HEZU vs. PBEU
HEZU (iShares Currency Hedged MSCI Eurozone ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - HEZU is a Europe Equities fund tracking the MSCI EMU 100% USD Hedged Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. Their correlation of 0.83 suggests significant overlap in exposure. HEZU charges 0.52%/yr vs 0.13%/yr for PBEU.
Performance
HEZU vs. PBEU - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HEZU having a 13.40% return and PBEU slightly lower at 12.82%.
HEZU
- 1D
- 1.06%
- 1M
- 3.04%
- YTD
- 13.40%
- 6M
- 13.42%
- 1Y
- 26.69%
- 3Y*
- 19.44%
- 5Y*
- 12.98%
- 10Y*
- 13.39%
PBEU
- 1D
- 0.86%
- 1M
- 3.98%
- YTD
- 12.82%
- 6M
- 13.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEZU vs. PBEU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 13.40% | 4.44% |
PBEU Portfolio Building Block European Banks Index ETF | 12.82% | 11.42% |
Correlation
The correlation between HEZU and PBEU is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.83 |
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Return for Risk
HEZU vs. PBEU — Risk / Return Rank
HEZU
PBEU
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HEZU vs. PBEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Eurozone ETF (HEZU) 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.
| HEZU | PBEU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | — | — |
| Martin ratioReturn relative to average drawdown | 9.61 | — | — |
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Drawdowns
HEZU vs. PBEU - Drawdown Comparison
The maximum HEZU drawdown since its inception was -38.80%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for HEZU and PBEU.
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Drawdown Indicators
| HEZU | PBEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -17.26% | -21.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.83% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.79% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.80% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -2.12% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -5.81% | -3.92% | -1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | — | — |
Volatility
HEZU vs. PBEU - Volatility Comparison
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Volatility by Period
| HEZU | PBEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.26% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 27.55% | -12.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.60% | 27.55% | -10.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 27.55% | -9.38% |
HEZU vs. PBEU - Expense Ratio Comparison
HEZU has a 0.52% expense ratio, which is higher than PBEU's 0.13% expense ratio.
Dividends
HEZU vs. PBEU - Dividend Comparison
HEZU's dividend yield for the trailing twelve months is around 2.58%, more than PBEU's 0.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 2.58% | 2.92% | 2.77% | 2.52% | 23.26% | 2.25% | 2.32% | 5.40% | 3.48% | 1.92% | 3.11% | 2.68% |
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
HEZU and PBEU have a correlation of 0.83, 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 0.52% for HEZU.
HEZU has the higher dividend yield at 2.58%, compared with 0.01% for PBEU.
HEZU is categorized as Europe Equities, while PBEU is Financials Equities. HEZU tracks MSCI EMU 100% USD Hedged Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: iShares and Portfolio Building Block. Their fees differ too: 0.52% for HEZU and 0.13% for PBEU.
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