HFXI vs. SGOVX

Last updated Jun 23, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and SGOVX (First Eagle Overseas Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, HFXI returned 12.35%/yr vs 8.20%/yr for SGOVX. A 0.79 correlation means they provide meaningful diversification when combined. HFXI charges 0.20%/yr vs 1.16%/yr for SGOVX.

Performance

HFXI vs. SGOVX - Performance Comparison

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

Returns By Period

In the year-to-date period, HFXI achieves a 20.17% return, which is significantly higher than SGOVX's 8.36% return. Over the past 10 years, HFXI has outperformed SGOVX with an annualized return of 12.35%, while SGOVX has yielded a comparatively lower 8.20% annualized return.

HFXI

• 1D: 0.08%
• 1M: 5.03%
• YTD: 20.17%
• 6M: 20.99%
• 1Y: 40.27%
• 3Y*: 21.76%
• 5Y*: 12.98%
• 10Y*: 12.35%

SGOVX

• 1D: 0.43%
• 1M: -0.90%
• YTD: 8.36%
• 6M: 8.75%
• 1Y: 27.38%
• 3Y*: 17.39%
• 5Y*: 10.08%
• 10Y*: 8.20%

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

HFXI vs. SGOVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFXI IQ 50 Percent Hedged FTSE International ETF	20.17%	30.10%	7.58%	19.56%	-10.71%	13.96%	6.88%	23.67%	-12.69%	22.68%
SGOVX First Eagle Overseas Fund	8.36%	38.69%	6.16%	10.41%	-8.07%	4.94%	6.95%	17.60%	-10.26%	14.06%

Correlation

The correlation between HFXI and SGOVX 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 (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 22, 2015	0.79

The correlation between HFXI and SGOVX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

Return for Risk

HFXI vs. SGOVX — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 81
HFXI Sharpe Ratio Rank: 84
HFXI Sortino Ratio Rank: 83
HFXI Omega Ratio Rank: 84
HFXI Calmar Ratio Rank: 75
HFXI Martin Ratio Rank: 78

SGOVX

SGOVX Risk / Return Rank: 49
SGOVX Sharpe Ratio Rank: 58
SGOVX Sortino Ratio Rank: 50
SGOVX Omega Ratio Rank: 58
SGOVX Calmar Ratio Rank: 41
SGOVX Martin Ratio Rank: 36

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. SGOVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and First Eagle Overseas Fund (SGOVX). 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	SGOVX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.08	+0.51
Sortino ratio: Return per unit of downside risk	3.52	2.74	+0.78
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	3.73	2.32	+1.42
Martin ratio: Return relative to average drawdown	14.66	7.47	+7.19

HFXI vs. SGOVX - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.59, which is comparable to the SGOVX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of HFXI and SGOVX, 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. SGOVX - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum SGOVX drawdown of -35.68%. Use the drawdown chart below to compare losses from any high point for HFXI and SGOVX.

Drawdown Indicators

	HFXI	SGOVX	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-35.68%	+3.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-11.38%	+0.54%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-11.38%	-2.14%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	-20.42%	-1.93%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	-24.85%	-7.57%
Current Drawdown Current decline from peak	0.00%	-4.88%	+4.88%
Average Drawdown Average peak-to-trough decline	-5.44%	-4.46%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.52%	-0.77%

Volatility

HFXI vs. SGOVX - Volatility Comparison

IQ 50 Percent Hedged FTSE International ETF (HFXI) has a higher volatility of 6.27% compared to First Eagle Overseas Fund (SGOVX) at 4.12%. This indicates that HFXI's price experiences larger fluctuations and is considered to be riskier than SGOVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	SGOVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	4.12%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	10.85%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	12.67%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	11.97%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	11.46%	+5.19%

HFXI vs. SGOVX - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than SGOVX's 1.16% expense ratio.

Dividends

HFXI vs. SGOVX - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.22%, less than SGOVX's 7.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFXI IQ 50 Percent Hedged FTSE International ETF	3.22%	4.19%	2.68%	2.49%	4.65%	3.10%	2.00%	3.19%	4.33%	2.56%	2.71%	0.78%
SGOVX First Eagle Overseas Fund	7.82%	8.47%	8.43%	2.24%	3.62%	5.76%	0.21%	5.54%	3.05%	3.40%	3.59%	1.32%

Frequently Asked Questions

Can I hold both HFXI and SGOVX in my portfolio?

HFXI and SGOVX 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 SGOVX?

HFXI has higher volatility (6.27%) compared to SGOVX (4.12%). In terms of maximum drawdown, HFXI dropped -32.42% vs SGOVX's -35.68%.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (2.59 vs 2.08), 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.