HAWX vs. BUFIX
HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) and BUFIX (Buffalo International Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, HAWX returned 12.00%/yr vs 9.84%/yr for BUFIX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. HAWX charges 0.35%/yr vs 1.03%/yr for BUFIX.
Performance
HAWX vs. BUFIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HAWX having a 15.28% return and BUFIX slightly lower at 15.10%. Over the past 10 years, HAWX has outperformed BUFIX with an annualized return of 12.00%, while BUFIX has yielded a comparatively lower 9.84% annualized return.
HAWX
- 1D
- 0.04%
- 1M
- -0.89%
- 6M
- 10.23%
- YTD
- 15.28%
- 1Y
- 32.19%
- 3Y*
- 19.74%
- 5Y*
- 12.97%
- 10Y*
- 12.00%
- ALL TIME*
- 9.95%
BUFIX
- 1D
- 3.23%
- 1M
- -2.38%
- 6M
- 9.56%
- YTD
- 15.10%
- 1Y
- 20.65%
- 3Y*
- 10.10%
- 5Y*
- 4.67%
- 10Y*
- 9.84%
- ALL TIME*
- 6.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $915.14K | $1.65M | $1.22M |
HAWX vs. BUFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 15.28% | 26.24% | 14.88% | 17.05% | -8.59% | 13.40% | 6.92% | 22.75% | -9.77% | 19.21% |
BUFIX Buffalo International Fund | 15.10% | 17.09% | -1.90% | 18.33% | -21.80% | 18.20% | 19.10% | 28.01% | -8.85% | 29.33% |
Correlation
The correlation between HAWX and BUFIX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2015 | 0.76 |
The correlation between HAWX and BUFIX shifts across timeframes, from 0.76 (all time) to 0.88 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HAWX vs. BUFIX — Risk / Return Rank
HAWX
BUFIX
HAWX vs. BUFIX - 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 Buffalo International Fund (BUFIX). 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 | BUFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.18 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 1.43 | +1.82 |
| Martin ratioReturn relative to average drawdown | 12.19 | 4.81 | +7.38 |
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Drawdowns
HAWX vs. BUFIX - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, smaller than the maximum BUFIX drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for HAWX and BUFIX.
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Drawdown Indicators
| HAWX | BUFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -55.09% | +24.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -12.85% | +3.46% |
Max Drawdown (3Y)Largest decline over 3 years | -13.30% | -15.52% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -17.47% | -34.93% | +17.46% |
Max Drawdown (10Y)Largest decline over 10 years | -30.63% | -34.93% | +4.30% |
Current DrawdownCurrent decline from peak | -3.65% | -5.04% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -9.12% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 3.83% | -1.32% |
Volatility
HAWX vs. BUFIX - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is 4.89%, while Buffalo International Fund (BUFIX) has a volatility of 6.64%. This indicates that HAWX experiences smaller price fluctuations and is considered to be less risky than BUFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAWX | BUFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 6.64% | -1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 13.25% | 18.16% | -4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 20.17% | -5.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.69% | 18.20% | -4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 17.62% | -2.32% |
HAWX vs. BUFIX - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is lower than BUFIX's 1.03% expense ratio.
Dividends
HAWX vs. BUFIX - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.51%, more than BUFIX's 0.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFIX Buffalo International Fund | 0.74% | 0.85% | 0.84% | 0.59% | 1.85% | 1.20% | 0.28% | 0.57% | 2.42% | 0.36% | 0.00% | 0.51% |
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.51% | 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 BUFIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFIX has higher volatility (6.64%) compared to HAWX (4.89%). In terms of maximum drawdown, HAWX dropped -30.63% vs BUFIX's -55.09%.
HAWX currently has the higher Sharpe Ratio (2.05 vs 0.92), 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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