HAWX vs EWZS

Comparison between ISHARES CURRENCY HEDGED MSCI ACWI EX U.S. ETF (HAWX, ETF) and ISHARES MSCI BRAZIL SMALL-CAP ETF (EWZS, ETF).

5-Year PerformanceHAWX has outperformed EWZS, delivering a return of +12.1% compared to -4.6%

HAWX vs EWZS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HAWX(ETF)	EWZS(ETF)
Net Assets	$332M	$330M
Expense Ratio	0.35%	0.59%
Max Drawdown	30.63%	81.65%
Sharpe Ratio	1.81	0.25
5Y Beta	0.69	0.87
5Y Dividends CAGR	7.53%	21.23%

Net Assets

Winner

HAWX

$332M

EWZS

$330M

Expense Ratio

Winner

HAWX

0.35%

EWZS

0.59%

Max Drawdown

Winner

HAWX

30.63%

EWZS

81.65%

Sharpe Ratio

Winner

HAWX

1.81

EWZS

0.25

5Y Beta

Winner

HAWX

0.69

EWZS

0.87

5Y Dividends CAGR

HAWX

7.53%

Winner

EWZS

21.23%

HAWX vs EWZS - Holdings Comparison

HAWX and EWZS have 1 common holdings. Overlap is -20.65%

HAWX's top 25 holdings weight is 194.95%. EWZS's top 25 holdings weight is 62.15%.

Rank	HAWX	EWZS
#1	ISHARES MSCI ACWI EX US ETF (ACWX) - 99.25%	LOJAS RENNER SA (n/a) - 4.97%
#2	EUR/USD PURCHASED (n/a) - 20.65%	AURA MINERALS INC (AUGO) - 3.99%
#3	JPY/USD PURCHASED (n/a) - 13.54%	SENDAS DISTRIBUIDORA SA ORDINARY SHARES (n/a) - 3.74%
#4	GBP/USD PURCHASED (n/a) - 8.60%	n/a (n/a) - 3.26%
#5	CAD/USD PURCHASED (n/a) - 8.15%	ALLOS SA (n/a) - 3.25%
#6	TWD/USD PURCHASED (n/a) - 8.11%	n/a (n/a) - 3.23%
#7	HKD/USD PURCHASED (n/a) - 6.90%	NATURA COSMETICOS SA (n/a) - 2.95%
#8	KRW/USD PURCHASED (n/a) - 6.06%	n/a (n/a) - 2.86%
#9	CHF/USD PURCHASED (n/a) - 5.37%	PAGSEGURO DIGITAL LTD CLASS A (PAGS) - 2.51%
#10	AUD/USD PURCHASED (n/a) - 3.88%	n/a (n/a) - 2.48%
#11	INR/USD PURCHASED (n/a) - 3.79%	INTER & CO INC ORDINARY SHARES CLASS A (INTR) - 2.45%
#12	SEK/USD PURCHASED (n/a) - 1.87%	BRAVA ENERGIA SA ORDINARY SHARES (n/a) - 2.40%
#13	BRL/USD PURCHASED (n/a) - 1.32%	n/a (n/a) - 2.38%
#14	CNH/USD PURCHASED (n/a) - 1.18%	HYPERA SA (n/a) - 2.34%
#15	ZAR/USD PURCHASED (n/a) - 1.03%	BRADESPAR SA PARTICIPATING PREFERRED (n/a) - 1.93%
#16	DKK/USD PURCHASED (n/a) - 0.98%	GPS PARTICIPACOES E EMPREENDIMENTOS SA (n/a) - 1.93%
#17	SGD/USD PURCHASED (n/a) - 0.85%	n/a (n/a) - 1.89%
#18	CASH OFFSET (n/a) - 0.73%	CYRELA BRAZIL REALTY SA EMPREEND E PART (n/a) - 1.87%
#19	MXN/USD PURCHASED (n/a) - 0.59%	n/a (n/a) - 1.83%
#20	ILS/USD PURCHASED (n/a) - 0.50%	COSAN SA (n/a) - 1.80%
#21	NOK/USD PURCHASED (n/a) - 0.47%	n/a (n/a) - 1.78%
#22	MYR/USD PURCHASED (n/a) - 0.35%	n/a (n/a) - 1.67%
#23	THB/USD PURCHASED (n/a) - 0.32%	COGNAEDUCACAO SA (n/a) - 1.65%
#24	IDR/USD PURCHASED (n/a) - 0.25%	SIGMA LITHIUM CORP (SGML) - 1.50%
#25	CLP/USD PURCHASED (n/a) - 0.21%	AUREN ENERGIA SA (n/a) - 1.49%
Total Holdings	55	79

HAWX vs EWZS - Historical Returns

Returns include dividend reinvestment.

