HEDJ vs SPEU: Grades, Fees and Holdings Compared

WisdomTree Europe Hedged Equity Fund

HEDJCNYSE Arca

State Street SPDR Portfolio Europe ETF

SPEUANYSE Arca

Overlap

24.4%by weight

Expense ratio

SPEU −0.51pt a year

HEDJ0.58%SPEU0.07%

Avg volume · 30D

HEDJ 1.8×the volume

HEDJ45.8KSPEU25K

10Y return · a year

HEDJ +0.6pt

HEDJ+10.6%SPEU+10.0%

HEDJ vs SPEU Performance

Nov 9, 2021 – Nov 9, 2026

+62.9%HEDJ+49.4%SPEU

Expense ratio: HEDJ 0.58%; SPEU 0.07%, better
Fund size: HEDJ $1.76B; SPEU $705M
1Y total return: HEDJ +14.2%; SPEU +15.5%, better
Yield (12M): HEDJ 1.78%; SPEU 3.50%, better
Holdings: HEDJ 156; SPEU 1709
Avg volume (30D): HEDJ 45.8K sh, better; SPEU 25K sh
NAV per share: HEDJ $56.82; SPEU $54.23
52W range

ETF.net Grade

Pillar letters and Scores for HEDJ, SPEU, with each pillar’s weight
Pillar	HEDJ	SPEU
Cost30% weight	D30	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	B62	A77Higher
Tradability15% weight	C45	C53Higher
Holdings10% weight	B57	A91Higher
Durability5% weight	C52	C52

Rank among Europe Region funds

How we build Categories ›

Same Category. HEDJ and SPEU are both graded against the same 12 Europe Region funds, so their Grades compare head to head.

Europe Region⁠

Category · 12 funds

See all 12 ›

SPEU ranks 1st and HEDJ 9th of 12 funds in the Europe Region Category.

Rank 1ASPEUState Street SPDR Portfolio Europe ETFScore 85
Rank 2AEZUiShares MSCI Eurozone ETFScore 75
Rank 8BEWDiShares MSCI Sweden ETFScore 59
Rank 9CHEDJWisdomTree Europe Hedged Equity FundScore 44
Rank 10CFGMFirst Trust Germany AlphaDEX FundScore 41

Our read on each fund

ETF.net Research

HEDJCWisdomTree Europe Hedged Equity Fund

SPEUAState Street SPDR Portfolio Europe ETF

In short

HEDJ Less a bet on Europe's economy than on Europe's exporters. HEDJ owns euro-traded dividend payers that earn most of their money elsewhere, then hedges the euro out of the picture, leaving the stocks and not the exchange rate.

SPEU Europe in one line item, priced like a core holding. A 0.07% fee buys the whole STOXX Europe Total Market Index, large caps down to small, in a fund that has been running since 2002.

Stated mandate

HEDJ The fund seeks exposure to European equities while hedging fluctuations between the U.S. dollar and the euro.

SPEU The fund seeks to deliver returns generally corresponding to the total return of the STOXX Europe Total Market Index.

Why people hold it

HEDJ Every holding must draw at least half its revenue from outside Europe, so the basket rides global demand more than the domestic European economy.wisdomtree.com wisdomtree.com 2
Currency forwards neutralize euro-versus-dollar swings, so what shows up in a US account is the stock move, not the FX move.wisdomtree.com
Dividend-weighted rather than cap-weighted: roughly 140 euro-listed payers, each above $1 billion in market value, sized by the dividends they actually pay.wisdomtree.com wisdomtree.com 2
Trading since 2009 and now a multi-billion-dollar fund, it is the long-running standard-bearer for hedged Europe and sits in the upper half of its regional peer group.

SPEU Charges 0.07% a year, versus a 0.28% median for its peer group. That is core-index pricing on a single-region fund.
Total-market index, not a blue-chip list: over a thousand western European stocks spanning large, mid and small caps.
Launched in 2002, so it has run through multiple European market cycles under State Street.
Mandate is plain and literal: match the total return of one published European index, with no sector or country tilts bolted on.

