The study investigates the financial attributes of firms that utilise different hedging instruments. The findings show that firms that use interest rate swaps and futures and forwards tend to display higher size, growth, profitability, dividend payout and leverage measures as opposed to firms that do not use hedging. By distinguishing between two major types of hedging instruments, the findings assist users in understanding the economic consequences that stem from the selection of different hedging tools and in making unbiased predictions about firms’ future financial prospects and position.