HAWX vs. JDESX
Compare and contrast key facts about iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and JPMorgan U.S. Research Enhanced Equity Fund (JDESX).
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. JDESX is managed by JPMorgan. It was launched on Sep 10, 2001.
Performance
HAWX vs. JDESX - Performance Comparison
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HAWX vs. JDESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 4.90% | 26.24% | 14.88% | 17.05% | -8.59% | 13.40% | 6.92% | 22.75% | -9.77% | 19.21% |
JDESX JPMorgan U.S. Research Enhanced Equity Fund | -4.98% | 16.33% | 31.02% | 28.23% | -18.15% | 30.35% | 20.65% | 31.16% | -5.53% | 21.49% |
Returns By Period
In the year-to-date period, HAWX achieves a 4.90% return, which is significantly higher than JDESX's -4.98% return. Over the past 10 years, HAWX has underperformed JDESX with an annualized return of 11.38%, while JDESX has yielded a comparatively higher 14.71% annualized return.
HAWX
- 1D
- 1.28%
- 1M
- -3.91%
- YTD
- 4.90%
- 6M
- 10.51%
- 1Y
- 27.48%
- 3Y*
- 18.39%
- 5Y*
- 11.23%
- 10Y*
- 11.38%
JDESX
- 1D
- 2.89%
- 1M
- -5.28%
- YTD
- -4.98%
- 6M
- -2.90%
- 1Y
- 15.81%
- 3Y*
- 19.78%
- 5Y*
- 12.85%
- 10Y*
- 14.71%
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HAWX vs. JDESX - Expense Ratio Comparison
Both HAWX and JDESX have an expense ratio of 0.35%.
Return for Risk
HAWX vs. JDESX — Risk / Return Rank
HAWX
JDESX
HAWX vs. JDESX - 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 JPMorgan U.S. Research Enhanced Equity Fund (JDESX). 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 | JDESX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 0.89 | +0.93 |
Sortino ratioReturn per unit of downside risk | 2.43 | 1.38 | +1.05 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.21 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.39 | +1.08 |
Martin ratioReturn relative to average drawdown | 10.37 | 6.44 | +3.93 |
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 | JDESX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 0.89 | +0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.69 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.75 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.43 | +0.18 |
Correlation
The correlation between HAWX and JDESX is 0.71, 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.
Dividends
HAWX vs. JDESX - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.67%, less than JDESX's 5.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.67% | 2.80% | 3.31% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% |
JDESX JPMorgan U.S. Research Enhanced Equity Fund | 5.61% | 5.33% | 11.20% | 1.23% | 2.79% | 12.94% | 3.89% | 11.29% | 14.15% | 1.39% | 1.40% | 5.56% |
Drawdowns
HAWX vs. JDESX - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, smaller than the maximum JDESX drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for HAWX and JDESX.
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Drawdown Indicators
| HAWX | JDESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -54.56% | +23.93% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -12.19% | +1.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.47% | -31.30% | +13.83% |
Max Drawdown (10Y)Largest decline over 10 years | -30.63% | -34.71% | +4.08% |
Current DrawdownCurrent decline from peak | -5.16% | -6.59% | +1.43% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -11.98% | +7.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.62% | +0.04% |
Volatility
HAWX vs. JDESX - Volatility Comparison
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) has a higher volatility of 6.42% compared to JPMorgan U.S. Research Enhanced Equity Fund (JDESX) at 5.37%. This indicates that HAWX's price experiences larger fluctuations and is considered to be riskier than JDESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HAWX | JDESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 5.37% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 9.33% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.18% | 18.37% | -3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 18.82% | -5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.09% | 19.74% | -4.65% |