iShares MSCI World ex Australia Quality (AUD Hedged) ETF (IHQL) Review & Analysis

MER · Top 50%AUM · #486 of 5081Y Return · Top 25%

What's new this monthData to 30 September 2026

+0.4% in September (total return), ahead of the median international shares ETF at +0.0%.
The unit price closed the month at $32.62, at or near its 12-month high (range $27.82 to $32.73).

About IHQL

IHQL is an international shares ETF from iShares, listed on the TMX Australia exchange since February 2024. With $2.4m under management it is number 246 of 254 international shares ETFs by size. The management fee is 0.28% a year, about $28 on every $10,000 invested, cheaper than the typical international shares ETF at 0.55%.

Its largest holdings are Microsoft Corp, Apple Inc and Meta Platforms Inc, and the top 10 make up 38% of the fund. By sector it leans towards information technology (26%) and financials (18%). United States is the biggest country exposure at 76%.

Over the past year it returned +16.6%, against +10.4% for the median international shares ETF.

Compare IHQL Check overlap iShares website ↗

Compare IHQL with

IHQLvsIVHG

iShares MSCI World ex Australia Value (AUD Hedged) ETF

Fee	0.28%	0.28%
1 year	+16.6%	+54.2%
5 yrs p.a.	–	–
Size	$2.4m	$8.0m

Same holdingsNo holdings data

Full comparison →

IHQLvsQHAL

VanEck MSCI International Quality (AUD Hedged) ETF

Fee	0.28%	0.43%
1 year	+16.6%	+16.5%
5 yrs p.a.	–	+9.7%
Size	$2.4m	$2.7bn

Same holdings82%Near identical

Full comparison →

IHQLvsQHSM

VanEck MSCI International Small Companies Quality (AUD Hedged) ETF

Fee	0.28%	0.62%
1 year	+16.6%	+4.2%
5 yrs p.a.	–	–
Size	$2.4m	$262m

Same holdings0%No companies in common

Full comparison →

IHQLvsIQLT

iShares MSCI World ex Australia Quality ETF

Fee	0.28%	0.25%
1 year	+16.6%	+10.2%
5 yrs p.a.	–	–
Size	$2.4m	$42m

Same holdings99%Near identical

Full comparison →

Stock Code	IHQL
Fund Manager	iShares
Asset Class	International shares
AUM	$2.4m
MER (%)	0.28%
Net flows (Sep)	$0.0m
Last Price	$32.62
52-Week Range	$27.82 – $32.73
Bid/Ask Spread	0.30%
Listing Date	22/02/2024
Exchange	TMX Australia
Index tracked	MSCI World ex Australia Sector Neutral Quality Index (hedged)
Issuer website	iShares ↗

Performance (% return)

1 month+0.4%

1 year+16.6%

3 years p.a.–

5 years p.a.–

$10,000 invested…

1 year ago$11,657

Value at 30 September 2026 with distributions reinvested, before tax and brokerage.

Total returns including distributions, to 30 September 2026. 1M, 1Y, 3Y and 5Y bars are cumulative.

IHQL at a glance: strengths and things to watch

👍 Strengths

Low cost. At 0.28% a year it is cheaper than 86% of international shares ETFs.
In an uptrend. Its price has been trending up since 28 September (as at 7 November).

⚠️ Things to watch

Small fund. With $2.4m under management, it is more at risk of being closed or merged than larger funds, and trading can be thinner.
Short track record. Listed in February 2024, so it hasn't been tested through a full market cycle.

Worked out from IHQL's fees, size, flows, returns and trend against the 257 international shares ETFs in Australia, to 30 September 2026. General information, not a recommendation.

etfadviserTrend check

Uptrend since 28 Sep 2026

IHQL is in an uptrend. Here's why that matters.

IHQL's price is above its 20-day average and its 10, 20, 50 and 200-day averages are stacked upward. The trend is on investors' side. Its price is at or near its 12-month high.

Why it matters: Uptrends are when satellite ETFs tend to do their best work. The key is knowing when the trend breaks, so gains aren't handed back.

At ETF Adviser the core of a portfolio stays invested through every stage, and satellite ETFs are only bought in an uptrend. Members get a weekly update on which ETFs are breaking out of a base and which trends have broken.

Get the weekly trend updates: try it free for 30 days How base and trend works →See every ETF's stage →Visit etfadviser.com.au →

UptrendBaseDowntrend

IHQL weekly price, past 12 months, shaded by trend stage. Stage as at 7 November 2026, updated weekly. A technical label, not a recommendation.

💡 Cheaper twin

IQLT holds 99% of the same companies as IHQL for 0.03% a year less, which is $30 a year on $100,000. See all cheaper alternatives to IHQL →

Investment Focus

Exposure Regions

Global

Themes & Sectors

Currency hedged

Portfolio Breakdown

Top 10 holdings (38.2% of the fund)

Symbol	Company	% assets
MSFT		5.79%
AAPL		5.34%
META		4.73%
LLY		4.69%
NVDA		4.30%
V		3.55%
GOOGL		3.35%
ASML		2.45%
MA		2.04%
JNJ		1.97%

Sector breakdown

Information Technology26.1%
Financials17.5%
Health Care15.5%
Communication Services9.9%
Industrials9.2%
Consumer Staples7.8%
Consumer Discretionary5.7%
Materials3.0%
Other5.3%

Country breakdown

United States75.8%
Switzerland4.7%
United Kingdom4.6%
Japan3.4%
Netherlands2.7%
Canada1.9%
France1.4%
Germany1.3%
Other4.3%

Holdings from the issuer's published portfolio as at 30 October 2026. Breakdowns are based on the largest 288 positions, covering 99% of the fund. Compare IHQL's holdings with other ETFs →

Best-endeavours estimate. Built from each issuer's published holdings, which may be weeks or months old, may cover only part of a fund (some publish only their top 10) and are matched by company name. Figures may be incomplete or inaccurate. Check the issuer's website and PDS before relying on them. General information only.

