DEFA

iShares Adaptive Currency Hedged MSCI EAFE ETF
*Unless otherwise stated, data provided by FactSet.

DEFA Fund Description

DEFA tracks a market-cap-weighted index of developed-market securities based in Europe, Australia and the Far East. It excludes the US and Canada, and small caps. The index dynamically hedges currency exposure for USD investors.

DEFA Factset Analytics Insight

DEFA follows the MSCI EAFE Adaptive Hedge to USD Index, a dynamically-hedged version of MSCI’s EAFE Index, which may be the best-known international index. DEFA’s holdings consist entirely of shares of the unhedged version of the fund, the very popular EFA, as well as a variety of currency forward contracts used to hedge against non-USD currency risk. Same as its parent fund, DEFA excludes both South Korea and Canada. The fund doesn’t use a typical static 100% hedge but rather a stepped hedge that can be 0, 25, 50, 75, or 100% of the portfolio value, reset monthly. The hedge amount is determined by 4 equally-weighted metrics: value, momentum, carry, and volatility. It is worth noting that because DEFA holds shares of unhedged EFA, and DEFA’s NAV comes from the price of EFA, not the NAV of EFA, wobbly tracking is a structural given. Differences in trading hours between the index’s local stocks and EFA in New York can produce large tracking differences, reflecting EFA’s price discovery after non-US markets close.

DEFA MSCI ESG Analytics Insight

iShares Adaptive Currency Hedged MSCI EAFE ETF has an MSCI ESG Fund Rating of AA based on a score of 7.31 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. iShares Adaptive Currency Hedged MSCI EAFE ETF ranks in the 87th percentile within its peer group and in the 69th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

DEFA Charts And Performance

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PERFORMANCE [as of 08/13/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DEFA 4.26% 16.12% -5.35% 5.43% 3.81% -- --
DEFA (NAV) 4.43% 16.37% -5.29% 5.52% 3.98% -- --
MSCI World ex USA IMI -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DEFA Summary Data

Blackrock
iShares
01/05/16
Open-Ended Fund
0.35%
$5.48M
$17.09K
0.12%

DEFA Portfolio Data

$63.06B
19.47
1.52
2.50%
12/14/20
2

DEFA Index Data

Market Cap
Market Cap
MSCI World ex USA IMI

DEFA Portfolio Management

0.35%
-0.24%
3.43%
-3.05%

DEFA Tax Exposures

20.00% / 39.60%
0.67%
Qualified dividends
No

DEFA Fund Structure

Open-Ended Fund
Yes
Yes
80% / 20%
N/A
N/A
High
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

DEFA Factset Analytics Block Liquidity

As of 08/14/20
5
4
3
2
1

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

DEFA Tradability

673
$17.09K
436
$11.03K
0.12%
$0.03
0.12%
1.89% / -0.59%
None
0.00%
50,000
0.01
--
0.09%
0
$27.29
4

DEFA Sector/Industry Breakdown


DEFA
Segment Benchmark
19.44%
21.09%
15.24%
15.49%
14.26%
12.20%
11.94%
10.77%
11.80%
11.47%
8.31%
8.90%
7.30%
8.27%
3.92%
3.75%
3.92%
3.47%
3.86%
4.57%

DEFA Top 10 Holdings

99.96%
0.04%
100%

DEFA Countries


DEFA
Segment Benchmark
25.18%
23.61%
14.59%
13.53%
10.77%
8.78%
10.38%
8.80%
9.17%
7.91%
6.69%
6.34%
4.42%
3.76%
3.28%
2.84%
3.08%
3.25%
2.41%
2.14%

DEFA Regions


DEFA
Segment Benchmark
62.39%
55.64%
36.76%
34.42%
0.45%
9.43%
0.41%
0.52%

DEFA Economic Development


DEFA
Segment Benchmark
100.00%
100.00%

DEFA Performance Statistics

0.64
1.03
0.91
1.20
1.09%
MSCI World ex USA IMI

DEFA MSCI ESG Ratings

7.31 / 10
69.20
87.45
11.45%
7.36%
136.77

DEFA Benchmark Comparison Holdings

2
3479
890
78.16%

DEFA Benchmark Comparison Summary


DEFA
Segment Benchmark
2
3479
$63.06B
$52.98B
19.47
19.89
1.52
1.49
3.27%
3.23%
Low
Low

DEFA Benchmark Comparison Market Cap Size


DEFA
Segment Benchmark
79.03%
68.19%
20.72%
22.53%
0.24%
8.07%
0.00%
1.22%