HAWX vs. IBIT
HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) and IBIT (iShares Bitcoin Trust 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 IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, HAWX returned 32.57% vs -43.69% for IBIT. Their 0.36 correlation means their historical movements had little consistent relationship. HAWX charges 0.35%/yr vs 0.25%/yr for IBIT.
Performance
HAWX vs. IBIT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HAWX achieves a 15.61% return, which is significantly higher than IBIT's -27.17% return.
HAWX
- 1D
- 0.28%
- 1M
- -0.61%
- 6M
- 9.66%
- YTD
- 15.61%
- 1Y
- 32.57%
- 3Y*
- 20.58%
- 5Y*
- 12.79%
- 10Y*
- 12.07%
- ALL TIME*
- 9.97%
IBIT
- 1D
- 1.46%
- 1M
- 3.70%
- 6M
- -18.23%
- YTD
- -27.17%
- 1Y
- -43.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $978.55K | $1.69M | $1.20M | |
| $1.33B | $1.34B | $1.65B |
HAWX vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 15.61% | 26.24% | 15.36% |
IBIT iShares Bitcoin Trust ETF | -27.17% | -6.41% | 89.87% |
Correlation
The correlation between HAWX and IBIT is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | 0.36 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HAWX vs. IBIT — Risk / Return Rank
HAWX
IBIT
HAWX vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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 | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.19 | ||
| Sortino ratioReturn per unit of downside risk | +4.39 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.84 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | -0.82 | +4.31 |
| Martin ratioReturn relative to average drawdown | 12.99 | -1.26 | +14.25 |
Loading charts...
Drawdowns
HAWX vs. IBIT - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, smaller than the maximum IBIT drawdown of -53.30%. Use the drawdown chart below to compare losses from any high point for HAWX and IBIT.
Loading charts...
Drawdown Indicators
| HAWX | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -53.30% | +22.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -53.30% | +43.91% |
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 | -3.38% | -49.28% | +45.90% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -18.29% | +14.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 34.80% | -32.29% |
Volatility
HAWX vs. IBIT - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is 4.90%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 8.98%. This indicates that HAWX experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HAWX | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 8.98% | -4.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.22% | 33.79% | -20.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 44.48% | -29.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.69% | 49.57% | -35.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.30% | 49.57% | -34.27% |
HAWX vs. IBIT - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
HAWX vs. IBIT - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.50%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.50% | 2.80% | 3.31% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% |
IBIT iShares Bitcoin Trust 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% |
Frequently Asked Questions
HAWX and IBIT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (8.98%) compared to HAWX (4.90%). In terms of maximum drawdown, HAWX dropped -30.63% vs IBIT's -53.30%.
On 1-year performance, HAWX leads with 32.57% vs -43.69% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, HAWX has been the lower-risk option at 4.90%. 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 32.57% return vs -43.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.35% for HAWX.
HAWX has the higher dividend yield at 2.50%, compared with 0.00% for IBIT.
HAWX is categorized as Foreign Large Cap Equities, while IBIT is Cryptocurrency. HAWX tracks MSCI ACWI ex USA 100% Hedged to USD, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.35% for HAWX and 0.25% for IBIT.
HAWX currently has the higher Sharpe Ratio (2.20 vs -0.99), 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.
Find the right allocation for HAWX and IBIT
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