DBAW vs. IDHQ
DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both Foreign Large Cap Equities funds - DBAW tracks the MSCI ACWI ex USA US Dollar Hedged Index while IDHQ tracks the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. Both are passively managed. Over the past 10 years, DBAW returned 11.01%/yr vs 10.56%/yr for IDHQ. A 0.74 correlation means they provide meaningful diversification when combined. DBAW charges 0.41%/yr vs 0.29%/yr for IDHQ.
Performance
DBAW vs. IDHQ - Performance Comparison
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Returns By Period
In the year-to-date period, DBAW achieves a 14.29% return, which is significantly lower than IDHQ's 24.14% return. Both investments have delivered pretty close results over the past 10 years, with DBAW having a 11.01% annualized return and IDHQ not far behind at 10.56%.
DBAW
- 1D
- -0.56%
- 1M
- -2.43%
- 6M
- 8.99%
- YTD
- 14.29%
- 1Y
- 28.67%
- 3Y*
- 19.86%
- 5Y*
- 11.19%
- 10Y*
- 11.01%
IDHQ
- 1D
- -0.25%
- 1M
- 1.40%
- 6M
- 17.71%
- YTD
- 24.14%
- 1Y
- 35.93%
- 3Y*
- 18.62%
- 5Y*
- 9.52%
- 10Y*
- 10.56%
DBAW vs. IDHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 14.29% | 26.47% | 14.35% | 16.26% | -13.35% | 13.08% | 7.44% | 22.96% | -10.38% | 18.79% |
IDHQ Invesco S&P International Developed High Quality ETF | 24.14% | 27.46% | 1.33% | 18.80% | -20.23% | 11.38% | 16.09% | 29.58% | -13.38% | 28.16% |
Correlation
The correlation between DBAW and IDHQ is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2014 | 0.74 |
The correlation between DBAW and IDHQ shifts across timeframes, from 0.74 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBAW vs. IDHQ — Risk / Return Rank
DBAW
IDHQ
DBAW vs. IDHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and Invesco S&P International Developed High Quality ETF (IDHQ). 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.
| DBAW | IDHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.32 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 2.69 | +0.52 |
| Martin ratioReturn relative to average drawdown | 12.34 | 10.55 | +1.79 |
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Drawdowns
DBAW vs. IDHQ - Drawdown Comparison
The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for DBAW and IDHQ.
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Drawdown Indicators
| DBAW | IDHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.44% | -73.84% | +42.40% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -13.44% | +4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -14.11% | -14.07% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -33.54% | +15.67% |
Max Drawdown (10Y)Largest decline over 10 years | -31.44% | -33.54% | +2.10% |
Current DrawdownCurrent decline from peak | -4.26% | -2.44% | -1.82% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -21.07% | +16.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 3.41% | -1.08% |
Volatility
DBAW vs. IDHQ - Volatility Comparison
The current volatility for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) is 5.02%, while Invesco S&P International Developed High Quality ETF (IDHQ) has a volatility of 5.73%. This indicates that DBAW experiences smaller price fluctuations and is considered to be less risky than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBAW | IDHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 5.73% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 12.67% | 18.90% | -6.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.43% | 20.74% | -6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.01% | 17.83% | -3.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.19% | 17.96% | -2.77% |
DBAW vs. IDHQ - Expense Ratio Comparison
DBAW has a 0.41% expense ratio, which is higher than IDHQ's 0.29% expense ratio.
Dividends
DBAW vs. IDHQ - Dividend Comparison
DBAW's dividend yield for the trailing twelve months is around 1.72%, less than IDHQ's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 1.72% | 3.83% | 1.70% | 3.45% | 8.81% | 2.05% | 2.08% | 2.91% | 2.93% | 2.41% | 1.99% | 5.74% |
IDHQ Invesco S&P International Developed High Quality ETF | 2.04% | 2.46% | 2.41% | 2.52% | 3.33% | 2.10% | 1.60% | 2.10% | 2.67% | 1.68% | 2.36% | 1.71% |
Frequently Asked Questions
DBAW and IDHQ have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IDHQ has higher volatility (5.73%) compared to DBAW (5.02%). In terms of maximum drawdown, DBAW dropped -31.44% vs IDHQ's -73.84%.
On 10-year performance, DBAW leads with 11.01% vs 10.56% for IDHQ. On fees, IDHQ is cheaper at 0.29% per year. On volatility, DBAW has been the lower-risk option at 5.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBAW has performed better with a 11.01% return vs 10.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDHQ is cheaper with a 0.29% expense ratio, compared with 0.41% for DBAW.
IDHQ has the higher dividend yield at 2.04%, compared with 1.72% for DBAW.
DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index, while IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. They also come from different issuers: Deutsche Bank and Invesco. Their fees differ too: 0.41% for DBAW and 0.29% for IDHQ.
DBAW currently has the higher Sharpe Ratio (2.00 vs 1.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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