STXE vs. HEEM
STXE (Strive Emerging Markets Ex-China ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds - STXE tracks the Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross while HEEM tracks the MSCI Emerging Markets 100% USD Hedged Index. Both are passively managed. Over the past 3 years, STXE returned 28.56%/yr vs 25.80%/yr for HEEM. A 0.80 correlation means they provide meaningful diversification when combined. STXE charges 0.32%/yr vs 0.72%/yr for HEEM.
Performance
STXE vs. HEEM - Performance Comparison
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Returns By Period
In the year-to-date period, STXE achieves a 44.03% return, which is significantly higher than HEEM's 26.06% return.
STXE
- 1D
- -6.43%
- 1M
- 6.24%
- YTD
- 44.03%
- 6M
- 45.98%
- 1Y
- 75.87%
- 3Y*
- 28.56%
- 5Y*
- —
- 10Y*
- —
HEEM
- 1D
- -5.40%
- 1M
- 3.12%
- YTD
- 26.06%
- 6M
- 26.50%
- 1Y
- 55.61%
- 3Y*
- 25.80%
- 5Y*
- 9.77%
- 10Y*
- 11.34%
STXE vs. HEEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
STXE Strive Emerging Markets Ex-China ETF | 44.03% | 34.23% | 2.09% | 12.38% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 26.06% | 34.02% | 12.59% | 1.64% |
Correlation
The correlation between STXE and HEEM is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023 | 0.80 |
The correlation between STXE and HEEM has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.
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Return for Risk
STXE vs. HEEM — Risk / Return Rank
STXE
HEEM
STXE vs. HEEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strive Emerging Markets Ex-China ETF (STXE) 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.
| STXE | HEEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.52 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 5.26 | 5.16 | +0.09 |
| Martin ratioReturn relative to average drawdown | 20.32 | 19.26 | +1.07 |
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Drawdowns
STXE vs. HEEM - Drawdown Comparison
The maximum STXE drawdown since its inception was -18.92%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for STXE and HEEM.
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Drawdown Indicators
| STXE | HEEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.92% | -33.53% | +14.61% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -10.83% | -3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | -14.82% | -4.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.53% | — |
Current DrawdownCurrent decline from peak | -6.43% | -5.40% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -11.10% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 2.90% | +0.84% |
Volatility
STXE vs. HEEM - Volatility Comparison
Strive Emerging Markets Ex-China ETF (STXE) has a higher volatility of 15.52% compared to iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) at 11.87%. This indicates that STXE's price experiences larger fluctuations and is considered to be riskier 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
| STXE | HEEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.52% | 11.87% | +3.65% |
Volatility (6M)Calculated over the trailing 6-month period | 24.95% | 18.67% | +6.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.68% | 20.56% | +6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 17.64% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.08% | 18.20% | +0.88% |
STXE vs. HEEM - Expense Ratio Comparison
STXE has a 0.32% expense ratio, which is lower than HEEM's 0.72% expense ratio.
Dividends
STXE vs. HEEM - Dividend Comparison
STXE's dividend yield for the trailing twelve months is around 1.87%, less than HEEM's 3.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.16% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
STXE Strive Emerging Markets Ex-China ETF | 1.87% | 2.66% | 3.22% | 1.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
STXE and HEEM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
STXE has higher volatility (15.52%) compared to HEEM (11.87%). In terms of maximum drawdown, STXE dropped -18.92% vs HEEM's -33.53%.
On 3-year performance, STXE leads with 28.56% vs 25.80% for HEEM. On fees, STXE is cheaper at 0.32% per year. On volatility, HEEM has been the lower-risk option at 11.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, STXE has performed better with a 28.56% return vs 25.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STXE is cheaper with a 0.32% expense ratio, compared with 0.72% for HEEM.
HEEM has the higher dividend yield at 3.16%, compared with 1.87% for STXE.
STXE tracks Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross, while HEEM tracks MSCI Emerging Markets 100% USD Hedged Index. They also come from different issuers: Strive and iShares. Their fees differ too: 0.32% for STXE and 0.72% for HEEM.
STXE currently has the higher Sharpe Ratio (2.86 vs 2.72), 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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