HEWJ vs VOO
iShares Currency Hedged MSCI Japan ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. HEWJ delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | HEWJ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.03% | |
| AUM | $769M | $997.4B | |
| Dividend Yield | 4.14% | 1.08% | |
| Holdings | 178 | 509 | |
| YTD Return | +20.55% | +13.20% | |
| 1Y Return | +36.77% | +21.62% | |
| 3Y Return (annualized) | +28.72% | +22.16% | |
| 5Y Return (annualized) | +22.40% | +13.42% | |
| Volatility (annualized) | 14.9% | 14.1% | |
| Max Drawdown | -34.1% | -34.3% | |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 31, 2014 | Sep 7, 2010 |
HEWJ vs VOO Performance
iShares Currency Hedged MSCI Japan ETF (HEWJ) is a ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year HEWJ returned +36.77% while VOO returned +21.62%. Year to date, HEWJ is up 20.55% versus a gain of 13.20% for VOO.
Over three years, HEWJ compounded at +28.72% per year against +22.16% for VOO; over five years the annualized figures are +22.40% and +13.42% respectively. Across the full 13-year window we track, VOO has the edge at +13.51% annualized vs +12.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HEWJ has been the more volatile fund, with annualized monthly volatility of 14.9% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.1% for HEWJ and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HEWJ charges 0.50% per year while VOO charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, HEWJ currently yields 4.14% against 1.08% for VOO.
Holdings Overlap
HEWJ and VOO share 0 holdings out of 674 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HEWJ or VOO?
HEWJ has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, HEWJ or VOO?
Over the past year HEWJ returned +36.77% vs +21.62% for VOO, so HEWJ leads on 1-year performance. Over the longest common window we track (13 years), HEWJ annualized +12.79% vs +13.51% for VOO. Past performance does not guarantee future results.
Which is riskier, HEWJ or VOO?
HEWJ has been the more volatile fund at 14.9% annualized versus 14.1% for VOO. Worst drawdown: HEWJ -34.1% vs VOO -34.3%.
Should I hold both HEWJ and VOO?
HEWJ and VOO have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HEWJ and VOO?
HEWJ and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 674 unique securities.
Which pays a higher dividend, HEWJ or VOO?
HEWJ yields 4.14% while VOO yields 1.08%, so HEWJ currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.