HEZU holdings and overlap
iShares Currency Hedged MSCI Eurozone ETF (HEZU) holds 215 positions in its iShares file of 2026-10-27. Its three largest are ASML Holding (ASML.NL) at 8.55%, SAP (SAP.DE) at 3.24% and Siemens N AG (SIE.DE) at 2.89%, and its ten largest make up 29.6% of the fund.
In its iShares file of 2026-10-27, HEZU is 25.4% financials, 17.7% industrials and 15.1% technology by sector (no sector found for 2.4%), with none of it in mega-cap tech or in the ten largest US companies by market value. By country, 26.1% of HEZU is in France, 25.0% in Germany, 16.5% in the Netherlands and 11.2% in Spain.
What does HEZU hold, as of its issuer file of 2026-10-27?
HEZU keeps 29.6% of its weight in its ten largest positions, against a median of 58.3% across the 25 Europe funds with a page here. The position HEZU carries furthest above that group is SAP at 3.24% of the fund, a company the median fund in that group does not hold at all.
| Rank | Company | Weight | Weight bar |
|---|---|---|---|
| 1 | ASML.NL ASML Holding | 8.55% | |
| 2 | SAP.DE SAP | 3.24% | |
| 3 | SIE.DE Siemens N AG | 2.89% | |
| 4 | ALV.DE Allianz | 2.48% | |
| 5 | TTE.FR Totalenergies | 2.41% | |
| 6 | SAN.ES Banco Santander | 2.41% | |
| 7 | IBE.ES Iberdrola | 2.04% | |
| 8 | SU.FR Schneider Electric | 2.0% | |
| 9 | BBVA.ES Banco Bilbao Vizcaya Argentaria | 1.9% | |
| 10 | AIR.FR Airbus Group | 1.72% | |
| 11 | AI.FR Lair Liquide Societe Anonyme Pour | 1.63% | |
| 12 | OR.FR Loreal SA | 1.54% | |
| 13 | UCG.IT Unicredit | 1.51% | |
| 14 | ENR.DE Siemens Energy N AG | 1.49% | |
| 15 | MC.FR LVMH | 1.44% | |
| 16 | SAF.FR Safran SA | 1.42% | |
| 17 | BNP.FR BNP Paribas SA | 1.29% | |
| 18 | DTE.DE Deutsche Telekom N AG | 1.28% | |
| 19 | ISP.IT Intesa Sanpaolo | 1.28% | |
| 20 | INGA.NL ING Groep | 1.26% | |
| 21 | SAN.FR Sanofi SA | 1.23% | |
| 22 | ENEL.IT Enel | 1.06% | |
| 23 | MUV2.DE Muenchener Rueckversicherungs-Gese | 1.05% | |
| 24 | IFX.DE Infineon Technologies AG | 1.03% | |
| 25 | CS.FR AXA SA | 1.0% | |
| 26 | ABI.BE Anheuser-Busch Inbev SA | 0.98% | |
| 27 | ITX.ES Industria de Diseno Textil SA | 0.93% | |
| 28 | DB1.DE Deutsche Boerse AG | 0.85% | |
| 29 | DHL.DE DHL AG | 0.81% | |
| 30 | EL.FR Essilorluxottica SA | 0.79% | |
| 31 | DG.FR Vinci SA | 0.76% | |
| 32 | DBK.DE Deutsche Bank AG | 0.74% | |
| 33 | ARGX.BE Argenx | 0.73% | |
| 34 | NDAFI.FI Nordea Bank | 0.72% | |
| 35 | ENI.IT Eni | 0.72% | |
| 36 | RHM.DE Rheinmetall AG | 0.72% | |
| 37 | BAYN.DE Bayer AG | 0.68% | |
| 38 | BAS.DE BASF N | 0.68% | |
| 39 | RMS.FR Hermes International | 0.65% | |
| 40 | RACE.IT Ferrari | 0.63% | |
| 41 | EOAN.DE E.ON N | 0.62% | |
| 42 | ENGI.FR Engie SA | 0.62% | |
| 43 | PRX.NL Prosus NV | 0.62% | |
