEZU). 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.
Dividends
HEFA vs. HEZU - Dividend Comparison
HEFA's dividend yield for the trailing twelve months is around 2.87%, more than HEZU's 2.83% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 2.87% | 3.01% | 25.14% | 3.06% | 2.10% | 5.37% | 4.58% | 2.55% | 3.17% | 3.54% | 3.39% |
HEZU iShares Currency Hedged MSCI Eurozone ETF | 2.83% | 2.52% | 23.25% | 2.25% | 2.32% | 5.40% | 3.47% | 1.92% | 3.11% | 2.68% | 1.15% |
Drawdowns
HEFA vs. HEZU - Drawdown Comparison
The maximum HEFA drawdown since its inception was -32.39%, smaller than the maximum HEZU drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for HEFA and HEZU. For additional features, visit the drawdowns tool.
Volatility
HEFA vs. HEZU - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI EAFE ETF (HEFA) is 2.96%, while iShares Currency Hedged MSCI Eurozone ETF (HEZU) has a volatility of 3.62%. This indicates that HEFA experiences smaller price fluctuations and is considered to be less risky than HEZU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.