HEWIiShares Currency Hedged MSCI Italy ETF
HEWI Fund Description
The iShares Currency Hedged MSCI Italy ETF tracks an index of large- and midcap Italian stocks, hedged against movements in the euro for US investors.
HEWI Factset Analytics Insight
Launched July 1, 2015, HEWI offers no-frills exposure to Italian stocks with a currency hedge for US investors. The fund holds large and liquid EWI to provide the equity exposure, which in turn holds the underlying stocks directly. This structure is akin to a Russian doll, rather than a derivative. Still, derivatives are used for the FX hedge: 1-month forward contracts. We see little additional risk from the forwards themselves, which should provide effective, but not perfect, hedging. HEWI charges a reasonable fee, but tracking stats won’t be helpful as a gauge of holding costs. Its tracking error will look bad because its NAV is based on the market price of EWI, which can trade when the index’s stock market is closed. In all, HEWI offers a straightforward basket of currency-hedged stocks. Trade the new fund with care.
HEWI CHARTS AND PERFORMANCE
HEWI Top 10 Countries
HEWI Top 10 Sectors
HEWI Top 10 Holdings
HEWI Portfolio Management
HEWI Tax Exposures
HEWI Fund Structure
HEWI Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of HEWI. HEWI is rated a 1 out of 5.
HEWI Sector/Industry Breakdown
HEWI TOP 10 HOLDINGS
HEWI Economic Development
HEWI Performance Statistics
HEWI BENCHMARK COMPARISON SUMMARY
HEWI BENCHMARK COMPARISON MARKET CAP SIZE