GIEQ vs. HAWX

Last updated Jul 1, 2026

GIEQ (Goldman Sachs Data Enhanced International Equity ETF) and HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) are both Foreign Large Cap Equities funds. A 0.76 correlation means they provide meaningful diversification when combined. GIEQ charges 0.30%/yr vs 0.35%/yr for HAWX.

Performance

GIEQ vs. HAWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Data Enhanced International Equity ETF (GIEQ) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GIEQ

• 1D: 0.42%
• 1M: 0.58%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HAWX

• 1D: 0.86%
• 1M: 2.54%
• YTD: 17.78%
• 6M: 17.48%
• 1Y: 35.48%
• 3Y*: 21.47%
• 5Y*: 13.00%
• 10Y*: 12.65%

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

GIEQ vs. HAWX - Yearly Performance Comparison

	2026 (YTD)
GIEQ Goldman Sachs Data Enhanced International Equity ETF	2.40%
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF	4.86%

Correlation

The correlation between GIEQ and HAWX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 21, 2026	0.76

Return for Risk

GIEQ vs. HAWX — Risk / Return Rank

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

GIEQ

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

HAWX

HAWX Risk / Return Rank: 87
HAWX Sharpe Ratio Rank: 89
HAWX Sortino Ratio Rank: 86
HAWX Omega Ratio Rank: 89
HAWX Calmar Ratio Rank: 83
HAWX Martin Ratio Rank: 87

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.

GIEQ vs. HAWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Data Enhanced International Equity ETF (GIEQ) 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.

	GIEQ	HAWX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.49	—
Sortino ratio: Return per unit of downside risk	—	3.30	—
Omega ratio: Gain probability vs. loss probability	—	1.47	—
Calmar ratio: Return relative to maximum drawdown	—	3.80	—
Martin ratio: Return relative to average drawdown	—	15.49	—

Drawdowns

GIEQ vs. HAWX - Drawdown Comparison

The maximum GIEQ drawdown since its inception was -3.19%, smaller than the maximum HAWX drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for GIEQ and HAWX.

Drawdown Indicators

	GIEQ	HAWX	Difference
Max Drawdown Largest peak-to-trough decline	-3.19%	-30.63%	+27.44%
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	-0.67%	-1.57%	+0.90%
Average Drawdown Average peak-to-trough decline	-0.80%	-4.27%	+3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.30%	—

Volatility

Volatility by Period

	GIEQ	HAWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	14.30%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	13.61%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	15.28%	+0.74%

GIEQ vs. HAWX - Expense Ratio Comparison

GIEQ has a 0.30% expense ratio, which is lower than HAWX's 0.35% expense ratio.

Dividends

GIEQ vs. HAWX - Dividend Comparison

GIEQ has not paid dividends to shareholders, while HAWX's dividend yield for the trailing twelve months is around 2.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIEQ Goldman Sachs Data Enhanced International Equity 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	2.38%	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

Can I hold both GIEQ and HAWX in my portfolio?

GIEQ and HAWX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GIEQ or HAWX?

On fees, GIEQ is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GIEQ or HAWX?

GIEQ is cheaper with a 0.30% expense ratio, compared with 0.35% for HAWX.

Which ETF pays a higher dividend yield, GIEQ or HAWX?

HAWX has the higher dividend yield at 2.38%, compared with 0.00% for GIEQ.

What is the main difference between GIEQ and HAWX?

They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.30% for GIEQ and 0.35% for HAWX.