APIE vs. HDMV

Last updated Jun 4, 2026

APIE (ActivePassive International Equity ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past 3 years, APIE returned 17.90%/yr vs 12.63%/yr for HDMV. A 0.70 correlation means they provide meaningful diversification when combined. APIE charges 0.45%/yr vs 0.80%/yr for HDMV.

Performance

APIE vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive International Equity ETF (APIE) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APIE achieves a 8.11% return, which is significantly higher than HDMV's 4.23% return.

APIE

• 1D: -1.51%
• 1M: 3.12%
• YTD: 8.11%
• 6M: 9.61%
• 1Y: 22.79%
• 3Y*: 17.90%
• 5Y*: —
• 10Y*: —

HDMV

• 1D: -0.67%
• 1M: -1.37%
• YTD: 4.23%
• 6M: 5.97%
• 1Y: 9.53%
• 3Y*: 12.63%
• 5Y*: 6.31%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APIE vs. HDMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APIE ActivePassive International Equity ETF	8.11%	31.46%	7.37%	7.98%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.23%	29.31%	2.99%	0.67%

Correlation

The correlation between APIE and HDMV is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.70

The correlation between APIE and HDMV has been stable across timeframes, ranging from 0.69 to 0.71 - a consistent structural relationship.

APIE vs. HDMV - Sectors Allocation Comparison

Sectors	APIE	HDMV
Technology	21.5%	0.9%
Financial Services	19.9%	24.4%
Industrials	14.4%	15.2%
Consumer Cyclical	9.8%	2.7%
Healthcare	9.2%	3.1%
Communication Services	7.2%	9.4%
Consumer Defensive	5.7%	13.0%
Basic Materials	5.4%	1.0%
Energy	3.4%	1.8%
Utilities	2.7%	14.6%
Real Estate	0.6%	13.8%

Return for Risk

APIE vs. HDMV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APIE

APIE Risk / Return Rank: 40
APIE Sharpe Ratio Rank: 40
APIE Sortino Ratio Rank: 40
APIE Omega Ratio Rank: 38
APIE Calmar Ratio Rank: 37
APIE Martin Ratio Rank: 42

HDMV

HDMV Risk / Return Rank: 24
HDMV Sharpe Ratio Rank: 24
HDMV Sortino Ratio Rank: 22
HDMV Omega Ratio Rank: 23
HDMV Calmar Ratio Rank: 24
HDMV Martin Ratio Rank: 26

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.

APIE vs. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive International Equity ETF (APIE) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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.

	APIE	HDMV	Difference
Sharpe ratio: Return per unit of total volatility	1.42	0.86	+0.56
Sortino ratio: Return per unit of downside risk	2.05	1.23	+0.82
Omega ratio: Gain probability vs. loss probability	1.25	1.16	+0.09
Calmar ratio: Return relative to maximum drawdown	1.84	1.10	+0.75
Martin ratio: Return relative to average drawdown	6.77	3.41	+3.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APIE vs. HDMV - Sharpe Ratio Comparison

The current APIE Sharpe Ratio is 1.42, which is higher than the HDMV Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of APIE and HDMV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APIE	HDMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	0.86	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.40	+0.65

Drawdowns

APIE vs. HDMV - Drawdown Comparison

The maximum APIE drawdown since its inception was -15.94%, smaller than the maximum HDMV drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for APIE and HDMV.

Drawdown Indicators

	APIE	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-15.94%	-32.01%	+16.07%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-8.73%	-3.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.94%	-10.33%	-5.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.11%	—
Current Drawdown Current decline from peak	-1.51%	-6.05%	+4.54%
Average Drawdown Average peak-to-trough decline	-2.76%	-6.77%	+4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	2.80%	+0.57%

Volatility

APIE vs. HDMV - Volatility Comparison

ActivePassive International Equity ETF (APIE) has a higher volatility of 5.51% compared to First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) at 3.83%. This indicates that APIE's price experiences larger fluctuations and is considered to be riskier than HDMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APIE	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	3.83%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	13.05%	9.38%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.16%	11.16%	+5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.83%	12.05%	+4.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	13.24%	+3.59%

APIE vs. HDMV - Expense Ratio Comparison

APIE has a 0.45% expense ratio, which is lower than HDMV's 0.80% expense ratio.

Dividends

APIE vs. HDMV - Dividend Comparison

APIE's dividend yield for the trailing twelve months is around 3.43%, less than HDMV's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
APIE ActivePassive International Equity ETF	3.43%	3.71%	2.14%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.70%	5.09%	3.24%	3.14%	3.53%	3.11%	1.45%	3.63%	2.88%	3.23%	0.18%

Frequently Asked Questions

Can I hold both APIE and HDMV in my portfolio?

APIE and HDMV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APIE or HDMV?

APIE has higher volatility (5.51%) compared to HDMV (3.83%). In terms of maximum drawdown, APIE dropped -15.94% vs HDMV's -32.01%.

Which ETF is better, APIE or HDMV?

On 3-year performance, APIE leads with 17.90% vs 12.63% for HDMV. On fees, APIE is cheaper at 0.45% per year. On volatility, HDMV has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APIE or HDMV?

Over the 3-year period, APIE has performed better with a 17.90% return vs 12.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APIE or HDMV?

APIE is cheaper with a 0.45% expense ratio, compared with 0.80% for HDMV.

Which ETF pays a higher dividend yield, APIE or HDMV?

HDMV has the higher dividend yield at 4.70%, compared with 3.43% for APIE.

What is the main difference between APIE and HDMV?

They also come from different issuers: ActivePassive and First Trust. Their fees differ too: 0.45% for APIE and 0.80% for HDMV.

Which has better risk-adjusted returns?

APIE currently has the higher Sharpe Ratio (1.42 vs 0.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.