HFXI vs. ULTR

Last updated Apr 2, 2026

Compare and contrast key facts about IQ 50 Percent Hedged FTSE International ETF (HFXI) and IQ Ultra Short Duration ETF (ULTR).

HFXI and ULTR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFXI is a passively managed fund by New York Life that tracks the performance of the FTSE Developed ex North America 50% Hedged to USD Index. It was launched on Jul 22, 2015. ULTR is an actively managed fund by New York Life. It was launched on Jul 31, 2019.

Performance

HFXI vs. ULTR - Performance Comparison

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

HFXI vs. ULTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HFXI IQ 50 Percent Hedged FTSE International ETF	5.79%	30.10%	7.58%	19.56%	-10.71%	13.96%	6.88%	8.80%
ULTR IQ Ultra Short Duration ETF	0.00%	0.00%	1.34%	5.48%	0.21%	0.14%	0.84%	1.19%

Returns By Period

HFXI

• 1D: 1.94%
• 1M: -4.46%
• YTD: 5.79%
• 6M: 12.16%
• 1Y: 30.04%
• 3Y*: 17.64%
• 5Y*: 11.01%
• 10Y*: 10.70%

ULTR

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

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

HFXI vs. ULTR - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than ULTR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

ULTR

IQ Ultra Short Duration ETF

HFXI

IQ 50 Percent Hedged FTSE International ETF

Return for Risk

HFXI vs. ULTR — Risk / Return Rank

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

HFXI

HFXI Risk / Return Rank: 86
HFXI Sharpe Ratio Rank: 85
HFXI Sortino Ratio Rank: 87
HFXI Omega Ratio Rank: 87
HFXI Calmar Ratio Rank: 86
HFXI 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. ULTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and IQ Ultra Short Duration ETF (ULTR). 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	ULTR	Difference
Sharpe ratio Return per unit of total volatility	1.80	—	—
Sortino ratio Return per unit of downside risk	2.46	—	—
Omega ratio Gain probability vs. loss probability	1.37	—	—
Calmar ratio Return relative to maximum drawdown	2.78	—	—
Martin ratio Return relative to average drawdown	10.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HFXI	ULTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	—	—

Correlation

The correlation between HFXI and ULTR is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HFXI vs. ULTR - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 4.25%, while ULTR has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFXI IQ 50 Percent Hedged FTSE International ETF	4.25%	4.19%	2.68%	2.49%	4.65%	3.10%	2.00%	3.19%	4.33%	2.56%	2.71%	0.78%
ULTR IQ Ultra Short Duration ETF	0.00%	0.00%	1.12%	4.50%	2.43%	2.26%	1.90%	1.03%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	HFXI	ULTR	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	—	—
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	-6.18%	—	—
Average Drawdown Average peak-to-trough decline	-5.52%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	—	—

Volatility

Volatility by Period

	HFXI	ULTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.61%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	—	—