- ISIN
- US46435G8472
- CUSIP
- 46435G847
- Issuer
- iShares
- Inception Date
- Jun 29, 2015
- Region
- Developed Markets (Broad)
- Category
- Foreign Large Cap Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI ACWI ex USA 100% Hedged to USD
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $346M
Highlights
- Avg. Volume (1M)
- 37K
- Avg. Volume Value (1M)
- $1.65M
Share Price Chart
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Performance
HAWX Performance Chart
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is up 15.3% since the beginning of the year. HAWX is currently trading at $45 per share. Investors who bought $1,000 worth of HAWX shares 5 years ago would now be looking at an investment worth $1,840.
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Returns By Period
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) has returned 15.28% so far this year and 32.19% over the past 12 months. Over the last ten years, HAWX has returned 12.00% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
iShares Currency Hedged MSCI ACWI ex U.S. ETF
- 1D
- 0.04%
- 1M
- -0.89%
- 6M
- 10.23%
- YTD
- 15.28%
- 1Y
- 32.19%
- 3Y*
- 19.74%
- 5Y*
- 12.97%
- 10Y*
- 12.00%
- ALL TIME*
- 9.95%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
HAWX Monthly Returns History
Based on dividend-adjusted daily data since Jul 1, 2015, HAWX's average daily return is +0.04%, while the average monthly return is +0.86%. At this rate, an investment would double in approximately 6.7 years.
Historically, 67% of months were positive and 33% were negative. The best month was Nov 2020 with a return of +10.7%, while the worst month was Mar 2020 at -13.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, HAWX closed higher 50% of trading days. The best single day was Mar 13, 2020 with a return of +7.9%, while the worst single day was Mar 16, 2020 at -11.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.58% | 5.26% | -5.92% | 5.94% | 4.69% | 2.54% | -2.12% | 15.28% | |||||
| 2025 | 3.23% | 1.74% | -1.15% | -0.57% | 3.83% | 2.39% | 1.66% | 2.77% | 3.81% | 3.67% | 0.35% | 1.96% | 26.24% |
| 2024 | 0.41% | 3.97% | 3.84% | -0.63% | 2.85% | 0.57% | 0.95% | 1.00% | 1.68% | -1.66% | 1.13% | 0.01% | 14.88% |
| 2023 | 7.60% | -1.57% | 1.33% | 1.86% | -1.67% | 3.79% | 3.10% | -2.80% | -1.53% | -2.57% | 5.97% | 3.00% | 17.05% |
| 2022 | -2.06% | -3.14% | 0.84% | -2.78% | 0.78% | -5.12% | 3.77% | -2.31% | -6.59% | 3.56% | 8.87% | -3.74% | -8.59% |
| 2021 | 1.37% | 2.61% | 3.33% | 0.61% | 2.28% | 1.30% | -1.61% | 1.78% | -2.10% | 2.66% | -2.96% | 3.63% | 13.40% |
Benchmark Metrics
iShares Currency Hedged MSCI ACWI ex U.S. ETF has an annualized alpha of 1.75%, beta of 0.68, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since July 01, 2015.
- This ETF participated in 68.70% of S&P 500 Index downside but only 67.14% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.68 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 1.75%
- Beta
- 0.68
- R²
- 0.62
- Upside Capture
- 67.14%
- Downside Capture
- 68.70%
Expense Ratio
HAWX has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HAWX ranks 85 for risk / return — above 85% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HAWX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 2.00 | +1.25 |
| Martin ratioReturn relative to average drawdown | 12.19 | 8.49 | +3.70 |
Dividends
Dividend History
iShares Currency Hedged MSCI ACWI ex U.S. ETF provided a 2.51% dividend yield over the last twelve months, with an annual payout of $1.13 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.13 | $1.11 | $1.07 | $0.86 | $4.32 | $0.86 | $0.59 | $0.91 | $0.59 | $0.65 | $0.57 | $0.86 |
Dividend yield | 2.51% | 2.80% | 3.31% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Currency Hedged MSCI ACWI ex U.S. ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.50 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.00 | $0.00 | $0.00 | $0.00 | $0.63 | $1.11 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.49 | $0.00 | $0.00 | $0.00 | $0.00 | $0.58 | $1.07 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | $0.86 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.00 | $0.00 | $3.82 | $4.32 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.86 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Currency Hedged MSCI ACWI ex U.S. ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Currency Hedged MSCI ACWI ex U.S. ETF was 30.63%, occurring on Mar 16, 2020. Recovery took 171 trading sessions.
The current iShares Currency Hedged MSCI ACWI ex U.S. ETF drawdown is 3.65%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-30.63%Mar 2020 | 1mo 25d | 8mo 5d | 10moJan 2020 - Nov 2020 | COVID crash2020 |
-19.33%Feb 2016 | 6mo 22d | 11mo | 1y 5moJul 2015 - Jan 2017 | — |
-17.47%Oct 2022 | 10mo 29d | 8mo 4d | 1y 6moNov 2021 - Jun 2023 | Bear market2022 |
-15.50%Dec 2018 | 10mo 29d | 4mo | 1y 2moJan 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-13.30%Apr 2025 | 19d | 1mo 4d | 1mo 23dMar 2025 - May 2025 | 2025 selloff2025 |
Drawdown Indicators
| HAWX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -56.78% | +26.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -9.10% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -13.30% | -18.90% | +5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -17.47% | -25.43% | +7.96% |
Max Drawdown (10Y)Largest decline over 10 years | -30.63% | -33.92% | +3.29% |
Current DrawdownCurrent decline from peak | -3.65% | -1.58% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -10.70% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.14% | +0.37% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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