MHIG vs. FARX
MHIG (Milliman Healthcare Inflation Guard ETF) and FARX (Frontier Asset Absolute Return ETF) are both Multistrategy funds. Both are actively managed. Their 0.23 correlation means their historical movements had little consistent relationship. MHIG charges 0.55%/yr vs 1.00%/yr for FARX.
Performance
MHIG vs. FARX - Performance Comparison
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Returns By Period
MHIG
- 1D
- 0.28%
- 1M
- -0.39%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FARX
- 1D
- -0.38%
- 1M
- 1.76%
- 6M
- 4.57%
- YTD
- 8.85%
- 1Y
- 16.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.34%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.53K | $28.61K | $41.69K | |
| $288.37 | $336.43 | $1.73K |
MHIG vs. FARX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MHIG Milliman Healthcare Inflation Guard ETF | -2.45% |
FARX Frontier Asset Absolute Return ETF | 1.73% |
Correlation
The correlation between MHIG and FARX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.23 |
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Return for Risk
MHIG vs. FARX — Risk / Return Rank
MHIG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FARX
MHIG vs. FARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Milliman Healthcare Inflation Guard ETF (MHIG) and Frontier Asset Absolute Return ETF (FARX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MHIG | FARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.42 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.47 | — |
| Martin ratioReturn relative to average drawdown | — | 16.33 | — |
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Drawdowns
MHIG vs. FARX - Drawdown Comparison
The maximum MHIG drawdown since its inception was -3.06%, smaller than the maximum FARX drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for MHIG and FARX.
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Drawdown Indicators
| MHIG | FARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.06% | -5.83% | +2.77% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.99% | — |
Current DrawdownCurrent decline from peak | -2.45% | -0.99% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -1.08% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.01% | — |
Volatility
MHIG vs. FARX - Volatility Comparison
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Volatility by Period
| MHIG | FARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.71% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.48% | 7.43% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 7.01% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.48% | 7.01% | +0.47% |
MHIG vs. FARX - Expense Ratio Comparison
MHIG has a 0.55% expense ratio, which is lower than FARX's 1.00% expense ratio.
Dividends
MHIG vs. FARX - Dividend Comparison
MHIG has not paid dividends to shareholders, while FARX's dividend yield for the trailing twelve months is around 2.87%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FARX Frontier Asset Absolute Return ETF | 2.87% | 3.25% | 0.19% |
MHIG Milliman Healthcare Inflation Guard ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MHIG and FARX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MHIG is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MHIG is cheaper with a 0.55% expense ratio, compared with 1.00% for FARX.
FARX has the higher dividend yield at 2.87%, compared with 0.00% for MHIG.
They also come from different issuers: Milliman and Frontier. Their fees differ too: 0.55% for MHIG and 1.00% for FARX.
Find the right allocation for MHIG and FARX
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