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IWLD.AX vs. HJPN.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWLD.AX vs. HJPN.AX

Last updated Jul 16, 2026
Documentation

IWLD.AX (iShares Core MSCI World Ex Australia ESG ETF) and HJPN.AX (Betashares Japan Currency Hedged ETF) are both Global Equities funds - IWLD.AX tracks the iShares Core MSCI World Ex Australia ESG Index while HJPN.AX tracks the Betashares Japan Currency Hedged Index. Both are passively managed. Over the past 10 years, IWLD.AX returned 14.11%/yr vs 15.57%/yr for HJPN.AX. At a 0.48 correlation, their price movements are largely independent.

Performance

IWLD.AX vs. HJPN.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) and Betashares Japan Currency Hedged ETF (HJPN.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, IWLD.AX achieves a 4.51% return, which is significantly lower than HJPN.AX's 25.87% return. Over the past 10 years, IWLD.AX has underperformed HJPN.AX with an annualized return of 14.11%, while HJPN.AX has yielded a comparatively higher 15.57% annualized return.

IWLD.AX

1D
0.00%
1M
1.79%
6M
3.63%
YTD
4.51%
1Y
13.37%
3Y*
17.73%
5Y*
13.29%
10Y*
14.11%

HJPN.AX

1D
-1.55%
1M
-0.07%
6M
17.25%
YTD
25.87%
1Y
56.07%
3Y*
28.09%
5Y*
19.88%
10Y*
15.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWLD.AX vs. HJPN.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWLD.AX
iShares Core MSCI World Ex Australia ESG ETF		4.51%12.19%31.18%27.88%-16.19%38.02%3.84%27.93%-0.22%12.45%
HJPN.AX
Betashares Japan Currency Hedged ETF		25.87%25.64%24.96%34.17%-13.44%16.18%15.92%16.79%-21.05%22.05%

Correlation

The correlation between IWLD.AX and HJPN.AX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.48

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

0.52

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

0.48

Correlation (All Time)
Calculated using the full available price history since May 10, 2016

0.48

The correlation between IWLD.AX and HJPN.AX has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

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iShares Core MSCI World Ex Australia ESG ETF

Betashares Japan Currency Hedged ETF

Return for Risk

IWLD.AX vs. HJPN.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWLD.AX
IWLD.AX Risk / Return Rank: 3737
Overall Rank
IWLD.AX Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IWLD.AX Sortino Ratio Rank: 4141
Sortino Ratio Rank
IWLD.AX Omega Ratio Rank: 4646
Omega Ratio Rank
IWLD.AX Calmar Ratio Rank: 2626
Calmar Ratio Rank
IWLD.AX Martin Ratio Rank: 2828
Martin Ratio Rank
HJPN.AX
HJPN.AX Risk / Return Rank: 8484
Overall Rank
HJPN.AX Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
HJPN.AX Sortino Ratio Rank: 8181
Sortino Ratio Rank
HJPN.AX Omega Ratio Rank: 8181
Omega Ratio Rank
HJPN.AX Calmar Ratio Rank: 9191
Calmar Ratio Rank
HJPN.AX Martin Ratio Rank: 8686
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.

IWLD.AX vs. HJPN.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) and Betashares Japan Currency Hedged ETF (HJPN.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.

IWLD.AXHJPN.AXDifference
Sharpe ratioReturn per unit of total volatility
1.27
2.05

-0.79

Sortino ratioReturn per unit of downside risk
1.79
2.91

-1.12

Omega ratioGain probability vs. loss probability

1.25

1.38

-0.13

Calmar ratioReturn relative to maximum drawdown

1.10

4.62

-3.52

Martin ratioReturn relative to average drawdown

3.25

14.24

-10.99

IWLD.AX vs. HJPN.AX - Sharpe Ratio Comparison

The current IWLD.AX Sharpe Ratio is 1.27, which is lower than the HJPN.AX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of IWLD.AX and HJPN.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

IWLD.AX vs. HJPN.AX - Drawdown Comparison

The maximum IWLD.AX drawdown since its inception was -24.85%, smaller than the maximum HJPN.AX drawdown of -36.74%. Use the drawdown chart below to compare losses from any high point for IWLD.AX and HJPN.AX.

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Drawdown Indicators

IWLD.AXHJPN.AXDifference

Max Drawdown

Largest peak-to-trough decline

-24.85%

-36.74%

+11.89%

Max Drawdown (1Y)

Largest decline over 1 year

-12.19%

-11.86%

-0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-15.95%

-26.71%

+10.76%

Max Drawdown (5Y)

Largest decline over 5 years

-23.34%

-26.71%

+3.37%

Max Drawdown (10Y)

Largest decline over 10 years

-24.85%

-36.74%

+11.89%

Current Drawdown

Current decline from peak

-0.42%

-4.46%

+4.04%

Average Drawdown

Average peak-to-trough decline

-4.49%

-7.84%

+3.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.21%

3.87%

+0.34%

Volatility

IWLD.AX vs. HJPN.AX - Volatility Comparison

The current volatility for iShares Core MSCI World Ex Australia ESG ETF (IWLD.AX) is 2.31%, while Betashares Japan Currency Hedged ETF (HJPN.AX) has a volatility of 7.36%. This indicates that IWLD.AX experiences smaller price fluctuations and is considered to be less risky than HJPN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWLD.AXHJPN.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.31%

7.36%

-5.05%

Volatility (6M)

Calculated over the trailing 6-month period

8.39%

19.77%

-11.38%

Volatility (1Y)

Calculated over the trailing 1-year period

10.62%

26.67%

-16.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.77%

23.80%

-10.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.87%

20.99%

-7.12%

Dividends

IWLD.AX vs. HJPN.AX - Dividend Comparison

IWLD.AX's dividend yield for the trailing twelve months is around 0.93%, less than HJPN.AX's 5.93% yield.

PositionTTM2025202420232022202120202019201820172016
HJPN.AX
Betashares Japan Currency Hedged ETF		5.93%0.00%5.68%3.06%8.35%5.39%0.00%0.37%2.46%1.47%0.11%
IWLD.AX
iShares Core MSCI World Ex Australia ESG ETF		0.93%1.21%1.15%2.36%0.77%13.52%2.08%3.20%2.52%1.41%0.00%

Frequently Asked Questions

IWLD.AX and HJPN.AX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWLD.AX tracks iShares Core MSCI World Ex Australia ESG Index, while HJPN.AX tracks Betashares Japan Currency Hedged Index. They also come from different issuers: iShares and BetaShares.

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