HFXI vs. DFIV

Last updated Jun 9, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and DFIV (Dimensional International Value ETF) are both Foreign Large Cap Equities funds. HFXI is passively managed, while DFIV is actively managed. Over the past 3 years, HFXI returned 19.41%/yr vs 23.03%/yr for DFIV. Their correlation of 0.89 suggests significant overlap in exposure. HFXI charges 0.20%/yr vs 0.27%/yr for DFIV.

Performance

HFXI vs. DFIV - Performance Comparison

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

Returns By Period

In the year-to-date period, HFXI achieves a 14.20% return, which is significantly higher than DFIV's 10.17% return.

HFXI

• 1D: 0.98%
• 1M: -0.03%
• YTD: 14.20%
• 6M: 17.07%
• 1Y: 30.93%
• 3Y*: 19.41%
• 5Y*: 11.57%
• 10Y*: 11.43%

DFIV

• 1D: 0.38%
• 1M: -0.58%
• YTD: 10.17%
• 6M: 14.07%
• 1Y: 32.57%
• 3Y*: 23.03%
• 5Y*: —
• 10Y*: —

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

HFXI vs. DFIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HFXI IQ 50 Percent Hedged FTSE International ETF	14.20%	30.10%	7.58%	19.56%	-10.71%	-0.84%
DFIV Dimensional International Value ETF	10.17%	45.36%	7.26%	17.75%	-3.70%	0.08%

Correlation

The correlation between HFXI and DFIV is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 14, 2021	0.89

The correlation between HFXI and DFIV has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

HFXI vs. DFIV - Sectors Allocation Comparison

Sectors	HFXI	DFIV
Financial Services	22.8%	32.4%
Industrials	20.1%	9.6%
Technology	14.6%	2.8%
Healthcare	9.5%	4.9%
Consumer Cyclical	7.7%	9.6%
Consumer Defensive	6.3%	4.9%
Basic Materials	5.9%	10.9%
Energy	3.6%	16.4%
Utilities	3.6%	2.5%
Communication Services	3.5%	4.2%
Real Estate	2.5%	1.8%

Return for Risk

HFXI vs. DFIV — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 68
HFXI Sharpe Ratio Rank: 70
HFXI Sortino Ratio Rank: 69
HFXI Omega Ratio Rank: 72
HFXI Calmar Ratio Rank: 64
HFXI Martin Ratio Rank: 68

DFIV

DFIV Risk / Return Rank: 78
DFIV Sharpe Ratio Rank: 81
DFIV Sortino Ratio Rank: 80
DFIV Omega Ratio Rank: 79
DFIV Calmar Ratio Rank: 74
DFIV Martin Ratio Rank: 76

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. DFIV - Risk-Adjusted Trends Comparison

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

	HFXI	DFIV	Difference
Sharpe ratio: Return per unit of total volatility	2.05	2.36	-0.31
Sortino ratio: Return per unit of downside risk	2.81	3.20	-0.39
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.87	3.39	-0.52
Martin ratio: Return relative to average drawdown	11.31	13.05	-1.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HFXI vs. DFIV - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.05, which is comparable to the DFIV Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of HFXI and DFIV, 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

	HFXI	DFIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	2.36	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.91	-0.36

Drawdowns

HFXI vs. DFIV - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, which is greater than DFIV's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for HFXI and DFIV.

Drawdown Indicators

	HFXI	DFIV	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-25.42%	-7.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-9.66%	-1.18%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-14.72%	+1.20%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	—	—
Current Drawdown Current decline from peak	-2.94%	-2.23%	-0.71%
Average Drawdown Average peak-to-trough decline	-5.45%	-4.47%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.50%	+0.24%

Volatility

HFXI vs. DFIV - Volatility Comparison

IQ 50 Percent Hedged FTSE International ETF (HFXI) has a higher volatility of 5.75% compared to Dimensional International Value ETF (DFIV) at 3.83%. This indicates that HFXI's price experiences larger fluctuations and is considered to be riskier than DFIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	DFIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	3.83%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	11.26%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	13.91%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	16.65%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	16.65%	+0.02%

HFXI vs. DFIV - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than DFIV's 0.27% 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. DFIV - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.94%, more than DFIV's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFIV Dimensional International Value ETF	2.59%	2.92%	3.88%	3.93%	3.84%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HFXI IQ 50 Percent Hedged FTSE International ETF	3.94%	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 DFIV in my portfolio?

HFXI and DFIV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFXI or DFIV?

HFXI has higher volatility (5.75%) compared to DFIV (3.83%). In terms of maximum drawdown, HFXI dropped -32.42% vs DFIV's -25.42%.

Which ETF is better, HFXI or DFIV?

On 3-year performance, DFIV leads with 23.03% vs 19.41% for HFXI. On fees, HFXI is cheaper at 0.20% per year. On volatility, DFIV 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 DFIV?

Over the 3-year period, DFIV has performed better with a 23.03% return vs 19.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFXI or DFIV?

HFXI is cheaper with a 0.20% expense ratio, compared with 0.27% for DFIV.

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

HFXI has the higher dividend yield at 3.94%, compared with 2.59% for DFIV.

What is the main difference between HFXI and DFIV?

They also come from different issuers: New York Life and Dimensional. Their fees differ too: 0.20% for HFXI and 0.27% for DFIV.

Which has better risk-adjusted returns?

DFIV currently has the higher Sharpe Ratio (2.36 vs 2.05), 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.