FENIvsHEFAETF Comparison
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Fidelity Enhanced International ETF (FENI) and iShares Currency Hedged MSCI EAFE ETF (HEFA) belong to the same industry segment: DM Large & Mid Cap. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. FENI is less expensive with a Total Expense Ratio (TER) of 0.28%, versus 0.7% for HEFA. FENI is up 12.14% year-to-date (YTD) with +$4.67B in YTD flows. HEFA performs better with 13.83% YTD performance, and -$48M in YTD flows. Run a side-by-side ETF comparison of FENI 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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FENI vs HEFA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FENI HEFA | -3.50%-2.73% | +0.23%+1.44% | +12.14%+13.83% | +18.25%+22.48% | n/a+65.87% | n/a+85.36% |
| Flows | FENI HEFA | +$124M-$115M | +$1.31B+$197M | +$4.67B-$48M | +$6.18B-$286M | -+$1.39B | -+$2.42B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FENI HEFA | +10.90%+10.70% | +13.45%+13.10% | n/a+13.57% | n/a+13.99% |
| Max drawdown | FENI HEFA | -3.54%-3.79% | -10.62%-9.45% | n/a-14.34% | n/a-14.65% |
| Max drawdown duration | FENI HEFA | 31d34d | 103d84d | n/a65d | n/a381d |
Trading data
FENI | HEFA | |
Last sale 9/17/2026 at 5:01 PM | $40.85 | $46.82 |
| Previous close 09/16/2026 | $40.40 | $46.39 |
| Consolidated volume 09/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FENI
is actively managed and doesn’t replicate an indexFENI | HEFA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/17/2026 at 5:01 PM
Live
Closed
FENI | HEFA | |
|---|---|---|
| Last price | $40.85 | $46.82 |
| 1D performance | +1.10% | +0.93% |
| AuM | $11.35 B | $7.44 B |
| E/R | 0.28% | 0.7% |
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Exposure
Countries
FENI
Japan
21.81%
United Kingdom
14.1%
Switzerland
9.7%
France
8.87%
Germany
8.69%
Other
36.84%
HEFA
Japan
23.1%
United Kingdom
14.14%
Switzerland
10.17%
France
8.97%
Germany
8.89%
Other
34.72%
Sectors
FENI
Finance
28.71%
Industrials
18.26%
Technology
12.81%
Healthcare
9.29%
Consumer Non-Cycl.
8.11%
Other
22.82%
HEFA
Finance
28.32%
Industrials
16.12%
Technology
12.15%
Healthcare
10.1%
Consumer Non-Cycl.
8.4%
Other
24.91%
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Diversification
FENI
Total weight of top 15 holdings out of 15
21.4%
HEFA
Total weight of top 15 holdings out of 15
18.52%
Top 15 holdings
Data as of July 31, 2026
FENI
ASML Holding NV
3.37%
Nestlé SA
1.77%
Roche Holding AG
1.76%
Siemens AG
1.48%
Mitsubishi UFJ Financial Group, Inc.
1.45%
UBS Group AG
1.30%
Banco Bilbao Vizcaya Argentaria SA
1.28%
Novartis AG
1.23%
Rolls-Royce Holdings Plc
1.21%
HSBC Holdings Plc
1.19%
Iberdrola SA
1.16%
Banco Santander SA
1.08%
Deutsche Telekom AG
1.08%
BNP Paribas SA
1.02%
Siemens Energy AG
1.02%
HEFA
ASML Holding NV
2.95%
HSBC Holdings Plc
1.68%
Roche Holding AG
1.41%
Novartis AG
1.32%
Nestlé SA
1.21%
AstraZeneca PLC
1.18%
Shell Plc
1.15%
Siemens AG
1.10%
Mitsubishi UFJ Financial Group, Inc.
1.08%
BHP Group Ltd.
0.97%
Commonwealth Bank of Australia
0.96%
Banco Santander SA
0.93%
Allianz SE
0.87%
SAP SE
0.86%
Toyota Motor Corp.
0.85%
Frequently asked questions about FENI and HEFA
How have the FENI and HEFA ETFs performed in 2026?
As of September 16, 2026, FENI is up 12.14% year-to-date (YTD), while HEFA has returned 13.83%. That puts HEFA better performer ahead so far this year.
Which ETF is attracting more investor money: FENI or HEFA?
Year-to-date, the FENI ETF saw +$4.67B in flows, compared to -$48M for HEFA.
Which ETF is more volatile: FENI or HEFA?
Over the past year, FENI had a volatility of 13.45%, while HEFA experienced 13.1%.
Which ETF is bigger: FENI or HEFA?
As of September 16, 2026, FENI holds $11.35 B in assets under management (AUM), while HEFA manages $7.44 B.
What sectors do the FENI and HEFA ETFs invest in?
FENI leans toward sectors like Finance, Industrials and Technology. Meanwhile, HEFA focuses on Finance, Industrials and Technology.
What are the top holdings of the FENI ETF and HEFA ETF?
FENI top holdings include ASML Holding NV, Nestlé SA and Roche Holding AG. HEFA holds in its top three: ASML Holding NV, HSBC Holdings Plc and Roche Holding AG.
Which ETF is more diversified: FENI or HEFA?
FENI holds 368 securities with 21.4% of its assets in the top 15. HEFA has 674 securities and a top 15 weight of 18.52%.
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Latest news about FENI & HEFA
Key Takeaways from the 2024 Trackinsight Global ETF Survey: Active ETFs
February 16, 2024
FENI
Fidelity Continues Trend of Mutual Fund Conversions to ETFs
November 27, 2023
FENI
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