HFXI vs. GMOI

Last updated Jun 25, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds - HFXI tracks the FTSE Developed ex North America 50% Hedged to USD Index while GMOI tracks the MSCI World ex USA Value. Both are passively managed. Over the past year, HFXI returned 33.60% vs 33.28% for GMOI. Their correlation of 0.82 suggests significant overlap in exposure. HFXI charges 0.20%/yr vs 0.60%/yr for GMOI.

Performance

HFXI vs. GMOI - Performance Comparison

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

Returns By Period

In the year-to-date period, HFXI achieves a 16.65% return, which is significantly higher than GMOI's 10.90% return.

HFXI

• 1D: 0.40%
• 1M: 1.96%
• YTD: 16.65%
• 6M: 16.58%
• 1Y: 33.60%
• 3Y*: 20.56%
• 5Y*: 12.14%
• 10Y*: 12.02%

GMOI

• 1D: -0.56%
• 1M: -2.31%
• YTD: 10.90%
• 6M: 10.45%
• 1Y: 33.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFXI vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HFXI IQ 50 Percent Hedged FTSE International ETF	16.65%	30.10%	-2.97%
GMOI GMO International Value ETF	10.90%	45.64%	-4.48%

Correlation

The correlation between HFXI and GMOI is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.82

The correlation between HFXI and GMOI has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

HFXI vs. GMOI — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 73
HFXI Sharpe Ratio Rank: 74
HFXI Sortino Ratio Rank: 72
HFXI Omega Ratio Rank: 77
HFXI Calmar Ratio Rank: 70
HFXI Martin Ratio Rank: 73

GMOI

GMOI Risk / Return Rank: 85
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 87
GMOI Omega Ratio Rank: 83
GMOI Calmar Ratio Rank: 83
GMOI Martin Ratio Rank: 85

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. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and GMO International Value ETF (GMOI). 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	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.50	-0.38
Sortino ratio: Return per unit of downside risk	2.88	3.47	-0.59
Omega ratio: Gain probability vs. loss probability	1.40	1.44	-0.04
Calmar ratio: Return relative to maximum drawdown	3.11	4.00	-0.88
Martin ratio: Return relative to average drawdown	12.17	15.67	-3.50

HFXI vs. GMOI - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.12, which is comparable to the GMOI Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of HFXI and GMOI, 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. GMOI - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for HFXI and GMOI.

Drawdown Indicators

	HFXI	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-14.67%	-17.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-8.36%	-2.48%
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	-2.92%	-3.18%	+0.26%
Average Drawdown Average peak-to-trough decline	-5.44%	-1.69%	-3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.13%	+0.64%

Volatility

HFXI vs. GMOI - Volatility Comparison

IQ 50 Percent Hedged FTSE International ETF (HFXI) has a higher volatility of 7.21% compared to GMO International Value ETF (GMOI) at 4.00%. This indicates that HFXI's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.21%	4.00%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	14.05%	10.69%	+3.36%
Volatility (1Y) Calculated over the trailing 1-year period	16.00%	13.41%	+2.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	15.56%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.57%	15.56%	+1.01%

HFXI vs. GMOI - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than GMOI's 0.60% expense ratio.

Dividends

HFXI vs. GMOI - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.32%, more than GMOI's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOI GMO International Value ETF	2.47%	2.74%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HFXI IQ 50 Percent Hedged FTSE International ETF	3.32%	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 GMOI in my portfolio?

HFXI and GMOI have a correlation of 0.83, 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 GMOI?

HFXI has higher volatility (7.21%) compared to GMOI (4.00%). In terms of maximum drawdown, HFXI dropped -32.42% vs GMOI's -14.67%.

Which ETF is better, HFXI or GMOI?

On 1-year performance, HFXI leads with 33.60% vs 33.28% for GMOI. On fees, HFXI is cheaper at 0.20% per year. On volatility, GMOI has been the lower-risk option at 4.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFXI or GMOI?

Over the 1-year period, HFXI has performed better with a 33.60% return vs 33.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFXI or GMOI?

HFXI is cheaper with a 0.20% expense ratio, compared with 0.60% for GMOI.

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

HFXI has the higher dividend yield at 3.32%, compared with 2.47% for GMOI.

What is the main difference between HFXI and GMOI?

HFXI tracks FTSE Developed ex North America 50% Hedged to USD Index, while GMOI tracks MSCI World ex USA Value. They also come from different issuers: New York Life and GMO. Their fees differ too: 0.20% for HFXI and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.50 vs 2.12), 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.