HFXI vs. FDEGX

Last updated Jun 9, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and FDEGX (Fidelity Growth Strategies Fund) are both funds - HFXI is a Foreign Large Cap Equities fund tracking the FTSE Developed ex North America 50% Hedged to USD Index, while FDEGX is a Mid Cap Growth Equities fund managed by Fidelity. Over the past 10 years, HFXI returned 11.43%/yr vs 11.86%/yr for FDEGX. A 0.68 correlation means they provide meaningful diversification when combined. HFXI charges 0.20%/yr vs 0.63%/yr for FDEGX.

Performance

HFXI vs. FDEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ 50 Percent Hedged FTSE International ETF (HFXI) and Fidelity Growth Strategies Fund (FDEGX). 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 FDEGX's 8.51% return. Both investments have delivered pretty close results over the past 10 years, with HFXI having a 11.43% annualized return and FDEGX not far ahead at 11.86%.

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%

FDEGX

• 1D: -3.58%
• 1M: -0.04%
• YTD: 8.51%
• 6M: -1.97%
• 1Y: 1.60%
• 3Y*: 16.17%
• 5Y*: 7.93%
• 10Y*: 11.86%

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

HFXI vs. FDEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFXI IQ 50 Percent Hedged FTSE International ETF	14.20%	30.10%	7.58%	19.56%	-10.71%	13.96%	6.88%	23.67%	-12.69%	22.68%
FDEGX Fidelity Growth Strategies Fund	8.51%	2.88%	26.57%	20.93%	-26.50%	21.30%	29.34%	36.59%	-6.92%	21.03%

Correlation

The correlation between HFXI and FDEGX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jul 23, 2015	0.68

The correlation between HFXI and FDEGX has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

Return for Risk

HFXI vs. FDEGX — 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

FDEGX

FDEGX Risk / Return Rank: 4
FDEGX Sharpe Ratio Rank: 4
FDEGX Sortino Ratio Rank: 4
FDEGX Omega Ratio Rank: 4
FDEGX Calmar Ratio Rank: 4
FDEGX Martin Ratio Rank: 4

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. FDEGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and Fidelity Growth Strategies Fund (FDEGX). 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	FDEGX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	0.13	+1.92
Sortino ratio: Return per unit of downside risk	2.81	0.33	+2.48
Omega ratio: Gain probability vs. loss probability	1.38	1.04	+0.34
Calmar ratio: Return relative to maximum drawdown	2.87	0.15	+2.72
Martin ratio: Return relative to average drawdown	11.31	0.37	+10.93
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. FDEGX - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.05, which is higher than the FDEGX Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of HFXI and FDEGX, 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	FDEGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	0.13	+1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.34	+0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.54	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.40	+0.16

Drawdowns

HFXI vs. FDEGX - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum FDEGX drawdown of -85.96%. Use the drawdown chart below to compare losses from any high point for HFXI and FDEGX.

Drawdown Indicators

	HFXI	FDEGX	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-85.96%	+53.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-20.45%	+9.61%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-26.04%	+12.52%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	-36.62%	+14.27%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	-36.62%	+4.20%
Current Drawdown Current decline from peak	-2.94%	-6.93%	+3.99%
Average Drawdown Average peak-to-trough decline	-5.45%	-36.82%	+31.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	8.01%	-5.27%

Volatility

HFXI vs. FDEGX - Volatility Comparison

The current volatility for IQ 50 Percent Hedged FTSE International ETF (HFXI) is 5.75%, while Fidelity Growth Strategies Fund (FDEGX) has a volatility of 6.56%. This indicates that HFXI experiences smaller price fluctuations and is considered to be less risky than FDEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	FDEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	6.56%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	19.21%	-6.24%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	22.26%	-7.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	23.35%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.67%	22.07%	-5.40%

HFXI vs. FDEGX - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than FDEGX's 0.63% expense ratio.

Dividends

HFXI vs. FDEGX - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.94%, while FDEGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDEGX Fidelity Growth Strategies Fund	0.00%	0.00%	7.89%	0.05%	0.00%	14.15%	8.37%	3.65%	0.75%	0.05%	0.59%	0.13%
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 FDEGX in my portfolio?

HFXI and FDEGX have a correlation of 0.64, 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 FDEGX?

FDEGX has higher volatility (6.56%) compared to HFXI (5.75%). In terms of maximum drawdown, HFXI dropped -32.42% vs FDEGX's -85.96%.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (2.05 vs 0.13), 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.