HFQAX vs. IGRO

Last updated Apr 2, 2026

Compare and contrast key facts about Janus Henderson Global Equity Income Fund (HFQAX) and iShares International Dividend Growth ETF (IGRO).

HFQAX is managed by Janus Henderson. It was launched on Nov 29, 2006. IGRO is a passively managed fund by iShares that tracks the performance of the Morningstar Global ex-US Dividend Growth Index. It was launched on May 17, 2016.

Performance

HFQAX vs. IGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Global Equity Income Fund (HFQAX) and iShares International Dividend Growth ETF (IGRO). The values are adjusted to include any dividend payments, if applicable.

HFQAX vs. IGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFQAX Janus Henderson Global Equity Income Fund	4.53%	29.61%	6.86%	10.17%	-6.59%	12.45%	1.66%	20.87%	-15.86%	19.14%
IGRO iShares International Dividend Growth ETF	2.71%	25.03%	7.78%	15.38%	-12.72%	9.94%	7.71%	26.13%	-14.86%	24.64%

Returns By Period

In the year-to-date period, HFQAX achieves a 4.53% return, which is significantly higher than IGRO's 2.71% return.

HFQAX

• 1D: 0.79%
• 1M: -6.85%
• YTD: 4.53%
• 6M: 10.33%
• 1Y: 25.21%
• 3Y*: 15.35%
• 5Y*: 9.75%
• 10Y*: 7.94%

IGRO

• 1D: 1.12%
• 1M: -4.08%
• YTD: 2.71%
• 6M: 6.64%
• 1Y: 19.89%
• 3Y*: 14.77%
• 5Y*: 7.97%
• 10Y*: —

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

HFQAX vs. IGRO - Expense Ratio Comparison

HFQAX has a 1.24% expense ratio, which is higher than IGRO's 0.22% expense ratio.

HFQAX

Janus Henderson Global Equity Income Fund

IGRO

iShares International Dividend Growth ETF

Return for Risk

HFQAX vs. IGRO — Risk / Return Rank

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

HFQAX

HFQAX Risk / Return Rank: 89
HFQAX Sharpe Ratio Rank: 91
HFQAX Sortino Ratio Rank: 88
HFQAX Omega Ratio Rank: 89
HFQAX Calmar Ratio Rank: 88
HFQAX Martin Ratio Rank: 86

IGRO

IGRO Risk / Return Rank: 73
IGRO Sharpe Ratio Rank: 75
IGRO Sortino Ratio Rank: 73
IGRO Omega Ratio Rank: 72
IGRO Calmar Ratio Rank: 74
IGRO Martin Ratio Rank: 71

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.

HFQAX vs. IGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Global Equity Income Fund (HFQAX) and iShares International Dividend Growth ETF (IGRO). 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.

	HFQAX	IGRO	Difference
Sharpe ratio Return per unit of total volatility	1.99	1.39	+0.61
Sortino ratio Return per unit of downside risk	2.48	1.90	+0.58
Omega ratio Gain probability vs. loss probability	1.40	1.28	+0.12
Calmar ratio Return relative to maximum drawdown	2.46	2.00	+0.46
Martin ratio Return relative to average drawdown	9.39	7.68	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFQAX vs. IGRO - Sharpe Ratio Comparison

The current HFQAX Sharpe Ratio is 1.99, which is higher than the IGRO Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of HFQAX and IGRO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HFQAX	IGRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.39	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.58	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.52	-0.21

Correlation

The correlation between HFQAX and IGRO is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HFQAX vs. IGRO - Dividend Comparison

HFQAX's dividend yield for the trailing twelve months is around 5.06%, more than IGRO's 2.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFQAX Janus Henderson Global Equity Income Fund	5.06%	6.59%	7.96%	7.89%	8.02%	6.92%	7.25%	6.80%	7.66%	6.03%	6.77%	6.60%
IGRO iShares International Dividend Growth ETF	2.48%	2.51%	2.44%	2.79%	2.69%	2.27%	2.41%	2.65%	2.97%	2.43%	1.18%	0.00%

Drawdowns

HFQAX vs. IGRO - Drawdown Comparison

The maximum HFQAX drawdown since its inception was -52.77%, which is greater than IGRO's maximum drawdown of -36.25%. Use the drawdown chart below to compare losses from any high point for HFQAX and IGRO.

Drawdown Indicators

	HFQAX	IGRO	Difference
Max Drawdown Largest peak-to-trough decline	-52.77%	-36.25%	-16.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-10.00%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-21.83%	-26.04%	+4.21%
Max Drawdown (10Y) Largest decline over 10 years	-34.79%	—	—
Current Drawdown Current decline from peak	-8.30%	-5.69%	-2.61%
Average Drawdown Average peak-to-trough decline	-10.93%	-5.74%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.61%	+0.04%

Volatility

HFQAX vs. IGRO - Volatility Comparison

The current volatility for Janus Henderson Global Equity Income Fund (HFQAX) is 5.26%, while iShares International Dividend Growth ETF (IGRO) has a volatility of 6.28%. This indicates that HFQAX experiences smaller price fluctuations and is considered to be less risky than IGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFQAX	IGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	6.28%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	8.24%	9.48%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	14.41%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.88%	13.83%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	16.89%	-2.21%