| 44 | NOKIA.FI Nokia | 0.61% | |
| 45 | CABK.ES Caixabank SA | 0.6% | |
| 46 | GLE.FR Societe Generale SA | 0.58% | |
| 47 | BN.FR Danone SA | 0.58% | |
| 48 | RWE.DE RWE AG | 0.55% | |
| 49 | ASM.NL Asm International NV | 0.52% | |
| 50 | EBS.AT Erste Group Bank AG | 0.49% | |
| 51 | LR.FR Legrand SA | 0.49% | |
| 52 | UCB.BE Ucb SA | 0.49% | |
| 53 | REP.ES Repsol | 0.47% | |
| 54 | G.IT Assicurazioni Generali | 0.47% | |
| 55 | NBIS Nebius NV | 0.46% | |
| 56 | SGO.FR Compagnie de Saint Gobain SA | 0.45% | |
| 57 | PRY.IT Prysmian | 0.44% | |
| 58 | AD.NL Koninklijke Ahold Delhaize | 0.44% | |
| 59 | STMPA.FR Stmicroelectronics | 0.41% | |
| 60 | MBG.DE Mercedes-Benz Group N AG | 0.4% | |
| 61 | KBC.BE KBC Groep | 0.4% | |
| 62 | ORA.FR Orange SA | 0.4% | |
| 63 | ADS.DE Adidas N AG | 0.38% | |
| 64 | ADYEN.NL Adyen | 0.38% | |
| 65 | ABN.NL Abn Amro Bank NV | 0.37% | |
| 66 | AMS.ES Amadeus It Group | 0.36% | |
| 67 | MT.NL Arcelormittal SA | 0.35% | |
| 68 | FER.ES Ferrovial NV | 0.35% | |
| 69 | A5G.IE Aib Group PLC | 0.34% | |
| 70 | PUB.FR Publicis Groupe | 0.34% | |
| 71 | SAMPO.FI Sampo | 0.34% | |
| 72 | CBK.DE Commerzbank AG | 0.33% | |
| 73 | HO.FR Thales SA | 0.32% | |
| 74 | AER AerCap | 0.32% | |
| 75 | BMPS.IT Banca Monte Dei Paschi di Siena SP | 0.31% | |
| 76 | HEIA.NL Heineken NV | 0.31% | |
| 77 | NN.NL NN Group | 0.31% | |
| 78 | AENA.ES Aena Sme SA | 0.3% | |
| 79 | LDO.IT Leonardo Finmeccanica SPA | 0.3% | |
| 80 | CCEP Coca-Cola Europacific Partners | 0.3% | |
| 81 | ML.FR Michelin | 0.3% | |
| 82 | HEI.DE Heidelberg Materials AG | 0.29% | |
| 83 | WKL.NL Wolters Kluwer | 0.29% | |
| 84 | FRE.DE Fresenius N | 0.29% | |
| 85 | VIE.FR Veolia Environ. SA | 0.29% | |
| 86 | CAP.FR Capgemini | 0.28% | |
| 87 | PST.IT Poste Italiane | 0.28% | |
| 88 | PHIA.NL Koninklijke Philips | 0.28% | |
| 89 | MRK.DE Merck | 0.28% | |
| 90 | BPE.IT Bper Banca | 0.28% | |
| 91 | DTG.DE Daimler Truck Holding E AG | 0.28% | |
| 92 | BMW.DE BMW | 0.27% | |
| 93 | DSFIR.NL DSM Firmenich AG | 0.27% | |
| 94 | KNEBV.FI Kone | 0.27% | |
| 95 | MTX.DE Mtu Aero Engines Holding AG | 0.27% | |
| 96 | UMG.NL Universal Music Group | 0.26% | |
| 97 | BIRG.IE Bank of Ireland Group PLC | 0.26% | |
| 98 | HNR1.DE Hannover Rueck | 0.25% | |
| 99 | ACS.ES Acs Actividades de Construccion y | 0.25% | |
| 100 | DSY.FR Dassault Systemes | 0.25% |
The most recent file iShares has published for HEZU is dated 2026-10-27, 1 day before these prices, which is the median for the iShares ETFs covered here. Every one of the 215 positions HEZU holds, with its weight, is in the fund's JSON file. See the other 53 ETFs with a page here that hold ASML.NL, and how their weights compare with the 8.55% HEZU gives it.
