HFXI vs. FIVFX

Last updated Jul 21, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and FIVFX (Fidelity International Capital Appreciation Fund) are both Foreign Large Cap Equities funds. A 0.77 correlation means they provide meaningful diversification when combined. HFXI charges 0.20%/yr vs 1.00%/yr for FIVFX.

Performance

HFXI vs. FIVFX - 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 International Capital Appreciation Fund (FIVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

FIVFX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

HFXI vs. FIVFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFXI IQ 50 Percent Hedged FTSE International ETF	13.95%	30.10%	7.58%	19.56%	-10.71%	13.96%	6.88%	23.67%	-12.69%	22.68%
FIVFX Fidelity International Capital Appreciation Fund	0.00%	19.54%	8.05%	27.58%	-26.48%	12.14%	22.32%	33.05%	-12.87%	35.81%

Correlation

The correlation between HFXI and FIVFX is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jul 22, 2015	0.77

Over the past year, the correlation between HFXI and FIVFX has dropped to 0.07 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

HFXI vs. FIVFX — 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

FIVFX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. FIVFX - 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 International Capital Appreciation Fund (FIVFX). 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	FIVFX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.49	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.72	—	—
Martin ratio: Return relative to average drawdown	10.22	—	—

Drawdowns

Drawdown Indicators

	HFXI	FIVFX	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	—	—
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	-5.17%	—	—
Average Drawdown Average peak-to-trough decline	-5.42%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	—	—

Volatility

Volatility by Period

	HFXI	FIVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	—	—

HFXI vs. FIVFX - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than FIVFX's 1.00% expense ratio.

Dividends

HFXI vs. FIVFX - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.40%, while FIVFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIVFX Fidelity International Capital Appreciation Fund	10.67%	10.67%	4.19%	0.38%	0.05%	9.08%	1.28%	3.29%	3.00%	2.99%	0.68%	1.57%
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 FIVFX in my portfolio?

HFXI and FIVFX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.