Worth knowing

HEDJ The hedge cuts both ways. Euro strength does not flow through to dollar returns, and the forward contracts carry a cost tied to rate differences between the two currencies.wisdomtree.com
At 0.58%, the fee runs a touch above the peer-group median, and plainer regional options cost less (Global X's DAX charges 0.20%).
Euro-traded names only, so UK and Swiss listings are off the menu, and the exporter screen narrows Europe to about 140 stocks rather than a broad sweep.wisdomtree.com

SPEU Trading is light next to the giant international funds. Limit orders matter more here, and spreads can widen when volume is thin.
Europe only. Broad international peers like VEU and IXUS cover Asia and emerging markets too, at 0.04% and 0.07%.
Holdings trade in euros, pounds and francs, so currency swings against the dollar move your return alongside the stocks.

Full HEDJ profile⁠

Full SPEU profile⁠

HEDJ vs SPEU Holdings

How HEDJ and SPEU differ

Overlap by weight

24.4%

Shared holdings make up 96.7% of HEDJ and 24.5% of SPEU.

Level by level

Holdings146 in both24.4%
Countryby domicile50.1%
Sector11 Sectors77.2%
Asset classStocks100%

Sector

Sector weights in HEDJ and SPEU, widest gap first
Sector	Gap	HEDJ	SPEU
Financials	SPEU +12.4 points	12.2%	24.6%
Consumer Discretionary	HEDJ +5.3 points	12.3%	7.0%
Consumer Staples	HEDJ +4.8 points	13.3%	8.5%
Utilities	SPEU +4.4 points	0.4%	4.8%
Technology	HEDJ +3.7 points	11.5%	7.8%
Communication	HEDJ +3.7 points	6.6%	2.9%
Energy	SPEU +2.9 points	2.7%	5.6%
Materials	HEDJ +2.7 points	8.3%	5.6%
Industrials	HEDJ +2.6 points	21.1%	18.5%
Health Care	SPEU +1.6 points	11.7%	13.3%
Real Estate	SPEU +1.4 points	0.0%	1.4%

Country, concentration and asset class

Country by domicile

Country weights in HEDJ and SPEU, widest gap first
Country	Gap	HEDJ	SPEU
United Kingdom	SPEU +21.5 points	0.1%	21.6%
Switzerland	SPEU +14.1 points	0.9%	15.0%
Germany	HEDJ +12.4 points	25.3%	12.9%
France	HEDJ +11.5 points	24.5%	13.0%
Netherlands	HEDJ +9.9 points	17.7%	7.8%
Spain	HEDJ +7.7 points	13.3%	5.6%
Sweden	SPEU +6.3 points	0.0%	6.3%
Belgium	HEDJ +3.6 points	5.3%	1.7%
Other countries (17)	SPEU +3.3 points	12.9%	16.2%

Outside the US: HEDJ 100% developed, 0% emerging. SPEU 98% developed, 2% emerging.

Concentration

Weight in the 10 largest Holdings

HEDJ40.1%
SPEU18.0%

Securities held

HEDJ153
SPEU1,695

Asset class

HEDJ: Stocks
SPEU: Stocks

Holdings

Only in HEDJ7
In both146
Only in SPEU1,549

Only in HEDJ

7 securities, 2.6% of HEDJ by weight

Ferrovial Se1.13%
Michelin (Cgde)0.82%
Koninklijke Vopak NV0.35%
Cargotec Oyj-B Share0.16%
Csm0.09%
Prosegur Cash Sa0.04%
Plastic Omnium SA<0.01%

