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IDHQ vs. DBAW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IDHQ vs. DBAW

Last updated Jun 4, 2026

IDHQ (Invesco S&P International Developed High Quality ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both Foreign Large Cap Equities funds - IDHQ tracks the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index while DBAW tracks the MSCI ACWI ex USA US Dollar Hedged Index. Both are passively managed. Over the past 10 years, IDHQ returned 9.90%/yr vs 11.44%/yr for DBAW. A 0.74 correlation means they provide meaningful diversification when combined. IDHQ charges 0.29%/yr vs 0.41%/yr for DBAW.

Performance

IDHQ vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P International Developed High Quality ETF (IDHQ) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IDHQ achieves a 18.47% return, which is significantly higher than DBAW's 16.12% return. Over the past 10 years, IDHQ has underperformed DBAW with an annualized return of 9.90%, while DBAW has yielded a comparatively higher 11.44% annualized return.

IDHQ

1D
-0.67%
1M
7.43%
YTD
18.47%
6M
20.13%
1Y
30.97%
3Y*
18.48%
5Y*
8.61%
10Y*
9.90%

DBAW

1D
-0.51%
1M
6.28%
YTD
16.12%
6M
18.39%
1Y
36.60%
3Y*
21.15%
5Y*
11.32%
10Y*
11.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IDHQ vs. DBAW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IDHQ
Invesco S&P International Developed High Quality ETF		18.47%27.46%1.33%18.80%-20.23%11.38%16.09%29.58%-13.38%28.16%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		16.12%26.47%14.35%16.26%-13.35%13.08%7.44%22.96%-10.38%18.79%

Correlation

The correlation between IDHQ and DBAW is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

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

0.82

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

0.84

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

0.78

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2014

0.74

The correlation between IDHQ and DBAW has been stable across timeframes, ranging from 0.74 to 0.84 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

Invesco S&P International Developed High Quality ETF

Xtrackers MSCI All World ex US Hedged Equity ETF

Often compared with IDHQ:
IDHQ vs. IDMOIDHQ vs. VIGIIDHQ vs. INTFIDHQ vs. BKIEIDHQ vs. SPYIDHQ vs. FNDFIDHQ vs. SCHF
Often compared with DBAW:
DBAW vs. HAWXDBAW vs. HFXIDBAW vs. GSIEDBAW vs. MDIJXDBAW vs. BROIXDBAW vs. BKIEDBAW vs. DXJ

Return for Risk

IDHQ vs. DBAW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IDHQ
IDHQ Risk / Return Rank: 4949
Overall Rank
IDHQ Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IDHQ Sortino Ratio Rank: 5050
Sortino Ratio Rank
IDHQ Omega Ratio Rank: 4848
Omega Ratio Rank
IDHQ Calmar Ratio Rank: 4646
Calmar Ratio Rank
IDHQ Martin Ratio Rank: 5353
Martin Ratio Rank
DBAW
DBAW Risk / Return Rank: 8484
Overall Rank
DBAW Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8686
Sortino Ratio Rank
DBAW Omega Ratio Rank: 8787
Omega Ratio Rank
DBAW Calmar Ratio Rank: 7979
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8383
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.

IDHQ vs. DBAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P International Developed High Quality ETF (IDHQ) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

IDHQDBAWDifference

Sharpe ratio

Return per unit of total volatility

1.68

2.86

-1.18

Sortino ratio

Return per unit of downside risk

2.47

3.90

-1.44

Omega ratio

Gain probability vs. loss probability

1.31

1.55

-0.24

Calmar ratio

Return relative to maximum drawdown

2.31

4.09

-1.77

Martin ratio

Return relative to average drawdown

9.23

16.97

-7.74

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDHQ vs. DBAW - Sharpe Ratio Comparison

The current IDHQ Sharpe Ratio is 1.68, which is lower than the DBAW Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of IDHQ and DBAW, 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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Sharpe Ratios by Period

IDHQDBAWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.68

2.86

-1.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.83

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.75

-0.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.63

-0.42

Drawdowns

IDHQ vs. DBAW - Drawdown Comparison

The maximum IDHQ drawdown since its inception was -73.84%, which is greater than DBAW's maximum drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for IDHQ and DBAW.

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Drawdown Indicators

IDHQDBAWDifference

Max Drawdown

Largest peak-to-trough decline

-73.84%

-31.44%

-42.40%

Max Drawdown (1Y)

Largest decline over 1 year

-13.44%

-9.00%

-4.44%

Max Drawdown (3Y)

Largest decline over 3 years

-14.07%

-14.11%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-33.54%

-17.87%

-15.67%

Max Drawdown (10Y)

Largest decline over 10 years

-33.54%

-31.44%

-2.10%

Current Drawdown

Current decline from peak

-0.96%

-0.51%

-0.45%

Average Drawdown

Average peak-to-trough decline

-21.20%

-5.00%

-16.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

2.16%

+1.21%

Volatility

IDHQ vs. DBAW - Volatility Comparison

Invesco S&P International Developed High Quality ETF (IDHQ) has a higher volatility of 7.57% compared to Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) at 4.71%. This indicates that IDHQ's price experiences larger fluctuations and is considered to be riskier than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IDHQDBAWDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.57%

4.71%

+2.86%

Volatility (6M)

Calculated over the trailing 6-month period

16.39%

11.00%

+5.39%

Volatility (1Y)

Calculated over the trailing 1-year period

18.55%

12.88%

+5.67%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.39%

13.74%

+3.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.93%

15.28%

+2.65%

IDHQ vs. DBAW - Expense Ratio Comparison

IDHQ has a 0.29% expense ratio, which is lower than DBAW's 0.41% expense ratio.

Dividends

IDHQ vs. DBAW - Dividend Comparison

IDHQ's dividend yield for the trailing twelve months is around 2.04%, less than DBAW's 3.29% yield.

PositionTTM20252024202320222021202020192018201720162015
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		3.29%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%
IDHQ
Invesco S&P International Developed High Quality ETF		2.04%2.46%2.41%2.52%3.33%2.10%1.60%2.10%2.67%1.68%2.36%1.71%

Frequently Asked Questions

IDHQ and DBAW have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IDHQ has higher volatility (7.57%) compared to DBAW (4.71%). In terms of maximum drawdown, IDHQ dropped -73.84% vs DBAW's -31.44%.

On 10-year performance, DBAW leads with 11.44% vs 9.90% for IDHQ. On fees, IDHQ is cheaper at 0.29% per year. On volatility, DBAW has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DBAW has performed better with a 11.44% return vs 9.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IDHQ is cheaper with a 0.29% expense ratio, compared with 0.41% for DBAW.

DBAW has the higher dividend yield at 3.29%, compared with 2.04% for IDHQ.

IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index, while DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index. They also come from different issuers: Invesco and Deutsche Bank. Their fees differ too: 0.29% for IDHQ and 0.41% for DBAW.

DBAW currently has the higher Sharpe Ratio (2.86 vs 1.68), 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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