Skip to content
etf.net

Launched · SEC filings

iShares Currency Hedged MSCI Emerging Markets ETF

HEEMCboeiSharesD

$38.81+0.17 (+0.43%)

As of Nov 2, 2026, 3:59 PM ET

D36/ 100

Rank 5 of 5 in MSCI Emerging Markets Core

D36/100Rank 5 of 5inMSCI Emerging Markets Core
Intraday session: up, 79 prints from 38.64 to 38.81. Range 38.61 to 39.52. Use the arrow keys to read each point.39.0039.2039.4010 AM12 PM2 PM4 PM
Expense ratio
1.51%
Fund size
$273M
1Y total return
+14.6%
Yield · Last 12 months
3.44%
Holdings
1201
Avg volume · 30D
118K sh
52W range
low $33.59high $46.49
Launched
Filings
SEC EDGAR

The ETF.net HEEM Grade

Based on 5 of 6 pillars

D

Score 36 out of 100

Category
MSCI Emerging Markets Core⁠
Rank
5 of 5
Six-pillar profile for HEEM. Scores out of 100: Cost 11, Risk 56, Mission not scored, Tradability 51, Holdings 53, Durability 49. Strongest: Risk (56). Weakest: Cost (11). Based on 5 of 6 pillars.

Score 36 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F11 out of 100
    Rank 5 of 5

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B56 out of 100
    Rank 1 of 5

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C51 out of 100
    Rank 4 of 5

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C53 out of 100
    Rank 3 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C49 out of 100
    Rank 3 of 5

Our read on HEEM

ETF.net Research

In short

DMost emerging-market funds hand you two bets at once: the stocks and the currencies. HEEM, running since 2014, tracks an MSCI EM index hedged 100% back to the US dollar, so the equity story is the whole story.

Stated mandate

The fund seeks to track an index of emerging-market equities while reducing the effect of currency movements.

Why people hold it

  • One job, done explicitly: track emerging-market equities while damping the effect of currency moves, via an index hedged 100% to the dollar.ishares.com
  • A thin shelf to shop from. Currency-hedged EM equity is a niche corner; within this MSCI EM peer group the main alternative is Xtrackers' DBEM.
  • Listed by iShares in 2014, it has carried a mid-sized asset base through more than a decade of dollar cycles and pays distributions quarterly.

Worth knowing

  • Cost is the trade-off: a 1.51% expense ratio against a 0.66% median in its peer group, while unhedged core exposure like IEMG lists at 0.09%.
  • The hedge cuts both ways. When emerging-market currencies gain on the dollar, that tailwind is hedged out along with the headwind.
  • Moderately traded rather than a top-of-book EM name, so limit orders and spread checks matter more here than with the giants.

HEEM Holdings

Holdings pillarC53 out of 100Rank 3 of 5 in MSCI Emerging Markets Core
Asset class
Stocks
Holdings
1,201
Top-10 weight
38%
Largest holding
2330.TW15.8%

Sectors

  • Technology42.9%
  • Financials19.9%
  • Consumer Discretionary7.6%
  • Industrials6.0%
  • Communication5.9%
  • Materials5.8%
  • Energy3.6%
  • Health Care2.7%
  • Consumer Staples2.7%
  • Utilities1.9%
  • Real Estate1.0%

Geography

  • Taiwan31.27%
  • South Korea21.47%
  • China20.86%
  • India12.01%
  • Brazil4.16%
  • South Africa3.25%
  • Saudi Arabia2.50%
  • Mexico1.84%
  • Other countries (2)2.65%