Only in SPEU

1,549 securities, 75.3% of SPEU by weight

Roche Holding AG2.07%
Novartis AG Reg1.91%
Hsbc Holdings PLC1.86%
Astrazeneca PLC1.79%
Nestle SA Reg1.67%
Totalenergies SE1.26%
Allianz SE Reg1.19%
Iberdrola SA0.97%
Ubs Group AG Reg0.91%
Shell PLC0.90%
Unilever PLC0.89%
Rolls Royce Holdings PLC0.87%
British American Tobacco PLC0.82%
Shell PLC0.81%
Unicredit Spa0.80%
Novo Nordisk A/S B0.80%
Abb Ltd Reg0.79%
Bp PLC0.77%
Zurich Insurance Group AG0.72%
Cie Financiere Richemo A Reg0.69%
Intesa Sanpaolo0.67%
Bnp Paribas0.66%
Gsk PLC0.63%
Ing Groep NV0.57%
Rio Tinto PLC0.56%
Axa SA0.55%
National Grid PLC0.54%
Enel Spa0.52%
Muenchener Rueckver AG Reg0.50%
Investor Ab B Shs0.49%
Bae Systems PLC0.48%
Barclays PLC0.47%
Lloyds Banking Group PLC0.46%
Relx PLC0.46%
Industria De Diseno Textil0.45%
Vinci SA0.43%
Deutsche Bank AG Registered0.42%
Deutsche Boerse AG0.41%
Natwest Group PLC0.40%
Glencore PLC0.39%
Dhl AG0.38%
London Stock Exchange Group0.37%
Compass Group PLC0.37%
Argenx SE0.35%
Lonza Group AG Reg0.35%
Eni Spa0.35%
Diageo PLC0.35%
Swiss Re AG0.34%
Anglo American PLC0.34%
Societe Generale SA0.33%

Weight gaps

The 100 widest of 146 Holdings in both funds.

