HEFA vs SPY
Comparison between ISHARES CURRENCY HEDGED MSCI EAFE ETF (HEFA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceHEFA has outperformed SPY, delivering a return of +13.9% compared to +13.2%
HEFA vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
HEFA
$7.10B
Winner
SPY
$784B
Expense Ratio
HEFA
0.35%
Winner
SPY
0.09%
Max Drawdown
Winner
HEFA
32.39%
SPY
56.47%
Sharpe Ratio
Winner
HEFA
1.78
SPY
1.54
5Y Beta
Winner
HEFA
0.74
SPY
1.00
P/E Ratio
HEFA
N/A
SPY
27.62
Forward P/E
HEFA
N/A
SPY
21.11
5Y Dividends CAGR
Winner
HEFA
20.05%
SPY
6.00%
5Y EPS CAGR
HEFA
N/A
SPY
25.30%
Debt to Equity
HEFA
N/A
SPY
31.11%
P/S Ratio
HEFA
N/A
SPY
3.49
P/B Ratio
HEFA
N/A
SPY
5.30
HEFA vs SPY - Holdings Comparison
HEFA and SPY have 1 common holdings. Overlap is -35.17%
HEFA's top 25 holdings weight is 173.26%. SPY's top 25 holdings weight is 51.24%.
| Rank | HEFA | SPY |
|---|---|---|
| #1 | ISHARES MSCI EAFE ETF (EFA) - 99.25% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | EUR/USD PURCHASED (n/a) - 35.17% | APPLE INC (AAPL) - 6.81% |
| #3 | JPY/USD PURCHASED (n/a) - 23.62% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | GBP/USD PURCHASED (n/a) - 14.47% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | CHF/USD PURCHASED (n/a) - 9.47% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | AUD/USD PURCHASED (n/a) - 6.65% | BROADCOM INC (AVGO) - 2.77% |
| #7 | SEK/USD PURCHASED (n/a) - 3.30% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | HKD/USD PURCHASED (n/a) - 1.84% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | DKK/USD PURCHASED (n/a) - 1.70% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | SGD/USD PURCHASED (n/a) - 1.46% | TESLA INC (TSLA) - 1.76% |
| #11 | ILS/USD PURCHASED (n/a) - 0.94% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | CASH OFFSET (n/a) - 0.69% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | NOK/USD PURCHASED (n/a) - 0.67% | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | NZD/USD PURCHASED (n/a) - 0.18% | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.05% | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | USD CASH (n/a) - 0.02% | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | NZD/USD SOLD (n/a) - -0.18% | VISA INC CLASS A (V) - 0.87% |
| #18 | NOK/USD SOLD (n/a) - -0.67% | INTEL CORP (INTC) - 0.85% |
| #19 | ILS/USD SOLD (n/a) - -0.94% | WALMART INC (WMT) - 0.82% |
| #20 | SGD/USD SOLD (n/a) - -1.46% | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | DKK/USD SOLD (n/a) - -1.70% | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | HKD/USD SOLD (n/a) - -1.84% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | SEK/USD SOLD (n/a) - -3.30% | CATERPILLAR INC (CAT) - 0.68% |
| #24 | AUD/USD SOLD (n/a) - -6.65% | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | CHF/USD SOLD (n/a) - -9.48% | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 28 | 505 |
HEFA vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
HEFA
+2.31%
SPY
-1.37%
3M
HEFA
+11.39%
Winner
SPY
+12.22%
6M
Winner
HEFA
+12.33%
SPY
+7.20%
1Y
Winner
HEFA
+29.36%
SPY
+23.58%
5Y(CAGR)
Winner
HEFA
+13.94%
SPY
+13.19%
10Y(CAGR)
HEFA
+12.68%
Winner
SPY
+15.12%
Max(CAGR)
Winner
HEFA
+10.75%
SPY
+8.44%
HEFA vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | HEFA | SPY |
|---|---|---|
| 2026 | +10.72% | +7.95% |
| 2025 | +24.11% | +18.00% |
| 2024 | +13.79% | +25.59% |
| 2023 | +18.27% | +26.72% |
| 2022 | -5.86% | -18.64% |
| 2021 | +19.07% | +30.52% |
| 2020 | +0.72% | +17.28% |
| 2019 | +27.05% | +31.09% |
| 2018 | -9.58% | -5.24% |
| 2017 | +15.19% | +20.78% |
| 2016 | +8.06% | +13.59% |
| 2015 | +3.94% | +1.31% |
| 2014 | +6.13% | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
HEFA vs SPY Drawdown Comparison
The maximum drawdown for HEFA was -32.39%, occurring on Mar 16, 2020. Recovery took 226 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current HEFA drawdown is -1.61%. The current SPY drawdown is -3.18%.
| Rank | HEFA | SPY |
|---|---|---|
| #1 | -32.39% Feb 12, 2020 - Jan 5, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -23.14% May 27, 2015 - Mar 1, 2017 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -15.43% Jan 23, 2018 - Apr 12, 2019 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -14.77% Jan 4, 2022 - Jan 23, 2023 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -14.28% Feb 18, 2025 - May 12, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -9.79% Jul 12, 2024 - Oct 14, 2024 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -9.52% Feb 25, 2026 - May 21, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -9.48% Sep 4, 2014 - Nov 18, 2014 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -7.49% Dec 5, 2014 - Jan 26, 2015 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -6.87% Jul 3, 2019 - Sep 12, 2019 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -6.78% Jul 31, 2023 - Nov 24, 2023 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.83% Mar 3, 2023 - Apr 10, 2023 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -5.59% Nov 16, 2021 - Jan 3, 2022 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.97% Apr 29, 2019 - Jul 1, 2019 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.84% Jun 19, 2014 - Sep 4, 2014 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between HEFA and SPY is 0.99 which considered as a very strong positive correlation - the stocks move almost identically together.
0.99
-101
Dividend Comparison (1999 - 2026)
HEFA vs SPY dividend yield comparison.
| Year | HEFA | SPY |
|---|---|---|
| 2026 | 0.00% | 0.50% |
| 2025 | 4.40% | 1.07% |
| 2024 | 3.09% | 1.21% |
| 2023 | 3.02% | 1.40% |
| 2022 | 25.14% | 1.65% |
| 2021 | 3.06% | 1.20% |
| 2020 | 2.10% | 1.52% |
| 2019 | 7.56% | 1.75% |
| 2018 | 4.58% | 2.04% |
| 2017 | 2.55% | 1.80% |
| 2016 | 3.17% | 2.03% |
| 2015 | 3.54% | 2.06% |
| 2014 | 3.40% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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