Similar ETFs

Code	Name	Same holdings	MER	AUM	1Y	3Y p.a.	5Y p.a.
IQLT	iShares MSCI World ex Australia Quality ETF	99%	0.25%	$42m	+10.2%	–	–
QUAL	VanEck MSCI International Quality ETF	83%	0.40%	$9.2bn	+10.1%	+16.1%	+11.4%
QHAL	VanEck MSCI International Quality (AUD Hedged) ETF Currency hedged	82%	0.43%	$2.7bn	+16.5%	+17.8%	+9.7%
GARP	Global X S&P World ex Australia GARP ETF	52%	0.30%	$132m	+5.6%	–	–
VGS	Vanguard MSCI Index International Shares ETF	46%	0.18%	$18.7bn	+10.1%	+17.9%	+11.8%
VGAD	Vanguard MSCI Index International Shares (Hedged) ETF Currency hedged	46%	0.21%	$7.9bn	+17.1%	+19.8%	+10.8%

Same holdings is the share of IHQL's money in companies the other ETF also holds, weighted by size. Most similar first, then ETFs in the same category. See every ETF like IHQL →

IHQL vs its closest alternatives

What actually differs between IHQL and the ETFs most like it. Data to 30 Sep 2026.

IQLT iShares MSCI World ex Australia Quality ETF

They share 99% of their holdings: largely the same companies.
IQLT is cheaper (0.25% vs 0.28%), worth about $2,070 on $100,000 over 20 years.
Over 1 year: IHQL +16.6%, IQLT +10.2% (IHQL ahead by 6.3 percentage points).
IQLT is much larger ($42m vs $2.4m), which usually means tighter trading spreads.
Different structure: IHQL is currency hedged, IQLT is a standard fund.

Compare IHQL and IQLT side by side →

QUAL VanEck MSCI International Quality ETF

They share 83% of their holdings: largely the same companies.
IHQL is cheaper (0.28% vs 0.40%), worth about $8,171 on $100,000 over 20 years.
Over 1 year: IHQL +16.6%, QUAL +10.1% (IHQL ahead by 6.5 percentage points).
QUAL is much larger ($9.2bn vs $2.4m), which usually means tighter trading spreads.
Different structure: IHQL is currency hedged, QUAL is a standard fund.

Compare IHQL and QUAL side by side →

QHAL VanEck MSCI International Quality (AUD Hedged) ETF

They share 82% of their holdings: largely the same companies.
IHQL is cheaper (0.28% vs 0.43%), worth about $10,186 on $100,000 over 20 years.
Over 1 year: IHQL +16.6%, QHAL +16.5% (almost identical).
QHAL is much larger ($2.7bn vs $2.4m), which usually means tighter trading spreads.

Compare IHQL and QHAL side by side →

General information only. Past performance is not a reliable indicator of future performance.

IHQL FAQs

What is the fee for IHQL?

IHQL charges a management fee (MER) of 0.28% a year, according to the TMX Australia monthly funds report as at 30 September 2026.

How big is IHQL?

IHQL had $2.4m in funds under management as at 30 September 2026.

How has IHQL performed?

IHQL returned +16.6% over the year to 30 September 2026 (total return, including distributions). Past performance is not a reliable indicator of future performance.

Who manages IHQL?

IHQL is managed by iShares and has been listed since February 2024.

Is IHQL franked?

Generally no. IHQL invests outside Australia, so its distributions carry little or no franking credits. Franking comes from Australian companies that have paid tax here.

What does IHQL hold?

IHQL's largest holdings are Microsoft Corp (5.8%), Apple Inc (5.3%), Meta Platforms Inc (4.7%), Eli Lilly & Co (4.7%), NVIDIA Corp (4.3%). It holds about 288 investments in total. The biggest sector is information technology at 26%. Holdings as at 30 October 2026.

Is IHQL currency hedged?

Yes. IHQL is currency hedged, so changes in the Australian dollar have little effect on its returns. You get the return of the underlying investments in their local currency, less a small cost of hedging.

Is there a cheaper alternative to IHQL?

Yes. IQLT (iShares MSCI World ex Australia Quality ETF) holds about 99% of the same companies and charges 0.25% a year, against 0.28% for IHQL. Note that IQLT is not currency hedged, so its returns will differ when the Australian dollar moves. Check the index and size before switching, and remember selling may trigger capital gains tax.

Disclaimer

This review is general information only and does not take into account your objectives, financial situation or needs. Consider the iShares product disclosure statement (PDS) and target market determination (TMD) before investing. Past performance is not a reliable indicator of future performance.