HEFA

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

HEFA Fund Description

HEFA tracks an index of large- and midcap companies from Europe, the Far East and Australia. The fund fully hedges out underlying currency exposure relative to the US dollar.

HEFA Factset Analytics Insight

By shorting forward currency contracts, HEFA fully neutralizes the currency exposure of its underlying securities, thereby providing shareholders with a “purer” equity exposure to developed international firms. Since HEFA holds iShares’ EFA for its equity exposure, it is in essence a currency-hedged version of EFA. Holding EFA is the primary distinction between HEFA and Deutsche's DBEF, which tracks the same index—since EFA is so liquid, market makers have less risk and cost associated with creations, leading to tighter spreads and more robust block liquidity. Holding EFA creates tracking distortions however since EFA trades while securities in the index don’t, and EFA’s price is part of HEFA’s NAV.Overall, HEFA provides great coverage of international companies, except that it excludes Canada altogether. HEFA also excludes small-caps, so the fund leans slightly larger than our neutral benchmark. Meanwhile, its fee is not cheap for the segment, but HEFA’s lower trading costs—due to tighter spreads—should compensate investors for this higher fee.

HEFA MSCI ESG Analytics Insight

iShares 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 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.

HEFA Charts And Performance

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PERFORMANCE [as of 08/05/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
HEFA -0.94% 9.98% -9.25% 2.14% 2.64% 3.21% --
HEFA (NAV) -0.76% 10.15% -9.13% 2.27% 2.68% 3.24% --
MSCI EAFE 100% Hedged to USD -0.48% 9.62% -8.82% 1.80% 3.06% 3.52% --
MSCI World ex USA IMI 4.60% 17.08% -6.33% 5.10% 1.61% 3.18% 5.08%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

HEFA Summary Data

Blackrock
iShares
01/31/14
Open-Ended Fund
0.35%
$2.31B
$20.54M
0.04%

HEFA Portfolio Data

$63.06B
19.47
1.52
5.11%
12/02/20
893

HEFA Index Data

Market Cap
Market Cap
MSCI World ex USA IMI

HEFA Portfolio Management

0.35%
-0.24%
3.37%
-3.28%

HEFA Tax Exposures

20.00% / 39.60%
1.21%
Qualified dividends
No

HEFA Fund Structure

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

HEFA Factset Analytics Block Liquidity

As of 08/06/20
5
4
3
2
1

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

HEFA Tradability

742,697
$20.54M
593,456
$16.64M
0.04%
$0.01
0.00%
0.30% / -0.41%
None
0.00%
50,000
11.87
0.00%
0.10%
11
$27.35
5

HEFA Sector/Industry Breakdown


HEFA
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%

HEFA Top 10 Holdings

95.91%
2.81%
1.28%
100%

HEFA Countries


HEFA
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%

HEFA Regions


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

HEFA Economic Development


HEFA
Segment Benchmark
100.00%
100.00%

HEFA Performance Statistics

0.56
0.99
0.80
1.18
1.21%
MSCI World ex USA IMI

HEFA MSCI ESG Ratings

7.31 / 10
68.97
87.41
11.38%
7.31%
136.77

HEFA Benchmark Comparison Holdings

893
3479
890
78.16%

HEFA Benchmark Comparison Summary


HEFA
Segment Benchmark
893
3479
$63.06B
$52.98B
19.47
19.89
1.52
1.49
3.27%
3.23%
Low
Low

HEFA Benchmark Comparison Market Cap Size


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