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HDAW vs. IDEV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDAW vs. IDEV

Last updated Jun 5, 2026

HDAW (Xtrackers MSCI All World ex US High Dividend Yield Equity ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds - HDAW tracks the MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index while IDEV tracks the MSCI World ex USA Investable Market Index. Both are passively managed. A 0.72 correlation means they provide meaningful diversification when combined. HDAW charges 0.20%/yr vs 0.05%/yr for IDEV.

Performance

HDAW vs. IDEV - 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 iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

HDAW

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

IDEV

1D
0.80%
1M
2.86%
YTD
9.80%
6M
12.08%
1Y
23.60%
3Y*
17.92%
5Y*
8.66%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDAW vs. IDEV - 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%7.87%
IDEV
iShares Core MSCI International Developed Markets ETF		9.80%32.56%4.54%17.36%-14.99%13.00%8.32%23.12%-14.10%17.29%

Correlation

The correlation between HDAW and IDEV is 0.72, 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

0.42

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

0.65

Correlation (All Time)
Calculated using the full available price history since Mar 24, 2017

0.72

The correlation between HDAW and IDEV shifts across timeframes, from 0.42 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.

HDAW vs. IDEV - Sectors Allocation Comparison

Sectors
HDAW
IDEV

Financial Services

25.2%
24.2%

Basic Materials

12.4%
8.0%

Healthcare

12.3%
8.6%

Consumer Defensive

10.1%
6.0%

Energy

9.1%
5.9%

Consumer Cyclical

7.5%
7.7%

Industrials

6.6%
19.1%

Technology

6.3%
9.9%

Communication Services

4.7%
4.0%

Utilities

4.0%
3.7%

Real Estate

1.8%
2.9%

Financial Services

HDAW
25.2%
IDEV
24.2%

Basic Materials

HDAW
12.4%
IDEV
8.0%

Healthcare

HDAW
12.3%
IDEV
8.6%

Consumer Defensive

HDAW
10.1%
IDEV
6.0%

Energy

HDAW
9.1%
IDEV
5.9%

Consumer Cyclical

HDAW
7.5%
IDEV
7.7%

Industrials

HDAW
6.6%
IDEV
19.1%

Technology

HDAW
6.3%
IDEV
9.9%

Communication Services

HDAW
4.7%
IDEV
4.0%

Utilities

HDAW
4.0%
IDEV
3.7%

Real Estate

HDAW
1.8%
IDEV
2.9%

Compare stocks, funds, or ETFs

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Xtrackers MSCI All World ex US High Dividend Yield Equity ETF

iShares Core MSCI International Developed Markets ETF

Often compared with HDAW:
HDAW vs. SCHDHDAW vs. VYMIHDAW vs. DIVOHDAW vs. WDIVHDAW vs. IDVHDAW vs. VOOHDAW vs. JEPI
Often compared with IDEV:
IDEV vs. VYMIIDEV vs. VEAIDEV vs. IEFAIDEV vs. IXUSIDEV vs. SCHFIDEV vs. FDEVIDEV vs. VEU

Return for Risk

HDAW vs. IDEV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDAW
IDEV
IDEV Risk / Return Rank: 4747
Overall Rank
IDEV Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IDEV Sortino Ratio Rank: 4848
Sortino Ratio Rank
IDEV Omega Ratio Rank: 4848
Omega Ratio Rank
IDEV Calmar Ratio Rank: 4343
Calmar Ratio Rank
IDEV Martin Ratio Rank: 5050
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. IDEV - 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 iShares Core MSCI International Developed Markets ETF (IDEV). 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. IDEV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

HDAWIDEVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.63

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.54

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.55

—

Drawdowns

HDAW vs. IDEV - Drawdown Comparison

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Drawdown Indicators

HDAWIDEVDifference

Max Drawdown

Largest peak-to-trough decline

—

-34.77%

—

Max Drawdown (1Y)

Largest decline over 1 year

—

-11.20%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-13.41%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-29.15%

—

Current Drawdown

Current decline from peak

—

-0.19%

—

Average Drawdown

Average peak-to-trough decline

—

-6.56%

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.85%

—

Volatility

HDAW vs. IDEV - Volatility Comparison

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Volatility by Period

HDAWIDEVDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.53%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

12.12%

—

Volatility (1Y)

Calculated over the trailing 1-year period

—

14.50%

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

—

16.26%

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

—

17.27%

—

HDAW vs. IDEV - Expense Ratio Comparison

HDAW has a 0.20% expense ratio, which is higher than IDEV's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HDAW vs. IDEV - Dividend Comparison

HDAW has not paid dividends to shareholders, while IDEV's dividend yield for the trailing twelve months is around 3.10%.

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%
IDEV
iShares Core MSCI International Developed Markets ETF		3.10%3.40%3.30%3.07%2.69%3.05%2.00%3.18%3.16%1.54%0.00%0.00%

Frequently Asked Questions

HDAW and IDEV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IDEV is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IDEV is cheaper with a 0.05% expense ratio, compared with 0.20% for HDAW.

IDEV has the higher dividend yield at 3.10%, compared with 0.00% for HDAW.

HDAW tracks MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index, while IDEV tracks MSCI World ex USA Investable Market Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.20% for HDAW and 0.05% for IDEV.

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