Currency positions ETFs in dollar displacement
ETFs that hedge the dollar out, or hold a currency. Driven by the difference between US and foreign short-term interest rates, which sets what a hedge costs or pays.
18ETFs in this category
$32.2bnmoney in them
1.3%of dollar displacement’s money
DBEFlargest unleveraged ETF, 29.1%
How they did, to Nov 2, 2026
| 1 month | YTD | 12 months | |
|---|---|---|---|
| Category median | −1.2% | +12.9% | +15.3% |
| Its story | −3.1% | +10.8% | +13.8% |
| Broad US ETFs | −2.5% | +11.5% | +11.8% |
Every ETF here, largest first
| # | ETF | Name | Assets | Share | 12 months | Fee |
|---|---|---|---|---|---|---|
| 1 | DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | $9.4bn | 29.1% | +16.9% | 0.35% |
| 2 | HEFA | iShares Currency Hedged MSCI EAFE ETF | $7.6bn | 23.7% | +18.1% | 0.35% |
| 3 | DXJ | WisdomTree Japan Hedged Equity Fund | $7.1bn | 22.1% | +31.8% | 0.48% |
| 4 | IHDG | WisdomTree Intl Hedged Quality Dividend Growth Fund | $2.1bn | 6.4% | +12.5% | 0.58% |
| 5 | HEDJ | WisdomTree Europe Hedged Equity Fund | $1.7bn | 5.4% | +10.3% | 0.58% |
| 6 | DBEU | Xtrackers MSCI Europe Hedged Equity ETF | $788m | 2.4% | +16.6% | 0.46% |
| 7 | DBJP | Xtrackers MSCI Japan Hedged Equity ETF | $718m | 2.2% | +22.6% | 0.45% |
| 8 | HEWJ | iShares Currency Hedged MSCI Japan ETF | $640m | 2.0% | +22.6% | 0.49% |
| 9 | HEZU | iShares Currency Hedged MSCI Eurozone ETF | $424m | 1.3% | +14.0% | 0.53% |
| 10 | DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | $370m | 1.1% | +15.7% | 0.40% |
| 11 | HAWX | iShares Currency Hedged MSCI ACWI ex U.S. ETF | $355m | 1.1% | +16.3% | 0.35% |
| 12 | USDU | WisdomTree Bloomberg US Dollar Bullish Fund | $331m | 1.0% | +4.5% | 0.51% |
| 13 | HEEM | iShares Currency Hedged MSCI Emerging Markets ETF | $281m | 0.9% | +14.9% | 0.72% |
| 14 | FLJH | Franklin FTSE Japan Hedged ETF | $204m | 0.6% | +17.6% | 0.09% |
| 15 | DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | $106m | 0.3% | +14.2% | 0.66% |
| 16 | DBEZ | Xtrackers MSCI Eurozone Hedged Equity ETF | $68m | 0.2% | +13.8% | 0.45% |
| 17 | CEW | WisdomTree Emerging Currency Strategy Fund | $20m | 0.1% | +5.5% | 0.55% |
| 18 | INDH | WisdomTree India Hedged Equity Fund | $6m | 0.0% | −8.9% | 0.64% |
Other categories in dollar displacement
Common questions
Which ETFs are currency positions ETFs?18 US ETFs sit in this category of dollar displacement. ETFs that hedge the dollar out, or hold a currency. Driven by the difference between US and foreign short-term interest rates, which sets what a hedge costs or pays.
What is the largest currency positions ETF?DBEF, Xtrackers MSCI EAFE Hedged Equity ETF, with $9.4bn, 29.1% of the category's money.
How have currency positions ETFs performed?The median unleveraged ETF here returned +15.3% over the last 12 months to Nov 2, 2026, against +11.8% for broad US ETFs. Past performance, not a forecast.