HFND vs. VWO
HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - HFND is a Multistrategy fund actively managed by Tidal ETFs, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. HFND is actively managed, while VWO is passively managed. Over the past 3 years, HFND returned 9.72%/yr vs 17.42%/yr for VWO. A 0.69 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 0.08%/yr for VWO.
Performance
HFND vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, HFND achieves a 8.16% return, which is significantly lower than VWO's 10.55% return.
HFND
- 1D
- -1.30%
- 1M
- 0.72%
- YTD
- 8.16%
- 6M
- 7.80%
- 1Y
- 17.63%
- 3Y*
- 9.72%
- 5Y*
- —
- 10Y*
- —
VWO
- 1D
- -3.07%
- 1M
- 0.76%
- YTD
- 10.55%
- 6M
- 10.67%
- 1Y
- 27.03%
- 3Y*
- 17.42%
- 5Y*
- 5.09%
- 10Y*
- 8.97%
HFND vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HFND Unlimited HFND Multi-Strategy Return Tracker ETF | 8.16% | 8.93% | 8.34% | 3.58% | 2.28% |
VWO Vanguard FTSE Emerging Markets ETF | 10.55% | 25.60% | 10.59% | 9.25% | 8.15% |
Correlation
The correlation between HFND and VWO is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2022 | 0.69 |
The correlation between HFND and VWO has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.
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Return for Risk
HFND vs. VWO — Risk / Return Rank
HFND
VWO
HFND vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Vanguard FTSE Emerging Markets ETF (VWO). 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.
| HFND | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.30 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 2.43 | +1.15 |
| Martin ratioReturn relative to average drawdown | 13.09 | 8.56 | +4.53 |
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Drawdowns
HFND vs. VWO - Drawdown Comparison
The maximum HFND drawdown since its inception was -13.31%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for HFND and VWO.
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Drawdown Indicators
| HFND | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.31% | -67.68% | +54.37% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -11.17% | +6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.31% | -17.37% | +4.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.39% | — |
Current DrawdownCurrent decline from peak | -1.30% | -3.07% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -15.79% | +13.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 3.17% | -1.82% |
Volatility
HFND vs. VWO - Volatility Comparison
The current volatility for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is 3.37%, while Vanguard FTSE Emerging Markets ETF (VWO) has a volatility of 7.37%. This indicates that HFND experiences smaller price fluctuations and is considered to be less risky than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HFND | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 7.37% | -4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 8.11% | 14.62% | -6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.82% | 16.94% | -7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.53% | 17.58% | -8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.53% | 19.18% | -9.65% |
HFND vs. VWO - Expense Ratio Comparison
HFND has a 1.22% expense ratio, which is higher than VWO's 0.08% expense ratio.
Dividends
HFND vs. VWO - Dividend Comparison
HFND's dividend yield for the trailing twelve months is around 4.70%, more than VWO's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HFND Unlimited HFND Multi-Strategy Return Tracker ETF | 4.70% | 5.08% | 3.70% | 1.41% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.33% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Frequently Asked Questions
HFND and VWO have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWO has higher volatility (7.37%) compared to HFND (3.37%). In terms of maximum drawdown, HFND dropped -13.31% vs VWO's -67.68%.
On 3-year performance, VWO leads with 17.42% vs 9.72% for HFND. On fees, VWO is cheaper at 0.08% per year. On volatility, HFND has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VWO has performed better with a 17.42% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWO is cheaper with a 0.08% expense ratio, compared with 1.22% for HFND.
HFND has the higher dividend yield at 4.70%, compared with 2.33% for VWO.
HFND is categorized as Multistrategy, while VWO is Emerging Markets Equities. They also come from different issuers: Tidal ETFs and Vanguard. Their fees differ too: 1.22% for HFND and 0.08% for VWO.
HFND currently has the higher Sharpe Ratio (1.80 vs 1.60), 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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