BGIA vs. HAWX
BGIA (Baillie Gifford International Alpha ETF) and HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) are both Foreign Large Cap Equities funds. BGIA is actively managed, while HAWX is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. BGIA charges 0.59%/yr vs 0.35%/yr for HAWX.
Performance
BGIA vs. HAWX - Performance Comparison
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Returns By Period
BGIA
- 1D
- 0.21%
- 1M
- -1.54%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HAWX
- 1D
- -0.15%
- 1M
- 0.21%
- 6M
- 14.66%
- YTD
- 16.32%
- 1Y
- 33.06%
- 3Y*
- 20.74%
- 5Y*
- 12.80%
- 10Y*
- 12.51%
BGIA vs. HAWX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
BGIA Baillie Gifford International Alpha ETF | -2.53% |
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | -0.34% |
Correlation
The correlation between BGIA and HAWX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 3, 2026 | 0.91 |
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Return for Risk
BGIA vs. HAWX — Risk / Return Rank
BGIA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HAWX
BGIA vs. HAWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Baillie Gifford International Alpha ETF (BGIA) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| BGIA | HAWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.44 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.59 | — |
| Martin ratioReturn relative to average drawdown | — | 14.56 | — |
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Drawdowns
BGIA vs. HAWX - Drawdown Comparison
The maximum BGIA drawdown since its inception was -4.88%, smaller than the maximum HAWX drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for BGIA and HAWX.
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Drawdown Indicators
| BGIA | HAWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.88% | -30.63% | +25.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.39% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.63% | — |
Current DrawdownCurrent decline from peak | -3.23% | -2.79% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -4.27% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.31% | — |
Volatility
BGIA vs. HAWX - Volatility Comparison
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Volatility by Period
| BGIA | HAWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.69% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.16% | 14.35% | +10.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.16% | 13.62% | +11.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.16% | 15.28% | +9.88% |
BGIA vs. HAWX - Expense Ratio Comparison
BGIA has a 0.59% expense ratio, which is higher than HAWX's 0.35% expense ratio.
Dividends
BGIA vs. HAWX - Dividend Comparison
BGIA has not paid dividends to shareholders, while HAWX's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGIA Baillie Gifford International Alpha ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.49% | 2.80% | 3.31% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% |
Frequently Asked Questions
With a correlation of 0.91, BGIA and HAWX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HAWX is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HAWX is cheaper with a 0.35% expense ratio, compared with 0.59% for BGIA.
HAWX has the higher dividend yield at 2.49%, compared with 0.00% for BGIA.
They also come from different issuers: Baillie Gifford and iShares. Their fees differ too: 0.59% for BGIA and 0.35% for HAWX.
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