Overview
Developed international stocks with the currency risk hedged to dollars — around 719 EAFE names, euro, yen and pound exposure removed.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| ASML | ASML Holding | 1.7% |
| NESN | Nestlé SA | 1.4% |
| SAP | SAP SE | 1.4% |
| NOVN | Novartis AG | 1.2% |
| ROG | Roche Holding | 1.1% |
| HSBA | HSBC Holdings | 1.1% |
| 7203 | Toyota Motor | 1.0% |
| AZN | AstraZeneca | 1.0% |
| SHEL | Shell plc | 0.9% |
| MC | LVMH | 0.9% |
Fund Details
Investment Thesis
DBEF was the original currency-hedged EAFE fund and remains HEFA's chief rival: same idea — own European and Japanese stocks, cancel the FX bet — with a longer track record and broader basket. When the dollar strengthens, hedged funds like this beat their unhedged twins by the full currency move; the +23% year shows the stock returns alone were worth owning either way.
Who It's For
International investors who want equity exposure without a side-bet against the dollar, and tactical allocators pairing hedged and unhedged sleeves. Compare with HEFA on fee and tracking.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $21.02 | -- |
| 2017 | $24.38 | +16.0% |
| 2018 | $21.94 | -10.0% |
| 2019 | $27.43 | +25.0% |
| 2020 | $27.97 | +2.0% |
| 2021 | $33.57 | +20.0% |
| 2022 | $30.55 | -9.0% |
| 2023 | $36.35 | +19.0% |
| 2024 | $40.35 | +11.0% |
| 2025 | $46.00 | +14.0% |
| Year | Yield |
|---|---|
| 2016 | 2.60% |
| 2017 | 2.40% |
| 2018 | 2.90% |
| 2019 | 2.80% |
| 2020 | 2.10% |
| 2021 | 2.40% |
| 2022 | 3.10% |
| 2023 | 2.90% |
| 2024 | 2.80% |
| 2025 | 2.70% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $3B | -- |
| 2017 | $6B | +100.0% |
| 2018 | $5B | -16.7% |
| 2019 | $4B | -20.0% |
| 2020 | $2.5B | -37.5% |
| 2021 | $3.5B | +40.0% |
| 2022 | $4B | +14.3% |
| 2023 | $5B | +25.0% |
| 2024 | $7B | +40.0% |
| 2025 | $8.5B | +21.4% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
Related Intl & Global ETFs
Markets. Intelligence. Daily.
Full briefs on 400+ ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →