HAWX vs. TBWIX
Compare and contrast key facts about iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) and Thornburg Better World International Fund (TBWIX).
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. TBWIX is managed by Thornburg. It was launched on Sep 30, 2015.
Performance
HAWX vs. TBWIX - Performance Comparison
Loading graphics...
HAWX vs. TBWIX - 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% |
TBWIX Thornburg Better World International Fund | -3.56% | 24.25% | 7.10% | 12.72% | -18.02% | 20.88% | 26.67% | 24.57% | -13.61% | 22.88% |
Returns By Period
In the year-to-date period, HAWX achieves a 4.90% return, which is significantly higher than TBWIX's -3.56% return. Over the past 10 years, HAWX has outperformed TBWIX with an annualized return of 11.38%, while TBWIX has yielded a comparatively lower 9.98% 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%
TBWIX
- 1D
- 2.41%
- 1M
- -7.51%
- YTD
- -3.56%
- 6M
- 0.38%
- 1Y
- 14.65%
- 3Y*
- 10.31%
- 5Y*
- 5.27%
- 10Y*
- 9.98%
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. TBWIX - Expense Ratio Comparison
HAWX has a 0.35% expense ratio, which is lower than TBWIX's 1.21% expense ratio.
Return for Risk
HAWX vs. TBWIX — Risk / Return Rank
HAWX
TBWIX
HAWX vs. TBWIX - 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 Thornburg Better World International Fund (TBWIX). 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 | TBWIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.82 | 0.97 | +0.85 |
Sortino ratioReturn per unit of downside risk | 2.43 | 1.41 | +1.02 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.20 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.14 | +1.33 |
Martin ratioReturn relative to average drawdown | 10.37 | 4.55 | +5.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| HAWX | TBWIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | 0.97 | +0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | 0.30 | +0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.60 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.59 | +0.02 |
Correlation
The correlation between HAWX and TBWIX 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. TBWIX - Dividend Comparison
HAWX's dividend yield for the trailing twelve months is around 2.67%, more than TBWIX's 1.58% 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% |
TBWIX Thornburg Better World International Fund | 1.58% | 1.53% | 1.40% | 1.55% | 0.87% | 15.10% | 0.40% | 1.17% | 10.14% | 3.53% | 5.99% | 0.00% |
Drawdowns
HAWX vs. TBWIX - Drawdown Comparison
The maximum HAWX drawdown since its inception was -30.63%, smaller than the maximum TBWIX drawdown of -40.11%. Use the drawdown chart below to compare losses from any high point for HAWX and TBWIX.
Loading graphics...
Drawdown Indicators
| HAWX | TBWIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.63% | -40.11% | +9.48% |
Max Drawdown (1Y)Largest decline over 1 year | -11.16% | -12.01% | +0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -17.47% | -40.11% | +22.64% |
Max Drawdown (10Y)Largest decline over 10 years | -30.63% | -40.11% | +9.48% |
Current DrawdownCurrent decline from peak | -5.16% | -9.89% | +4.73% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -10.32% | +5.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 3.01% | -0.35% |
Volatility
HAWX vs. TBWIX - Volatility Comparison
iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) has a higher volatility of 6.42% compared to Thornburg Better World International Fund (TBWIX) at 5.69%. This indicates that HAWX's price experiences larger fluctuations and is considered to be riskier than TBWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| HAWX | TBWIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 5.69% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 9.79% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.18% | 15.55% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 17.58% | -4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.09% | 16.78% | -1.69% |