THRO vs HEFA

Comparison between BlackRock Future U.S. Themes ETF (THRO, ETF) and ISHARES CURRENCY HEDGED MSCI EAFE ETF (HEFA, ETF).

5-Year PerformanceHEFA has outperformed THRO, delivering a return of +13.9% compared to +13.1%

THRO vs HEFA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	THRO(ETF)	HEFA(ETF)
Net Assets	$7.10B	$7.10B
Expense Ratio	0.57%	0.35%
Max Drawdown	26.97%	32.39%
Sharpe Ratio	1.38	1.78
5Y Beta	1.01	0.74
P/E Ratio	27.47	N/A
Forward P/E	21.34	N/A
PEG Ratio	0.50	N/A
5Y Dividends CAGR	N/A	20.05%
5Y EPS CAGR	25.56%	N/A
Debt to Equity	44.55%	N/A
P/S Ratio	3.24	N/A
P/B Ratio	6.14	N/A

Net Assets

THRO

$7.10B

HEFA

$7.10B

Expense Ratio

THRO

0.57%

Winner

HEFA

0.35%

Max Drawdown

Winner

THRO

26.97%

HEFA

32.39%

Sharpe Ratio

THRO

1.38

Winner

HEFA

1.78

5Y Beta

THRO

1.01

Winner

HEFA

0.74

P/E Ratio

THRO

27.47

HEFA

N/A

Forward P/E

THRO

21.34

HEFA

N/A

PEG Ratio

THRO

0.50

HEFA

N/A

5Y Dividends CAGR

THRO

N/A

HEFA

20.05%

5Y EPS CAGR

THRO

25.56%

HEFA

N/A

Debt to Equity

THRO

44.55%

HEFA

N/A

P/S Ratio

THRO

3.24

HEFA

N/A

P/B Ratio

THRO

6.14

HEFA

N/A

THRO vs HEFA - Holdings Comparison

THRO and HEFA have 1 common holdings. Overlap is -35.17%

THRO's top 25 holdings weight is 68.00%. HEFA's top 25 holdings weight is 173.26%.

Rank	THRO	HEFA
#1	APPLE INC (AAPL) - 8.03%	ISHARES MSCI EAFE ETF (EFA) - 99.25%
#2	NVIDIA CORP (NVDA) - 7.57%	EUR/USD PURCHASED (n/a) - 35.17%
#3	MICROSOFT CORP (MSFT) - 5.30%	JPY/USD PURCHASED (n/a) - 23.62%
#4	AMAZON.COM INC (AMZN) - 4.98%	GBP/USD PURCHASED (n/a) - 14.47%
#5	ALPHABET INC CLASS A (GOOGL) - 4.50%	CHF/USD PURCHASED (n/a) - 9.47%
#6	JPMORGAN CHASE & CO (JPM) - 3.25%	AUD/USD PURCHASED (n/a) - 6.65%
#7	MICRON TECHNOLOGY INC (MU) - 3.13%	SEK/USD PURCHASED (n/a) - 3.30%
#8	BROADCOM INC (AVGO) - 2.92%	HKD/USD PURCHASED (n/a) - 1.84%
#9	ALPHABET INC CLASS C (GOOG) - 2.46%	DKK/USD PURCHASED (n/a) - 1.70%
#10	CATERPILLAR INC (CAT) - 2.41%	SGD/USD PURCHASED (n/a) - 1.46%
#11	WALMART INC (WMT) - 2.19%	ILS/USD PURCHASED (n/a) - 0.94%
#12	APPLIED MATERIALS INC (AMAT) - 2.05%	CASH OFFSET (n/a) - 0.69%
#13	EXXON MOBIL CORP (XOM) - 2.01%	NOK/USD PURCHASED (n/a) - 0.67%
#14	JOHNSON & JOHNSON (JNJ) - 1.82%	NZD/USD PURCHASED (n/a) - 0.18%
#15	VISA INC CLASS A (V) - 1.74%	BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.05%
#16	CISCO SYSTEMS INC (CSCO) - 1.63%	USD CASH (n/a) - 0.02%
#17	RTX CORP (RTX) - 1.60%	NZD/USD SOLD (n/a) - -0.18%
#18	PROCTER & GAMBLE CO (PG) - 1.58%	NOK/USD SOLD (n/a) - -0.67%
#19	INTEL CORP (INTC) - 1.38%	ILS/USD SOLD (n/a) - -0.94%
#20	TJX COMPANIES INC (TJX) - 1.36%	SGD/USD SOLD (n/a) - -1.46%
#21	ADVANCED MICRO DEVICES INC (AMD) - 1.34%	DKK/USD SOLD (n/a) - -1.70%
#22	TESLA INC (TSLA) - 1.33%	HKD/USD SOLD (n/a) - -1.84%
#23	NORTHROP GRUMMAN CORP (NOC) - 1.24%	SEK/USD SOLD (n/a) - -3.30%
#24	META PLATFORMS INC CLASS A (META) - 1.19%	AUD/USD SOLD (n/a) - -6.65%
#25	PFIZER INC (PFE) - 0.99%	CHF/USD SOLD (n/a) - -9.48%
Total Holdings	242	28

THRO vs HEFA - Historical Returns

Returns include dividend reinvestment.

