ICLR vs. HEFA
ICLR (ICON Public Limited Company) is a stock, while HEFA (iShares Currency Hedged MSCI EAFE ETF) is Foreign Large Cap Equities fund tracking the MSCI EAFE 100% Hedged to USD Index. Over the past 10 years, ICLR returned 7.91%/yr vs 12.94%/yr for HEFA. Their 0.40 correlation means their historical movements had little consistent relationship.
Performance
ICLR vs. HEFA - Performance Comparison
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Returns By Period
In the year-to-date period, ICLR achieves a -10.24% return, which is significantly lower than HEFA's 14.00% return. Over the past 10 years, ICLR has underperformed HEFA with an annualized return of 7.91%, while HEFA has yielded a comparatively higher 12.94% annualized return.
ICLR
- 1D
- -1.19%
- 1M
- -5.49%
- 6M
- -9.26%
- YTD
- -10.24%
- 1Y
- -1.73%
- 3Y*
- -13.10%
- 5Y*
- -7.63%
- 10Y*
- 7.91%
- ALL TIME*
- 12.67%
HEFA
- 1D
- -0.74%
- 1M
- 0.22%
- 6M
- 10.13%
- YTD
- 14.00%
- 1Y
- 30.42%
- 3Y*
- 18.79%
- 5Y*
- 14.16%
- 10Y*
- 12.94%
- ALL TIME*
- 10.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $18.09M | $30.10M | $25.37M | |
| $182.21M | $139.00M | $151.33M |
ICLR vs. HEFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICLR ICON Public Limited Company | -10.24% | -13.11% | -25.92% | 45.72% | -37.28% | 58.84% | 13.21% | 33.29% | 15.21% | 49.14% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 14.00% | 24.58% | 13.71% | 20.33% | -4.86% | 19.59% | 2.09% | 27.63% | -9.33% | 16.67% |
Correlation
The correlation between ICLR and HEFA is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2014 | 0.40 |
The correlation between ICLR and HEFA shifts across timeframes, from 0.22 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICLR vs. HEFA — Risk / Return Rank
ICLR
HEFA
ICLR vs. HEFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICON Public Limited Company (ICLR) 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.
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.
| ICLR | HEFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.40 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 2.98 | -3.03 |
| Martin ratioReturn relative to average drawdown | -0.12 | 12.45 | -12.57 |
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Drawdowns
ICLR vs. HEFA - Drawdown Comparison
The maximum ICLR drawdown since its inception was -76.87%, which is greater than HEFA's maximum drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for ICLR and HEFA.
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Drawdown Indicators
| ICLR | HEFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.87% | -32.39% | -44.48% |
Max Drawdown (1Y)Largest decline over 1 year | -60.54% | -9.52% | -51.02% |
Max Drawdown (3Y)Largest decline over 3 years | -76.87% | -14.28% | -62.59% |
Max Drawdown (5Y)Largest decline over 5 years | -76.87% | -14.79% | -62.08% |
Max Drawdown (10Y)Largest decline over 10 years | -76.87% | -32.39% | -44.48% |
Current DrawdownCurrent decline from peak | -52.75% | -0.75% | -52.00% |
Average DrawdownAverage peak-to-trough decline | -23.67% | -4.13% | -19.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.70% | 2.28% | +25.42% |
Volatility
ICLR vs. HEFA - Volatility Comparison
ICON Public Limited Company (ICLR) has a higher volatility of 12.10% compared to iShares Currency Hedged MSCI EAFE ETF (HEFA) at 3.56%. This indicates that ICLR'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.
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Volatility by Period
| ICLR | HEFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.10% | 3.56% | +8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 67.87% | 10.86% | +57.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.80% | 13.14% | +54.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.55% | 13.84% | +31.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.14% | 15.67% | +22.47% |
Dividends
ICLR vs. HEFA - Dividend Comparison
ICLR has not paid dividends to shareholders, while HEFA's dividend yield for the trailing twelve months is around 4.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.03% | 4.40% | 3.09% | 3.02% | 25.14% | 3.06% | 2.10% | 7.56% | 4.58% | 2.55% | 3.17% | 3.54% |
ICLR ICON Public Limited Company | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ICLR and HEFA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICLR has higher volatility (12.10%) compared to HEFA (3.56%). In terms of maximum drawdown, ICLR dropped -76.87% vs HEFA's -32.39%.
HEFA currently has the higher Sharpe Ratio (2.16 vs -0.05), 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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