Category: Europe, set by TickerInside from the ETF's own latest file. In its file of 2026-10-27, 100% of its stocks with a known country are in Europe. How categories are set.
https://tickerinside.com/api/v1/fund/hezu.jsonhttps://tickerinside.com/api/v1/fund/hezu.csv=IMPORTDATA("https://tickerinside.com/api/v1/fund/hezu.csv")If your sheet uses a decimal comma: =IMPORTDATA("https://tickerinside.com/api/v1/fund/hezu.csv"; ","; "en_US")curl -s https://tickerinside.com/api/v1/fund/hezu.jsonHow is HEZU split by sector and country?
| Sector | Weight | Weight bar |
|---|---|---|
| Financials | 25.4% | |
| Industrials | 17.7% | |
| Technology | 15.1% | |
| Consumer discretionary | 7.3% | |
| Utilities | 6.5% | |
| Health care | 5.7% | |
| Consumer staples | 5.5% | |
| Energy | 4.2% | |
| Materials | 3.9% | |
| Communication services | 2.9% | |
| Real estate | 0.5% | |
| No sector found | 2.4% |
| Country | Weight | Weight bar |
|---|---|---|
| France | 26.1% | |
| Germany | 25.0% | |
| Netherlands | 16.5% | |
| Spain | 11.2% | |
| Italy | 8.9% | |
| Belgium | 3.3% | |
| Finland | 3.2% | |
| Ireland | 1.2% | |
| Austria | 1.0% | |
| Portugal | 0.6% |
From its iShares file of 2026-10-27. How these are measured.
What did HEZU hold in its SEC reports since 2019?
HEZU's largest position in its SEC filings has been EZU since 2019-11-30: 98.84% then and 101.96% in its report for 2025-08-31, across 24 quarterly reports.
| Report | Positions | Largest | Top 10 |
|---|---|---|---|
| 2019-11-30 | 1 | EZU 98.84% | 98.8% |
| 2020-11-30 | 1 | EZU 101.95% | 102.0% |
| 2021-11-30 | 1 | EZU 97.84% | 97.8% |
| 2022-11-30 | 1 | EZU 104.62% | 104.6% |
| 2023-11-30 | 1 | EZU 102.68% | 102.7% |
| 2024-11-30 | 1 | EZU 97.13% | 97.1% |
| 2025-08-31 | 1 | EZU 101.96% | 102.0% |
The first report, then the last of each year, of the 24 reports HEZU filed on SEC Form N-PORT from 2019-11-30 to 2025-08-31, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/hezu/{date}.json. How these are read.
What does HEZU duplicate?
The ETF nearest to HEZU is EZU: the two hold 97.1% of their weight in common, in the 215 companies both own, and 100.0% of HEZU itself is also held there. Owning HEZU alongside the ETFs at the top of this table means holding mostly the same companies twice. HEZU is close to contained in EZU.
