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% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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