HFXI vs. UTES

Last updated Jun 4, 2026

HFXI (IQ 50 Percent Hedged FTSE International ETF) and UTES (Virtus Reaves Utilities 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 UTES is a Utilities Equities fund actively managed by Virtus Investment Partners. HFXI is passively managed, while UTES is actively managed. Over the past 10 years, HFXI returned 11.47%/yr vs 12.40%/yr for UTES. At a 0.31 correlation, their price movements are largely independent. HFXI charges 0.20%/yr vs 0.49%/yr for UTES.

Performance

HFXI vs. UTES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ 50 Percent Hedged FTSE International ETF (HFXI) and Virtus Reaves Utilities ETF (UTES). 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 UTES's 0.08% return. Over the past 10 years, HFXI has underperformed UTES with an annualized return of 11.47%, while UTES has yielded a comparatively higher 12.40% 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%

UTES

• 1D: -0.98%
• 1M: -6.58%
• YTD: 0.08%
• 6M: -1.81%
• 1Y: 7.86%
• 3Y*: 22.78%
• 5Y*: 15.66%
• 10Y*: 12.40%

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

HFXI vs. UTES - 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%
UTES Virtus Reaves Utilities ETF	0.08%	25.71%	45.35%	-2.46%	0.80%	20.74%	-0.30%	25.48%	5.14%	14.21%

Correlation

The correlation between HFXI and UTES is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Sep 25, 2015	0.31

HFXI vs. UTES - Sectors Allocation Comparison

Sectors	HFXI	UTES
Financial Services	22.8%	-
Industrials	20.1%	-
Technology	14.5%	-
Healthcare	9.5%	-
Consumer Cyclical	7.7%	-
Consumer Defensive	6.3%	-
Basic Materials	5.9%	-
Energy	3.6%	-
Utilities	3.6%	100.0%
Communication Services	3.5%	-
Real Estate	2.5%	-

Return for Risk

HFXI vs. UTES — 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

UTES

UTES Risk / Return Rank: 14
UTES Sharpe Ratio Rank: 14
UTES Sortino Ratio Rank: 14
UTES Omega Ratio Rank: 14
UTES Calmar Ratio Rank: 15
UTES Martin Ratio Rank: 15

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. UTES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ 50 Percent Hedged FTSE International ETF (HFXI) and Virtus Reaves Utilities ETF (UTES). 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	UTES	Difference
Sharpe ratio: Return per unit of total volatility	2.41	0.37	+2.04
Sortino ratio: Return per unit of downside risk	3.33	0.64	+2.69
Omega ratio: Gain probability vs. loss probability	1.44	1.08	+0.37
Calmar ratio: Return relative to maximum drawdown	3.27	0.57	+2.70
Martin ratio: Return relative to average drawdown	12.97	1.30	+11.68
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. UTES - Sharpe Ratio Comparison

The current HFXI Sharpe Ratio is 2.41, which is higher than the UTES Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of HFXI and UTES, 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	UTES	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	0.37	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.76	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.62	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.70	-0.13

Drawdowns

HFXI vs. UTES - Drawdown Comparison

The maximum HFXI drawdown since its inception was -32.42%, smaller than the maximum UTES drawdown of -35.39%. Use the drawdown chart below to compare losses from any high point for HFXI and UTES.

Drawdown Indicators

	HFXI	UTES	Difference
Max Drawdown Largest peak-to-trough decline	-32.42%	-35.39%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.84%	-13.88%	+3.04%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-17.62%	+4.10%
Max Drawdown (5Y) Largest decline over 5 years	-22.35%	-20.40%	-1.95%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	-35.39%	+2.97%
Current Drawdown Current decline from peak	-0.45%	-9.26%	+8.81%
Average Drawdown Average peak-to-trough decline	-5.46%	-5.52%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	6.08%	-3.36%

Volatility

HFXI vs. UTES - Volatility Comparison

The current volatility for IQ 50 Percent Hedged FTSE International ETF (HFXI) is 5.46%, while Virtus Reaves Utilities ETF (UTES) has a volatility of 7.40%. This indicates that HFXI experiences smaller price fluctuations and is considered to be less risky than UTES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFXI	UTES	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	7.40%	-1.94%
Volatility (6M) Calculated over the trailing 6-month period	12.40%	16.95%	-4.55%
Volatility (1Y) Calculated over the trailing 1-year period	14.69%	21.27%	-6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	20.60%	-5.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	20.16%	-3.53%

HFXI vs. UTES - Expense Ratio Comparison

HFXI has a 0.20% expense ratio, which is lower than UTES's 0.49% expense ratio.

Dividends

HFXI vs. UTES - Dividend Comparison

HFXI's dividend yield for the trailing twelve months is around 3.84%, more than UTES's 1.50% 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%
UTES Virtus Reaves Utilities ETF	1.50%	1.42%	1.51%	2.44%	2.13%	1.94%	2.09%	1.84%	2.09%	3.44%	3.53%	0.61%

Frequently Asked Questions

Can I hold both HFXI and UTES in my portfolio?

HFXI and UTES have a correlation of 0.32, 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 UTES?

UTES has higher volatility (7.40%) compared to HFXI (5.46%). In terms of maximum drawdown, HFXI dropped -32.42% vs UTES's -35.39%.

Which ETF is better, HFXI or UTES?

On 10-year performance, UTES leads with 12.40% 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.

Which ETF has performed better, HFXI or UTES?

Over the 10-year period, UTES has performed better with a 12.40% return vs 11.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFXI or UTES?

HFXI is cheaper with a 0.20% expense ratio, compared with 0.49% for UTES.

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

HFXI has the higher dividend yield at 3.84%, compared with 1.50% for UTES.

What is the main difference between HFXI and UTES?

HFXI is categorized as Foreign Large Cap Equities, while UTES is Utilities Equities. They also come from different issuers: New York Life and Virtus Investment Partners. Their fees differ too: 0.20% for HFXI and 0.49% for UTES.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (2.41 vs 0.37), 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.