Spotlight: iShares S&P 500 AUD Hedged ETF (ASX: IHVV)
Each month in our ETF Spotlight series, we put the focus on one of the ETFs inside our ETF portfolios or available through InvestSMART Custom.
This time, we're looking at the iShares S&P 500 AUD Hedged ETF (ASX: IHVV), which is part of our Custom offering. Here's what you need to know.
About the iShares S&P 500 AUD Hedged ETF (ASX: IHVV)
The iShares S&P 500 AUD Hedged ETF (ASX: IHVV) gives investors exposure to a diversified portfolio of around 500 large US companies through the S&P 500 Index.
According to the website, IHVV suits investors looking for capital growth with a high to very high risk/return profile. The suggested minimum investment timeframe is five years.
The ETF is currency hedged, which can help reduce the impact of fluctuations in the Australian dollar on investment returns.
Here are a few quick facts about IHVV:
- Investment manager: BlackRock
- Inception date: 15 December 2014
- Size: $3.8 billion
- Management fee: 0.10% p.a.
- Benchmark: S&P 500 Hedged AUD Index
- InvestSMART rating: 5 stars
- Distribution frequency: Annually
Where is IHVV invested?
The ETF's holdings include many of the biggest US technology and consumer brands. The top 10 holdings are listed below.
Top 10 holdings
|
Company |
Weight |
|
NVIDIA |
7.8% |
|
Apple |
6.4% |
|
Microsoft |
4.9% |
|
Amazon.com |
4.2% |
|
Alphabet (GOOGL) |
3.6% |
|
Broadcom |
3.2% |
|
Alphabet (GOOG) |
2.9% |
|
Meta |
2.2% |
|
Tesla |
1.7% |
|
Berkshire Hathaway |
1.4% |
Source: BlackRock. Holdings as of 30 April 2026.
From a sector perspective, as of April 2026, IHVV's biggest exposure by far is Information Technology (34.7%), followed by Financials (11.9%), Communication (10.9%), Consumer Discretionary (9.9%), Industrials (8.7%) and Health Care (8.4%).
What is IHVV's management fee?
At 0.10% p.a., IHVV costs a little more than the unhedged version, iShares S&P 500 ETF (ASX: IVV), at 0.04%, because it includes an extra layer designed to reduce the impact of currency fluctuations.
How has IHVV performed?
IHVV has delivered strong performance in recent years, returning an average of 19.6% a year over the three years to the end of April 2026. While the ETF pays distributions annually, most of its returns have come from capital growth.
IHVV performance
|
1 year |
3 yrs p.a. |
5 yrs p.a. |
10 yrs p.a. |
SI p.a.1 |
|
|
IHVV total return |
29.01% |
19.61% |
10.90% |
13.25% |
12.39% |
|
Benchmark |
29.00% |
19.55% |
10.82% |
13.18% |
12.34% |
Source: BlackRock. Returns for the period ending 30 April 2026. 1Since inception on 15 December 2014.
Key takeouts
IHVV gives investors a simple way to access around 500 of the largest US companies through a single ASX-listed ETF, while also reducing the impact of currency movements between the Australian and US dollars. Returns may still be volatile at times given its heavy weighting towards large technology stocks. The management fee is relatively low for a hedged international ETF and it has delivered solid returns. As always, though, past performance is not a reliable indicator of future returns.
Want to compare ETFs? Check out our handy online ETF filter tool. It can help you narrow down your options based on filters such as investment category or InvestSMART's star rating.
If you'd like help selecting the right InvestSMART ETF portfolio for you, try our free statement of advice quiz. It will show you which one may best suit your goals and investment timeframe.
Frequently Asked Questions about this Article…
The iShares S&P 500 AUD Hedged ETF (ASX: IHVV) is an ASX‑listed fund from BlackRock that gives Australian investors exposure to around 500 large US companies via the S&P 500 Index. It’s designed for capital growth, carries a high to very high risk/return profile, and had an inception date of 15 December 2014 with about $3.8 billion in assets (as reported).
IHVV is currency hedged to the Australian dollar, which aims to reduce the impact of AUD–USD exchange rate swings on your returns. That can help if you want US equity exposure but less sensitivity to currency moves. The hedge does add an extra layer and is one reason IHVV’s management fee is higher than the unhedged alternative.
IHVV is managed by BlackRock and tracks the S&P 500 Hedged AUD Index, offering a hedged version of S&P 500 exposure for Australian investors.
IHVV’s management fee is 0.10% p.a. The unhedged iShares S&P 500 ETF (ASX: IVV) charges 0.04% p.a., so IHVV costs a little more because of the currency‑hedging layer.
As of 30 April 2026, IHVV’s top 10 holdings include NVIDIA (7.8%), Apple (6.4%), Microsoft (4.9%), Amazon (4.2%), Alphabet GOOGL (3.6%), Broadcom (3.2%), Alphabet GOOG (2.9%), Meta (2.2%), Tesla (1.7%) and Berkshire Hathaway (1.4%). By sector (April 2026) its largest exposures were Information Technology (34.7%), Financials (11.9%), Communication (10.9%), Consumer Discretionary (9.9%), Industrials (8.7%) and Health Care (8.4%).
For the period ending 30 April 2026, IHVV returned 29.01% over one year and averaged 19.61% p.a. over three years; five‑ and ten‑year p.a. returns were 10.90% and 13.25% respectively, with a since‑inception (15 Dec 2014) p.a. return of 12.39%. The ETF pays distributions annually, but most recent returns have come from capital growth.
IHVV is aimed at investors seeking capital growth who accept a high to very high level of risk and the potential for volatility, particularly given its large technology weighting. The ETF’s suggested minimum investment timeframe is five years.
Key takeaways: IHVV provides simple access to around 500 large US companies with currency hedging to reduce AUD‑USD risk, a relatively low hedged ETF fee, and solid historical returns. Consider that returns can still be volatile—especially because of heavy exposure to large tech stocks—and past performance is not a reliable indicator of future returns.
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