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FEDMvsHEFAETF Comparison

ETF 1

FEDM

FlexShares ESG & Climate Developed Markets ex-US Core Index Fund

This fund is part of

DM Large & Mid Cap

-0.57%

Full FEDM fund page

VS

ETF 2

HEFA

iShares Currency Hedged MSCI EAFE ETF

This fund is part of

DM Large & Mid Cap

-0.57%

Full HEFA fund page

FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (FEDM) and iShares Currency Hedged MSCI EAFE ETF (HEFA) belong to the same industry segment: DM Large & Mid Cap. FEDM's top 3 sector exposures are Financials, Industrials and Health Care. In contrast, HEFA's top sector exposures are Financials, Industrials and Information Technology. FEDM is less expensive with a Total Expense Ratio (TER) of 0.14%, versus 0.7% for HEFA. FEDM is up 3.13% year-to-date (YTD) with +$2M in YTD flows. HEFA performs better with 5.19% YTD performance, and -$107M in YTD flows. Run a side-by-side ETF comparison of FEDM and HEFA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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FEDM vs HEFA performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/28/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FEDM HEFA	+7.40%+4.80%	-0.39%+1.56%	+3.13%+5.19%	+20.52%+25.08%	+42.80%+57.70%	n/a+83.38%
Flows	FEDM HEFA	--$27M	--$122M	+$2M-$107M	+$14M-$2.06B	+$22M+$1.54B	-+$2.59B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FEDM HEFA	+19.21%+17.20%	+13.03%+12.31%	+13.55%+13.36%	n/a+13.80%
Max drawdown	FEDM HEFA	-10.69%-9.45%	-10.69%-9.45%	-14.86%-14.34%	n/a-14.65%
Max drawdown duration	FEDM HEFA	58d63d	58d63d	214d65d	n/a381d

Trading data

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	FEDM	HEFA
Last sale 4/29/2026 at 1:30 PM	$60.19	$43.51
Previous close 04/29/2026	$60.85	$43.83
Consolidated volume 04/29/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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	FEDM	HEFA
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/29/2026 at 1:30 PM

Live

Closed

	FEDM	HEFA
Last price	$60.19	$43.51
1D performance	-1.07%	-0.74%
AuM	$77.92 M	$6.92 B
E/R	0.14%	0.7%

Characteristics

	FEDM	HEFA
Management strategy	Passive	Passive
Provider	FlexShares	iShares
Benchmark	Northern Trust ESG & Climate Developed Markets ex-US Core Index	MSCI EAFE Index
N° of holdings	210	649
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	September 21, 2021	January 31, 2014
ESG	Yes	No

More FEDM data on Trackinsight

More HEFA data on Trackinsight

Exposure

Countries

FEDM

Japan

19.05%

United Kingdom

13.79%

Canada

11.59%

France

8.66%

Germany

8.32%

Other

38.59%

HEFA

Japan

22.39%

United Kingdom

14.42%

Switzerland

9.4%

France

9.32%

Germany

8.91%

Other

35.57%

Sectors

FEDM

Financials

25.84%

Industrials

17.21%

Health Care

9.47%

Information Techn.

8.94%

Other

38.55%

HEFA

Financials

23.43%

Industrials

18.27%

Information Techn.

8.48%

Consumer Discreti.

8.24%

Health Care

8.03%

Other

33.55%

Diversification

FEDM

Total weight of top 15 holdings out of 15

22.15%

HEFA

Total weight of top 15 holdings out of 15

17.81%

Top 15 holdings

Data as of March 31, 2026

FEDM

ASML HOLDING

2.49%

SHELL PLC

1.82%

ROYAL BK CANADA

1.74%

ASTRAZENECA

1.68%

NOVARTIS

1.63%

COMMONWEALTH BANK OF AUSTRALIA

1.58%

ENBRIDGE

1.38%

SCHNEIDER ELECTRIC SE

1.33%

SIEMENS

1.32%

ZURICH INSURANCE

1.25%

SAP SE

1.21%

HITACHI

1.20%

CDN IMPERIAL BK

1.20%

NESTLE SA

1.19%

SIEMENS ENERGY AG

1.12%

HEFA

ASML HOLDING

2.48%

ASTRAZENECA

1.49%

NOVARTIS

1.41%

HSBC HOLDINGS

1.37%

CH1499059983

1.36%

SHELL PLC

1.33%

NESTLE SA

1.24%

COMMONWEALTH BANK OF AUSTRALIA

0.95%

TOYOTA

0.93%

TOTALENERGIES SE

0.91%

MITSUBISHI UFJ FINANCIAL GROUP

0.91%

SIEMENS

0.89%

SAP SE

0.87%

BHP GROUP LTD

0.87%

BANCO SANTANDER SA

0.79%

Frequently asked questions about FEDM and HEFA

FEDMvsHEFAETF Comparison

FlexShares ESG & Climate Developed Markets ex-US Core Index Fund

iShares Currency Hedged MSCI EAFE ETF

FEDM vs HEFA performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FEDM and HEFA ETFs performed in 2026?

As of April 28, 2026, FEDM is up 3.13% year-to-date (YTD), while HEFA has returned 5.19%. That puts HEFA better performer ahead so far this year.

Which ETF is attracting more investor money: FEDM or HEFA?

Year-to-date, the FEDM ETF saw +$2M in flows, compared to -$107M for HEFA.

Which ETF is more volatile: FEDM or HEFA?

Over the past year, FEDM had a volatility of 13.03%, while HEFA experienced 12.31%.

Which ETF is bigger: FEDM or HEFA?

As of April 28, 2026, FEDM holds $77.92 M in assets under management (AUM), while HEFA manages $6.92 B.

What sectors do the FEDM and HEFA ETFs invest in?

FEDM leans toward sectors like Financials, Industrials and Health Care. Meanwhile, HEFA focuses on Financials, Industrials and Information Technology.

What are the top holdings of the FEDM ETF and HEFA ETF?

FEDM top holdings include ASML HOLDING, SHELL PLC and ROYAL BK CANADA. HEFA holds in its top three: ASML HOLDING, ASTRAZENECA and NOVARTIS.

Which ETF is more diversified: FEDM or HEFA?

FEDM holds 221 securities with 22.15% of its assets in the top 15. HEFA has 690 securities and a top 15 weight of 17.81%.

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