Developed 0% · Emerging 100% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 81.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
12330.TWTaiwan Semiconductor Manufacturing15.80%598,497$44.4M176
2005930.KSSamsung Electronics Ltd7.03%113,632$19.7M182
3000660.KSSk Hynix5.46%13,420$15.3M186
40700.HKTencent Holdings2.55%149,046$7.17M152
59988.HKAlibaba Group Holding1.78%407,480$4.99M124
62454.TWMediatek1.55%35,073$4.35M169
7005935.KSSamsung Electronics Non Voting Pre0.96%19,498$2.68M85
80939.HKChina Construction Bank Corp H0.94%2,046,656$2.64M113
92317.TWHon Hai Precision Industry0.81%297,995$2.27M122
102308.TWDelta Electronics0.77%47,322$2.15M156
11HDFCBANK.NSHdfc Bank0.71%277,020$1.99M51
12ICICIBANK.NSIcici Bank0.67%128,677$1.87M48
13RELIANCE.NSReliance Industries Ltd0.61%139,688$1.71M58
143711.TWAse Technology Holding0.61%81,233$1.7M116
15402340.KSSk Square0.57%2,244$1.6M111

Showing 1–15 of 1201 holdings

HEEM Performance

Launched Sep 23, 2014

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

HEEM$11,462
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HEEM $11,462. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HEEM. Periods over one year show the average yearly return.
PeriodHEEM
Year to date+11.8%
1 month−8.5%
3 months−5.5%
1 year+14.6%
3 yearsper year+22.6%
5 yearsper year+8.6%
10 yearsper year+8.9%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HEEM
YearReturn barHEEM
2026 YTD+11.8%
2025+34.0%
2024+12.6%
2023+10.2%
2022−16.9%
2021−1.8%
2020+17.9%

HEEM in the news

HEEM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.44%Last 12 months
Payout per share
$1.33Last 12 months
Last payment
$0.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2017–2026

One bar per payment. 22 payments from 2017 to 2026 YTD. Jul 6, 2017 $0.13; Dec 28, 2017 $0.41; Jul 3, 2018 $0.18; Dec 28, 2018 $0.36; Jul 2, 2019 $0.24; Dec 24, 2019 $0.57; Jul 2, 2020 $0.15; Dec 24, 2020 $0.31; Jul 2, 2021 $0.14; Dec 23, 2021 $0.41; Dec 30, 2021 $0.02; Jul 5, 2022 $0.23; Dec 2, 2022 $1.13; Dec 23, 2022 $0.37; Jul 3, 2023 $0.20; Dec 22, 2023 $0.47; Jul 2, 2024 $0.18; Dec 20, 2024 $0.46; Jul 2, 2025 $0.28; Dec 2, 2025 $0.60; Dec 23, 2025 $0.50; Jul 2, 2026 $0.23. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jul 2, 2026Jul 8, 2026$0.23
Dec 23, 2025Dec 29, 2025$0.50
Dec 2, 2025No data$0.60
Jul 2, 2025Jul 8, 2025$0.28
Dec 20, 2024Dec 26, 2024$0.46
Jul 2, 2024Jul 8, 2024$0.18
Dec 22, 2023Dec 29, 2023$0.47
Jul 3, 2023Jul 10, 2023$0.20
Dec 23, 2022Dec 30, 2022$0.37
Dec 2, 2022Dec 8, 2022$1.13
Jul 5, 2022Jul 11, 2022$0.23
Dec 30, 2021Jan 5, 2022$0.02

— Pay date not on file.

See all 28 payments⁠

$10,000 in HEEM 10 years ago paid $3,665 in dividends.⁠

HEEM Risk

Risk pillarB56 out of 100Rank 1 of 5 in MSCI Emerging Markets Core
How much the fund’s monthly returns vary, scaled to a year.
14.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.17
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−26.9%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.82
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HEEM Cost

Compare HEEM and IEMG

Overpaying vs IEMG, cheapest in MSCI Emerging Markets Core

$24,527

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HEEM 1.51%

    $26,425

  • IEMG 0.09% Cheapest

    $1,898

$10,000
30 years

Cost over time

  • HEEM 1.51%
  • IEMG 0.09%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530HEEM $26,425IEMG $1,898

Year by year

YearHEEMIEMGOverpaying
10$2,606$165$2,441
20$9,575$646$8,929
30$26,425$1,898$24,527

Other funds in MSCI Emerging Markets Core

See others