IGEB vs. HEFA
Compare and contrast key facts about iShares Investment Grade Bond Factor ETF (IGEB) and iShares Currency Hedged MSCI EAFE ETF (HEFA).
IGEB and HEFA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGEB is a passively managed fund by iShares that tracks the performance of the BlackRock Investment Grade Enhanced Bond Index. It was launched on Jul 11, 2017. 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 IGEB 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.
Performance
IGEB vs. HEFA - Performance Comparison
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IGEB vs. HEFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | -0.52% | 8.17% | 3.10% | 9.56% | -14.85% | -1.14% | 11.23% | 15.42% | -2.05% | 1.53% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 2.74% | 24.58% | 13.71% | 20.33% | -4.86% | 19.59% | 2.09% | 27.63% | -9.33% | 5.78% |
Returns By Period
In the year-to-date period, IGEB achieves a -0.52% return, which is significantly lower than HEFA's 2.74% return.
IGEB
- 1D
- 0.51%
- 1M
- -1.90%
- YTD
- -0.52%
- 6M
- 0.32%
- 1Y
- 5.18%
- 3Y*
- 5.36%
- 5Y*
- 1.21%
- 10Y*
- —
HEFA
- 1D
- 2.37%
- 1M
- -5.63%
- YTD
- 2.74%
- 6M
- 10.39%
- 1Y
- 22.56%
- 3Y*
- 17.07%
- 5Y*
- 12.76%
- 10Y*
- 12.14%
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IGEB vs. HEFA - Expense Ratio Comparison
IGEB has a 0.18% expense ratio, which is lower than HEFA's 0.35% expense ratio.
Return for Risk
IGEB vs. HEFA — Risk / Return Rank
IGEB
HEFA
IGEB vs. HEFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Investment Grade Bond Factor ETF (IGEB) 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.
| IGEB | HEFA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.36 | -0.34 |
Sortino ratioReturn per unit of downside risk | 1.42 | 1.92 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.85 | -0.11 |
Martin ratioReturn relative to average drawdown | 5.88 | 7.97 | -2.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGEB | HEFA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.36 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.94 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.63 | -0.16 |
Correlation
The correlation between IGEB and HEFA is 0.12, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
IGEB vs. HEFA - Dividend Comparison
IGEB's dividend yield for the trailing twelve months is around 4.99%, more than HEFA's 4.28% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGEB iShares Investment Grade Bond Factor ETF | 4.99% | 4.92% | 5.09% | 4.60% | 3.64% | 3.84% | 3.78% | 5.61% | 3.59% | 1.62% | 0.00% | 0.00% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.28% | 4.40% | 3.09% | 3.02% | 25.14% | 3.06% | 2.10% | 7.56% | 4.58% | 2.55% | 3.17% | 3.54% |
Drawdowns
IGEB vs. HEFA - Drawdown Comparison
The maximum IGEB drawdown since its inception was -21.13%, smaller than the maximum HEFA drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for IGEB and HEFA.
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Drawdown Indicators
| IGEB | HEFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.13% | -32.39% | +11.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -11.69% | +8.63% |
Max Drawdown (5Y)Largest decline over 5 years | -21.13% | -14.79% | -6.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.39% | — |
Current DrawdownCurrent decline from peak | -1.95% | -5.94% | +3.99% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -4.21% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 2.71% | -1.80% |
Volatility
IGEB vs. HEFA - Volatility Comparison
The current volatility for iShares Investment Grade Bond Factor ETF (IGEB) is 2.13%, while iShares Currency Hedged MSCI EAFE ETF (HEFA) has a volatility of 6.21%. This indicates that IGEB experiences smaller price fluctuations and is considered to be less risky 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
| IGEB | HEFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 6.21% | -4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 9.58% | -6.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.09% | 16.69% | -11.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 13.65% | -6.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.56% | 15.90% | -9.34% |