HEFA vs IVV
HEFA vs IVV
iShares Currency Hedged MSCI EAFE ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. HEFA delivered stronger 1-year returns. HEFA offers more diversification with 648 holdings.
Side-by-Side Comparison
| Metric | HEFA | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.03% | |
| AUM | $7.5B | $865.2B | |
| Dividend Yield | 2.95% | 1.09% | |
| Holdings | 786 | 508 | |
| YTD Return | +12.61% | +13.31% | |
| 1Y Return | +24.87% | +24.00% | |
| 3Y Return (annualized) | +18.17% | +21.16% | |
| 5Y Return (annualized) | +11.38% | +13.34% | |
| Volatility (annualized) | 12.3% | 15.1% | |
| Max Drawdown | -45.6% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 31, 2014 | May 15, 2000 |
HEFA vs IVV Performance
iShares Currency Hedged MSCI EAFE ETF (HEFA) is a ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year HEFA returned +24.87% while IVV returned +24.00%. Year to date, HEFA is up 12.61% versus a gain of 13.31% for IVV.
Over three years, HEFA compounded at +18.17% per year against +21.16% for IVV; over five years the annualized figures are +11.38% and +13.34% respectively. Across the full 13-year window we track, HEFA has the edge at +9.71% annualized vs +7.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 12.3% for HEFA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -45.6% for HEFA and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HEFA charges 0.35% per year while IVV charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, HEFA currently yields 2.95% against 1.09% for IVV.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, HEFA or IVV?
HEFA has an expense ratio of 0.35% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, HEFA or IVV?
Over the past year HEFA returned +24.87% vs +24.00% for IVV, so HEFA leads on 1-year performance. Over the longest common window we track (13 years), HEFA annualized +9.71% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, HEFA or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 12.3% for HEFA. Worst drawdown: HEFA -45.6% vs IVV -56.5%.
Should I hold both HEFA and IVV?
HEFA and IVV have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HEFA and IVV?
HEFA and IVV share 2 common holdings with a 0.2% weight overlap. Combined, they hold 1151 unique securities.
Which pays a higher dividend, HEFA or IVV?
HEFA yields 2.95% while IVV yields 1.09%, so HEFA currently pays the higher dividend yield.
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