HEFAvsFENIETF Comparison
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iShares Currency Hedged MSCI EAFE ETF (HEFA) and Fidelity Enhanced International ETF (FENI) belong to the same industry segment: DM Large & Mid Cap. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. HEFA is more expensive with a Total Expense Ratio (TER) of 0.7%, versus 0.28% for FENI. HEFA is up 14.27% year-to-date (YTD) with -$48M in YTD flows. FENI performs worse with 13.36% YTD performance, and +$4.63B in YTD flows. Run a side-by-side ETF comparison of HEFA and FENI 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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HEFA vs FENI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HEFA FENI | -2.19%-1.80% | +2.96%+4.40% | +14.27%+13.36% | +22.06%+19.90% | +67.66%n/a | +85.98%n/a |
| Flows | HEFA FENI | -$115M+$346M | +$188M+$1.35B | -$48M+$4.63B | -$290M+$6.22B | +$1.41B- | +$2.42B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HEFA FENI | +10.72%+11.44% | +13.13%+13.43% | +13.58%n/a | +13.99%n/a |
| Max drawdown | HEFA FENI | -3.79%-2.65% | -9.45%-10.62% | -14.34%n/a | -14.65%n/a |
| Max drawdown duration | HEFA FENI | 29d26d | 84d103d | 65dn/a | 381dn/a |
Trading data
HEFA | FENI | |
Last sale 9/11/2026 at 1:30 PM | $46.55 | $40.96 |
| Previous close 09/10/2026 | $46.13 | $40.57 |
| Consolidated volume 09/10/2026 | ||
| 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 indexHEFA | FENI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
HEFA | FENI | |
|---|---|---|
| Last price | $46.55 | $40.96 |
| 1D performance | +0.91% | +0.96% |
| AuM | $7.47 B | $11.44 B |
| E/R | 0.7% | 0.28% |
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Exposure
Countries
HEFA
Japan
23.1%
United Kingdom
14.14%
Switzerland
10.17%
France
8.97%
Germany
8.89%
Other
34.72%
FENI
Japan
21.81%
United Kingdom
14.1%
Switzerland
9.7%
France
8.87%
Germany
8.69%
Other
36.84%
Sectors
HEFA
Finance
28.32%
Industrials
16.12%
Technology
12.15%
Healthcare
10.1%
Consumer Non-Cycl.
8.4%
Other
24.91%
FENI
Finance
28.71%
Industrials
18.26%
Technology
12.81%
Healthcare
9.29%
Consumer Non-Cycl.
8.11%
Other
22.82%
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Diversification
HEFA
Total weight of top 15 holdings out of 15
18.52%
FENI
Total weight of top 15 holdings out of 15
21.4%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about HEFA and FENI
How have the HEFA and FENI ETFs performed in 2026?
As of September 11, 2026, HEFA is up 14.27% year-to-date (YTD), while FENI has returned 13.36%. That puts HEFA better performer ahead so far this year.
Which ETF is attracting more investor money: HEFA or FENI?
Year-to-date, the HEFA ETF saw -$48M in flows, compared to +$4.63B for FENI.
Which ETF is more volatile: HEFA or FENI?
Over the past year, HEFA had a volatility of 13.13%, while FENI experienced 13.43%.
Which ETF is bigger: HEFA or FENI?
As of September 11, 2026, HEFA holds $7.47 B in assets under management (AUM), while FENI manages $11.44 B.
What sectors do the HEFA and FENI ETFs invest in?
HEFA leans toward sectors like Finance, Industrials and Technology. Meanwhile, FENI focuses on Finance, Industrials and Technology.
What are the top holdings of the HEFA ETF and FENI ETF?
HEFA top holdings include ASML Holding NV, HSBC Holdings Plc and Roche Holding AG. FENI holds in its top three: ASML Holding NV, Nestlé SA and Roche Holding AG.
Which ETF is more diversified: HEFA or FENI?
HEFA holds 674 securities with 18.52% of its assets in the top 15. FENI has 368 securities and a top 15 weight of 21.4%.
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Latest news about HEFA & FENI
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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