HAWX vs. BUFI
HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - HAWX is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA 100% Hedged to USD, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. HAWX is passively managed, while BUFI is actively managed. Over the past year, HAWX returned 35.93% vs 13.19% for BUFI. Their correlation of 0.85 suggests significant overlap in exposure. HAWX charges 0.35%/yr vs 0.69%/yr for BUFI.
Performance
HAWX vs. BUFI - Performance Comparison
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Returns By Period
In the year-to-date period, HAWX achieves a 16.22% return, which is significantly higher than BUFI's 5.09% return.
HAWX
- 1D
- -2.87%
- 1M
- 2.76%
- YTD
- 16.22%
- 6M
- 16.28%
- 1Y
- 35.93%
- 3Y*
- 21.68%
- 5Y*
- 12.75%
- 10Y*
- 12.50%
BUFI
- 1D
- -0.95%
- 1M
- 0.35%
- YTD
- 5.09%
- 6M
- 5.03%
- 1Y
- 13.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HAWX vs. BUFI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 16.22% | 26.24% | -2.16% |
BUFI AB International Buffer ETF | 5.09% | 16.50% | -1.18% |
Correlation
The correlation between HAWX and BUFI is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024 | 0.85 |
The correlation between HAWX and BUFI has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.
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Return for Risk
HAWX vs. BUFI — Risk / Return Rank
HAWX
BUFI
HAWX vs. BUFI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and AB International Buffer ETF (BUFI). 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.
| HAWX | BUFI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.30 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.84 | 2.33 | +1.52 |
| Martin ratioReturn relative to average drawdown | 15.87 | 9.26 | +6.61 |
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Drawdowns
HAWX vs. BUFI - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for HAWX and BUFI.
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Drawdown Indicators
| HAWX | BUFI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -7.43% | -23.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -5.69% | -3.70% |
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 | -2.87% | -0.95% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -0.84% | -3.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 1.43% | +0.84% |
Volatility
HAWX vs. BUFI - Volatility Comparison
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) has a higher volatility of 6.70% compared to AB International Buffer ETF (BUFI) at 2.37%. This indicates that HAWX's price experiences larger fluctuations and is considered to be riskier than BUFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAWX | BUFI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.70% | 2.37% | +4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 12.61% | 7.33% | +5.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 8.62% | +5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.60% | 9.16% | +4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.27% | 9.16% | +6.11% |
HAWX vs. BUFI - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is lower than BUFI's 0.69% expense ratio.
Dividends
HAWX vs. BUFI - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.41%, while BUFI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFI AB International Buffer 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 | 2.41% | 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
HAWX and BUFI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HAWX has higher volatility (6.70%) compared to BUFI (2.37%). In terms of maximum drawdown, HAWX dropped -30.63% vs BUFI's -7.43%.
On 1-year performance, HAWX leads with 35.93% vs 13.19% for BUFI. On fees, HAWX is cheaper at 0.35% per year. On volatility, BUFI has been the lower-risk option at 2.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HAWX has performed better with a 35.93% return vs 13.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HAWX is cheaper with a 0.35% expense ratio, compared with 0.69% for BUFI.
HAWX has the higher dividend yield at 2.41%, compared with 0.00% for BUFI.
HAWX is categorized as Foreign Large Cap Equities, while BUFI is Defined Outcome. They also come from different issuers: iShares and AllianceBernstein. Their fees differ too: 0.35% for HAWX and 0.69% for BUFI.
HAWX currently has the higher Sharpe Ratio (2.53 vs 1.54), 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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