HEGD vs HEWJ

Comparison between SWAN HEDGED EQUITY US LARGE CAP ETF (HEGD, ETF) and ISHARES CURRENCY HEDGED MSCI JAPAN ETF (HEWJ, ETF).

5-Year PerformanceHEWJ has outperformed HEGD, delivering a return of +22.1% compared to +8.1%

HEGD vs HEWJ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HEGD(ETF)	HEWJ(ETF)
Net Assets	$717M	$716M
Expense Ratio	0.87%	0.49%
Max Drawdown	14.56%	37.42%
Sharpe Ratio	1.15	1.55
5Y Beta	0.45	0.98
5Y Dividends CAGR	N/A	33.42%

Net Assets

Winner

HEGD

$717M

HEWJ

$716M

Expense Ratio

HEGD

0.87%

Winner

HEWJ

0.49%

Max Drawdown

Winner

HEGD

14.56%

HEWJ

37.42%

Sharpe Ratio

HEGD

1.15

Winner

HEWJ

1.55

5Y Beta

Winner

HEGD

0.45

HEWJ

0.98

5Y Dividends CAGR

HEGD

N/A

HEWJ

33.42%

HEGD vs HEWJ - Holdings Comparison

HEGD and HEWJ have 1 common holdings. Overlap is -317.07%

HEGD's top 25 holdings weight is 114.83%. HEWJ's top 25 holdings weight is 100.01%.

Rank	HEGD	HEWJ
#1	SPDR® S&P 500® ETF (SPY) - 91.90%	JPY/USD PURCHASED (n/a) - 321.92%
#2	OPTION ON S&P 500 PR (n/a) - 18.75%	ISHARES MSCI JAPAN ETF (EWJ) - 102.28%
#3	PUT ON S&P 500 DEC25 (n/a) - 3.54%	BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 1.27%
#4	OTHER ASSETS AND LIABILITIES (n/a) - 0.38%	USD CASH (n/a) - 0.00%
#5	FIRST AMERICAN GOVERNMENT OBLIGS X (FGXXX) - 0.26%	CASH OFFSET (n/a) - -8.39%
#6	US DOLLARS (n/a) - 0.00%	JPY/USD SOLD (n/a) - -317.07%
#7	N/A	N/A
#8	N/A	N/A
#9	N/A	N/A
#10	N/A	N/A
#11	N/A	N/A
#12	N/A	N/A
#13	N/A	N/A
#14	N/A	N/A
#15	N/A	N/A
#16	N/A	N/A
#17	N/A	N/A
#18	N/A	N/A
#19	N/A	N/A
#20	N/A	N/A
#21	N/A	N/A
#22	N/A	N/A
#23	N/A	N/A
#24	N/A	N/A
#25	N/A	N/A
Total Holdings	6	6

HEGD vs HEWJ - Historical Returns

Returns include dividend reinvestment.

Period	HEGD	HEWJ
1 month	+1.97%	+1.08%
3 months	+1.05%	+4.59%
6 months	+6.10%	+8.18%
1 year	+12.45%	+38.93%
5 years(CAGR)	+8.11%	+22.13%
10 years(CAGR)	N/A	+16.73%
Max(CAGR)	+9.48%	+14.13%

Winner

HEGD

+1.97%

HEWJ

+1.08%

HEGD

+1.05%

Winner

HEWJ

+4.59%

HEGD

+6.10%

Winner

HEWJ

+8.18%

HEGD

+12.45%

Winner

HEWJ

+38.93%

5Y(CAGR)

HEGD

+8.11%

Winner

HEWJ

+22.13%

10Y(CAGR)

HEGD

N/A

HEWJ

+16.73%

Max(CAGR)

HEGD

+9.48%

Winner

HEWJ

+14.13%

HEGD vs HEWJ - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	HEGD	HEWJ
2026	+6.47%	+21.25%
2025	+12.82%	+30.04%
2024	+15.60%	+25.12%
2023	+14.46%	+35.83%
2022	-11.12%	-4.22%
2021	+18.11%	+14.41%
2020	+0.99%	+9.12%
2019	N/A	+20.80%
2018	N/A	-14.88%
2017	N/A	+19.55%
2016	N/A	+1.29%
2015	N/A	+8.29%
2014	N/A	+20.54%

HEGD vs HEWJ Drawdown Comparison

The maximum drawdown for HEGD was -14.56%, occurring on Oct 12, 2022. Recovery took 495 trading sessions.

The maximum drawdown for HEWJ was -31.53%, occurring on Mar 16, 2020. Recovery took 192 trading sessions.

The current HEGD drawdown is -1.64%. The current HEWJ drawdown is -3.87%.

Rank	HEGD	HEWJ
#1	-14.56% Dec 29, 2021 - Dec 18, 2023	-31.53% Feb 6, 2020 - Nov 9, 2020
#2	-8.14% Feb 19, 2025 - Jun 24, 2025	-29.57% Aug 10, 2015 - Oct 10, 2017
#3	-4.58% Jul 10, 2024 - Aug 21, 2024	-21.57% Jan 23, 2018 - Feb 6, 2020
#4	-4.39% Jan 27, 2026 - Apr 15, 2026	-20.90% Jul 10, 2024 - Jun 27, 2025
#5	-3.57% Mar 28, 2024 - May 15, 2024	-16.03% Sep 13, 2021 - Nov 25, 2022
#6	-3.54% Sep 2, 2021 - Oct 26, 2021	-11.19% Sep 26, 2014 - Oct 31, 2014
#7	-3.38% Jun 2, 2026 - Aug 4, 2026	-10.37% Feb 25, 2026 - May 8, 2026
#8	-3.28% Feb 17, 2021 - Apr 5, 2021	-8.93% Jun 1, 2015 - Aug 10, 2015
#9	-2.84% Dec 6, 2024 - Jan 23, 2025	-8.77% Dec 5, 2014 - Feb 13, 2015
#10	-2.80% Nov 24, 2021 - Dec 23, 2021	-8.12% Nov 25, 2022 - Mar 3, 2023
#11	-2.79% Aug 30, 2024 - Sep 12, 2024	-7.89% Mar 6, 2014 - Jun 4, 2014
#12	-2.62% Oct 29, 2025 - Dec 11, 2025	-7.45% Sep 19, 2023 - Nov 17, 2023
#13	-2.50% May 7, 2021 - Jun 24, 2021	-7.23% Mar 8, 2023 - Apr 17, 2023
#14	-2.34% Oct 14, 2024 - Nov 6, 2024	-6.97% Apr 5, 2021 - Sep 2, 2021
#15	-2.05% Dec 11, 2025 - Jan 9, 2026	-6.88% Jun 22, 2026 - Aug 13, 2026

Correlation

Correlation between HEGD and HEWJ is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.

0.97

-101

Dividend Comparison (2014 - 2026)

HEGD vs HEWJ dividend yield comparison.

Year	HEGD	HEWJ
2026	0.00%	0.54%
2025	0.36%	5.10%
2024	0.43%	2.20%
2023	0.39%	2.02%
2022	0.87%	47.68%
2021	0.31%	2.03%
2020	0.00%	1.20%
2019	0.00%	2.78%
2018	0.00%	1.37%
2017	0.00%	1.21%
2016	0.00%	1.88%
2015	0.00%	3.25%
2014	0.00%	2.15%