PXF vs. HDMV
Compare and contrast key facts about Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) and First Trust Horizon Managed Volatility Developed Intl ETF (HDMV).
PXF and HDMV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PXF is a passively managed fund by Invesco that tracks the performance of the FTSE RAFI Developed Markets ex-U.S. Index. It was launched on Jun 25, 2007. HDMV is an actively managed fund by First Trust. It was launched on Aug 24, 2016.
Performance
PXF vs. HDMV - Performance Comparison
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PXF vs. HDMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 7.42% | 42.51% | 4.54% | 18.46% | -9.09% | 15.93% | 2.58% | 17.50% | -14.84% | 24.52% |
HDMV First Trust Horizon Managed Volatility Developed Intl ETF | 4.18% | 29.31% | 2.99% | 9.62% | -11.47% | 7.39% | -9.42% | 15.00% | -7.60% | 27.49% |
Returns By Period
In the year-to-date period, PXF achieves a 7.42% return, which is significantly higher than HDMV's 4.18% return.
PXF
- 1D
- 3.20%
- 1M
- -7.54%
- YTD
- 7.42%
- 6M
- 16.47%
- 1Y
- 39.79%
- 3Y*
- 21.01%
- 5Y*
- 12.53%
- 10Y*
- 10.96%
HDMV
- 1D
- 2.14%
- 1M
- -6.09%
- YTD
- 4.18%
- 6M
- 7.46%
- 1Y
- 20.52%
- 3Y*
- 12.99%
- 5Y*
- 7.11%
- 10Y*
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PXF vs. HDMV - Expense Ratio Comparison
PXF has a 0.45% expense ratio, which is lower than HDMV's 0.80% expense ratio.
Return for Risk
PXF vs. HDMV — Risk / Return Rank
PXF
HDMV
PXF vs. HDMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) 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.
| PXF | HDMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.29 | 1.57 | +0.72 |
Sortino ratioReturn per unit of downside risk | 2.97 | 2.04 | +0.94 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.31 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 3.34 | 2.28 | +1.06 |
Martin ratioReturn relative to average drawdown | 13.24 | 8.16 | +5.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PXF | HDMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 1.57 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 0.60 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.41 | -0.20 |
Correlation
The correlation between PXF and HDMV is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PXF vs. HDMV - Dividend Comparison
PXF's dividend yield for the trailing twelve months is around 3.45%, less than HDMV's 4.70% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF | 3.45% | 3.64% | 3.48% | 3.55% | 3.58% | 3.74% | 2.11% | 3.50% | 3.38% | 2.78% | 3.21% | 3.10% |
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% |
Drawdowns
PXF vs. HDMV - Drawdown Comparison
The maximum PXF drawdown since its inception was -64.74%, which is greater than HDMV's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for PXF and HDMV.
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Drawdown Indicators
| PXF | HDMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.74% | -32.01% | -32.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.52% | -8.73% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.82% | -24.11% | -2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -41.59% | — | — |
Current DrawdownCurrent decline from peak | -7.54% | -6.09% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -15.40% | -6.83% | -8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.44% | +0.46% |
Volatility
PXF vs. HDMV - Volatility Comparison
Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF) has a higher volatility of 8.30% compared to First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) at 6.07%. This indicates that PXF'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.
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Volatility by Period
| PXF | HDMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.30% | 6.07% | +2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 11.63% | 8.25% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.52% | 13.16% | +4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.27% | 11.94% | +4.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 13.23% | +4.80% |