HAWX vs. HEFA
Compare and contrast key facts about iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and iShares Currency Hedged MSCI EAFE ETF (HEFA).
HAWX and HEFA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HAWX is a passively managed fund by iShares that tracks the performance of the MSCI ACWI ex USA 100% Hedged to USD. It was launched on Jun 29, 2015. HEFA is a passively managed fund by iShares that tracks the performance of the MSCI EAFE 100% Hedged to USD Index. It was launched on Jan 31, 2014. Both HAWX and HEFA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HAWX or HEFA.
Performance
HAWX vs. HEFA - Performance Comparison
Returns By Period
In the year-to-date period, HAWX achieves a 13.77% return, which is significantly higher than HEFA's 12.34% return.
HAWX
13.77%
-1.98%
1.37%
18.39%
8.60%
N/A
HEFA
12.34%
-2.05%
-1.28%
16.99%
9.81%
8.59%
Key characteristics
| HAWX | HEFA | |
|---|---|---|
| Sharpe Ratio | 1.69 | 1.54 |
| Sortino Ratio | 2.26 | 2.06 |
| Omega Ratio | 1.31 | 1.28 |
| Calmar Ratio | 1.97 | 1.72 |
| Martin Ratio | 9.38 | 8.07 |
| Ulcer Index | 1.92% | 2.09% |
| Daily Std Dev | 10.70% | 10.92% |
| Max Drawdown | -30.64% | -32.39% |
| Current Drawdown | -3.07% | -2.96% |
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HAWX vs. HEFA - Expense Ratio Comparison
Both HAWX and HEFA have an expense ratio of 0.35%.
Correlation
The correlation between HAWX and HEFA is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
HAWX vs. HEFA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and iShares Currency Hedged MSCI EAFE ETF (HEFA). 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.
Dividends
HAWX vs. HEFA - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.77%, less than HEFA's 2.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.77% | 2.95% | 16.94% | 2.63% | 2.00% | 3.22% | 2.51% | 2.40% | 2.49% | 3.86% | 0.00% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 2.87% | 3.01% | 25.14% | 3.06% | 2.10% | 5.37% | 4.58% | 2.55% | 3.17% | 3.54% | 3.39% |
Drawdowns
HAWX vs. HEFA - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.64%, smaller than the maximum HEFA drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for HAWX and HEFA. For additional features, visit the drawdowns tool.
Volatility
HAWX vs. HEFA - Volatility Comparison
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and iShares Currency Hedged MSCI EAFE ETF (HEFA) have volatilities of 2.96% and 2.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.