HAWX vs. SPY
Compare and contrast key facts about iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and SPDR S&P 500 ETF (SPY).
HAWX and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both HAWX and SPY 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 SPY.
Key characteristics
| HAWX | SPY | |
|---|---|---|
| YTD Return | 9.66% | 9.02% |
| 1Y Return | 17.27% | 27.00% |
| 3Y Return (Ann) | 6.64% | 8.59% |
| 5Y Return (Ann) | 9.23% | 14.29% |
| Sharpe Ratio | 1.94 | 2.52 |
| Daily Std Dev | 9.70% | 11.53% |
| Max Drawdown | -30.64% | -55.19% |
| Current Drawdown | 0.00% | -1.26% |
Correlation
The correlation between HAWX and SPY is 0.72, 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.
Performance
HAWX vs. SPY - Performance Comparison
In the year-to-date period, HAWX achieves a 9.66% return, which is significantly higher than SPY's 9.02% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
HAWX vs. SPY - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
HAWX vs. SPY - 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 SPDR S&P 500 ETF (SPY). 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. SPY - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.69%, more than SPY's 1.30% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF | 2.69% | 2.95% | 16.94% | 2.63% | 2.00% | 3.23% | 2.51% | 2.40% | 2.49% | 3.86% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.30% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
HAWX vs. SPY - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.64%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for HAWX and SPY. For additional features, visit the drawdowns tool.
Volatility
HAWX vs. SPY - Volatility Comparison
The current volatility for iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) is 2.91%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.07%. This indicates that HAWX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.