HAWX vs QQQ
HAWX vs QQQ
iShares Currency Hedged MSCI ACWI ex US ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. HAWX delivered stronger 1-year returns. HAWX offers more diversification with 1379 holdings.
Side-by-Side Comparison
| Metric | HAWX | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.18% | |
| AUM | $346M | $455.8B | |
| Dividend Yield | 2.38% | 0.41% | |
| Holdings | 2,085 | 108 | |
| YTD Return | +15.90% | +17.27% | |
| 1Y Return | +32.81% | +28.64% | |
| 3Y Return (annualized) | +21.15% | +24.88% | |
| 5Y Return (annualized) | +13.12% | +14.86% | |
| Volatility (annualized) | 12.4% | 30.6% | |
| Max Drawdown | -30.6% | -83.0% | |
| Fund Family | iShares by BlackRock (US) | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jun 29, 2015 | Mar 10, 1999 |
HAWX vs QQQ Performance
iShares Currency Hedged MSCI ACWI ex US ETF (HAWX) is a ETF from iShares by BlackRock (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year HAWX returned +32.81% while QQQ returned +28.64%. Year to date, HAWX is up 15.90% versus a gain of 17.27% for QQQ.
Over three years, HAWX compounded at +21.15% per year against +24.88% for QQQ; over five years the annualized figures are +13.12% and +14.86% respectively. Across the full 11-year window we track, QQQ has the edge at +13.08% annualized vs +8.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 12.4% for HAWX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.6% for HAWX and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HAWX charges 0.35% per year while QQQ charges 0.18%. On a $10,000 position that is $35 vs $18 annually, a gap of $17 per year that compounds over a long holding period. On income, HAWX currently yields 2.38% against 0.41% for QQQ.
Holdings Overlap
HAWX and QQQ share 3 holdings out of 1479 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HAWX or QQQ?
HAWX has an expense ratio of 0.35% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $17 per year of difference.
Which performed better, HAWX or QQQ?
Over the past year HAWX returned +32.81% vs +28.64% for QQQ, so HAWX leads on 1-year performance. Over the longest common window we track (11 years), HAWX annualized +8.50% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, HAWX or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 12.4% for HAWX. Worst drawdown: HAWX -30.6% vs QQQ -83.0%.
Should I hold both HAWX and QQQ?
HAWX and QQQ have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HAWX and QQQ?
HAWX and QQQ share 3 common holdings with a 0.5% weight overlap. Combined, they hold 1479 unique securities.
Which pays a higher dividend, HAWX or QQQ?
HAWX yields 2.38% while QQQ yields 0.41%, so HAWX currently pays the higher dividend yield.
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