HEFA vs IEFA: Differences, Returns & Fees
HEFA and IEFA hold 0% of their weight in the same names, and HEFA returned +19.3% over the year. Net assets on Oct 9, 2026: $7.5bn for iShares Currency Hedged MSCI EAFE ETF and $189.5bn for iShares Core MSCI EAFE ETF.
IEFA costs 0.28 points a year less; their one-year returns differ by 5.4 points; IEFA is far larger, $189.5bn against $7.5bn.
| HEFA | IEFA | |
|---|---|---|
| Expense ratio | 0.35% | 0.07% |
| Net assets | $7.5bn | $189.5bn |
| Total return, 1 year | +19.3% | +13.9% |
| What it tracks | not read by ETFIQ | MSCI EAFE IMI Index |
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 100.0% | 12.2% |
| Below its high | 3.2%, high on Aug 13, 2026 | 4.8%, high on Aug 25, 2026 |
Holdings in common uses holdings dated Oct 8, 2026 and Oct 9, 2026.
What they hold in common
By the books each fund has filed, HEFA and IEFA hold 0% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 8, 2026 and Oct 9, 2026.
half
0% in common
On the same fields
HEFA and IEFA on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
HEFA in plain words
HEFA tracks an index. Over the year to Oct 9, 2026 it returned +19.3% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.35% a year. By its holdings published by its issuer for Oct 9, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 97 positions, with the top ten at 100.0%. It sat 3.2% below its high of Aug 13, 2026 on Oct 9, 2026.
IEFA in plain words
IEFA tracks the MSCI EAFE. Over the year to Oct 9, 2026 it returned +13.9% with distributions reinvested, against +17.3% for the S&P 500. The prospectus expense ratio is 0.07% a year. By its holdings published by its issuer for Oct 8, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 2,628 positions, with the top ten at 12.2%. It sat 4.8% below its high of Aug 25, 2026 on Oct 9, 2026.
Questions people ask
- Which returned more over the last year, HEFA or IEFA?
- In the year to Oct 9, 2026, with distributions reinvested, HEFA returned +19.3% and IEFA +13.9%.
- Which is cheaper, HEFA or IEFA?
- IEFA is cheaper, by 0.28 percentage points a year. That is about $28 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, HEFA against IEFA, data as of Oct 9, 2026. https://etfiq.com/compare/any/hefa-vs-iefa
ETFIQ. (Oct 9, 2026). HEFA against IEFA. Retrieved from https://etfiq.com/compare/any/hefa-vs-iefa
[HEFA against IEFA (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/any/hefa-vs-iefa)
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