Period	THRO	HEFA
1 month	-0.59%	+2.31%
3 months	+15.66%	+11.39%
6 months	+8.78%	+12.33%
1 year	+23.17%	+29.36%
5 years(CAGR)	+13.13%	+13.94%
10 years(CAGR)	N/A	+12.68%
Max(CAGR)	+13.13%	+10.75%

THRO

-0.59%

Winner

HEFA

+2.31%

Winner

THRO

+15.66%

HEFA

+11.39%

THRO

+8.78%

Winner

HEFA

+12.33%

THRO

+23.17%

Winner

HEFA

+29.36%

5Y(CAGR)

THRO

+13.13%

Winner

HEFA

+13.94%

10Y(CAGR)

THRO

N/A

HEFA

+12.68%

Max(CAGR)

Winner

THRO

+13.13%

HEFA

+10.75%

THRO vs HEFA - Annual Returns (2014 - 2026)

Returns include dividend reinvestment.

Year	THRO	HEFA
2026	+9.85%	+10.72%
2025	+15.04%	+24.11%
2024	+33.44%	+13.79%
2023	+25.34%	+18.27%
2022	-17.91%	-5.86%
2021	+2.14%	+19.07%
2020	N/A	+0.72%
2019	N/A	+27.05%
2018	N/A	-9.58%
2017	N/A	+15.19%
2016	N/A	+8.06%
2015	N/A	+3.94%
2014	N/A	+6.13%

THRO vs HEFA Drawdown Comparison

The maximum drawdown for THRO was -26.54%, occurring on Sep 30, 2022. Recovery took 494 trading sessions.

The maximum drawdown for HEFA was -32.39%, occurring on Mar 16, 2020. Recovery took 226 trading sessions.

The current THRO drawdown is -2.91%. The current HEFA drawdown is -1.61%.

Rank	THRO	HEFA
#1	-26.54% Dec 27, 2021 - Dec 13, 2023	-32.39% Feb 12, 2020 - Jan 5, 2021
#2	-19.07% Jan 23, 2025 - Jun 30, 2025	-23.14% May 27, 2015 - Mar 1, 2017
#3	-10.87% Jan 27, 2026 - Apr 15, 2026	-15.43% Jan 23, 2018 - Apr 12, 2019
#4	-9.28% Jul 16, 2024 - Aug 23, 2024	-14.77% Jan 4, 2022 - Jan 23, 2023
#5	-6.49% Mar 22, 2024 - May 15, 2024	-14.28% Feb 18, 2025 - May 12, 2025
#6	-5.40% Oct 29, 2025 - Dec 23, 2025	-9.79% Jul 12, 2024 - Oct 14, 2024
#7	-5.36% Aug 23, 2024 - Sep 19, 2024	-9.52% Feb 25, 2026 - May 21, 2026
#8	-5.01% Jun 2, 2026 - Jun 10, 2026	-9.48% Sep 4, 2014 - Nov 18, 2014
#9	-4.87% Dec 4, 2024 - Jan 22, 2025	-7.49% Dec 5, 2014 - Jan 26, 2015
#10	-3.12% Oct 18, 2024 - Nov 6, 2024	-6.87% Jul 3, 2019 - Sep 12, 2019
#11	-2.91% Oct 8, 2025 - Oct 24, 2025	-6.78% Jul 31, 2023 - Nov 24, 2023
#12	-2.80% Jan 12, 2026 - Jan 27, 2026	-5.83% Mar 3, 2023 - Apr 10, 2023
#13	-2.69% Dec 26, 2023 - Jan 10, 2024	-5.59% Nov 16, 2021 - Jan 3, 2022
#14	-2.52% Nov 8, 2024 - Nov 25, 2024	-4.97% Apr 29, 2019 - Jul 1, 2019
#15	-2.39% Jul 28, 2025 - Aug 8, 2025	-4.84% Jun 19, 2014 - Sep 4, 2014

Correlation

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

0.97

-101

Dividend Comparison (2014 - 2026)

THRO vs HEFA dividend yield comparison.

Year	THRO	HEFA
2026	0.15%	0.00%
2025	0.15%	4.40%
2024	0.73%	3.09%
2023	0.55%	3.02%
2022	0.90%	25.14%
2021	0.00%	3.06%
2020	0.00%	2.10%
2019	0.00%	7.56%
2018	0.00%	4.58%
2017	0.00%	2.55%
2016	0.00%	3.17%
2015	0.00%	3.54%
2014	0.00%	3.40%