HDAW vs. HDEF

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers MSCI All World ex US High Dividend Yield Equity ETF (HDAW) and Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF).

HDAW and HDEF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HDAW is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index. It was launched on Aug 12, 2015. HDEF is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI EAFE High Dividend Yield US Dollar Hedged Index. It was launched on Aug 12, 2015. Both HDAW and HDEF 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

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.

HDAW vs. HDEF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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	5.06%	33.01%	2.85%	18.53%	-2.51%	6.95%	-1.90%	25.02%	-13.74%	9.89%

Returns By Period

HDAW

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

HDEF

• 1D: 1.98%
• 1M: -4.72%
• YTD: 5.06%
• 6M: 11.32%
• 1Y: 24.25%
• 3Y*: 16.72%
• 5Y*: 11.17%
• 10Y*: 8.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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%.

HDAW

Xtrackers MSCI All World ex US High Dividend Yield Equity ETF

HDEF

Xtrackers MSCI EAFE High Dividend Yield Equity ETF

Return for Risk

HDAW vs. HDEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDEF

HDEF Risk / Return Rank: 86
HDEF Sharpe Ratio Rank: 85
HDEF Sortino Ratio Rank: 86
HDEF Omega Ratio Rank: 88
HDEF Calmar Ratio Rank: 86
HDEF Martin Ratio Rank: 86

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.

Sharpe Ratios by Period

	HDAW	HDEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.68	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.46	—

Correlation

The correlation between HDAW and HDEF is 0.68, 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

HDAW vs. HDEF - Dividend Comparison

HDAW has not paid dividends to shareholders, while HDEF's dividend yield for the trailing twelve months is around 3.61%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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	3.61%	3.88%	4.53%	4.38%	5.41%	4.76%	3.93%	4.20%	3.55%	3.38%	9.53%	1.87%

Drawdowns

Drawdown Indicators

	HDAW	HDEF	Difference
Max Drawdown Largest peak-to-trough decline	—	-36.43%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.32%	—
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	—	-4.72%	—
Average Drawdown Average peak-to-trough decline	—	-5.07%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.42%	—

Volatility

Volatility by Period

	HDAW	HDEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	14.54%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	14.10%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.21%	—