iShares Currency Hedged MSCI Italy ETF
HEWI
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- iShares Currency Hedged MSCI Italy ETF (HEWI) is an exchange-traded fund that seeks to track the investment results of the MSCI Italy 25/50 100% Hedged to USD Index, providing exposure to large- and mid-capitalization Italian equities while mitigating fluctuations in the Italian lira against the U.S. dollar through currency hedging strategies. The fund invests directly in Italian stocks, derivatives, and other funds replicating the underlying index constituents across diversified sectors including financials, industrials, consumer discretionary, and utilities; it offers investors targeted access to the Italian equity market without unhedged euro currency risk. Managed by BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., with headquarters in San Francisco, California, the ETF was launched on June 29, 2015, and is domiciled in the United States. HEWI primarily serves institutional and retail investors seeking single-country equity exposure to Italy within a currency-hedged framework, operating in the global exchange-traded products industry segment focused on international developed markets. The fund lists on U.S. exchanges such as NYSE Arca and targets a broad range of Italian companies, emphasizing market-cap weighted holdings subject to the MSCI 25/50 diversification constraints. Geographically, it provides indirect operations tied to Italy's public equity markets while trading and hedging in USD-denominated instruments accessible worldwide. In recent developments, HEWI was closed and liquidated by BlackRock, with trading ceasing on August 17, 2020, and final distributions completed thereafter, reflecting low assets under management and investor interest in this niche hedged single-country product. Prior to closure, the fund maintained steady but modest performance tracking its benchmark, with no reported partnerships, acquisitions, funding rounds, or new product launches specific to HEWI in the 1-2 years leading up; this termination aligns with BlackRock's periodic portfolio rationalization of underperforming or low-AUM iShares ETFs. No subsidiaries or parent relationships beyond BlackRock, Inc., oversight apply to the now-defunct fund.