IHDG vs. HAWX

Last updated Jun 3, 2026

IHDG (WisdomTree International Hedged Dividend Growth Fund) and HAWX (iShares Currency Hedged MSCI ACWI ex U.S. ETF) are both Foreign Large Cap Equities funds - IHDG tracks the WisdomTree International Hedged Dividend Growth Index while HAWX tracks the MSCI ACWI ex USA 100% Hedged to USD. Both are passively managed. Over the past 10 years, IHDG returned 10.16%/yr vs 12.11%/yr for HAWX. A 0.79 correlation means they provide meaningful diversification when combined. IHDG charges 0.58%/yr vs 0.35%/yr for HAWX.

Performance

IHDG vs. HAWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree International Hedged Dividend Growth Fund (IHDG) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IHDG achieves a 5.97% return, which is significantly lower than HAWX's 16.72% return. Over the past 10 years, IHDG has underperformed HAWX with an annualized return of 10.16%, while HAWX has yielded a comparatively higher 12.11% annualized return.

IHDG

• 1D: 0.59%
• 1M: 3.95%
• YTD: 5.97%
• 6M: 8.44%
• 1Y: 15.83%
• 3Y*: 10.77%
• 5Y*: 7.89%
• 10Y*: 10.16%

HAWX

• 1D: 0.90%
• 1M: 6.04%
• YTD: 16.72%
• 6M: 19.18%
• 1Y: 36.85%
• 3Y*: 21.56%
• 5Y*: 13.02%
• 10Y*: 12.11%

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

IHDG vs. HAWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHDG WisdomTree International Hedged Dividend Growth Fund	5.97%	14.17%	5.97%	20.00%	-11.53%	19.75%	10.51%	33.42%	-12.03%	21.93%
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF	16.72%	26.24%	14.88%	17.05%	-8.59%	13.40%	6.92%	22.75%	-9.77%	19.21%

Correlation

The correlation between IHDG and HAWX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 2, 2015	0.79

The correlation between IHDG and HAWX has been stable across timeframes, ranging from 0.79 to 0.89 - a consistent structural relationship.

IHDG vs. HAWX - Sectors Allocation Comparison

Sectors	IHDG	HAWX
Industrials	19.7%	13.9%
Consumer Cyclical	19.3%	7.3%
Financial Services	15.2%	23.6%
Healthcare	9.4%	6.8%
Technology	7.8%	21.4%
Basic Materials	5.4%	6.6%
Communication Services	4.5%	4.8%
Consumer Defensive	4.3%	5.0%
Energy	3.7%	5.0%
Utilities	0.8%	2.8%
Real Estate	0.3%	1.2%

Return for Risk

IHDG vs. HAWX — Risk / Return Rank

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

IHDG

IHDG Risk / Return Rank: 33
IHDG Sharpe Ratio Rank: 33
IHDG Sortino Ratio Rank: 32
IHDG Omega Ratio Rank: 32
IHDG Calmar Ratio Rank: 31
IHDG Martin Ratio Rank: 36

HAWX

HAWX Risk / Return Rank: 83
HAWX Sharpe Ratio Rank: 85
HAWX Sortino Ratio Rank: 85
HAWX Omega Ratio Rank: 86
HAWX Calmar Ratio Rank: 77
HAWX Martin Ratio Rank: 82

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.

IHDG vs. HAWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree International Hedged Dividend Growth Fund (IHDG) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX). 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.

	IHDG	HAWX	Difference
Sharpe ratio Return per unit of total volatility	1.17	2.85	-1.68
Sortino ratio Return per unit of downside risk	1.73	3.87	-2.14
Omega ratio Gain probability vs. loss probability	1.22	1.54	-0.32
Calmar ratio Return relative to maximum drawdown	1.55	3.99	-2.44
Martin ratio Return relative to average drawdown	5.74	16.82	-11.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHDG vs. HAWX - Sharpe Ratio Comparison

The current IHDG Sharpe Ratio is 1.17, which is lower than the HAWX Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of IHDG and HAWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IHDG	HAWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	2.85	-1.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.98	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.80	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.67	-0.07

Drawdowns

IHDG vs. HAWX - Drawdown Comparison

The maximum IHDG drawdown since its inception was -29.24%, roughly equal to the maximum HAWX drawdown of -30.63%. Use the drawdown chart below to compare losses from any high point for IHDG and HAWX.

Drawdown Indicators

	IHDG	HAWX	Difference
Max Drawdown Largest peak-to-trough decline	-29.24%	-30.63%	+1.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-9.39%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-18.88%	-13.30%	-5.58%
Max Drawdown (5Y) Largest decline over 5 years	-19.52%	-17.47%	-2.05%
Max Drawdown (10Y) Largest decline over 10 years	-29.24%	-30.63%	+1.39%
Current Drawdown Current decline from peak	-0.76%	0.00%	-0.76%
Average Drawdown Average peak-to-trough decline	-4.04%	-4.29%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.23%	+0.60%

Volatility

IHDG vs. HAWX - Volatility Comparison

WisdomTree International Hedged Dividend Growth Fund (IHDG) and iShares Currency Hedged MSCI ACWI ex U.S. ETF (HAWX) have volatilities of 4.83% and 4.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHDG	HAWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.76%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	11.08%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	12.99%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	13.33%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.77%	15.19%	+0.58%

IHDG vs. HAWX - Expense Ratio Comparison

IHDG has a 0.58% expense ratio, which is higher than HAWX's 0.35% expense ratio.

Dividends

IHDG vs. HAWX - Dividend Comparison

IHDG's dividend yield for the trailing twelve months is around 1.81%, less than HAWX's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAWX iShares Currency Hedged MSCI ACWI ex U.S. ETF	2.40%	2.80%	3.31%	2.95%	16.94%	2.63%	2.00%	3.23%	2.51%	2.40%	2.49%	3.86%
IHDG WisdomTree International Hedged Dividend Growth Fund	1.81%	1.84%	2.42%	1.70%	13.79%	2.77%	1.94%	1.99%	0.22%	1.28%	1.91%	3.04%

Frequently Asked Questions

Can I hold both IHDG and HAWX in my portfolio?

IHDG and HAWX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHDG or HAWX?

IHDG has higher volatility (4.83%) compared to HAWX (4.76%). In terms of maximum drawdown, IHDG dropped -29.24% vs HAWX's -30.63%.

Which ETF is better, IHDG or HAWX?

On 10-year performance, HAWX leads with 12.11% vs 10.16% for IHDG. On fees, HAWX is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHDG or HAWX?

Over the 10-year period, HAWX has performed better with a 12.11% return vs 10.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHDG or HAWX?

HAWX is cheaper with a 0.35% expense ratio, compared with 0.58% for IHDG.

Which ETF pays a higher dividend yield, IHDG or HAWX?

HAWX has the higher dividend yield at 2.40%, compared with 1.81% for IHDG.

What is the main difference between IHDG and HAWX?

IHDG tracks WisdomTree International Hedged Dividend Growth Index, while HAWX tracks MSCI ACWI ex USA 100% Hedged to USD. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.58% for IHDG and 0.35% for HAWX.

Which has better risk-adjusted returns?

HAWX currently has the higher Sharpe Ratio (2.85 vs 1.17), 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.