RFDI vs. HDMV

Last updated Jun 4, 2026

RFDI (First Trust RiverFront Dynamic Developed International ETF) and HDMV (First Trust Horizon Managed Volatility Developed Intl ETF) are both Foreign Large Cap Equities funds from First Trust. Both are actively managed. Over the past 5 years, RFDI returned 8.07%/yr vs 6.31%/yr for HDMV. Their correlation of 0.85 suggests significant overlap in exposure. RFDI charges 0.83%/yr vs 0.80%/yr for HDMV.

Performance

RFDI vs. HDMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RiverFront Dynamic Developed International ETF (RFDI) 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, RFDI achieves a 7.65% return, which is significantly higher than HDMV's 4.23% return.

RFDI

• 1D: -0.69%
• 1M: 1.91%
• YTD: 7.65%
• 6M: 10.55%
• 1Y: 23.94%
• 3Y*: 19.21%
• 5Y*: 8.07%
• 10Y*: 8.56%

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)

RFDI vs. HDMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFDI First Trust RiverFront Dynamic Developed International ETF	7.65%	35.95%	5.56%	18.14%	-23.57%	17.36%	9.16%	20.47%	-18.26%	24.08%
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 RFDI and HDMV is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 29, 2016	0.85

The correlation between RFDI and HDMV has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

RFDI vs. HDMV - Sectors Allocation Comparison

Sectors	RFDI	HDMV
Financial Services	27.2%	24.4%
Energy	11.5%	1.8%
Industrials	11.3%	15.2%
Consumer Cyclical	10.2%	2.7%
Healthcare	8.8%	3.1%
Technology	7.9%	0.9%
Consumer Defensive	7.0%	13.0%
Communication Services	4.8%	9.4%
Utilities	4.7%	14.6%
Basic Materials	4.6%	1.0%
Real Estate	1.9%	13.8%

Return for Risk

RFDI vs. HDMV — Risk / Return Rank

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

RFDI

RFDI Risk / Return Rank: 49
RFDI Sharpe Ratio Rank: 49
RFDI Sortino Ratio Rank: 48
RFDI Omega Ratio Rank: 48
RFDI Calmar Ratio Rank: 48
RFDI Martin Ratio Rank: 51

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.

RFDI vs. HDMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RiverFront Dynamic Developed International ETF (RFDI) 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.

	RFDI	HDMV	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.86	+0.81
Sortino ratio: Return per unit of downside risk	2.35	1.23	+1.12
Omega ratio: Gain probability vs. loss probability	1.30	1.16	+0.14
Calmar ratio: Return relative to maximum drawdown	2.36	1.10	+1.26
Martin ratio: Return relative to average drawdown	8.55	3.41	+5.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFDI vs. HDMV - Sharpe Ratio Comparison

The current RFDI Sharpe Ratio is 1.67, which is higher than the HDMV Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of RFDI 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

	RFDI	HDMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	0.86	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.53	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.40	+0.09

Drawdowns

RFDI vs. HDMV - Drawdown Comparison

The maximum RFDI drawdown since its inception was -39.40%, which is greater than HDMV's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for RFDI and HDMV.

Drawdown Indicators

	RFDI	HDMV	Difference
Max Drawdown Largest peak-to-trough decline	-39.40%	-32.01%	-7.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.20%	-8.73%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.44%	-10.33%	-3.11%
Max Drawdown (5Y) Largest decline over 5 years	-35.87%	-24.11%	-11.76%
Max Drawdown (10Y) Largest decline over 10 years	-39.40%	—	—
Current Drawdown Current decline from peak	-2.51%	-6.05%	+3.54%
Average Drawdown Average peak-to-trough decline	-9.24%	-6.77%	-2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	2.80%	+0.01%

Volatility

RFDI vs. HDMV - Volatility Comparison

First Trust RiverFront Dynamic Developed International ETF (RFDI) has a higher volatility of 4.65% compared to First Trust Horizon Managed Volatility Developed Intl ETF (HDMV) at 3.83%. This indicates that RFDI'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

	RFDI	HDMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	3.83%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	9.38%	+2.52%
Volatility (1Y) Calculated over the trailing 1-year period	14.39%	11.16%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.76%	12.05%	+4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.36%	13.24%	+4.12%

RFDI vs. HDMV - Expense Ratio Comparison

RFDI has a 0.83% expense ratio, which is higher than HDMV's 0.80% expense ratio.

Dividends

RFDI vs. HDMV - Dividend Comparison

RFDI's dividend yield for the trailing twelve months is around 3.28%, less than HDMV's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
RFDI First Trust RiverFront Dynamic Developed International ETF	3.28%	3.45%	5.21%	2.43%	5.00%	3.22%	1.34%	2.72%	2.59%	1.63%	1.85%

Frequently Asked Questions

Can I hold both RFDI and HDMV in my portfolio?

RFDI and HDMV have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFDI or HDMV?

RFDI has higher volatility (4.65%) compared to HDMV (3.83%). In terms of maximum drawdown, RFDI dropped -39.40% vs HDMV's -32.01%.

Which ETF is better, RFDI or HDMV?

On 5-year performance, RFDI leads with 8.07% vs 6.31% for HDMV. 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, RFDI or HDMV?

Over the 5-year period, RFDI has performed better with a 8.07% return vs 6.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFDI or HDMV?

HDMV is cheaper with a 0.80% expense ratio, compared with 0.83% for RFDI.

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

HDMV has the higher dividend yield at 4.70%, compared with 3.28% for RFDI.

What is the main difference between RFDI and HDMV?

Their fees differ too: 0.83% for RFDI and 0.80% for HDMV.

Which has better risk-adjusted returns?

RFDI currently has the higher Sharpe Ratio (1.67 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.