- 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
- $356M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
HAWX Performance Chart
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is up 19.7% since the beginning of the year. HAWX is currently trading at $47 per share. Investors who bought $1,000 worth of HAWX shares 5 years ago would now be looking at an investment worth $1,890.
Loading charts...
Returns By Period
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) has returned 19.66% so far this year and 40.65% over the past 12 months. Over the last ten years, HAWX has returned 12.83% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
iShares Currency Hedged MSCI ACWI ex U.S. ETF
- 1D
- 0.64%
- 1M
- 5.80%
- YTD
- 19.66%
- 6M
- 20.07%
- 1Y
- 40.65%
- 3Y*
- 22.87%
- 5Y*
- 13.58%
- 10Y*
- 12.83%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
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 +0.89%. At this rate, an investment would double in approximately 6.5 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% | 4.17% | 19.66% | ||||||
| 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 2.15%, beta of 0.67, and R2 of 0.62 versus S&P 500 Index. Calculated based on daily prices since July 01, 2015.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (67.14%) than losses (66.67%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 2.15% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.67 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
- 2.15%
- Beta
- 0.67
- R²
- 0.62
- Upside Capture
- 67.14%
- Downside Capture
- 66.67%
Expense Ratio
HAWX has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HAWX ranks 88 for risk / return — in the top 88% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by 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 | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.37 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.35 | 2.78 | +1.57 |
| Martin ratioReturn relative to average drawdown | 18.01 | 12.44 | +5.57 |
Dividends
Dividend History
iShares Currency Hedged MSCI ACWI ex U.S. ETF provided a 2.34% dividend yield over the last twelve months, with an annual payout of $1.11 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 | $1.11 | $1.11 | $1.07 | $0.86 | $4.32 | $0.86 | $0.59 | $0.91 | $0.59 | $0.65 | $0.57 | $0.86 |
Dividend yield | 2.34% | 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 | $0.00 | ||||||
| 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.
Loading charts...
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.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -30.63%Mar 2020 | 1mo 25d | 8mo 5d | 10moJan 2020 - Nov 2020 |
2016 correction2016 | -19.33%Feb 2016 | 6mo 22d | 11mo | 1y 5moJul 2015 - Jan 2017 |
Bear market2022 | -17.47%Oct 2022 | 10mo 29d | 8mo 4d | 1y 6moNov 2021 - Jun 2023 |
Rate-hike selloffLate 2018 | -15.50%Dec 2018 | 10mo 29d | 4mo | 1y 2moJan 2018 - Apr 2019 |
2025 selloff2025 | -13.30%Apr 2025 | 19d | 1mo 4d | 1mo 23dMar 2025 - May 2025 |
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 | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -10.71% | +6.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.03% | +0.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with HAWX
Add iShares Currency Hedged MSCI ACWI ex U.S. ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with HAWX