On a developer machine i have different web site accessed by different host name placed inside the HOSTS file, this solution works fine with all browser except Microsoft Edge. So, Edge do not look inside host file to resolve address. To do the same things you need a DNS Server.

PS.

This Technet article https://technet.microsoft.com/fr-fr/library/mt270204.aspx list group policy for EDGE. Intranet traffic can be configured to send all request to Internet Explorer.

PS2.  29-08-2015

Edge do not consider alias in hosts file formed of single word. If the alias i formed as word1.word2 it is accepted without problem!