| ETF | Overlap by weight | Of HEZU held there | Of that ETF in HEZU | Companies in both | Overlap bar |
|---|---|---|---|---|---|
| EZU | 97.1% | 100.0% | 100.0% | 215 | |
| FEZ | 65.3% | 67.3% | 100.0% | 50 | |
| IEV | 51.2% | 94.6% | 51.5% | 172 | |
| IEUR | 47.5% | 100.0% | 47.6% | 215 | |
| VGK | 46.9% | 98.3% | 47.3% | 207 | |
| SPEU | 45.5% | 98.2% | 45.8% | 207 | |
| EFAX | 34.6% | 94.6% | 34.8% | 206 | |
| EFV | 34.3% | 58.9% | 34.5% | 140 | |
| DMXF | 34.1% | 50.3% | 34.3% | 124 | |
| EFA | 33.8% | 100.0% | 34.0% | 215 | |
| HEFA | 33.5% | 100.0% | 34.0% | 215 | |
| EFG | 33.2% | 56.7% | 33.4% | 103 |
VGK's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. The other ETFs' holdings are from their issuers' latest files. Check HEZU against any ETF in the ETF overlap calculator · how overlap is measured.
What adds something different to HEZU?
IYR shares 0% of weight with HEZU and its weekly returns correlate with it at 0.38 over three years. The table lists the covered ETFs with the least in common with HEZU, least shared weight first and, among equals, lowest correlation.
| ETF | Name | Overlap by weight | Correlation, 3y | Companies in both |
|---|---|---|---|---|
| IYR | iShares U.S. Real Estate ETF | 0.0% | 0.38 | 0 |
| USRT | iShares Core U.S. REIT ETF | 0.0% | 0.40 | 0 |
| USMV | iShares MSCI USA Min Vol Factor ETF | 0.0% | 0.53 | 0 |
| IJR | iShares Core S&P Small-Cap ETF | 0.0% | 0.60 | 0 |
| SOXX | iShares Semiconductor ETF | 0.0% | 0.61 | 0 |
| THRO | iShares U.S. Thematic Rotation Active ETF | 0.0% | 0.64 | 0 |
| VLUE | iShares MSCI USA Value Factor ETF | 0.0% | 0.65 | 0 |
| SMMD | iShares Russell 2500 ETF | 0.0% | 0.65 | 0 |
Cost, returns and risk
| Expense ratio | 0.53% |
|---|---|
| Dividend yield | 2.60% |
| Total return, 1 year | 14.7% |
| Total return, 3 years cumulative | 69.9% |
| Total return, 5 years cumulative | 71.1% |
| Volatility, annualised | 14.0% |
| Worst fall, 3 years | -11.8% |
| Beta against SPY, 3 years of weekly returns | 0.7 |
| Weight in the ten largest positions | 29.6% |
| Largest single position | 8.5% |
| Assets under management | $0.6B |
Expense ratio, yield and assets are reference data (the expense ratio from HEZU's SEC filing of 2025-12-19); the weight in the ten largest positions and the largest single position are from the issuer file of 2026-10-27; every other figure is computed here from weekly closes.
How it moves with the market
| Against | Correlation, 3 years | Covariance, annualised, in percent squared |
|---|---|---|
| SPY | 0.69loosely linked | 134 |
| QQQ | 0.61loosely linked | 166 |
Weekly total returns. What the bands mean · why the covariance is printed.
Year by year
| Year | Total return |
|---|---|
| 2026 | 11.9% |
| 2025 | 25.9% |
| 2024 | 10.6% |
| 2023 | 23.0% |
| 2022 | -9.5% |
One year
Where to go next
- IEUR, iShares Core MSCI Europe ETF
- IEUS, iShares MSCI Europe Small-Cap ETF
- IEV, iShares Europe ETF
- SPEU, State Street SPDR Portfolio Europe ETF
- Run a portfolio x-ray to see what HEZU carries once you look through it
- Compare HEZU against any other ETF in the builder
Holdings from the most recent file iShares has published, dated 2026-10-27. Prices through 2026-10-28. How every figure here is produced. Measurements, not investment advice.
Cite this page
TickerInside, iShares Currency Hedged MSCI Eurozone ETF (HEZU), holdings from the issuer's file of 2026-10-27, https://tickerinside.com/etf/hezu/, CC BY 4.0
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