Betashares Europe Currency Hedged ETF (HEUR) Review & Analysis

MER · #325 of 514AUM · #293 of 5081Y Return · Top 25%3Y Return · Top 50%5Y Return · Top 50%
What's new this monthData to 30 September 2026
  • −1.3% in September (total return), behind the median international shares ETF at +0.0%.
  • Investors added a net $1.9m (2.1% of the fund).
  • The unit price closed the month at $18.49, 8% below its 12-month high (range $15.81 to $20.09).

About HEUR

HEUR is an international shares ETF from Betashares, listed on the ASX since May 2016. With $88m under management it is number 145 of 254 international shares ETFs by size. The management fee is 0.56% a year, about $56 on every $10,000 invested, dearer than the typical international shares ETF at 0.55%.

Its largest holdings are ASML Holding NV, SAP SE and Siemens AG, and the top 10 make up 40% of the fund. By sector it leans towards information technology (19%) and industrials (18%). Germany is the biggest country exposure at 31%.

Over five years it has returned +8.8% a year including distributions, against +8.8% for the median international shares ETF.

HEUR distributions and dividend dates

The latest distribution was $0.7844 per unit (0% franked), ex-distribution on 1 July 2026 and paid on 16 July 2026. To receive it you need to own HEUR before the ex-date.

From ASX announcements, updated nightly. See every ETF in the dividend calendar.

Compare HEURCheck overlapBetashares website ↗

Compare HEUR with

HEURvsVGAD
Vanguard MSCI Index International Shares (Hedged) ETF
Fee0.56%0.21%
1 year+17.2%+17.1%
5 yrs p.a.+8.8%+10.8%
Size$88m$7.9bn
Same holdings4%Very different
Full comparison →
HEURvsIHVV
iShares S&P 500 (AUD Hedged) ETF
Fee0.56%0.10%
1 year+17.2%+15.4%
5 yrs p.a.+8.8%+10.9%
Size$88m$4.3bn
Same holdings0%No companies in common
Full comparison →
HEURvsDFGH
Dimensional Global Core Equity Trust (AUD Hedged Class) – Active ETF
Fee0.56%0.36%
1 year+17.2%+18.2%
5 yrs p.a.+8.8%–
Size$88m$4.2bn
Same holdingsNo holdings data
Full comparison →
HEURvsHGBL
Betashares Global Shares Currency Hedged ETF
Fee0.56%0.11%
1 year+17.2%+17.4%
5 yrs p.a.+8.8%–
Size$88m$3.0bn
Same holdings5%Very different
Full comparison →

HEUR price by TradingView

Stock CodeHEUR
Fund ManagerBetashares
Asset ClassInternational shares
AUM$88m
MER (%)0.56%
Net flows (Sep)+$1.9m
Last Price$18.49
52-Week Range$15.81 – $20.09
Bid/Ask Spread0.14%
Listing Date12/05/2016
ExchangeASX
IndexNot yet in our data. See the PDS
Issuer websiteBetashares ↗

Performance (% return)

-1%19%38%58%1M-1.3%1Y17.2%3Y58.2%5Y52.4%
1 month−1.3%
1 year+17.2%
3 years p.a.+16.5%
5 years p.a.+8.8%

$10,000 invested…

1 year ago$11,7173 years ago$15,8225 years ago$15,243

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

HEUR at a glance: strengths and things to watch

👍 Strengths

  • Long track record. Listed since 2016, through several market cycles.

⚠️ Things to watch

  • Nothing stands out against its category.

Worked out from HEUR's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

Joshua StegaetfadviserTrend check
Base since 7 Sep 2026

HEUR is in a base. Here's why that matters.

HEUR's moving averages are tangled and the price is moving sideways. The trend hasn't picked a direction yet. Its price is 6.1% below its 12-month high.

