DBAW vs. MDIJX

Last updated Jun 24, 2026

DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) and MDIJX (MFS International Diversification Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, DBAW returned 11.99%/yr vs 10.42%/yr for MDIJX. Their correlation of 0.82 suggests significant overlap in exposure. DBAW charges 0.41%/yr vs 0.82%/yr for MDIJX.

Performance

DBAW vs. MDIJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and MFS International Diversification Fund (MDIJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBAW achieves a 16.14% return, which is significantly higher than MDIJX's 10.05% return. Over the past 10 years, DBAW has outperformed MDIJX with an annualized return of 11.99%, while MDIJX has yielded a comparatively lower 10.42% annualized return.

DBAW

• 1D: -2.70%
• 1M: 2.62%
• YTD: 16.14%
• 6M: 16.41%
• 1Y: 35.60%
• 3Y*: 21.48%
• 5Y*: 11.25%
• 10Y*: 11.99%

MDIJX

• 1D: -0.13%
• 1M: 1.87%
• YTD: 10.05%
• 6M: 9.81%
• 1Y: 23.07%
• 3Y*: 16.30%
• 5Y*: 7.38%
• 10Y*: 10.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBAW vs. MDIJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	16.14%	26.47%	14.35%	16.26%	-13.35%	13.08%	7.44%	22.96%	-10.38%	18.79%
MDIJX MFS International Diversification Fund	10.05%	27.84%	6.41%	14.37%	-17.12%	7.69%	15.26%	26.00%	-11.05%	30.29%

Correlation

The correlation between DBAW and MDIJX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 27, 2014	0.82

The correlation between DBAW and MDIJX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

Return for Risk

DBAW vs. MDIJX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBAW

DBAW Risk / Return Rank: 83
DBAW Sharpe Ratio Rank: 84
DBAW Sortino Ratio Rank: 82
DBAW Omega Ratio Rank: 86
DBAW Calmar Ratio Rank: 80
DBAW Martin Ratio Rank: 84

MDIJX

MDIJX Risk / Return Rank: 39
MDIJX Sharpe Ratio Rank: 43
MDIJX Sortino Ratio Rank: 41
MDIJX Omega Ratio Rank: 44
MDIJX Calmar Ratio Rank: 33
MDIJX Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBAW vs. MDIJX - 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 MFS International Diversification Fund (MDIJX). 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	MDIJX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.78	+0.78
Sortino ratio: Return per unit of downside risk	3.41	2.48	+0.92
Omega ratio: Gain probability vs. loss probability	1.49	1.33	+0.16
Calmar ratio: Return relative to maximum drawdown	3.98	2.04	+1.93
Martin ratio: Return relative to average drawdown	16.14	7.68	+8.46

DBAW vs. MDIJX - Sharpe Ratio Comparison

The current DBAW Sharpe Ratio is 2.55, which is higher than the MDIJX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of DBAW and MDIJX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBAW vs. MDIJX - Drawdown Comparison

The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum MDIJX drawdown of -56.60%. Use the drawdown chart below to compare losses from any high point for DBAW and MDIJX.

Drawdown Indicators

	DBAW	MDIJX	Difference
Max Drawdown Largest peak-to-trough decline	-31.44%	-56.60%	+25.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-11.40%	+2.40%
Max Drawdown (3Y) Largest decline over 3 years	-14.11%	-12.57%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-17.87%	-30.19%	+12.32%
Max Drawdown (10Y) Largest decline over 10 years	-31.44%	-30.19%	-1.25%
Current Drawdown Current decline from peak	-2.70%	-0.20%	-2.50%
Average Drawdown Average peak-to-trough decline	-4.98%	-9.08%	+4.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	3.03%	-0.82%

Volatility

DBAW vs. MDIJX - Volatility Comparison

Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a higher volatility of 6.39% compared to MFS International Diversification Fund (MDIJX) at 4.89%. This indicates that DBAW's price experiences larger fluctuations and is considered to be riskier than MDIJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBAW	MDIJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	4.89%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	11.02%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.01%	13.12%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.97%	14.34%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	14.70%	+0.51%

DBAW vs. MDIJX - Expense Ratio Comparison

DBAW has a 0.41% expense ratio, which is lower than MDIJX's 0.82% expense ratio.

Dividends

DBAW vs. MDIJX - Dividend Comparison

DBAW's dividend yield for the trailing twelve months is around 1.69%, less than MDIJX's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF	1.69%	3.83%	1.70%	3.45%	8.81%	2.05%	2.08%	2.91%	2.93%	2.41%	1.99%	5.74%
MDIJX MFS International Diversification Fund	4.70%	5.17%	3.50%	4.14%	2.64%	2.70%	1.64%	2.50%	3.14%	1.63%	2.18%	1.69%

Frequently Asked Questions

Can I hold both DBAW and MDIJX in my portfolio?

DBAW and MDIJX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBAW or MDIJX?

DBAW has higher volatility (6.39%) compared to MDIJX (4.89%). In terms of maximum drawdown, DBAW dropped -31.44% vs MDIJX's -56.60%.

Which has better risk-adjusted returns?

DBAW currently has the higher Sharpe Ratio (2.55 vs 1.78), 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.