AFB vs HAWX

Comparison between AllianceBernstein National Municipal Income Fund Inc (AFB, ETF) and ISHARES CURRENCY HEDGED MSCI ACWI EX U.S. ETF (HAWX, ETF).

5-Year PerformanceHAWX has outperformed AFB, delivering a return of +12.8% compared to -1.2%

AFB vs HAWX - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AFB(ETF)	HAWX(ETF)
Net Assets	$347M	$346M
Expense Ratio	N/A	0.35%
Max Drawdown	56.18%	30.63%
Sharpe Ratio	1.58	1.89
5Y Beta	0.10	0.70
5Y Dividends CAGR	-2.44%	7.53%

Net Assets

Winner

AFB

$347M

HAWX

$346M

Expense Ratio

AFB

N/A

HAWX

0.35%

Max Drawdown

AFB

56.18%

Winner

HAWX

30.63%

Sharpe Ratio

AFB

1.58

Winner

HAWX

1.89

5Y Beta

Winner

AFB

0.10

HAWX

0.70

5Y Dividends CAGR

AFB

-2.44%

Winner

HAWX

7.53%

AFB vs HAWX - Historical Returns

Returns include dividend reinvestment.

Period	AFB	HAWX
1 month	+3.38%	+5.03%
3 months	+6.57%	+11.06%
6 months	+7.95%	+18.77%
1 year	+16.73%	+35.43%
5 years(CAGR)	-1.17%	+12.80%
10 years(CAGR)	+1.61%	+12.54%
Max(CAGR)	+4.49%	+10.19%

AFB

+3.38%

Winner

HAWX

+5.03%

AFB

+6.57%

Winner

HAWX

+11.06%

AFB

+7.95%

Winner

HAWX

+18.77%

AFB

+16.73%

Winner

HAWX

+35.43%

5Y(CAGR)

AFB

-1.17%

Winner

HAWX

+12.80%

10Y(CAGR)

AFB

+1.61%

Winner

HAWX

+12.54%

Max(CAGR)

AFB

+4.49%

Winner

HAWX

+10.19%

AFB vs HAWX - Annual Returns (2002 - 2026)

Returns include dividend reinvestment.

Year	AFB	HAWX
2026	+6.86%	+15.00%
2025	+3.74%	+26.15%
2024	+3.62%	+15.37%
2023	+6.52%	+15.51%
2022	-26.36%	-9.23%
2021	+7.80%	+12.76%
2020	+8.62%	+5.43%
2019	+17.80%	+22.53%
2018	-5.64%	-10.09%
2017	+5.98%	+17.53%
2016	+0.60%	+9.29%
2015	+6.57%	-6.70%
2014	+17.08%	N/A
2013	-16.19%	N/A
2012	+12.31%	N/A
2011	+23.79%	N/A
2010	+2.72%	N/A
2009	+46.56%	N/A
2008	-26.19%	N/A
2007	-7.62%	N/A
2006	+5.59%	N/A
2005	+17.67%	N/A
2004	+6.73%	N/A
2003	+9.12%	N/A
2002	-3.10%	N/A

AFB vs HAWX Drawdown Comparison

The maximum drawdown for AFB was -51.00%, occurring on Oct 10, 2008. Recovery took 746 trading sessions.

The maximum drawdown for HAWX was -30.63%, occurring on Mar 16, 2020. Recovery took 210 trading sessions.

The current AFB drawdown is -8.64%. The current HAWX drawdown is -0.53%.

Rank	AFB	HAWX
#1	-51.00% Oct 19, 2006 - Oct 7, 2009	-30.63% Jan 17, 2020 - Nov 16, 2020
#2	-35.14% Dec 16, 2021 - Oct 20, 2023	-19.32% Jul 15, 2015 - Jan 4, 2017
#3	-26.40% Jan 18, 2013 - Jan 7, 2016	-17.46% Nov 16, 2021 - Jun 13, 2023
#4	-23.23% Mar 6, 2020 - Nov 27, 2020	-15.51% Jan 26, 2018 - May 3, 2019
#5	-18.03% Oct 7, 2010 - Sep 13, 2011	-13.30% Mar 19, 2025 - May 12, 2025
#6	-14.00% Mar 17, 2004 - Nov 1, 2004	-9.39% Feb 25, 2026 - Apr 17, 2026
#7	-13.99% Jul 8, 2016 - Jun 13, 2019	-9.17% Jul 12, 2024 - Sep 26, 2024
#8	-12.35% Jan 29, 2002 - Apr 28, 2003	-8.09% Jul 31, 2023 - Dec 13, 2023
#9	-9.33% Oct 7, 2009 - Jan 25, 2010	-6.56% Jul 24, 2019 - Sep 13, 2019
#10	-8.25% Mar 2, 2012 - May 17, 2012	-5.37% May 3, 2019 - Jul 2, 2019
#11	-8.16% Jun 13, 2003 - Jan 9, 2004	-5.10% Sep 7, 2021 - Nov 4, 2021
#12	-6.23% Oct 1, 2012 - Jan 7, 2013	-4.33% Jun 2, 2026 - Jun 15, 2026
#13	-6.06% Sep 7, 2005 - Dec 15, 2005	-4.21% Nov 12, 2025 - Dec 19, 2025
#14	-5.38% Jul 11, 2006 - Aug 1, 2006	-3.85% Feb 16, 2021 - Apr 1, 2021
#15	-5.24% Jan 30, 2012 - Mar 2, 2012	-3.83% Jan 21, 2021 - Feb 5, 2021

Correlation

Correlation between AFB and HAWX is 0.46 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.46

-101

Dividend Comparison (2002 - 2026)

AFB vs HAWX dividend yield comparison.

Year	AFB	HAWX
2026	2.67%	0.00%
2025	4.72%	2.80%
2024	3.83%	3.31%
2023	3.62%	2.95%
2022	5.26%	16.94%
2021	4.32%	2.63%
2020	4.18%	2.00%
2019	3.93%	3.23%
2018	4.53%	2.51%
2017	4.70%	2.40%
2016	5.34%	2.49%
2015	5.80%	3.86%
2014	6.35%	0.00%
2013	7.06%	0.00%
2012	5.98%	0.00%
2011	6.29%	0.00%
2010	7.19%	0.00%
2009	6.64%	0.00%
2008	8.37%	0.00%
2007	5.91%	0.00%
2006	6.29%	0.00%
2005	6.48%	0.00%
2004	7.14%	0.00%
2003	6.81%	0.00%
2002	5.18%	0.00%