DEFA

iShares Adaptive Currency Hedged MSCI EAFE ETF
F

52
*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 Charts And Performance

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
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  • Max
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Select ETFs to compare their performance:
PERFORMANCE [as of 10/16/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DEFA 0.46% 0.87% 16.19% 8.98% 9.01% -- --
DEFA (NAV) 1.11% 1.10% 16.02% 7.40% 9.16% -- --
MSCI EAFE Adaptive Hedge to USD Index 0.99% 0.83% 15.53% -- -- -- --
MSCI World ex USA IMI 0.89% 0.39% 14.95% 5.20% 7.58% 5.16% 4.93%
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
0.34%
$8.37M
$6.43K
0.11%

DEFA Portfolio Data

$63.55B
15.97
1.56
5.13%
12/03/19
3

DEFA Index Data

Market Cap
Market Cap
MSCI World ex USA IMI

DEFA Portfolio Management

0.34%
--
--
--

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 10/17/19
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

163
$6.43K
78
$4.22K
0.11%
$0.03
0.12%
4.37% / -2.08%
None
100.00%
50,000
0.00
0.01%
0.09%
0
$27.91
4

DEFA Sector/Industry Breakdown


DEFA
Segment Benchmark
21.79%
23.41%
15.19%
15.41%
12.41%
11.01%
12.21%
11.82%
12.00%
10.39%
6.88%
7.68%
6.17%
6.74%
5.48%
6.30%
4.09%
3.63%
3.77%
3.61%

DEFA Top 10 Holdings

0.00%
100%

DEFA Countries


DEFA
Segment Benchmark
24.19%
22.76%
16.56%
15.11%
11.16%
9.13%
9.64%
8.11%
8.56%
7.42%
7.03%
6.47%
3.57%
3.13%
3.57%
3.01%
2.85%
2.49%
2.53%
2.72%

DEFA Regions


DEFA
Segment Benchmark
62.37%
55.50%
36.56%
33.99%
0.68%
10.01%
0.40%
0.50%

DEFA Economic Development


DEFA
Segment Benchmark
100.00%
100.00%

DEFA Performance Statistics

0.42
0.79
0.73
0.64
0.62%
MSCI World ex USA IMI

DEFA Benchmark Comparison Holdings

3
3549
911
77.75%

DEFA Benchmark Comparison Summary


DEFA
Segment Benchmark
3
3549
$63.55B
$53.20B
15.97
16.65
1.56
1.55
3.43%
3.31%
Low
Low

DEFA Benchmark Comparison Market Cap Size


DEFA
Segment Benchmark
79.28%
68.13%
20.49%
22.81%
0.23%
7.89%
0.00%
1.17%