SEEM vs. HEEM
SEEM (SEI Select Emerging Markets Equity ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Equities funds. SEEM is actively managed, while HEEM is passively managed. Over the past year, SEEM returned 41.57% vs 40.79% for HEEM. Their correlation of 0.92 means they have usually moved in the same direction. SEEM charges 0.60%/yr vs 0.72%/yr for HEEM.
Performance
SEEM vs. HEEM - Performance Comparison
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Returns By Period
In the year-to-date period, SEEM achieves a 21.89% return, which is significantly higher than HEEM's 18.81% return.
SEEM
- 1D
- 0.46%
- 1M
- -2.18%
- 6M
- 11.47%
- YTD
- 21.89%
- 1Y
- 41.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 28.48%
HEEM
- 1D
- 0.49%
- 1M
- -3.55%
- 6M
- 9.48%
- YTD
- 18.81%
- 1Y
- 40.79%
- 3Y*
- 21.67%
- 5Y*
- 9.44%
- 10Y*
- 9.74%
- ALL TIME*
- 7.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.82M | $12.11M | $6.28M | |
| $2.35M | $2.55M | $2.06M |
SEEM vs. HEEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SEEM SEI Select Emerging Markets Equity ETF | 21.89% | 38.16% | -6.66% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 18.81% | 34.02% | -4.79% |
Correlation
The correlation between SEEM and HEEM is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2024 | 0.92 |
The correlation between SEEM and HEEM has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
SEEM vs. HEEM — Risk / Return Rank
SEEM
HEEM
SEEM vs. HEEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SEI Select Emerging Markets Equity ETF (SEEM) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). 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.
| SEEM | HEEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.73 | +0.17 |
| Martin ratioReturn relative to average drawdown | 9.13 | 9.84 | -0.71 |
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Drawdowns
SEEM vs. HEEM - Drawdown Comparison
The maximum SEEM drawdown since its inception was -14.34%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for SEEM and HEEM.
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Drawdown Indicators
| SEEM | HEEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.34% | -33.53% | +19.19% |
Max Drawdown (1Y)Largest decline over 1 year | -14.01% | -15.01% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.01% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -9.06% | -10.84% | +1.78% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -11.08% | +8.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 4.16% | +0.28% |
Volatility
SEEM vs. HEEM - Volatility Comparison
The current volatility for SEI Select Emerging Markets Equity ETF (SEEM) is 8.72%, while iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) has a volatility of 9.31%. This indicates that SEEM experiences smaller price fluctuations and is considered to be less risky than HEEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEEM | HEEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.72% | 9.31% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 21.54% | 20.60% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.71% | 22.65% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.59% | 18.03% | +3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.59% | 18.41% | +3.18% |
SEEM vs. HEEM - Expense Ratio Comparison
SEEM has a 0.60% expense ratio, which is lower than HEEM's 0.72% expense ratio.
Dividends
SEEM vs. HEEM - Dividend Comparison
SEEM's dividend yield for the trailing twelve months is around 2.73%, less than HEEM's 3.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.23% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
SEEM SEI Select Emerging Markets Equity ETF | 2.73% | 3.31% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, SEEM and HEEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HEEM has higher volatility (9.31%) compared to SEEM (8.72%). In terms of maximum drawdown, SEEM dropped -14.34% vs HEEM's -33.53%.
On 1-year performance, SEEM leads with 41.57% vs 40.79% for HEEM. On fees, SEEM is cheaper at 0.60% per year. On volatility, SEEM has been the lower-risk option at 8.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SEEM has performed better with a 41.57% return vs 40.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEEM is cheaper with a 0.60% expense ratio, compared with 0.72% for HEEM.
HEEM has the higher dividend yield at 3.23%, compared with 2.73% for SEEM.
They also come from different issuers: SEI and iShares. Their fees differ too: 0.60% for SEEM and 0.72% for HEEM.
HEEM currently has the higher Sharpe Ratio (1.81 vs 1.72), 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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