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HDV vs. ACWI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDV vs. ACWI

Last updated Jun 23, 2026

HDV (iShares Core High Dividend ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, HDV returned 9.31%/yr vs 13.32%/yr for ACWI. A 0.71 correlation means they provide meaningful diversification when combined. HDV charges 0.08%/yr vs 0.32%/yr for ACWI.

Performance

HDV vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core High Dividend ETF (HDV) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with HDV having a 12.57% return and ACWI slightly lower at 12.10%. Over the past 10 years, HDV has underperformed ACWI with an annualized return of 9.31%, while ACWI has yielded a comparatively higher 13.32% annualized return.

HDV

1D
0.15%
1M
-2.65%
YTD
12.57%
6M
12.67%
1Y
19.54%
3Y*
14.97%
5Y*
10.90%
10Y*
9.31%

ACWI

1D
-0.10%
1M
1.68%
YTD
12.10%
6M
11.90%
1Y
29.31%
3Y*
20.81%
5Y*
11.34%
10Y*
13.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDV vs. ACWI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDV
iShares Core High Dividend ETF		12.57%11.90%14.16%1.72%7.05%19.45%-6.48%20.22%-3.01%13.40%
ACWI
iShares MSCI ACWI ETF		12.10%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%

Correlation

The correlation between HDV and ACWI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.16

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

0.37

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

0.54

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

0.64

Correlation (All Time)
Calculated using the full available price history since Mar 31, 2011

0.71

Over the past year, the correlation between HDV and ACWI has dropped to 0.16 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.

HDV vs. ACWI - Sectors Allocation Comparison

Sectors
HDV
ACWI

Consumer Defensive

24.5%
4.7%

Healthcare

22.6%
7.7%

Energy

20.2%
3.6%

Consumer Cyclical

9.2%
8.6%

Utilities

8.1%
2.7%

Communication Services

5.7%
8.0%

Financial Services

4.7%
15.9%

Industrials

3.5%
10.3%

Basic Materials

0.8%
3.6%

Technology

0.2%
33.0%

Real Estate

-

1.6%

Consumer Defensive

HDV
24.5%
ACWI
4.7%

Healthcare

HDV
22.6%
ACWI
7.7%

Energy

HDV
20.2%
ACWI
3.6%

Consumer Cyclical

HDV
9.2%
ACWI
8.6%

Utilities

HDV
8.1%
ACWI
2.7%

Communication Services

HDV
5.7%
ACWI
8.0%

Financial Services

HDV
4.7%
ACWI
15.9%

Industrials

HDV
3.5%
ACWI
10.3%

Basic Materials

HDV
0.8%
ACWI
3.6%

Technology

HDV
0.2%
ACWI
33.0%

Real Estate

HDV

-

ACWI
1.6%

Compare stocks, funds, or ETFs

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

iShares Core High Dividend ETF

iShares MSCI ACWI ETF

Often compared with HDV:
HDV vs. SCHDHDV vs. VYMHDV vs. SPYDHDV vs. DGROHDV vs. DVYHDV vs. VIGHDV vs. SPY
Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI

Return for Risk

HDV vs. ACWI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDV
HDV Risk / Return Rank: 6464
Overall Rank
HDV Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
HDV Sortino Ratio Rank: 6666
Sortino Ratio Rank
HDV Omega Ratio Rank: 5757
Omega Ratio Rank
HDV Calmar Ratio Rank: 7777
Calmar Ratio Rank
HDV Martin Ratio Rank: 6060
Martin Ratio Rank
ACWI
ACWI Risk / Return Rank: 6969
Overall Rank
ACWI Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6868
Sortino Ratio Rank
ACWI Omega Ratio Rank: 7070
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6363
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7373
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.

HDV vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core High Dividend ETF (HDV) and iShares MSCI ACWI ETF (ACWI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

HDVACWIDifference
Sharpe ratioReturn per unit of total volatility
1.99
2.18

-0.19

Sortino ratioReturn per unit of downside risk
2.92
2.99

-0.07

Omega ratioGain probability vs. loss probability

1.34

1.40

-0.06

Calmar ratioReturn relative to maximum drawdown

3.79

3.03

+0.76

Martin ratioReturn relative to average drawdown

10.39

13.22

-2.83

HDV vs. ACWI - Sharpe Ratio Comparison

The current HDV Sharpe Ratio is 1.99, which is comparable to the ACWI Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of HDV and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HDV vs. ACWI - Drawdown Comparison

The maximum HDV drawdown since its inception was -37.04%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for HDV and ACWI.

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Drawdown Indicators

HDVACWIDifference

Max Drawdown

Largest peak-to-trough decline

-37.04%

-56.00%

+18.96%

Max Drawdown (1Y)

Largest decline over 1 year

-5.18%

-9.73%

+4.55%

Max Drawdown (3Y)

Largest decline over 3 years

-10.49%

-16.55%

+6.06%

Max Drawdown (5Y)

Largest decline over 5 years

-15.42%

-26.42%

+11.00%

Max Drawdown (10Y)

Largest decline over 10 years

-37.04%

-33.53%

-3.51%

Current Drawdown

Current decline from peak

-2.65%

-0.85%

-1.80%

Average Drawdown

Average peak-to-trough decline

-3.08%

-8.59%

+5.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.89%

2.22%

-0.33%

Volatility

HDV vs. ACWI - Volatility Comparison

The current volatility for iShares Core High Dividend ETF (HDV) is 3.37%, while iShares MSCI ACWI ETF (ACWI) has a volatility of 5.16%. This indicates that HDV experiences smaller price fluctuations and is considered to be less risky than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDVACWIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.37%

5.16%

-1.79%

Volatility (6M)

Calculated over the trailing 6-month period

7.52%

11.20%

-3.68%

Volatility (1Y)

Calculated over the trailing 1-year period

9.87%

13.50%

-3.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.80%

16.17%

-3.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.74%

17.15%

-1.41%

HDV vs. ACWI - Expense Ratio Comparison

HDV has a 0.08% expense ratio, which is lower than ACWI's 0.32% expense ratio.

Dividends

HDV vs. ACWI - Dividend Comparison

HDV's dividend yield for the trailing twelve months is around 2.94%, more than ACWI's 1.42% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.42%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
HDV
iShares Core High Dividend ETF		2.94%3.22%3.67%3.82%3.56%3.47%4.07%3.27%3.67%3.27%3.28%3.92%

Frequently Asked Questions

HDV and ACWI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ACWI has higher volatility (5.16%) compared to HDV (3.37%). In terms of maximum drawdown, HDV dropped -37.04% vs ACWI's -56.00%.

On 10-year performance, ACWI leads with 13.32% vs 9.31% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 13.32% return vs 9.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HDV is cheaper with a 0.08% expense ratio, compared with 0.32% for ACWI.

HDV has the higher dividend yield at 2.94%, compared with 1.42% for ACWI.

HDV is categorized as Dividend, while ACWI is Global Equities. HDV tracks Morningstar Dividend Yield Focus Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.08% for HDV and 0.32% for ACWI.

ACWI currently has the higher Sharpe Ratio (2.18 vs 1.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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