Holding weights in HEDJ and SPEU, widest gap first
Holding	Gap	HEDJ	SPEU
LVMH Moet Hennessy Louis Vuitton SE	HEDJ +4.44 points	5.13%	0.69%
Sanofi SA	HEDJ +4.14 points	4.79%	0.65%
Deutsche Telekom AG	HEDJ +3.80 points	4.42%	0.62%
Banco Bilbao Vizcaya Argentaria SA	HEDJ +3.62 points	4.50%	0.88%
Anheuser-Busch InBev NV	HEDJ +2.97 points	3.51%	0.54%
L'Oreal SA	HEDJ +2.93 points	3.67%	0.74%
Banco Santander Sa	HEDJ +2.82 points	3.93%	1.11%
Siemens Ag-Reg	HEDJ +2.29 points	3.63%	1.34%
Schneider Electric SA	HEDJ +1.68 points	2.59%	0.91%
Sap AG	HEDJ +1.66 points	3.13%	1.47%
Basf SE	HEDJ +1.54 points	1.88%	0.34%
Hannover Rueckversicherung AG	HEDJ +1.45 points	1.57%	0.12%
Heineken NV	HEDJ +1.36 points	1.52%	0.16%
Universal Music Group NV	HEDJ +1.26 points	1.39%	0.13%
Tenaris Sa	HEDJ +1.21 points	1.27%	0.06%
Koninklijke Ahold NV	HEDJ +1.19 points	1.40%	0.21%
EssilorLuxottica	HEDJ +1.17 points	1.59%	0.42%
Koninklijke Philips Nv	HEDJ +1.17 points	1.32%	0.15%
Airbus SE	HEDJ +1.13 points	1.93%	0.80%
Daimler Truck Holding Ag	HEDJ +1.13 points	1.27%	0.14%
Siemens Healthineers Ag	HEDJ +1.10 points	1.21%	0.11%
Hermes International	HEDJ +1.03 points	1.36%	0.33%
Kone Oyj	HEDJ +0.95 points	1.11%	0.16%
Wolters Kluwer	HEDJ +0.92 points	1.06%	0.14%
Amadeus IT Group SA	HEDJ +0.83 points	1.01%	0.18%
Talanx AG	HEDJ +0.83 points	0.88%	0.05%
Air Liquide SA	HEDJ +0.82 points	1.65%	0.83%
DSM-Firmenich AG	HEDJ +0.80 points	0.94%	0.14%
Heineken Holding NV	HEDJ +0.80 points	0.86%	0.06%
Mapfre SA	HEDJ +0.72 points	0.75%	0.03%
Ferrari NV	HEDJ +0.68 points	0.99%	0.31%
ACS Actividades de Construccion y Servivios SA	HEDJ +0.65 points	0.77%	0.12%
Aegon Ltd	HEDJ +0.65 points	0.71%	0.06%
Metso Corporation	HEDJ +0.64 points	0.71%	0.07%
Moncler SpA	HEDJ +0.57 points	0.64%	0.07%
Akzo Nobel	HEDJ +0.55 points	0.62%	0.07%
Heidelberg Materials AG	HEDJ +0.50 points	0.65%	0.15%
Ucb SA	HEDJ +0.49 points	0.74%	0.25%
Nokia OYJ	HEDJ +0.48 points	0.74%	0.26%
Saipem Spa	HEDJ +0.47 points	0.51%	0.04%
Henkel AG & Co KGaA	HEDJ +0.46 points	0.51%	0.05%
Andritz AG	HEDJ +0.46 points	0.50%	0.04%
Kerry Group Plc A	HEDJ +0.43 points	0.54%	0.11%
EDP Renovaveis SA	HEDJ +0.43 points	0.46%	0.03%
Pirelli & C SpA	HEDJ +0.42 points	0.44%	0.02%
Continental AG	HEDJ +0.41 points	0.46%	0.05%
Wartsila Oyj	HEDJ +0.38 points	0.47%	0.09%
Davide Campari-Milano NV	HEDJ +0.37 points	0.40%	0.03%
Evonik Industries AG	HEDJ +0.36 points	0.40%	0.04%
Syensqo Sa	HEDJ +0.35 points	0.39%	0.04%
Hochtief AG	HEDJ +0.36 points	0.40%	0.04%
Konecranes Oyj	HEDJ +0.33 points	0.37%	0.04%
IMCD Group NV	HEDJ +0.33 points	0.37%	0.04%
Brunello Cucinelli SpA	HEDJ +0.33 points	0.35%	0.02%
SBM Offshore NV	HEDJ +0.32 points	0.35%	0.03%
Valmet Corp	HEDJ +0.30 points	0.33%	0.03%
Adidas AG	HEDJ +0.30 points	0.52%	0.22%
Fresenius Medical Care AG & Co	HEDJ +0.29 points	0.35%	0.06%
DiaSorin SpA	HEDJ +0.27 points	0.28%	0.01%
Publicis Groupe	HEDJ +0.26 points	0.43%	0.17%
Reply SpA	HEDJ +0.26 points	0.28%	0.02%
Glanbia Plc	HEDJ +0.26 points	0.29%	0.03%
Maire Tecnimont Spa	HEDJ +0.26 points	0.27%	0.01%
Grifols SA	HEDJ +0.24 points	0.28%	0.04%
Arcadis NV	HEDJ +0.24 points	0.26%	0.02%
STMicroelectronics NV	HEDJ +0.23 points	0.40%	0.17%
Knorr-Bremse AG	HEDJ +0.23 points	0.27%	0.04%
Fluidra SA	HEDJ +0.22 points	0.23%	0.01%
Acerinox SA	HEDJ +0.21 points	0.23%	0.02%
BE Semiconductor Industries	HEDJ +0.21 points	0.28%	0.07%
Schaeffler Ag	HEDJ +0.19 points	0.20%	<0.01%
Puig Brands Sa-B	HEDJ +0.18 points	0.20%	0.02%
Brembo N.V.	HEDJ +0.18 points	0.19%	0.01%
Brenntag AG	HEDJ +0.18 points	0.23%	0.05%
CIE Automotive SA	HEDJ +0.17 points	0.18%	<0.01%
Ebro Foods SA	HEDJ +0.17 points	0.18%	<0.01%
Huhtamaki Oyj	HEDJ +0.17 points	0.19%	0.02%
Prysmian SpA	HEDJ +0.17 points	0.38%	0.21%
Carel Industries Spa	HEDJ +0.16 points	0.17%	<0.01%
Azelis Group Nv	HEDJ +0.16 points	0.18%	0.02%
Beiersdorf AG	HEDJ +0.16 points	0.21%	0.05%
Elecnor SA	HEDJ +0.14 points	0.15%	<0.01%
Symrise AG	HEDJ +0.14 points	0.23%	0.09%
Solvay SA	HEDJ +0.14 points	0.15%	0.01%
Melexis NV	HEDJ +0.14 points	0.15%	<0.01%
Kemira Oyj	HEDJ +0.14 points	0.15%	0.01%
Viscofan SA	HEDJ +0.14 points	0.15%	0.01%
Hbx Group International Plc	HEDJ +0.12 points	0.12%	<0.01%
Sartorius Stedim Biotech	HEDJ +0.11 points	0.15%	0.04%
Kalmar Oyj-B Share	HEDJ +0.11 points	0.12%	0.01%
Bekaert SA	HEDJ +0.11 points	0.12%	<0.01%
Merck KGaA	HEDJ +0.11 points	0.24%	0.13%
Havas Nv	HEDJ +0.11 points	0.11%	<0.01%
Safran SA	HEDJ +0.10 points	0.86%	0.76%
ASM International NV	HEDJ +0.10 points	0.32%	0.22%
Prosegur Cia de Seguridad SA	HEDJ +0.10 points	0.10%	<0.01%
Dassault Systemes SE	HEDJ +0.10 points	0.23%	0.13%
GEA Group AG	HEDJ +0.10 points	0.17%	0.07%
Fagron	HEDJ +0.10 points	0.11%	0.01%
Gestamp Automocion Sa	HEDJ +0.10 points	0.10%	<0.01%

