HEFA

iShares Currency Hedged MSCI EAFE ETF
C

49
*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 Charts And Performance

Price Chart ($)
Total Return Chart (%)
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Select ETFs to compare their performance:
PERFORMANCE [as of 10/17/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
HEFA 0.84% 2.14% 18.89% 10.19% 10.34% 8.55% --
HEFA (NAV) 0.77% 2.02% 18.77% 10.14% 10.30% 8.55% --
MSCI EAFE 100% Hedged to USD 0.70% 1.81% 18.42% 10.48% 10.42% -- --
MSCI World ex USA IMI 0.99% 0.94% 15.35% 5.65% 7.85% 4.95% 4.97%
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%
$2.94B
$9.25M
0.03%

HEFA Portfolio Data

$63.55B
15.97
1.56
4.05%
12/03/19
3

HEFA Index Data

Market Cap
Market Cap
MSCI World ex USA IMI

HEFA Portfolio Management

0.35%
-0.13%
3.17%
-2.50%

HEFA Tax Exposures

20.00% / 39.60%
0.35%
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 10/18/19
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

316,554
$9.25M
277,813
$8.16M
0.03%
$0.01
-0.01%
0.48% / -0.32%
None
100.00%
50,000
5.56
0.01%
0.10%
316
$30.04
5

HEFA Sector/Industry Breakdown


HEFA
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%

HEFA Top 10 Holdings

0.10%
-0.05%
100%

HEFA Countries


HEFA
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%

HEFA Regions


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

HEFA Economic Development


HEFA
Segment Benchmark
100.00%
100.00%

HEFA Performance Statistics

0.37
0.75
0.66
0.66
0.67%
MSCI World ex USA IMI

HEFA Benchmark Comparison Holdings

3
3549
911
77.75%

HEFA Benchmark Comparison Summary


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

HEFA Benchmark Comparison Market Cap Size


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