HAWX vs. IWM
Compare and contrast key facts about iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and iShares Russell 2000 ETF (IWM).
HAWX and IWM 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. IWM is a passively managed fund by iShares that tracks the performance of the Russell 2000 Index. It was launched on May 22, 2000. Both HAWX and IWM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
HAWX vs. IWM - Performance Comparison
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HAWX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 3.57% | 26.24% | 14.88% | 17.05% | -8.59% | 13.40% | 6.92% | 22.75% | -9.77% | 19.21% |
IWM iShares Russell 2000 ETF | 0.93% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 14.58% |
Returns By Period
In the year-to-date period, HAWX achieves a 3.57% return, which is significantly higher than IWM's 0.93% return. Over the past 10 years, HAWX has outperformed IWM with an annualized return of 11.24%, while IWM has yielded a comparatively lower 9.76% annualized return.
HAWX
- 1D
- 2.38%
- 1M
- -5.92%
- YTD
- 3.57%
- 6M
- 9.86%
- 1Y
- 25.94%
- 3Y*
- 17.89%
- 5Y*
- 10.95%
- 10Y*
- 11.24%
IWM
- 1D
- 3.50%
- 1M
- -4.96%
- YTD
- 0.93%
- 6M
- 3.02%
- 1Y
- 25.66%
- 3Y*
- 12.94%
- 5Y*
- 3.34%
- 10Y*
- 9.76%
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HAWX vs. IWM - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is higher than IWM's 0.19% expense ratio.
Return for Risk
HAWX vs. IWM — Risk / Return Rank
HAWX
IWM
HAWX vs. IWM - 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 Russell 2000 ETF (IWM). 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.
| HAWX | IWM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.72 | 1.11 | +0.61 |
Sortino ratioReturn per unit of downside risk | 2.31 | 1.66 | +0.65 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.82 | +0.45 |
Martin ratioReturn relative to average drawdown | 9.61 | 6.76 | +2.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HAWX | IWM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.11 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.15 | +0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.43 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.34 | +0.26 |
Correlation
The correlation between HAWX and IWM is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HAWX vs. IWM - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.71%, more than IWM's 1.02% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.71% | 2.80% | 3.31% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% |
IWM iShares Russell 2000 ETF | 1.02% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Drawdowns
HAWX vs. IWM - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for HAWX and IWM.
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Drawdown Indicators
| HAWX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -59.05% | +28.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -13.74% | +2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -17.47% | -31.91% | +14.44% |
Max Drawdown (10Y)Largest decline over 10 years | -30.63% | -41.13% | +10.50% |
Current DrawdownCurrent decline from peak | -6.37% | -7.91% | +1.54% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -10.83% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 3.70% | -1.06% |
Volatility
HAWX vs. IWM - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is 6.92%, while iShares Russell 2000 ETF (IWM) has a volatility of 7.47%. This indicates that HAWX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAWX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 7.47% | -0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 14.47% | -4.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 23.18% | -8.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 22.55% | -9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.08% | 22.99% | -7.91% |