All 135 HEDJ holdings⁠All 1,699 SPEU holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HEDJ vs SPEU Cost

Overpaying HEDJ vs SPEU

$9,973

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

HEDJ 0.58%
$11,453
SPEU 0.07%
$1,480

Amount$10,000

Years30 years

Cost over time

HEDJ 0.58%
SPEU 0.07%
Overpaying

Year by year

Year	HEDJ	SPEU	Overpaying
10	$1,041	$128	$913
20	$3,986	$503	$3,483
30	$11,453	$1,480	$9,973

Expense ratio

0.58%HEDJ
0.07%SPEU, cheaper

SPEU0.07%HEDJ0.58%

0.07%0.80%

Middle half of Europe Region funds
Median 0.51%

SPEU cheapest of 12 funds

HEDJ 9th cheapest of 12 funds

HEDJ vs SPEU Dividends

Last 12 months to Nov 9, 2026

Yield (12M): HEDJ 1.78%; SPEU 3.50%, better
Payout (12M): HEDJ $1.03; SPEU $1.94
Last payment: HEDJ $0.05; SPEU $0.23
Ex-dividend: HEDJ Sep 25, 2026; SPEU Sep 21, 2026
Paid on: HEDJ Sep 29, 2026; SPEU Sep 23, 2026
Frequency: HEDJ Twice a year; SPEU Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

HEDJTwice a year · 31 paymentsAll HEDJ payments⁠

SPEUQuarterly · 39 paymentsAll SPEU payments⁠

HEDJ vs SPEU Risk

Fall from peak · 5 years

HEDJ
SPEU

Risk facts

VolatilityStd dev, 3 years: HEDJ 11.4%, betterSPEU 12.9%
Return per unit of riskSharpe ratio, 3 years: HEDJ 0.96SPEU 1.10, better
Worst fallMax drawdown, 5 years: HEDJ −22.2%, betterSPEU −32.7%
Market sensitivityBeta, 5 years: HEDJ 0.75SPEU 0.95; Market = 1

HEDJ and SPEU in the news

All news⁠

Income Watch
A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%
Sep 20, 2026SPEU

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HEDJ vs SPEU

In short

Stated mandate

Why people hold it

Worth knowing

How HEDJ and SPEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HEDJ

Only in SPEU

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

A 25.22% distribution rate met a -0.32% SEC yield as the 10-year paid 5.01%

How HEDJ and SPEU differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HEDJ

Only in SPEU

Weight gaps