iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA)

For informational purposes only. Not financial advice.

Quick Answer

iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) has a 0.35% expense ratio and $7M in assets under management. Holdings and weights below are as of Mar 15, 2026.

In the stored portfolio snapshot, the largest listed holding is Nestle SA (NESN) at 2.12%, and the largest sector allocation is Financial Services at 16.7%.

iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) ETF — Price, Holdings & Analysis

ETF Overview

DEFA aims to replicate the MSCI EAFE Adaptive Hedge to USD Index, providing exposure to developed market equities, excluding the U.S. and Canada, while mitigating currency risk. The fund invests at least 80% of its assets in the component securities of the index. By adaptively hedging its currency exposure, DEFA seeks to reduce the impact of fluctuations between the U.S. dollar and the currencies of the underlying securities. This approach can be attractive to investors seeking international equity exposure without the full volatility associated with currency movements. The ETF's top holdings include Nestle SA (2.12%), ASML Holding NV (1.85%), and Roche Holding AG (1.58%). Sector allocations are diverse, with significant exposure to Financial Services (16.7%), Industrials (15.1%), and Healthcare (13.0%). DEFA may be suitable for investors looking for international diversification with a focus on currency risk management. Past performance does not guarantee future results.

Risk Metrics

DEFA's risk profile is influenced by its international equity exposure and currency hedging strategy. While the adaptive hedging aims to reduce currency risk, it does not eliminate it entirely, and the hedging process itself can introduce complexities and costs. The fund's beta of 0.91 (3Y) suggests it is slightly less volatile than the broader market. Sector concentration, with approximately 16.7% in Financial Services and 15.1% in Industrials, could expose the fund to sector-specific risks. The expense ratio of 0.35% will create a drag on performance over time. The fund's relatively small AUM of $0.01 billion could impact liquidity and trading costs. Investors should carefully consider these factors when assessing DEFA's suitability for their portfolios. Past performance does not guarantee future results.

Beta: 0.91

Expense Ratio

0.35%

What does DEFA hold?

Holding	Weight
Nestle SA (NESN)	2.12%
ASML Holding NV (ASML)	1.85%
Roche Holding AG (ROG)	1.58%
LVMH Moet Hennessy Louis Vuitton SE (MC.PA)	1.29%
Novartis AG (NOVN)	1.20%
Toyota Motor Corp (7203)	1.10%
AstraZeneca PLC (AZN.L)	1.04%
Novo Nordisk A/S B (NOVO B)	0.93%
Unilever PLC (ULVR.L)	0.88%
SAP SE (SAP.DE)	0.87%

Holdings and weights as of Mar 15, 2026. This fund data is more than 45 days old; verify current holdings with the issuer.

How Is the Fund Allocated?

Sector	Weight
Financial Services	16.7%
Industrials	15.1%
Healthcare	13.0%
Consumer Cyclical	11.5%
Consumer Defensive	10.4%
Technology	9.9%
Basic Materials	8.1%
Communication Services	5.5%
Energy	3.4%
Utilities	3.4%
Real Estate	3.0%

Country	Weight
United States	96.0%
Other	4.0%

Dividend Yield

2.23%

ARK Innovation ETF (ARKK) — 0.75% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
WisdomTree Emerging Markets ESG Fund (DVEM) — 0.32% expense ratio
Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) — 0.59% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) (Fixed Income) — 0.49% expense ratio
iShares 20+ Year Treasury Bond ETF (TLT) (Fixed Income) — 0.15% expense ratio
iShares MSCI Emerging Markets ETF (EEM) (Equity) — 0.72% expense ratio
iShares MSCI UAE ETF (UAE) (Equity) — 0.59% expense ratio
iShares Climate Conscious & Transition MSCI USA ETF (USCL) (Equity) — 0.08% expense ratio

Questions & Answers

What is DEFA and what does it track?

The iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) seeks to track the investment results of the MSCI EAFE Adaptive Hedge to USD Index. This index is designed to represent the performance of developed market equities, excluding the U.S.

and Canada, while dynamically hedging the currency exposure back to the U.S. dollar.

What is the expense ratio for DEFA?

The expense ratio for the iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) is 0.35%. This means that for every $10,000 invested in the fund, investors will pay $35 in annual expenses to cover the costs of managing the ETF.

What are the top holdings in DEFA?

As of 2026-03-15, the top holdings in the iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) are: Nestle SA (2.12%), ASML Holding NV (1.85%), Roche Holding AG (1.58%), LVMH Moet Hennessy Louis Vuitton SE (1.29%), and Novartis AG (1.20%).

Is DEFA a good long-term investment?

Whether DEFA is a suitable long-term investment depends on an individual investor's specific financial goals, risk tolerance, and investment horizon.

DEFA offers exposure to international equities with a currency hedging strategy, which may be attractive to investors seeking to mitigate currency risk. The fund's expense ratio of 0.35% should be considered as a factor impacting long-term returns.

How does DEFA compare to similar ETFs?

DEFA differentiates itself through its adaptive currency hedging strategy, which aims to dynamically adjust the hedge ratio based on market conditions. Other currency-hedged international equity ETFs may employ different hedging strategies or track different indices.

DEFA's expense ratio of 0.35% is a key factor to compare against similar ETFs, as lower expenses can lead to higher net returns over time.

Does DEFA pay dividends?

Yes, the iShares Adaptive Currency Hedged MSCI EAFE ETF (DEFA) distributes dividends. As of 2026-03-15, DEFA has a dividend yield of 2.23%.

The dividend yield represents the annual dividend income an investor can expect to receive as a percentage of the fund's share price.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Data provided for informational purposes only.

Written by machine, not reviewed page by page. Editorial oversight is systemic: the rules and the sources are checked, individual pages are not.