HEEM
iShares Currency Hedged MSCI Emerging Markets ETF
iShares Currency Hedged MSCI Emerging Markets ETF is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of the MSCI Emerging Markets 100% Hedged NETR Index. The ETF holds large and mid-cap emerging market equities while mitigating exposure to fluctuations between the value of the component currencies and the U.S. dollar.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
$ 288.8 M
ASSETS UNDER MGMT
69 bp
EXPENSES
Fund Basics
| Inception date | Sep 23, 2014 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Semi-annual |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | Yes |
Top 10 Holdings
Complete list +
| SBERBANK | 43.5 % |
| TAIWAN SEMICONDUCTOR MANUFAC | 16.2 % |
| SAMSUNG ELECTRONICS CO LTD | 7.2 % |
| ROSNEFT OAO | 5.8 % |
| SK HYNIX INC | 5.5 % |
| POLYUS GOLD OJSC | 5.0 % |
| TCS GROUP HOLDING PLC SPONSORED GDR CLAS | 4.6 % |
| MOSCOW EXCHANGE MICEX-RTS PJSC | 3.1 % |
| TENCENT HOLDINGS LTD | 2.7 % |
| SEVERSTAL | 2.1 % |
Constituent Breakdown
| Number of holdings | 1 |
| Herfindahl-Hirschman Index | 335 |
| Wgt avg mkt cap (mns) | $0 |
| Large cap (>$10bn) | 0.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 2.6% |
| Emerging mkts. | 163.5% |
Sector Breakdown
Country Exposure
 |
RUSSIA | 63.9 % |
 |
TAIWAN | 29.5 % |
 |
SOUTH KOREA | 20.2 % |
 |
CHINA | 15.1 % |
 |
INDIA | 9.4 % |
 |
CYPRUS | 5.4 % |
 |
BRAZIL | 3.9 % |
 |
SAUDI ARABIA | 2.3 % |
 |
SOUTH AFRICA | 2.2 % |
 |
MEXICO | 1.6 % |
Historical Performance
Standardized Performance (as of 09/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 21.5% | 25.5% | 21.9% | 21.3% | 6.7% | 6.7% | -- | 4.7% |
| Dividend Yield | 0.6% | 4.7% | 3.9% | 3.7% | 4.0% | 3.1% | -- | 3.3% |
| Total Returns | 22.2% | 30.3% | 25.8% | 25.0% | 10.7% | 9.8% | -- | 8.0% | Ann. Volatility | 25.8% | 23.4% | 20.0% | 18.2% | 18.1% | 18.5% | -- | 18.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.35 | 55% |
| MSCI EAFE | 1.11 | 56% |
| MSCI Emg Mkts | 0.90 | 95% |
Liquidity Measures
| Avg. volume (000) | 19 |
| ADV traded (mns) | $1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.17% |
Technical Indicators
| 30d moving avg. (EMA) | $41.86 |
| Relative strength (RSI) | 52 |
| MACD/Signal | -0.04/-0.27 |
| Bollinger Bands (Upper/Lower) | $42.99/$39.75 |
| Short interest (% of AUM) | 0.2% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HEEM |
Expenses vs. HEEM |
ALTAR Score™ vs. HEEM |
|---|---|---|---|---|
| EEM | iShares MSCI Emerging Markets ETF | 94.7% | 0 bp | -0.3% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF | 89.2% | -39 bp | +0.1% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 86.3% | -3 bp | -0.2% |
| BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 83.7% | -54 bp | +0.4% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 83.6% | -58 bp | +0.4% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 83.0% | -60 bp | +0.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 81.3% | -33 bp | +0.2% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 77.9% | +1 bp | -0.8% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 77.6% | -44 bp | -2.0% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 74.9% | -50 bp | -0.2% |
Risk and Returns: HEEM vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/16/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
9.0%
ALTAR SCORE™
69th
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 215 funds in the Emerging Equity category with an average
ALTAR Score™ of 7.9% and a standard deviation
of 2.2%. HEEM's ALTAR Score™ is approximately 0.5 standard
deviations above the category average. This places HEEM in the 69th percentile
among funds in the category.
Sell-Side Consensus
$54.56
PRICE TARGET
+35.3%
UPSIDE