IMFL vs. INFL

Last updated Jun 4, 2026

IMFL (Invesco International Developed Dynamic Multifactor ETF) and INFL (Horizon Kinetics Inflation Beneficiaries ETF) are both Global Equities funds. IMFL is passively managed, while INFL is actively managed. Over the past 5 years, IMFL returned 8.50%/yr vs 13.12%/yr for INFL. A 0.64 correlation means they provide meaningful diversification when combined. IMFL charges 0.34%/yr vs 0.85%/yr for INFL.

Performance

IMFL vs. INFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco International Developed Dynamic Multifactor ETF (IMFL) and Horizon Kinetics Inflation Beneficiaries ETF (INFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IMFL having a 17.58% return and INFL slightly lower at 17.21%.

IMFL

• 1D: -0.54%
• 1M: 5.50%
• YTD: 17.58%
• 6M: 20.95%
• 1Y: 33.05%
• 3Y*: 17.51%
• 5Y*: 8.50%
• 10Y*: —

INFL

• 1D: -0.48%
• 1M: -1.64%
• YTD: 17.21%
• 6M: 17.82%
• 1Y: 23.41%
• 3Y*: 21.83%
• 5Y*: 13.12%
• 10Y*: —

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

IMFL vs. INFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IMFL Invesco International Developed Dynamic Multifactor ETF	17.58%	30.89%	-3.57%	25.51%	-17.32%	6.94%
INFL Horizon Kinetics Inflation Beneficiaries ETF	17.21%	18.30%	23.34%	1.62%	2.65%	18.57%

Correlation

The correlation between IMFL and INFL is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021	0.64

Over the past year, the correlation between IMFL and INFL has dropped to 0.43 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

IMFL vs. INFL - Sectors Allocation Comparison

Sectors	IMFL	INFL
Industrials	17.4%	1.8%
Technology	15.4%	-
Healthcare	12.8%	1.2%
Consumer Defensive	11.6%	2.4%
Financial Services	11.0%	21.1%
Consumer Cyclical	7.5%	-
Energy	5.9%	40.5%
Basic Materials	5.5%	20.0%
Utilities	3.9%	2.9%
Communication Services	3.6%	0.3%
Real Estate	1.5%	1.1%

Return for Risk

IMFL vs. INFL — Risk / Return Rank

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

IMFL

IMFL Risk / Return Rank: 60
IMFL Sharpe Ratio Rank: 64
IMFL Sortino Ratio Rank: 61
IMFL Omega Ratio Rank: 61
IMFL Calmar Ratio Rank: 57
IMFL Martin Ratio Rank: 57

INFL

INFL Risk / Return Rank: 45
INFL Sharpe Ratio Rank: 42
INFL Sortino Ratio Rank: 38
INFL Omega Ratio Rank: 40
INFL Calmar Ratio Rank: 56
INFL Martin Ratio Rank: 46

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.

IMFL vs. INFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco International Developed Dynamic Multifactor ETF (IMFL) and Horizon Kinetics Inflation Beneficiaries ETF (INFL). 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.

	IMFL	INFL	Difference
Sharpe ratio Return per unit of total volatility	2.12	1.52	+0.60
Sortino ratio Return per unit of downside risk	2.88	2.01	+0.87
Omega ratio Gain probability vs. loss probability	1.37	1.27	+0.10
Calmar ratio Return relative to maximum drawdown	2.82	2.81	+0.01
Martin ratio Return relative to average drawdown	9.97	7.68	+2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMFL vs. INFL - Sharpe Ratio Comparison

The current IMFL Sharpe Ratio is 2.12, which is higher than the INFL Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of IMFL and INFL, 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

	IMFL	INFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	1.52	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.75	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.91	-0.29

Drawdowns

IMFL vs. INFL - Drawdown Comparison

The maximum IMFL drawdown since its inception was -33.26%, which is greater than INFL's maximum drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for IMFL and INFL.

Drawdown Indicators

	IMFL	INFL	Difference
Max Drawdown Largest peak-to-trough decline	-33.26%	-21.30%	-11.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-8.36%	-3.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.52%	-15.56%	+2.04%
Max Drawdown (5Y) Largest decline over 5 years	-33.26%	-21.30%	-11.96%
Current Drawdown Current decline from peak	-0.54%	-5.51%	+4.97%
Average Drawdown Average peak-to-trough decline	-7.24%	-5.10%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.06%	+0.26%

Volatility

IMFL vs. INFL - Volatility Comparison

Invesco International Developed Dynamic Multifactor ETF (IMFL) has a higher volatility of 5.74% compared to Horizon Kinetics Inflation Beneficiaries ETF (INFL) at 3.60%. This indicates that IMFL's price experiences larger fluctuations and is considered to be riskier than INFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMFL	INFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	3.60%	+2.14%
Volatility (6M) Calculated over the trailing 6-month period	13.08%	12.32%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	15.52%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	17.71%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.99%	17.64%	-1.65%

IMFL vs. INFL - Expense Ratio Comparison

IMFL has a 0.34% expense ratio, which is lower than INFL's 0.85% expense ratio.

Dividends

IMFL vs. INFL - Dividend Comparison

IMFL's dividend yield for the trailing twelve months is around 2.87%, more than INFL's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021
IMFL Invesco International Developed Dynamic Multifactor ETF	2.87%	2.88%	3.56%	3.85%	3.35%	3.94%
INFL Horizon Kinetics Inflation Beneficiaries ETF	0.91%	1.26%	1.77%	1.60%	1.65%	0.91%

Frequently Asked Questions

Can I hold both IMFL and INFL in my portfolio?

IMFL and INFL have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMFL or INFL?

IMFL has higher volatility (5.74%) compared to INFL (3.60%). In terms of maximum drawdown, IMFL dropped -33.26% vs INFL's -21.30%.

Which ETF is better, IMFL or INFL?

On 5-year performance, INFL leads with 13.12% vs 8.50% for IMFL. On fees, IMFL is cheaper at 0.34% per year. On volatility, INFL has been the lower-risk option at 3.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMFL or INFL?

Over the 5-year period, INFL has performed better with a 13.12% return vs 8.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMFL or INFL?

IMFL is cheaper with a 0.34% expense ratio, compared with 0.85% for INFL.

Which ETF pays a higher dividend yield, IMFL or INFL?

IMFL has the higher dividend yield at 2.87%, compared with 0.91% for INFL.

What is the main difference between IMFL and INFL?

They also come from different issuers: Invesco and Horizon Kinetics LLC. Their fees differ too: 0.34% for IMFL and 0.85% for INFL.

Which has better risk-adjusted returns?

IMFL currently has the higher Sharpe Ratio (2.12 vs 1.51), 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.