Period	HAWX	EWZS
1 month	+1.56%	-12.38%
3 months	+7.40%	-7.56%
6 months	+13.96%	+1.69%
1 year	+30.91%	+6.81%
5 years(CAGR)	+12.09%	-4.57%
10 years(CAGR)	+11.70%	+7.42%
Max(CAGR)	+9.85%	-1.19%

Winner

HAWX

+1.56%

EWZS

-12.38%

Winner

HAWX

+7.40%

EWZS

-7.56%

Winner

HAWX

+13.96%

EWZS

+1.69%

Winner

HAWX

+30.91%

EWZS

+6.81%

5Y(CAGR)

Winner

HAWX

+12.09%

EWZS

-4.57%

10Y(CAGR)

Winner

HAWX

+11.70%

EWZS

+7.42%

Max(CAGR)

Winner

HAWX

+9.85%

EWZS

-1.19%

HAWX vs EWZS - Annual Returns (2010 - 2026)

Returns include dividend reinvestment.

Year	HAWX	EWZS
2026	+10.84%	+1.97%
2025	+26.15%	+44.26%
2024	+15.37%	-33.42%
2023	+15.51%	+43.43%
2022	-9.23%	-6.28%
2021	+12.76%	-12.21%
2020	+5.43%	-21.62%
2019	+22.53%	+44.85%
2018	-10.09%	-9.43%
2017	+17.53%	+49.22%
2016	+9.29%	+72.86%
2015	-6.70%	-49.35%
2014	N/A	-23.10%
2013	N/A	-27.74%
2012	N/A	+25.66%
2011	N/A	-24.85%
2010	N/A	+16.35%

HAWX vs EWZS Drawdown Comparison

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

The maximum drawdown for EWZS was -79.22%, occurring on Jan 21, 2016. This drawdown has not yet recovered.

The current HAWX drawdown is -3.67%. The current EWZS drawdown is -32.51%.

Rank	HAWX	EWZS
#1	-30.63% Jan 17, 2020 - Nov 16, 2020	-79.22% Apr 26, 2011 - Jan 21, 2016
#2	-19.32% Jul 15, 2015 - Jan 4, 2017	-9.69% Jan 12, 2011 - Apr 4, 2011
#3	-17.46% Nov 16, 2021 - Jun 13, 2023	-8.18% Nov 4, 2010 - Jan 3, 2011
#4	-15.51% Jan 26, 2018 - May 3, 2019	-4.01% Oct 13, 2010 - Nov 2, 2010
#5	-13.30% Mar 19, 2025 - May 12, 2025	-2.59% Apr 8, 2011 - Apr 20, 2011
#6	-9.39% Feb 25, 2026 - Apr 17, 2026	-1.75% Jan 3, 2011 - Jan 12, 2011
#7	-9.17% Jul 12, 2024 - Sep 26, 2024	-1.73% Apr 4, 2011 - Apr 8, 2011
#8	-8.09% Jul 31, 2023 - Dec 13, 2023	-0.48% Apr 20, 2011 - Apr 26, 2011
#9	-6.56% Jul 24, 2019 - Sep 13, 2019	-0.26% Oct 5, 2010 - Oct 8, 2010
#10	-5.37% May 3, 2019 - Jul 2, 2019	-0.20% Oct 1, 2010 - Oct 5, 2010
#11	-5.10% Sep 7, 2021 - Nov 4, 2021	N/A
#12	-4.21% Nov 12, 2025 - Dec 19, 2025	N/A
#13	-3.85% Feb 16, 2021 - Apr 1, 2021	N/A
#14	-3.83% Jan 21, 2021 - Feb 5, 2021	N/A
#15	-3.67% Jun 2, 2026 - Jun 5, 2026	N/A

Correlation

Correlation between HAWX and EWZS is 0.51 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.51

-101

Dividend Comparison (2010 - 2025)

HAWX vs EWZS dividend yield comparison.

Year	HAWX	EWZS
2025	2.80%	3.88%
2024	3.31%	4.93%
2023	2.95%	2.75%
2022	16.94%	4.61%
2021	2.63%	4.51%
2020	2.00%	1.15%
2019	3.23%	1.77%
2018	2.51%	4.35%
2017	2.40%	3.41%
2016	2.49%	3.62%
2015	3.86%	4.35%
2014	0.00%	3.05%
2013	0.00%	1.88%
2012	0.00%	2.64%
2011	0.00%	2.57%
2010	0.00%	0.35%