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IHVV.AX vs. IHWL.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHVV.AX vs. IHWL.AX

Last updated Jul 18, 2026
Documentation

IHVV.AX (iShares S&P 500 AUD Hedged ETF) and IHWL.AX (iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF) are both Global Equities funds from iShares - IHVV.AX tracks the iShares S&P 500 AUD Hedged Index while IHWL.AX tracks the iShares Core MSCI World ex Australia ESG (AUD Hedged) Index. Both are passively managed. Over the past 10 years, IHVV.AX returned 13.04%/yr vs 12.38%/yr for IHWL.AX. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

IHVV.AX vs. IHWL.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares S&P 500 AUD Hedged ETF (IHVV.AX) and iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX). 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 IHVV.AX having a 8.13% return and IHWL.AX slightly lower at 8.01%. Over the past 10 years, IHVV.AX has outperformed IHWL.AX with an annualized return of 13.04%, while IHWL.AX has yielded a comparatively lower 12.38% annualized return.

IHVV.AX

1D
-1.48%
1M
-0.83%
6M
6.89%
YTD
8.13%
1Y
19.00%
3Y*
17.98%
5Y*
10.80%
10Y*
13.04%

IHWL.AX

1D
-1.30%
1M
-0.53%
6M
6.33%
YTD
8.01%
1Y
20.04%
3Y*
17.75%
5Y*
11.11%
10Y*
12.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHVV.AX vs. IHWL.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IHVV.AX
iShares S&P 500 AUD Hedged ETF		8.13%17.13%23.18%23.30%-20.77%28.58%11.96%29.96%-6.70%21.81%
IHWL.AX
iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF		8.01%17.85%20.95%26.93%-21.57%31.44%7.65%24.82%-8.18%19.90%

Correlation

The correlation between IHVV.AX and IHWL.AX is 0.91, 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

0.91

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

0.93

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

0.95

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

0.84

Correlation (All Time)
Calculated using the full available price history since Apr 22, 2016

0.83

The correlation between IHVV.AX and IHWL.AX shifts across timeframes, from 0.83 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

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iShares S&P 500 AUD Hedged ETF

iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF

Often compared with IHVV.AX:
IHVV.AX vs. BILL.AXIHVV.AX vs. ISEC.AXIHVV.AX vs. OOO.AXIHVV.AX vs. AUMF.AXIHVV.AX vs. CORE.AXIHVV.AX vs. ESGI.AXIHVV.AX vs. ESTX.AX
Often compared with IHWL.AX:
IHWL.AX vs. AUMF.AXIHWL.AX vs. ISEC.AXIHWL.AX vs. BILL.AXIHWL.AX vs. F100.AXIHWL.AX vs. HJPN.AXIHWL.AX vs. OOO.AXIHWL.AX vs. VDCO.AX

Return for Risk

IHVV.AX vs. IHWL.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHVV.AX
IHVV.AX Risk / Return Rank: 5555
Overall Rank
IHVV.AX Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IHVV.AX Sortino Ratio Rank: 5252
Sortino Ratio Rank
IHVV.AX Omega Ratio Rank: 5454
Omega Ratio Rank
IHVV.AX Calmar Ratio Rank: 5454
Calmar Ratio Rank
IHVV.AX Martin Ratio Rank: 6363
Martin Ratio Rank
IHWL.AX
IHWL.AX Risk / Return Rank: 5555
Overall Rank
IHWL.AX Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
IHWL.AX Sortino Ratio Rank: 5353
Sortino Ratio Rank
IHWL.AX Omega Ratio Rank: 5656
Omega Ratio Rank
IHWL.AX Calmar Ratio Rank: 4949
Calmar Ratio Rank
IHWL.AX Martin Ratio Rank: 6161
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.

IHVV.AX vs. IHWL.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 AUD Hedged ETF (IHVV.AX) and iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX). 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.

IHVV.AXIHWL.AXDifference
Sharpe ratioReturn per unit of total volatility
1.37
1.38

-0.01

Sortino ratioReturn per unit of downside risk
1.94
1.98

-0.04

Omega ratioGain probability vs. loss probability

1.26

1.26

0.00

Calmar ratioReturn relative to maximum drawdown

2.04

1.89

+0.15

Martin ratioReturn relative to average drawdown

8.25

7.98

+0.27

IHVV.AX vs. IHWL.AX - Sharpe Ratio Comparison

The current IHVV.AX Sharpe Ratio is 1.37, which is comparable to the IHWL.AX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of IHVV.AX and IHWL.AX, 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

IHVV.AX vs. IHWL.AX - Drawdown Comparison

The maximum IHVV.AX drawdown since its inception was -36.07%, smaller than the maximum IHWL.AX drawdown of -39.03%. Use the drawdown chart below to compare losses from any high point for IHVV.AX and IHWL.AX.

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Drawdown Indicators

IHVV.AXIHWL.AXDifference

Max Drawdown

Largest peak-to-trough decline

-36.07%

-39.03%

+2.96%

Max Drawdown (1Y)

Largest decline over 1 year

-9.02%

-10.16%

+1.14%

Max Drawdown (3Y)

Largest decline over 3 years

-20.47%

-19.96%

-0.51%

Max Drawdown (5Y)

Largest decline over 5 years

-26.64%

-27.41%

+0.77%

Max Drawdown (10Y)

Largest decline over 10 years

-36.07%

-39.03%

+2.96%

Current Drawdown

Current decline from peak

-1.72%

-1.30%

-0.42%

Average Drawdown

Average peak-to-trough decline

-4.81%

-5.15%

+0.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.27%

2.44%

-0.17%

Volatility

IHVV.AX vs. IHWL.AX - Volatility Comparison

iShares S&P 500 AUD Hedged ETF (IHVV.AX) has a higher volatility of 3.11% compared to iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX) at 2.78%. This indicates that IHVV.AX's price experiences larger fluctuations and is considered to be riskier than IHWL.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IHVV.AXIHWL.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.11%

2.78%

+0.33%

Volatility (6M)

Calculated over the trailing 6-month period

11.06%

11.53%

-0.47%

Volatility (1Y)

Calculated over the trailing 1-year period

13.48%

13.91%

-0.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.69%

17.51%

+0.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.95%

17.30%

+1.65%

Dividends

IHVV.AX vs. IHWL.AX - Dividend Comparison

IHVV.AX's dividend yield for the trailing twelve months is around 4.14%, less than IHWL.AX's 5.28% yield.

PositionTTM20252024202320222021202020192018201720162015
IHVV.AX
iShares S&P 500 AUD Hedged ETF		4.14%0.79%0.92%1.30%1.52%19.67%1.64%0.00%3.20%1.74%0.57%1.84%
IHWL.AX
iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF		5.28%0.98%1.11%3.06%0.77%11.16%0.00%0.00%2.35%1.07%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.91, IHVV.AX and IHWL.AX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

IHVV.AX tracks iShares S&P 500 AUD Hedged Index, while IHWL.AX tracks iShares Core MSCI World ex Australia ESG (AUD Hedged) Index.

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