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

IHWL.AX vs. IJH.AX

Last updated Jul 18, 2026
Documentation

IHWL.AX (iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF) and IJH.AX (iShares S&P Mid-Cap ETF) are both exchange-traded funds - IHWL.AX is a Global Equities fund tracking the iShares Core MSCI World ex Australia ESG (AUD Hedged) Index, while IJH.AX is a Mid Cap Blend Equities fund tracking the iShares S&P Mid-Cap Index. Both are passively managed. Over the past 10 years, IHWL.AX returned 12.38%/yr vs 19.36%/yr for IJH.AX. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

IHWL.AX vs. IJH.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX) and iShares S&P Mid-Cap ETF (IJH.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IHWL.AX achieves a 8.01% return, which is significantly lower than IJH.AX's 8.92% return. Over the past 10 years, IHWL.AX has underperformed IJH.AX with an annualized return of 12.38%, while IJH.AX has yielded a comparatively higher 19.36% annualized return.

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%

IJH.AX

1D
-0.07%
1M
0.38%
6M
3.26%
YTD
8.92%
1Y
12.54%
3Y*
12.34%
5Y*
15.20%
10Y*
19.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
IJH.AX
iShares S&P Mid-Cap ETF		8.92%0.34%23.20%16.67%9.71%52.15%25.00%56.41%-4.12%6.48%

Correlation

The correlation between IHWL.AX and IJH.AX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.43

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

0.51

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

0.56

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

0.53

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

0.53

The correlation between IHWL.AX and IJH.AX shifts across timeframes, from 0.43 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.

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

iShares S&P Mid-Cap ETF

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Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
IJH.AX
IJH.AX Risk / Return Rank: 3030
Overall Rank
IJH.AX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IJH.AX Sortino Ratio Rank: 3030
Sortino Ratio Rank
IJH.AX Omega Ratio Rank: 2929
Omega Ratio Rank
IJH.AX Calmar Ratio Rank: 3030
Calmar Ratio Rank
IJH.AX Martin Ratio Rank: 3232
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.

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

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

IHWL.AXIJH.AXDifference
Sharpe ratioReturn per unit of total volatility
1.38
0.86

+0.52

Sortino ratioReturn per unit of downside risk
1.98
1.28

+0.70

Omega ratioGain probability vs. loss probability

1.26

1.16

+0.10

Calmar ratioReturn relative to maximum drawdown

1.89

1.16

+0.73

Martin ratioReturn relative to average drawdown

7.98

3.44

+4.54

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

The current IHWL.AX Sharpe Ratio is 1.38, which is higher than the IJH.AX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of IHWL.AX and IJH.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

IHWL.AX vs. IJH.AX - Drawdown Comparison

The maximum IHWL.AX drawdown since its inception was -39.03%, which is greater than IJH.AX's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for IHWL.AX and IJH.AX.

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Drawdown Indicators

IHWL.AXIJH.AXDifference

Max Drawdown

Largest peak-to-trough decline

-39.03%

-34.08%

-4.95%

Max Drawdown (1Y)

Largest decline over 1 year

-10.16%

-10.43%

+0.27%

Max Drawdown (3Y)

Largest decline over 3 years

-19.96%

-20.00%

+0.04%

Max Drawdown (5Y)

Largest decline over 5 years

-27.41%

-20.00%

-7.41%

Max Drawdown (10Y)

Largest decline over 10 years

-39.03%

-34.08%

-4.95%

Current Drawdown

Current decline from peak

-1.30%

-3.07%

+1.77%

Average Drawdown

Average peak-to-trough decline

-5.15%

-3.92%

-1.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.44%

3.58%

-1.14%

Volatility

IHWL.AX vs. IJH.AX - Volatility Comparison

iShares Core MSCI World ex Australia ESG (AUD Hedged) ETF (IHWL.AX) has a higher volatility of 2.78% compared to iShares S&P Mid-Cap ETF (IJH.AX) at 2.63%. This indicates that IHWL.AX's price experiences larger fluctuations and is considered to be riskier than IJH.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IHWL.AXIJH.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.78%

2.63%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

11.53%

11.19%

+0.34%

Volatility (1Y)

Calculated over the trailing 1-year period

13.91%

14.21%

-0.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.51%

17.11%

+0.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.30%

18.46%

-1.16%

Dividends

IHWL.AX vs. IJH.AX - Dividend Comparison

IHWL.AX's dividend yield for the trailing twelve months is around 5.28%, more than IJH.AX's 0.81% yield.

PositionTTM2025202420232022202120202019201820172016
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%
IJH.AX
iShares S&P Mid-Cap ETF		0.81%0.79%1.13%1.49%16.43%14.04%17.94%19.86%0.00%0.00%3.05%

Frequently Asked Questions

IHWL.AX and IJH.AX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHWL.AX is categorized as Global Equities, while IJH.AX is Mid Cap Blend Equities. IHWL.AX tracks iShares Core MSCI World ex Australia ESG (AUD Hedged) Index, while IJH.AX tracks iShares S&P Mid-Cap Index.

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