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HEEM

GradeDChicago Board Options Exchange

iShares Currency Hedged MSCI Emerging Markets ETF

Major Indexes · IShares · Inception 2014-09-22 · SEC filings

$42.73−0.68 (−1.57%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 33 prints from 43.41 to 42.73. Range 42.70 to 43.13. Use the arrow keys to read each point.$42.80$42.90$43.00$43.1010 AM12 PM2 PM4 PM
Expense ratio
1.51%
Fund size
$305M
1Y return
+34.5%
Yield · Last 12 months
3.06%
Volume · 30D
0.1M sh
NAV per share
$43.39
52W range
low $32.77high $46.49

The ETF.net HEEM Grade

D

35/ 100

Rank 5 of 5 in MSCI Emerging Markets Core⁠

Confidence Medium

Six-pillar profile for HEEM. Scores out of 100: Cost 11, Risk 53, Mission not scored, Tradability 51, Holdings 56, Durability 49. Strongest: Holdings (56). Weakest: Cost (11). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 35 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 11
    Category rank5/5 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 53
    Category rank2/5 · top 40%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 51
    Category rank3/5 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 56
    Category rank2/5 · top 40%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 49
    Category rank3/5 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on HEEM

ETF.net Research

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

  1. 01One job, done explicitly: track emerging-market equities while damping the effect of currency moves, via an index hedged 100% to the dollar.ishares.com
  2. 02A 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.
  3. 03Listed 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

  1. 01Cost 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%.
  2. 02The hedge cuts both ways. When emerging-market currencies gain on the dollar, that tailwind is hedged out along with the headwind.
  3. 03Moderately traded rather than a top-of-book EM name, so limit orders and spread checks matter more here than with the giants.

HEEM Holdings

As of Sep 22, 2026, 3:54 AM
Asset class
Stocks
Holdings
—
Top-10 weight
38%
Largest holding
2330.TW15.3%

Sectors

  • Technology41.9%
  • Financials19.3%
  • Consumer Discr.8.2%
  • Materials6.3%
  • Industrials6.3%
  • Communication6.2%
  • Energy3.5%
  • Health Care2.9%
  • Cons. Staples2.6%
  • Utilities1.8%
  • Real Estate1.0%

Geography

  • Taiwan (Province of China)27.75%
  • Korea (the Republic of)20.87%
  • China17.95%
  • India10.98%
  • Brazil4.06%
  • South Africa2.67%
  • Saudi Arabia2.39%
  • Mexico1.64%
  • Other countries (26)11.71%

Developed 2% · Emerging 98% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 81.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0012330.TWTAIWAN SEMICONDUCTOR MANUFACTURING15.33%591,183$46M175
002005930.KSSAMSUNG ELECTRONICS LTD7.09%112,161$21M176
003000660.KSSK HYNIX5.96%13,248$18M184
0040700.HKTENCENT HOLDINGS2.63%147,253$8M153
0059988.HKALIBABA GROUP HOLDING1.88%402,528$6M128
0062454.TWMEDIATEK1.72%34,619$5M162
007005935.KSSAMSUNG ELECTRONICS NON VOTING PRE0.92%19,277$3M85
0082308.TWDELTA ELECTRONICS0.85%46,762$3M154
0090939.HKCHINA CONSTRUCTION BANK CORP H0.83%2,022,755$2M106
0102317.TWHON HAI PRECISION INDUSTRY0.78%293,636$2M114
011HDFCBANK.BOHDFC BANK0.70%273,538$2M71
012RELIANCE.BORELIANCE INDUSTRIES LTD0.59%138,383$2M71
013ICICIBANK.BOICICI BANK0.59%125,277$2M68
014402340.KSSK SQUARE0.58%2,217$2M111
0153711.TWASE TECHNOLOGY HOLDING0.54%80,157$2M115

Showing 1–15 of 1203 holdings

HEEM Performance

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

HEEM$13,453
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. HEEM $13,453. SPY $11,723. Use the arrow keys to read each point.$9,151$11,907$14,662Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+25.5%
1 month+2.7%
3 months−5.8%
1 year+34.5%
3 years+25.7%per year
5 years+11.1%per year
10 years+9.9%per year

As of the close, 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+25.5%
2025+34.0%
2024+12.6%
2023+10.2%
2022−16.9%
2021−1.8%
2020+17.9%

HEEM in the news

ETF.net Research hasn’t filed on HEEM yet — coverage lands here as it’s written.

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 Sep 22, 2026.
3.06%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, 2025Data unavailable$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

HEEM Risk

How much the fund’s monthly returns vary, scaled to a year.
13.8%
Annualised · 36 months to Aug 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.
1.32
vs 3-month T-bills · to Aug 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.
−27.5%
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.

HEEM Cost

Expense ratio1.51%
  • The middle half of MSCI Emerging Markets Core funds
  • Median 0.66%

Every other MSCI Emerging Markets Core fund charges less.

HEEM costs $151.00 a year on $10,000. The median MSCI Emerging Markets Core fund costs $66.00.