Overview
USD-hedged European dividend-paying exporters. Removes EUR/USD currency risk entirely via monthly forward contracts. Strong 2025 as European equities surged while the EUR weakened — hedge captured both tailwinds simultaneously.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| SAP | SAP SE | 4.8% |
| ASML | ASML Holding | 4.4% |
| SIE | Siemens AG | 4.2% |
| TTE | TotalEnergies | 3.8% |
| AIR | Airbus SE | 3.4% |
| BAS | BASF SE | 3.2% |
| ALV | Allianz SE | 3.0% |
| DTE | Deutsche Telekom | 2.8% |
| MUV2 | Munich Re | 2.6% |
| IBE | Iberdrola SA | 2.4% |
Fund Details
Investment Thesis
HEDJ solves the fundamental problem with European equity investing for USD-based investors: when European stocks rally, a weakening euro often erodes much of the gain. HEDJ's currency hedge eliminates this drag by rolling one-month EUR/USD forward contracts monthly. The index also screens for European dividend payers deriving at least 50% of revenues outside Europe, selecting companies with global revenue diversification. In 2025 when European stocks rallied AND the EUR weakened simultaneously, HEDJ dramatically outperformed unhedged European ETFs like VGK and IEUR.
Who It's For
US-based investors seeking European equity exposure without EUR/USD currency drag, particularly during periods of dollar strength or ECB accommodative policy. HEDJ is most valuable when European stocks and the euro diverge — local equity gains would otherwise be partially offset by currency headwinds. The dividend exporter screen adds a quality dimension favoring globally diversified European multinationals over purely domestic companies.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $58.42 | -- |
| 2017 | $62.82 | +7.5% |
| 2018 | $54.42 | -13.4% |
| 2019 | $64.42 | +18.4% |
| 2020 | $62.18 | -3.5% |
| 2021 | $78.18 | +25.7% |
| 2022 | $60.42 | -22.7% |
| 2023 | $76.42 | +26.5% |
| 2024 | $76.42 | 0.0% |
| 2025 | $103.18 | +35.0% |
| Year | Yield |
|---|---|
| 2016 | 2.68% |
| 2017 | 2.48% |
| 2018 | 2.78% |
| 2019 | 2.58% |
| 2020 | 2.28% |
| 2021 | 2.08% |
| 2022 | 2.68% |
| 2023 | 2.48% |
| 2024 | 2.48% |
| 2025 | 2.68% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $8.4B | -- |
| 2017 | $6.4B | -23.8% |
| 2018 | $4.4B | -31.2% |
| 2019 | $4.0B | -9.1% |
| 2020 | $2.4B | -40.0% |
| 2021 | $2.4B | 0.0% |
| 2022 | $1.6B | -33.3% |
| 2023 | $1.6B | 0.0% |
| 2024 | $1.4B | -12.5% |
| 2025 | $1.4B | 0.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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