PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
DMDV vs. HAWX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DMDV vs. HAWX

Last updated Jul 17, 2026
Documentation

DMDV (AAM S&P Developed Markets High Dividend Value ETF) and HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) are both Foreign Large Cap Equities funds - DMDV tracks the S&P Developed Ex-U.S. Dividend and Free Cash Flow Yield while HAWX tracks the MSCI ACWI ex USA 100% Hedged to USD. Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. DMDV charges 0.39%/yr vs 0.35%/yr for HAWX.

Performance

DMDV vs. HAWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P Developed Markets High Dividend Value ETF (DMDV) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

DMDV

1D
—
1M
—
6M
—
YTD
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

HAWX

1D
-1.19%
1M
-1.60%
6M
9.28%
YTD
14.79%
1Y
30.66%
3Y*
20.40%
5Y*
12.76%
10Y*
11.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DMDV vs. HAWX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
DMDV
AAM S&P Developed Markets High Dividend Value ETF		0.00%0.00%7.82%18.63%-7.53%10.16%-20.45%30.25%-8.11%
HAWX
iShares Currency Hedged MSCI ACWI ex U.S. ETF		14.79%26.24%14.88%17.05%-8.59%13.40%6.92%22.75%-4.81%

Correlation

The correlation between DMDV and HAWX is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Nov 28, 2018

0.70

The correlation between DMDV and HAWX shifts across timeframes, from 0.43 (3 years) to 0.70 (all time), reflecting how their relationship changes across market environments.

DMDV vs. HAWX - Sectors Allocation Comparison

Sectors
DMDV
HAWX

Industrials

12.5%
14.2%

Real Estate

10.0%
1.4%

Consumer Defensive

9.4%
4.8%

Utilities

9.2%
3.0%

Communication Services

9.1%
4.9%

Financial Services

9.0%
23.2%

Basic Materials

9.0%
6.9%

Healthcare

8.9%
6.8%

Consumer Cyclical

8.7%
7.5%

Technology

7.6%
22.5%

Energy

6.6%
4.8%

Industrials

DMDV
12.5%
HAWX
14.2%

Real Estate

DMDV
10.0%
HAWX
1.4%

Consumer Defensive

DMDV
9.4%
HAWX
4.8%

Utilities

DMDV
9.2%
HAWX
3.0%

Communication Services

DMDV
9.1%
HAWX
4.9%

Financial Services

DMDV
9.0%
HAWX
23.2%

Basic Materials

DMDV
9.0%
HAWX
6.9%

Healthcare

DMDV
8.9%
HAWX
6.8%

Consumer Cyclical

DMDV
8.7%
HAWX
7.5%

Technology

DMDV
7.6%
HAWX
22.5%

Energy

DMDV
6.6%
HAWX
4.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

AAM S&P Developed Markets High Dividend Value ETF

iShares Currency Hedged MSCI ACWI ex U.S. ETF

Often compared with DMDV:
DMDV vs. FIDIDMDV vs. EDOGDMDV vs. VYMIDMDV vs. SCHDDMDV vs. VEADMDV vs. VTDMDV vs. SPDV
Often compared with HAWX:
HAWX vs. HEFAHAWX vs. DBAWHAWX vs. FEDDXHAWX vs. BUFIXHAWX vs. DFWIXHAWX vs. IHDGHAWX vs. DFAIX

Return for Risk

DMDV vs. HAWX — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HAWX
HAWX Risk / Return Rank: 8181
Overall Rank
HAWX Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
HAWX Sortino Ratio Rank: 7979
Sortino Ratio Rank
HAWX Omega Ratio Rank: 8383
Omega Ratio Rank
HAWX Calmar Ratio Rank: 8080
Calmar Ratio Rank
HAWX Martin Ratio Rank: 8383
Martin Ratio Rank
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.

DMDV vs. HAWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P Developed Markets High Dividend Value ETF (DMDV) 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.

DMDVHAWXDifference
Sharpe ratioReturn per unit of total volatility

—

2.10

—

Sortino ratioReturn per unit of downside risk

—

2.81

—

Omega ratioGain probability vs. loss probability

—

1.39

—

Calmar ratioReturn relative to maximum drawdown

—

3.28

—

Martin ratioReturn relative to average drawdown

—

12.92

—

DMDV vs. HAWX - Sharpe Ratio Comparison

Loading charts...

Drawdowns

DMDV vs. HAWX - Drawdown Comparison

Loading charts...

Drawdown Indicators

DMDVHAWXDifference

Max Drawdown

Largest peak-to-trough decline

—

-30.63%

—

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 Drawdown

Current decline from peak

—

-4.06%

—

Average Drawdown

Average peak-to-trough decline

—

-4.26%

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.38%

—

Volatility

DMDV vs. HAWX - Volatility Comparison

Loading charts...

Volatility by Period

DMDVHAWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

5.20%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

12.97%

—

Volatility (1Y)

Calculated over the trailing 1-year period

—

14.67%

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

—

13.65%

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

—

15.27%

—

DMDV vs. HAWX - Expense Ratio Comparison

DMDV has a 0.39% expense ratio, which is higher than HAWX's 0.35% expense ratio.

Dividends

DMDV vs. HAWX - Dividend Comparison

DMDV has not paid dividends to shareholders, while HAWX's dividend yield for the trailing twelve months is around 2.52%.

PositionTTM20252024202320222021202020192018201720162015
DMDV
AAM S&P Developed Markets High Dividend Value ETF		0.00%0.00%3.51%6.98%5.60%4.45%3.13%5.36%0.27%0.00%0.00%0.00%
HAWX
iShares Currency Hedged MSCI ACWI ex U.S. ETF		2.52%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

DMDV and HAWX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 0.39% for DMDV.

HAWX has the higher dividend yield at 2.52%, compared with 0.00% for DMDV.

DMDV tracks S&P Developed Ex-U.S. Dividend and Free Cash Flow Yield, while HAWX tracks MSCI ACWI ex USA 100% Hedged to USD. They also come from different issuers: Advisors Asset Management and iShares. Their fees differ too: 0.39% for DMDV and 0.35% for HAWX.

Portfolio Optimizer

Find the right allocation for DMDV and HAWX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer