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HFXI vs. IYW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HFXI vs. IYW

Last updated Jun 4, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - HFXI is a Foreign Large Cap Equities fund tracking the FTSE Developed ex North America 50% Hedged to USD Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, HFXI returned 11.47%/yr vs 26.11%/yr for IYW. A 0.65 correlation means they provide meaningful diversification when combined. HFXI charges 0.20%/yr vs 0.38%/yr for IYW.

Performance

HFXI vs. IYW - Performance Comparison

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

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Returns By Period

In the year-to-date period, HFXI achieves a 17.13% return, which is significantly lower than IYW's 29.03% return. Over the past 10 years, HFXI has underperformed IYW with an annualized return of 11.47%, while IYW has yielded a comparatively higher 26.11% annualized return.

HFXI

1D
-0.45%
1M
7.03%
YTD
17.13%
6M
20.26%
1Y
35.26%
3Y*
20.46%
5Y*
12.14%
10Y*
11.47%

IYW

1D
-0.92%
1M
16.53%
YTD
29.03%
6M
28.22%
1Y
59.52%
3Y*
35.24%
5Y*
22.87%
10Y*
26.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HFXI vs. IYW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HFXI
IQ 50 Percent Hedged FTSE International ETF		17.13%30.10%7.58%19.56%-10.71%13.96%6.88%23.67%-12.69%22.68%
IYW
iShares U.S. Technology ETF		29.03%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%

Correlation

The correlation between HFXI and IYW is 0.62, 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

0.62

Correlation (3Y)
Calculated over the trailing 3-year period

0.61

Correlation (5Y)
Calculated over the trailing 5-year period

0.67

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since Jul 23, 2015

0.65

The correlation between HFXI and IYW has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

IQ 50 Percent Hedged FTSE International ETF

iShares U.S. Technology ETF

Often compared with HFXI:
HFXI vs. DBAWHFXI vs. FLKRHFXI vs. FFLCHFXI vs. DBEFHFXI vs. VIGIHFXI vs. IQSIHFXI vs. SGOVX
Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. IWFIYW vs. SOXX

Return for Risk

HFXI vs. IYW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HFXI
HFXI Risk / Return Rank: 7171
Overall Rank
HFXI Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
HFXI Sortino Ratio Rank: 7373
Sortino Ratio Rank
HFXI Omega Ratio Rank: 7474
Omega Ratio Rank
HFXI Calmar Ratio Rank: 6565
Calmar Ratio Rank
HFXI Martin Ratio Rank: 7070
Martin Ratio Rank
IYW
IYW Risk / Return Rank: 7575
Overall Rank
IYW Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IYW Omega Ratio Rank: 8080
Omega Ratio Rank
IYW Calmar Ratio Rank: 6666
Calmar Ratio Rank
IYW Martin Ratio Rank: 6060
Martin Ratio Rank
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. IYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and iShares U.S. Technology ETF (IYW). 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.

HFXIIYWDifference
Sharpe ratioReturn per unit of total volatility
2.41
2.98

-0.57

Sortino ratioReturn per unit of downside risk
3.33
3.70

-0.36

Omega ratioGain probability vs. loss probability

1.44

1.48

-0.04

Calmar ratioReturn relative to maximum drawdown

3.27

3.36

-0.09

Martin ratioReturn relative to average drawdown

12.97

11.00

+1.98

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. IYW - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.41, which is comparable to the IYW Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of HFXI and IYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

HFXIIYWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.41

2.98

-0.57

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.82

0.89

-0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.69

1.04

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.57

0.35

+0.22

Drawdowns

HFXI vs. IYW - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for HFXI and IYW.

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Drawdown Indicators

HFXIIYWDifference

Max Drawdown

Largest peak-to-trough decline

-32.42%

-81.90%

+49.48%

Max Drawdown (1Y)

Largest decline over 1 year

-10.84%

-17.81%

+6.97%

Max Drawdown (3Y)

Largest decline over 3 years

-13.52%

-26.47%

+12.95%

Max Drawdown (5Y)

Largest decline over 5 years

-22.35%

-39.44%

+17.09%

Max Drawdown (10Y)

Largest decline over 10 years

-32.42%

-39.44%

+7.02%

Current Drawdown

Current decline from peak

-0.45%

-0.92%

+0.47%

Average Drawdown

Average peak-to-trough decline

-5.46%

-34.66%

+29.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

5.43%

-2.71%

Volatility

HFXI vs. IYW - Volatility Comparison

The current volatility for IQ 50 Percent Hedged FTSE International ETF (HFXI) is 5.46%, while iShares U.S. Technology ETF (IYW) has a volatility of 6.30%. This indicates that HFXI experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HFXIIYWDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.46%

6.30%

-0.84%

Volatility (6M)

Calculated over the trailing 6-month period

12.40%

15.85%

-3.45%

Volatility (1Y)

Calculated over the trailing 1-year period

14.69%

20.09%

-5.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.85%

25.87%

-11.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.63%

25.09%

-8.46%

HFXI vs. IYW - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than IYW's 0.38% expense ratio.

Dividends

HFXI vs. IYW - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.84%, more than IYW's 0.11% yield.

PositionTTM20252024202320222021202020192018201720162015
HFXI
IQ 50 Percent Hedged FTSE International ETF		3.84%4.19%2.68%2.49%4.65%3.10%2.00%3.19%4.33%2.56%2.71%0.78%
IYW
iShares U.S. Technology ETF		0.11%0.14%0.21%0.34%0.50%0.31%0.56%0.72%0.92%0.82%1.14%1.12%

Frequently Asked Questions

HFXI and IYW have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYW has higher volatility (6.30%) compared to HFXI (5.46%). In terms of maximum drawdown, HFXI dropped -32.42% vs IYW's -81.90%.

On 10-year performance, IYW leads with 26.11% vs 11.47% for HFXI. On fees, HFXI is cheaper at 0.20% per year. On volatility, HFXI has been the lower-risk option at 5.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYW has performed better with a 26.11% return vs 11.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

HFXI is cheaper with a 0.20% expense ratio, compared with 0.38% for IYW.

HFXI has the higher dividend yield at 3.84%, compared with 0.11% for IYW.

HFXI is categorized as Foreign Large Cap Equities, while IYW is Technology Equities. HFXI tracks FTSE Developed ex North America 50% Hedged to USD Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: New York Life and iShares. Their fees differ too: 0.20% for HFXI and 0.38% for IYW.

IYW currently has the higher Sharpe Ratio (2.98 vs 2.41), 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.

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