HFXI vs. AVDE

Last updated Jul 21, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and AVDE (Avantis International Equity ETF) are both Foreign Large Cap Equities funds. HFXI is passively managed, while AVDE is actively managed. Over the past 5 years, HFXI returned 11.89%/yr vs 10.39%/yr for AVDE. Their correlation of 0.94 suggests significant overlap in exposure. HFXI charges 0.20%/yr vs 0.23%/yr for AVDE.

Performance

HFXI vs. AVDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ 50 Percent Hedged FTSE International ETF (HFXI) and Avantis International Equity ETF (AVDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFXI achieves a 13.95% return, which is significantly higher than AVDE's 9.27% return.

HFXI

• 1D: -0.49%
• 1M: -5.10%
• 6M: 8.59%
• YTD: 13.95%
• 1Y: 29.40%
• 3Y*: 18.31%
• 5Y*: 11.89%
• 10Y*: 11.03%
• ALL TIME*: 9.15%

AVDE

• 1D: -0.73%
• 1M: -1.74%
• 6M: 5.15%
• YTD: 9.27%
• 1Y: 23.56%
• 3Y*: 17.96%
• 5Y*: 10.39%
• 10Y*: —
• ALL TIME*: 11.70%

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

HFXI vs. AVDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HFXI IQ 50 Percent Hedged FTSE International ETF	13.95%	30.10%	7.58%	19.56%	-10.71%	13.96%	6.88%	7.57%
AVDE Avantis International Equity ETF	9.27%	38.05%	4.88%	17.18%	-13.68%	13.62%	8.26%	7.95%

Correlation

The correlation between HFXI and AVDE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.94

The correlation between HFXI and AVDE has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

HFXI vs. AVDE - Sectors Allocation Comparison

Sectors	HFXI	AVDE
Financial Services	21.9%	24.9%
Industrials	19.2%	20.2%
Technology	17.9%	8.7%
Healthcare	9.0%	5.9%
Consumer Cyclical	7.9%	9.4%
Consumer Defensive	6.0%	4.5%
Basic Materials	6.0%	10.3%
Communication Services	3.5%	3.8%
Utilities	3.2%	4.0%
Energy	3.2%	6.9%
Real Estate	2.3%	1.4%

Return for Risk

HFXI vs. AVDE — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 75
HFXI Sharpe Ratio Rank: 76
HFXI Sortino Ratio Rank: 73
HFXI Omega Ratio Rank: 77
HFXI Calmar Ratio Rank: 73
HFXI Martin Ratio Rank: 75

AVDE

AVDE Risk / Return Rank: 61
AVDE Sharpe Ratio Rank: 64
AVDE Sortino Ratio Rank: 63
AVDE Omega Ratio Rank: 61
AVDE Calmar Ratio Rank: 54
AVDE Martin Ratio Rank: 62

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.

HFXI vs. AVDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and Avantis International Equity ETF (AVDE). 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.

	HFXI	AVDE	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.56	+0.25
Sortino ratio: Return per unit of downside risk	2.49	2.20	+0.29
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.06
Calmar ratio: Return relative to maximum drawdown	2.72	2.06	+0.66
Martin ratio: Return relative to average drawdown	10.22	7.96	+2.25

HFXI vs. AVDE - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 1.81, which is comparable to the AVDE Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of HFXI and AVDE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HFXI vs. AVDE - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum AVDE drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for HFXI and AVDE.

Drawdown Indicators

	HFXI	AVDE	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-36.99%	+4.57%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-11.48%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-13.46%	-0.06%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	-28.73%	+6.38%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	—	—
Current Drawdown Current decline from peak	-5.17%	-2.52%	-2.65%
Average Drawdown Average peak-to-trough decline	-5.42%	-6.08%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	2.97%	-0.09%

Volatility

HFXI vs. AVDE - Volatility Comparison

IQ 50 Percent Hedged FTSE International ETF (HFXI) has a higher volatility of 5.93% compared to Avantis International Equity ETF (AVDE) at 3.83%. This indicates that HFXI's price experiences larger fluctuations and is considered to be riskier than AVDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	AVDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	3.83%	+2.10%
Volatility (6M) Calculated over the trailing 6-month period	14.58%	13.14%	+1.44%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	15.23%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	16.35%	-1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	18.86%	-2.29%

HFXI vs. AVDE - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than AVDE's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HFXI vs. AVDE - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.40%, more than AVDE's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDE Avantis International Equity ETF	2.49%	2.66%	3.29%	3.01%	2.79%	2.46%	1.63%	0.29%	0.00%	0.00%	0.00%	0.00%
HFXI IQ 50 Percent Hedged FTSE International ETF	3.40%	4.19%	2.68%	2.49%	4.65%	3.10%	2.00%	3.19%	4.33%	2.56%	2.71%	0.78%

Frequently Asked Questions

Can I hold both HFXI and AVDE in my portfolio?

With a correlation of 0.92, HFXI and AVDE 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.

Which is riskier, HFXI or AVDE?

HFXI has higher volatility (5.93%) compared to AVDE (3.83%). In terms of maximum drawdown, HFXI dropped -32.42% vs AVDE's -36.99%.

Which ETF is better, HFXI or AVDE?

On 5-year performance, HFXI leads with 11.89% vs 10.39% for AVDE. On fees, HFXI is cheaper at 0.20% per year. On volatility, AVDE 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, HFXI or AVDE?

Over the 5-year period, HFXI has performed better with a 11.89% return vs 10.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFXI or AVDE?

HFXI is cheaper with a 0.20% expense ratio, compared with 0.23% for AVDE.

Which ETF pays a higher dividend yield, HFXI or AVDE?

HFXI has the higher dividend yield at 3.40%, compared with 2.49% for AVDE.

What is the main difference between HFXI and AVDE?

They also come from different issuers: New York Life and Avantis. Their fees differ too: 0.20% for HFXI and 0.23% for AVDE.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (1.81 vs 1.56), 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.