HEZU vs. SPY
Compare and contrast key facts about iShares Currency Hedged MSCI Eurozone ETF (HEZU) and SPDR S&P 500 ETF (SPY).
HEZU and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both HEZU and SPY 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 SPY.
Key characteristics
| HEZU | SPY | |
|---|---|---|
| YTD Return | 9.44% | 21.01% |
| 1Y Return | 19.26% | 32.86% |
| 3Y Return (Ann) | 6.33% | 8.37% |
| 5Y Return (Ann) | 9.08% | 14.97% |
| 10Y Return (Ann) | 9.06% | 12.86% |
| Sharpe Ratio | 1.60 | 2.83 |
| Sortino Ratio | 2.21 | 3.76 |
| Omega Ratio | 1.28 | 1.53 |
| Calmar Ratio | 2.01 | 4.05 |
| Martin Ratio | 7.37 | 18.38 |
| Ulcer Index | 2.63% | 1.85% |
| Daily Std Dev | 12.11% | 12.02% |
| Max Drawdown | -38.80% | -55.19% |
| Current Drawdown | -3.75% | -2.53% |
Correlation
The correlation between HEZU and SPY is 0.77, 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.
Performance
HEZU vs. SPY - Performance Comparison
In the year-to-date period, HEZU achieves a 9.44% return, which is significantly lower than SPY's 21.01% return. Over the past 10 years, HEZU has underperformed SPY with an annualized return of 9.06%, while SPY has yielded a comparatively higher 12.86% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HEZU vs. SPY - Expense Ratio Comparison
HEZU has a 0.52% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
HEZU vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Eurozone ETF (HEZU) and SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
HEZU's dividend yield for the trailing twelve months is around 2.81%, more than SPY's 1.23% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEZU iShares Currency Hedged MSCI Eurozone ETF | 2.81% | 2.52% | 23.26% | 2.25% | 2.32% | 5.40% | 3.48% | 1.92% | 3.11% | 2.68% | 1.15% | 0.00% |
SPY SPDR S&P 500 ETF | 1.23% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
HEZU vs. SPY - Drawdown Comparison
The maximum HEZU drawdown since its inception was -38.80%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HEZU and SPY. For additional features, visit the drawdowns tool.
Volatility
HEZU vs. SPY - Volatility Comparison
iShares Currency Hedged MSCI Eurozone ETF (HEZU) has a higher volatility of 3.64% compared to SPDR S&P 500 ETF (SPY) at 3.15%. This indicates that HEZU's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.