HFXI vs. TYHYX

Last updated Jun 4, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and TYHYX (Pioneer High Yield 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 TYHYX is a High Yield Bonds fund managed by Amundi. Over the past 10 years, HFXI returned 11.47%/yr vs 4.84%/yr for TYHYX. At a 0.48 correlation, their price movements are largely independent. HFXI charges 0.20%/yr vs 0.85%/yr for TYHYX.

Performance

HFXI vs. TYHYX - Performance Comparison

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

Returns By Period

In the year-to-date period, HFXI achieves a 17.13% return, which is significantly higher than TYHYX's 1.96% return. Over the past 10 years, HFXI has outperformed TYHYX with an annualized return of 11.47%, while TYHYX has yielded a comparatively lower 4.84% 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%

TYHYX

• 1D: 0.00%
• 1M: 0.50%
• YTD: 1.96%
• 6M: 2.56%
• 1Y: 7.57%
• 3Y*: 7.38%
• 5Y*: 3.10%
• 10Y*: 4.84%

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

HFXI vs. TYHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
TYHYX Pioneer High Yield Fund	1.96%	7.99%	6.55%	9.17%	-11.19%	5.99%	3.35%	14.36%	-3.30%	7.87%

Correlation

The correlation between HFXI and TYHYX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 23, 2015	0.48

Return for Risk

HFXI vs. TYHYX — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 71
HFXI Sharpe Ratio Rank: 73
HFXI Sortino Ratio Rank: 73
HFXI Omega Ratio Rank: 74
HFXI Calmar Ratio Rank: 65
HFXI Martin Ratio Rank: 70

TYHYX

TYHYX Risk / Return Rank: 75
TYHYX Sharpe Ratio Rank: 62
TYHYX Sortino Ratio Rank: 84
TYHYX Omega Ratio Rank: 83
TYHYX Calmar Ratio Rank: 64
TYHYX Martin Ratio Rank: 81

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. TYHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and Pioneer High Yield Fund (TYHYX). 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	TYHYX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.32	+0.09
Sortino ratio: Return per unit of downside risk	3.33	3.97	-0.64
Omega ratio: Gain probability vs. loss probability	1.44	1.56	-0.11
Calmar ratio: Return relative to maximum drawdown	3.27	3.10	+0.17
Martin ratio: Return relative to average drawdown	12.97	15.29	-2.32
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. TYHYX - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.41, which is comparable to the TYHYX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of HFXI and TYHYX, 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	TYHYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.32	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.70	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.93	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.92	-0.35

Drawdowns

HFXI vs. TYHYX - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum TYHYX drawdown of -40.86%. Use the drawdown chart below to compare losses from any high point for HFXI and TYHYX.

Drawdown Indicators

	HFXI	TYHYX	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-40.86%	+8.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-2.49%	-8.35%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-4.19%	-9.33%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	-14.11%	-8.24%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	-23.73%	-8.69%
Current Drawdown Current decline from peak	-0.45%	0.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-5.46%	-3.98%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	0.50%	+2.22%

Volatility

HFXI vs. TYHYX - Volatility Comparison

IQ 50 Percent Hedged FTSE International ETF (HFXI) has a higher volatility of 5.46% compared to Pioneer High Yield Fund (TYHYX) at 1.03%. This indicates that HFXI's price experiences larger fluctuations and is considered to be riskier than TYHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	TYHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	1.03%	+4.43%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	2.77%	+9.63%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	3.33%	+11.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	4.46%	+10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	5.23%	+11.40%

HFXI vs. TYHYX - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than TYHYX's 0.85% expense ratio.

Dividends

HFXI vs. TYHYX - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.84%, less than TYHYX's 5.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
TYHYX Pioneer High Yield Fund	5.81%	5.91%	4.13%	4.10%	5.23%	4.44%	5.23%	5.17%	5.13%	4.97%	5.12%	6.29%

Frequently Asked Questions

Can I hold both HFXI and TYHYX in my portfolio?

HFXI and TYHYX have a correlation of 0.42, 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 TYHYX?

HFXI has higher volatility (5.46%) compared to TYHYX (1.03%). In terms of maximum drawdown, HFXI dropped -32.42% vs TYHYX's -40.86%.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (2.41 vs 2.32), 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.