PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HDAW vs. HDEF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDAW vs. HDEF

Last updated Jun 5, 2026

HDAW (Xtrackers MSCI All World ex US High Dividend Yield Equity ETF) and HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) are both Foreign Large Cap Equities funds from Deutsche Bank - HDAW tracks the MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index while HDEF tracks the MSCI EAFE High Dividend Yield US Dollar Hedged Index. Both are passively managed. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

HDAW vs. HDEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All World ex US High Dividend Yield Equity ETF (HDAW) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

HDAW

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

HDEF

1D
0.84%
1M
-1.49%
YTD
4.87%
6M
7.11%
1Y
16.55%
3Y*
16.85%
5Y*
10.01%
10Y*
8.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDAW vs. HDEF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDAW
Xtrackers MSCI All World ex US High Dividend Yield Equity ETF		0.00%0.00%6.53%16.58%-5.74%9.73%-3.67%22.40%-13.63%13.22%
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		4.87%33.01%2.85%18.53%-2.51%6.95%-1.90%25.02%-13.74%9.89%

Correlation

The correlation between HDAW and HDEF is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Aug 19, 2015

0.67

The correlation between HDAW and HDEF shifts across timeframes, from 0.46 (3 years) to 0.70 (10 years), reflecting how their relationship changes across market environments.

HDAW vs. HDEF - Sectors Allocation Comparison

Sectors
HDAW
HDEF

Financial Services

25.2%
26.9%

Basic Materials

12.4%
0.7%

Healthcare

12.3%
14.0%

Consumer Defensive

10.1%
17.9%

Energy

9.1%
13.8%

Consumer Cyclical

7.5%
3.9%

Industrials

6.6%
8.8%

Technology

6.3%
0.6%

Communication Services

4.7%
4.0%

Utilities

4.0%
8.4%

Real Estate

1.8%
0.9%

Financial Services

HDAW
25.2%
HDEF
26.9%

Basic Materials

HDAW
12.4%
HDEF
0.7%

Healthcare

HDAW
12.3%
HDEF
14.0%

Consumer Defensive

HDAW
10.1%
HDEF
17.9%

Energy

HDAW
9.1%
HDEF
13.8%

Consumer Cyclical

HDAW
7.5%
HDEF
3.9%

Industrials

HDAW
6.6%
HDEF
8.8%

Technology

HDAW
6.3%
HDEF
0.6%

Communication Services

HDAW
4.7%
HDEF
4.0%

Utilities

HDAW
4.0%
HDEF
8.4%

Real Estate

HDAW
1.8%
HDEF
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers MSCI All World ex US High Dividend Yield Equity ETF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF

Often compared with HDAW:
HDAW vs. SCHDHDAW vs. VYMIHDAW vs. DIVOHDAW vs. WDIVHDAW vs. IDVHDAW vs. VOOHDAW vs. JEPI
Often compared with HDEF:
HDEF vs. VYMIHDEF vs. EFVHDEF vs. SCHYHDEF vs. SCHDHDEF vs. BBINHDEF vs. BKHYHDEF vs. SPDW

Return for Risk

HDAW vs. HDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDAW
HDEF
HDEF Risk / Return Rank: 4141
Overall Rank
HDEF Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
HDEF Sortino Ratio Rank: 4040
Sortino Ratio Rank
HDEF Omega Ratio Rank: 4141
Omega Ratio Rank
HDEF Calmar Ratio Rank: 4343
Calmar Ratio Rank
HDEF Martin Ratio Rank: 4141
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HDAW vs. HDEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US High Dividend Yield Equity ETF (HDAW) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

HDAW vs. HDEF - Sharpe Ratio Comparison

Loading charts...

Sharpe Ratios by Period

HDAWHDEFDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.42

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.71

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.53

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.45

—

Drawdowns

HDAW vs. HDEF - Drawdown Comparison

Loading charts...

Drawdown Indicators

HDAWHDEFDifference

Max Drawdown

Largest peak-to-trough decline

—

-36.43%

—

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.03%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-11.15%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-23.63%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.43%

—

Current Drawdown

Current decline from peak

—

-4.89%

—

Average Drawdown

Average peak-to-trough decline

—

-5.04%

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.61%

—

Volatility

HDAW vs. HDEF - Volatility Comparison

Loading charts...

Volatility by Period

HDAWHDEFDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.72%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

9.22%

—

Volatility (1Y)

Calculated over the trailing 1-year period

—

11.68%

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

—

14.14%

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

—

16.24%

—

HDAW vs. HDEF - Expense Ratio Comparison

Both HDAW and HDEF have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HDAW vs. HDEF - Dividend Comparison

HDAW has not paid dividends to shareholders, while HDEF's dividend yield for the trailing twelve months is around 3.62%.

PositionTTM20252024202320222021202020192018201720162015
HDAW
Xtrackers MSCI All World ex US High Dividend Yield Equity ETF		0.00%0.00%2.68%4.85%7.00%4.84%4.27%3.95%4.02%4.09%2.92%1.18%
HDEF
Xtrackers MSCI EAFE High Dividend Yield Equity ETF		3.62%3.88%4.53%4.38%5.41%4.76%3.93%4.20%3.55%3.38%9.53%1.87%

Frequently Asked Questions

HDAW and HDEF have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

HDAW and HDEF have the same expense ratio: 0.20% per year.

HDEF has the higher dividend yield at 3.62%, compared with 0.00% for HDAW.

HDAW tracks MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index, while HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index.

Portfolio Optimizer

Find the right allocation for HDAW and HDEF

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