Why it matters: Bases are where the next big move starts. A breakout can begin a new uptrend, while a breakdown can start a long fall. Buying a satellite before the breakout often means waiting months for nothing to happen.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 daysHow base and trend works →See every ETF's stage →Visit etfadviser.com.au →
Oct 25Jan 26Apr 26Jul 26Oct 26
UptrendBaseDowntrend

HEUR weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

Investment Focus

Exposure Regions

Europe & UK

Themes & Sectors

Currency hedged

Portfolio Breakdown

Top 10 holdings (39.8% of the fund)

SymbolCompany% assets
ASML10.61%
SAP4.47%
SIE3.97%
TTE3.60%
ALV3.47%
SAN3.16%
SU2.80%
IBE2.77%
AIR2.47%
BBVA2.44%

Sector breakdown

  • Information Technology19.4%
  • Industrials18.1%
  • Financials16.8%
  • Consumer Discretionary10.6%
  • Health Care8.0%
  • Utilities7.7%
  • Consumer Staples6.5%
  • Energy5.5%
  • Other7.4%

Country breakdown

  • Germany30.7%
  • France22.1%
  • Netherlands15.4%
  • ES10.7%
  • United States5.8%
  • FI4.6%
  • IT3.5%
  • BE2.7%
  • Other4.6%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 118 positions, covering 100% of the fund. Compare HEUR's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

CodeNameSame holdingsMERAUM1Y3Y p.a.5Y p.a.
ESTXGlobal X EURO STOXX 50 ETF
70%
0.35%$490m+7.6%+16.7%+10.6%
IEUiShares Europe ETF
36%
0.58%$1.3bn+8.3%+14.2%+9.3%
VEQVanguard FTSE Europe Shares ETF
34%
0.35%$632m+7.7%+14.4%+8.5%
IVEiShares MSCI EAFE ETF
25%
0.32%$624m+10.1%+14.8%+8.8%
EXUSBetashares Global Shares Ex Us ETF
22%
0.14%$158m–––
VGADVanguard MSCI Index International Shares (Hedged) ETF Currency hedged
4%
0.21%$7.9bn+17.1%+19.8%+10.8%

Same holdings is the share of HEUR's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like HEUR →

HEUR vs its closest alternatives

What actually differs between HEUR and the ETFs most like it. Data to 30 Sep 2026.

ESTX Global X EURO STOXX 50 ETF

  • They share 70% of their holdings: a lot of doubling up.
  • ESTX is cheaper (0.35% vs 0.56%), worth about $14,009 on $100,000 over 20 years.
  • Over 3 years, a year: HEUR +16.5%, ESTX +16.7% (almost identical).
  • ESTX is about 6 times larger ($490m vs $88m), which usually means tighter trading spreads.
  • Different structure: HEUR is currency hedged, ESTX is a standard fund.

Compare HEUR and ESTX side by side →

IEU iShares Europe ETF

  • They share 36% of their holdings: some overlap.
  • HEUR is cheaper (0.56% vs 0.58%), worth about $1,307 on $100,000 over 20 years.
  • Over 3 years, a year: HEUR +16.5%, IEU +14.2% (HEUR ahead by 2.3 percentage points).
  • IEU is much larger ($1.3bn vs $88m), which usually means tighter trading spreads.
  • Different structure: HEUR is currency hedged, IEU is a standard fund.

Compare HEUR and IEU side by side →

VEQ Vanguard FTSE Europe Shares ETF

  • They share 34% of their holdings: some overlap.
  • VEQ is cheaper (0.35% vs 0.56%), worth about $14,009 on $100,000 over 20 years.
  • Over 3 years, a year: HEUR +16.5%, VEQ +14.4% (HEUR ahead by 2.1 percentage points).
  • VEQ is about 7 times larger ($632m vs $88m), which usually means tighter trading spreads.
  • Different structure: HEUR is currency hedged, VEQ is a standard fund.

Compare HEUR and VEQ side by side →

General information only. Past performance is not a reliable indicator of future performance.

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HEUR FAQs

What is the fee for HEUR?

HEUR charges a management fee (MER) of 0.56% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is HEUR?

HEUR had $88m in funds under management as at 30 September 2026.

How has HEUR performed?

HEUR returned +17.2% over the year to 30 September 2026 (total return, including distributions). Over three years it returned +16.5% a year. Past performance is not a reliable indicator of future performance.

Who manages HEUR?

HEUR is managed by Betashares and has been listed since May 2016.

Is HEUR franked?

Generally no. HEUR invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does HEUR hold?

HEUR's largest holdings are ASML Holding NV (10.6%), SAP SE (4.5%), Siemens AG (4.0%), TotalEnergies SE (3.6%), Allianz SE (3.5%). It holds about 118 investments in total. The biggest sector is information technology at 19%. Holdings as at 30 October 2026.

Is HEUR currency hedged?

Yes. HEUR is currency hedged, so changes in the Australian dollar have little effect on its returns. You get the return of the underlying investments in their local currency, less a small cost of hedging.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the Betashares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.