IFV vs. HDMV

Last updated Jun 4, 2026

IFV (First Trust Dorsey Wright International Focus 5 ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both Foreign Large Cap Equities funds from First Trust. IFV is passively managed, while HDMV is actively managed. Over the past 5 years, IFV returned 4.76%/yr vs 6.31%/yr for HDMV. A 0.71 correlation means they provide meaningful diversification when combined. IFV charges 1.06%/yr vs 0.80%/yr for HDMV.

Performance

IFV vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright International Focus 5 ETF (IFV) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IFV achieves a 12.94% return, which is significantly higher than HDMV's 4.23% return.

IFV

• 1D: -0.63%
• 1M: 3.11%
• YTD: 12.94%
• 6M: 16.30%
• 1Y: 29.74%
• 3Y*: 19.18%
• 5Y*: 4.76%
• 10Y*: 7.10%

HDMV

• 1D: -0.67%
• 1M: -1.37%
• YTD: 4.23%
• 6M: 5.97%
• 1Y: 9.53%
• 3Y*: 12.63%
• 5Y*: 6.31%
• 10Y*: —

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

IFV vs. HDMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IFV First Trust Dorsey Wright International Focus 5 ETF	12.94%	32.26%	0.33%	20.45%	-25.39%	5.59%	6.15%	26.29%	-20.44%	32.58%
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.23%	29.31%	2.99%	9.62%	-11.47%	7.39%	-9.42%	15.00%	-7.60%	27.49%

Correlation

The correlation between IFV and HDMV is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Aug 29, 2016	0.71

The correlation between IFV and HDMV has been stable across timeframes, ranging from 0.67 to 0.71 - a consistent structural relationship.

IFV vs. HDMV - Sectors Allocation Comparison

Sectors	IFV	HDMV
Industrials	31.1%	15.2%
Financial Services	11.6%	24.4%
Basic Materials	10.3%	1.0%
Consumer Cyclical	9.3%	2.7%
Energy	8.5%	1.8%
Technology	7.5%	0.9%
Real Estate	6.1%	13.8%
Utilities	5.4%	14.6%
Healthcare	4.0%	3.1%
Consumer Defensive	3.9%	13.0%
Communication Services	2.6%	9.4%

Return for Risk

IFV vs. HDMV — Risk / Return Rank

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

IFV

IFV Risk / Return Rank: 53
IFV Sharpe Ratio Rank: 54
IFV Sortino Ratio Rank: 54
IFV Omega Ratio Rank: 55
IFV Calmar Ratio Rank: 49
IFV Martin Ratio Rank: 53

HDMV

HDMV Risk / Return Rank: 24
HDMV Sharpe Ratio Rank: 24
HDMV Sortino Ratio Rank: 22
HDMV Omega Ratio Rank: 23
HDMV Calmar Ratio Rank: 24
HDMV Martin Ratio Rank: 26

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.

IFV vs. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright International Focus 5 ETF (IFV) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV). 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.

	IFV	HDMV	Difference
Sharpe ratio: Return per unit of total volatility	1.84	0.86	+0.98
Sortino ratio: Return per unit of downside risk	2.59	1.23	+1.36
Omega ratio: Gain probability vs. loss probability	1.33	1.16	+0.18
Calmar ratio: Return relative to maximum drawdown	2.38	1.10	+1.28
Martin ratio: Return relative to average drawdown	8.97	3.41	+5.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IFV vs. HDMV - Sharpe Ratio Comparison

The current IFV Sharpe Ratio is 1.84, which is higher than the HDMV Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of IFV and HDMV, 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

	IFV	HDMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	0.86	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.53	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.40	-0.17

Drawdowns

IFV vs. HDMV - Drawdown Comparison

The maximum IFV drawdown since its inception was -48.89%, which is greater than HDMV's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for IFV and HDMV.

Drawdown Indicators

	IFV	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-48.89%	-32.01%	-16.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-8.73%	-3.84%
Max Drawdown (3Y) Largest decline over 3 years	-14.66%	-10.33%	-4.33%
Max Drawdown (5Y) Largest decline over 5 years	-35.32%	-24.11%	-11.21%
Max Drawdown (10Y) Largest decline over 10 years	-48.89%	—	—
Current Drawdown Current decline from peak	-1.32%	-6.05%	+4.73%
Average Drawdown Average peak-to-trough decline	-13.23%	-6.77%	-6.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.80%	+0.52%

Volatility

IFV vs. HDMV - Volatility Comparison

First Trust Dorsey Wright International Focus 5 ETF (IFV) has a higher volatility of 6.06% compared to First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) at 3.83%. This indicates that IFV's price experiences larger fluctuations and is considered to be riskier than HDMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IFV	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.06%	3.83%	+2.23%
Volatility (6M) Calculated over the trailing 6-month period	13.47%	9.38%	+4.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	11.16%	+5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.97%	12.05%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	13.24%	+7.51%

IFV vs. HDMV - Expense Ratio Comparison

IFV has a 1.06% expense ratio, which is higher than HDMV's 0.80% expense ratio.

Dividends

IFV vs. HDMV - Dividend Comparison

IFV's dividend yield for the trailing twelve months is around 1.76%, less than HDMV's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDMV First Trust Horizon Managed Volatility Developed Intl ETF	4.70%	5.09%	3.24%	3.14%	3.53%	3.11%	1.45%	3.63%	2.88%	3.23%	0.18%	0.00%
IFV First Trust Dorsey Wright International Focus 5 ETF	1.76%	1.95%	2.31%	2.88%	3.79%	1.04%	1.53%	2.91%	1.86%	1.43%	1.10%	1.52%

Frequently Asked Questions

Can I hold both IFV and HDMV in my portfolio?

IFV and HDMV have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFV or HDMV?

IFV has higher volatility (6.06%) compared to HDMV (3.83%). In terms of maximum drawdown, IFV dropped -48.89% vs HDMV's -32.01%.

Which ETF is better, IFV or HDMV?

On 5-year performance, HDMV leads with 6.31% vs 4.76% for IFV. On fees, HDMV is cheaper at 0.80% per year. On volatility, HDMV has been the lower-risk option at 3.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFV or HDMV?

Over the 5-year period, HDMV has performed better with a 6.31% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFV or HDMV?

HDMV is cheaper with a 0.80% expense ratio, compared with 1.06% for IFV.

Which ETF pays a higher dividend yield, IFV or HDMV?

HDMV has the higher dividend yield at 4.70%, compared with 1.76% for IFV.

What is the main difference between IFV and HDMV?

Their fees differ too: 1.06% for IFV and 0.80% for HDMV.

Which has better risk-adjusted returns?

IFV currently has the higher Sharpe Ratio (1.84 vs 0.86), 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.