CEFA vs. IDHQ
CEFA (Global X S&P Catholic Values Developed ex-U.S. ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both Foreign Large Cap Equities funds - CEFA tracks the S&P Developed ex-U.S. Catholic Values Index while IDHQ tracks the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. Both are passively managed. Over the past 5 years, CEFA returned 7.14%/yr vs 9.11%/yr for IDHQ. A 0.76 correlation means they provide meaningful diversification when combined. CEFA charges 0.35%/yr vs 0.29%/yr for IDHQ.
Performance
CEFA vs. IDHQ - Performance Comparison
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Returns By Period
In the year-to-date period, CEFA achieves a 8.31% return, which is significantly lower than IDHQ's 23.96% return.
CEFA
- 1D
- -0.89%
- 1M
- -0.24%
- 6M
- 4.98%
- YTD
- 8.31%
- 1Y
- 18.73%
- 3Y*
- 13.88%
- 5Y*
- 7.14%
- 10Y*
- —
IDHQ
- 1D
- -1.06%
- 1M
- 3.48%
- 6M
- 17.70%
- YTD
- 23.96%
- 1Y
- 34.45%
- 3Y*
- 18.63%
- 5Y*
- 9.11%
- 10Y*
- 10.54%
CEFA vs. IDHQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF | 8.31% | 26.46% | 5.03% | 17.40% | -16.66% | 7.97% | 21.61% |
IDHQ Invesco S&P International Developed High Quality ETF | 23.96% | 27.46% | 1.33% | 18.80% | -20.23% | 11.38% | 18.62% |
Correlation
The correlation between CEFA and IDHQ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2020 | 0.76 |
The correlation between CEFA and IDHQ shifts across timeframes, from 0.76 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CEFA vs. IDHQ — Risk / Return Rank
CEFA
IDHQ
CEFA vs. IDHQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) and Invesco S&P International Developed High Quality ETF (IDHQ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEFA | IDHQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.31 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.58 | -0.94 |
| Martin ratioReturn relative to average drawdown | 5.94 | 10.14 | -4.20 |
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Drawdowns
CEFA vs. IDHQ - Drawdown Comparison
The maximum CEFA drawdown since its inception was -31.97%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for CEFA and IDHQ.
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Drawdown Indicators
| CEFA | IDHQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.97% | -73.84% | +41.87% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -13.44% | +1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | -14.07% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -31.97% | -33.54% | +1.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.54% | — |
Current DrawdownCurrent decline from peak | -1.69% | -2.57% | +0.88% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -21.09% | +14.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 3.41% | -0.25% |
Volatility
CEFA vs. IDHQ - Volatility Comparison
The current volatility for Global X S&P Catholic Values Developed ex-U.S. ETF (CEFA) is 5.09%, while Invesco S&P International Developed High Quality ETF (IDHQ) has a volatility of 7.92%. This indicates that CEFA experiences smaller price fluctuations and is considered to be less risky than IDHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEFA | IDHQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 7.92% | -2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 13.83% | 18.93% | -5.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 20.78% | -4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 17.85% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.23% | 17.97% | -0.74% |
CEFA vs. IDHQ - Expense Ratio Comparison
CEFA has a 0.35% expense ratio, which is higher than IDHQ's 0.29% expense ratio.
Dividends
CEFA vs. IDHQ - Dividend Comparison
CEFA's dividend yield for the trailing twelve months is around 2.74%, more than IDHQ's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF | 2.74% | 2.86% | 3.26% | 2.35% | 2.35% | 3.49% | 0.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IDHQ Invesco S&P International Developed High Quality ETF | 2.04% | 2.46% | 2.41% | 2.52% | 3.33% | 2.10% | 1.60% | 2.10% | 2.67% | 1.68% | 2.36% | 1.71% |
Frequently Asked Questions
With a correlation of 0.91, CEFA and IDHQ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IDHQ has higher volatility (7.92%) compared to CEFA (5.09%). In terms of maximum drawdown, CEFA dropped -31.97% vs IDHQ's -73.84%.
On 5-year performance, IDHQ leads with 9.11% vs 7.14% for CEFA. On fees, IDHQ is cheaper at 0.29% per year. On volatility, CEFA has been the lower-risk option at 5.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IDHQ has performed better with a 9.11% return vs 7.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IDHQ is cheaper with a 0.29% expense ratio, compared with 0.35% for CEFA.
CEFA has the higher dividend yield at 2.74%, compared with 2.04% for IDHQ.
CEFA tracks S&P Developed ex-U.S. Catholic Values Index, while IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.35% for CEFA and 0.29% for IDHQ.
IDHQ currently has the higher Sharpe Ratio (1.67 vs 1.17), 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.
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