DEZU

iShares Adaptive Currency Hedged MSCI Eurozone ETF
F

45
*Unless otherwise stated, data provided by FactSet.

DEZU Fund Description

DEZU tracks a cap-weighted index of large- and midcap securities from the eurozone, while dynamically hedging currency risk for a U.S. dollar based investor.

DEZU Factset Analytics Insight

Launched in January 2016, DEZU caters to a growing desire among investors to put the currency hedge decision on autopilot when getting their international equity exposure. Like other currency hedged products from iShares, DEZU has a fund of fund structure and holds another ETF from iShares – EZU. In contrast to its fully hedged brethren though, the fund seeks to dynamically manage its currency exposure with a rules based approach. The currency hedge is applied in 25% increments (from 0 to 100%) based on four currency direction indicators: interest rate differentials, purchasing power parity, momentum and volatility.Holding a liquid ETF like EZU lowers costs for market makers and traders, which helps keep DEZU’s spreads tight. On the other hand, it leads to tracking error that drags down its Efficiency score. The tracking error doesn’t hurt investors though, as it merely reflects the fact that the underlying ETF continues to trade in New York long after underlying European markets close. DEZU expense ratio is not cheap but still in line with other currency hedged ETFs.Since DEZU excludes developed countries outside the euro block like the UK, Switzerland and Sweden it is not a good fit with our all-inclusive European benchmark. The currency hedge can take it even further away from the unhedged benchmark. Still a low Fit score is entirely consistent with the DEZU’s aims.

DEZU 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
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/15/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DEZU 2.67% 1.24% 17.43% 3.34% 9.90% -- --
DEZU (NAV) 3.31% 1.41% 17.61% 2.55% 11.23% -- --
MSCI EMU Adaptive Hedge to USD Index 3.47% 1.42% 17.30% -- -- -- --
MSCI Europe IMI 2.79% 0.32% 15.30% -0.89% 8.35% 1.86% 7.18%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DEZU Top 10 Countries

DEZU Top 10 Sectors

DEZU Top 10 Holdings

DEZU Summary Data

Blackrock
iShares
01/05/16
Open-Ended Fund
0.50%
$2.75M
$3.52K
0.11%

DEZU Portfolio Data

$56.28B
15.33
1.53
4.77%
12/03/19
2

DEZU Index Data

Market Cap
Market Cap
MSCI Europe IMI

DEZU Portfolio Management

0.50%
--
--
--

DEZU Tax Exposures

20.00% / 39.60%
0.54%
Qualified dividends
No

DEZU 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 -
Daily Spread
Premium/Discount
Volume

DEZU Factset Analytics Block Liquidity

As of 07/16/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DEZU. DEZU is rated a 2 out of 5.

DEZU Tradability

117
$3.52K
100
$2.73K
0.11%
$0.03
0.02%
5.27% / -3.54%
None
100.00%
50,000
0.00
0.01%
1.09%
--
$27.60
2

DEZU Sector/Industry Breakdown


DEZU
Segment Benchmark
19.19%
20.23%
14.98%
13.48%
14.41%
11.62%
10.67%
13.73%
8.91%
5.96%
7.90%
12.49%
7.67%
7.13%
6.08%
3.87%
5.82%
8.15%
4.38%
3.35%

DEZU TOP 10 HOLDINGS

0.05%
100%

DEZU Countries


DEZU
Segment Benchmark
34.56%
15.98%
27.35%
13.89%
10.96%
5.43%
9.54%
4.73%
6.89%
3.83%
3.16%
1.69%
3.07%
1.79%
1.51%
0.75%
0.97%
0.54%
0.74%
27.73%

DEZU Regions


DEZU
Segment Benchmark
98.49%
99.25%
1.51%
0.75%

DEZU Economic Development


DEZU
Segment Benchmark
100.00%
100.00%

DEZU Performance Statistics

0.56
0.76
0.71
0.71
0.61%
MSCI Europe IMI

DEZU BENCHMARK COMPARISON HOLDINGS

2
1414
242
44.14%

DEZU BENCHMARK COMPARISON SUMMARY


DEZU
Segment Benchmark
2
1414
$56.28B
$67.40B
15.33
16.61
1.53
1.73
3.36%
3.61%
Low
Low

DEZU BENCHMARK COMPARISON MARKET CAP SIZE


DEZU
Segment Benchmark
85.72%
74.21%
14.28%
19.36%
0.00%
5.78%
0.00%
0.64%