HEZU

iShares Currency Hedged MSCI Eurozone ETF
D

38
*Unless otherwise stated, data provided by FactSet.

HEZU Fund Description

The iShares Currency Hedged MSCI Eurozone ETF tracks a cap-weighted index of large- and midcap securities from the eurozone, while hedging out its exposure to the euro currency relative to the US dollar.

HEZU Factset Analytics Insight

HEZU offers straightforward exposure to eurozone countries, hedged for currency exposure for US investors. By design, it excludes the UK, Switzerland and Sweden, so it doesn’t Fit well with our broad European benchmark. Its currency hedge also contributes the low Fit score.

HEZU literally holds the blockbuster exchange-traded fund, EZU, overlaid with short forward contracts to neutralize euro exposure. This arrangement creates tracking error that’s akin to fair-market valuation of NAV. The tracking error—and HEZU’s low Efficiency score—is caused by the difference in market hours (EZU in New York and the index stocks in Europe) rather than by sloppy portfolio management. On the other hand, using the ultra-liquid EZU as a single holding for creation/redemption purposes significantly reduces hedging costs for market makers, which in turn trickles down to lower overall trading costs to investors. HEZU’s expense ratio isn’t as cheap as some vanilla funds, but is similar to currency-hedged competitors in the segment. Overall, this large and liquid offering provides solid exposure to the eurozone without the currency risk and return.

HEZU CHARTS AND PERFORMANCE

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 06/21/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
HEZU -3.81% 2.75% 1.54% 2.62% 5.64% -- --
HEZU (NAV) -3.81% 2.89% 1.57% 2.69% 5.71% -- --
MSCI EMU 100% Hedged to USD Index -2.31% 3.23% 2.51% 3.93% 6.34% -- --
MSCI Europe IMI -4.65% -2.31% -3.25% 5.89% 3.82% 6.98% 2.74%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

HEZU Top 10 Countries

HEZU Top 10 Sectors

HEZU Top 10 Holdings

HEZU Summary Data

BlackRock
iShares
07/10/14
Open-Ended Fund
0.52%
$1.65B
$26.50M
0.03%

HEZU Portfolio Data

$60.40B
16.25
1.69
1.89%
07/03/18
241

HEZU Index Data

Market Cap
Market Cap
MSCI Europe IMI

HEZU Portfolio Management

0.52%
-0.33%
2.27%
-3.70%

HEZU Tax Exposures

20.00% / 39.60%
--
Qualified dividends
No

HEZU Fund Structure

Open-Ended Fund
Yes
No
80% / 20%
N/A
N/A
Low
Daily
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

HEZU Factset Analytics Block Liquidity

As of 06/22/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of HEZU. HEZU is rated a 4 out of 5.

HEZU Tradability

859,645
$26.50M
668,527
$20.36M
0.03%
$0.01
0.00%
0.14% / -0.14%
None
100.00%
50,000
13.37
0.01%
0.66%
49
$30.29
4

HEZU Sector/Industry Breakdown


HEZU
Segment Benchmark
21.28%
22.14%
14.91%
12.01%
14.51%
12.76%
9.01%
7.93%
8.95%
11.62%
7.91%
5.28%
7.28%
11.14%
5.73%
8.15%
5.02%
3.09%
4.23%
3.63%

HEZU TOP 10 HOLDINGS

99.94%
0.14%
-0.08%
100%

HEZU Countries


HEZU
Segment Benchmark
32.61%
15.75%
28.88%
14.67%
10.79%
5.50%
9.64%
5.02%
7.57%
4.48%
3.21%
1.87%
3.11%
1.77%
1.42%
0.70%
0.87%
28.95%
0.78%
0.56%

HEZU Regions


HEZU
Segment Benchmark
98.58%
99.30%
1.42%
0.70%

HEZU Economic Development


HEZU
Segment Benchmark
100.00%
100.00%

HEZU Performance Statistics

0.22
0.55
0.58
0.42
0.63%
MSCI Europe IMI

HEZU BENCHMARK COMPARISON HOLDINGS

241
1415
241
45.57%

HEZU BENCHMARK COMPARISON SUMMARY


HEZU
Segment Benchmark
241
1415
$60.40B
$65.32B
16.25
17.42
1.69
1.85
2.96%
3.24%
--
--

HEZU BENCHMARK COMPARISON MARKET CAP SIZE


HEZU
Segment Benchmark
90.30%
75.94%
9.65%
18.49%
0.05%
5.23%
0.00%
0.35%

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.