HEZU vs. HEFA
Compare and contrast key facts about iShares Currency Hedged MSCI Eurozone ETF (HEZU) and iShares Currency Hedged MSCI EAFE ETF (HEFA).
HEZU and HEFA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both HEZU and HEFA 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: HEZU or HEFA.
Performance
HEZU vs. HEFA - Performance Comparison
Returns By Period
In the year-to-date period, HEZU achieves a 7.91% return, which is significantly lower than HEFA's 12.31% return. Both investments have delivered pretty close results over the past 10 years, with HEZU having a 8.46% annualized return and HEFA not far ahead at 8.53%.
HEZU
7.91%
-4.15%
-4.39%
12.87%
8.80%
8.46%
HEFA
12.31%
-2.47%
-1.40%
16.05%
9.97%
8.53%
Key characteristics
| HEZU | HEFA | |
|---|---|---|
| Sharpe Ratio | 1.07 | 1.47 |
| Sortino Ratio | 1.52 | 1.97 |
| Omega Ratio | 1.19 | 1.27 |
| Calmar Ratio | 1.36 | 1.64 |
| Martin Ratio | 4.73 | 7.61 |
| Ulcer Index | 2.77% | 2.10% |
| Daily Std Dev | 12.21% | 10.90% |
| Max Drawdown | -38.80% | -32.39% |
| Current Drawdown | -5.09% | -2.98% |
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HEZU vs. HEFA - Expense Ratio Comparison
HEZU has a 0.52% expense ratio, which is higher than HEFA's 0.35% expense ratio.
Correlation
The correlation between HEZU and HEFA 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
HEZU vs. HEFA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Eurozone ETF (HEZU) and iShares Currency Hedged MSCI EAFE ETF (HEFA). 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
HEZU vs. HEFA - Dividend Comparison
HEZU's dividend yield for the trailing twelve months is around 2.85%, which matches HEFA's 2.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 2.85% | 2.52% | 23.25% | 2.25% | 2.32% | 5.40% | 3.47% | 1.92% | 3.11% | 2.68% | 1.15% |
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% |
Drawdowns
HEZU vs. HEFA - Drawdown Comparison
The maximum HEZU drawdown since its inception was -38.80%, which is greater than HEFA's maximum drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for HEZU and HEFA. For additional features, visit the drawdowns tool.
Volatility
HEZU vs. HEFA - Volatility Comparison
iShares Currency Hedged MSCI Eurozone ETF (HEZU) has a higher volatility of 3.52% compared to iShares Currency Hedged MSCI EAFE ETF (HEFA) at 2.89%. This indicates that HEZU's price experiences larger fluctuations and is considered to be riskier than HEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.