VIHAX vs. HOLA

Last updated Jul 15, 2026

VIHAX (Vanguard International High Dividend Yield Index Fund Admiral Shares) and HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) are both funds - VIHAX is a Large Cap Value Equities fund tracking the FTSE All-World ex US High Dividend Yield Index, while HOLA is a Equity Hedged fund actively managed by JPMorgan. VIHAX is passively managed, while HOLA is actively managed. Over the past year, VIHAX returned 29.13% vs 13.98% for HOLA. Their correlation of 0.80 suggests significant overlap in exposure. VIHAX charges 0.16%/yr vs 0.50%/yr for HOLA.

Performance

VIHAX vs. HOLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard International High Dividend Yield Index Fund Admiral Shares (VIHAX) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIHAX achieves a 13.53% return, which is significantly higher than HOLA's 5.99% return.

VIHAX

• 1D: -0.33%
• 1M: 0.46%
• 6M: 11.33%
• YTD: 13.53%
• 1Y: 29.13%
• 3Y*: 20.95%
• 5Y*: 13.09%
• 10Y*: 10.88%

HOLA

• 1D: 0.53%
• 1M: 1.26%
• 6M: 3.53%
• YTD: 5.99%
• 1Y: 13.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VIHAX vs. HOLA - Yearly Performance Comparison

	2026 (YTD)	2025
VIHAX Vanguard International High Dividend Yield Index Fund Admiral Shares	13.53%	13.77%
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	5.99%	7.60%

Correlation

The correlation between VIHAX and HOLA is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.80

The correlation between VIHAX and HOLA has been stable across timeframes, ranging from 0.80 to 0.80 - a consistent structural relationship.

VIHAX vs. HOLA - Sectors Allocation Comparison

Sectors	VIHAX	HOLA
Financial Services	40.7%	25.7%
Energy	8.6%	3.4%
Basic Materials	7.0%	5.4%
Consumer Defensive	6.7%	6.6%
Healthcare	6.5%	10.1%
Industrials	6.3%	18.5%
Consumer Cyclical	6.2%	8.3%
Technology	5.3%	12.2%
Utilities	5.1%	4.3%
Communication Services	3.7%	4.4%
Real Estate	1.2%	1.0%

Return for Risk

VIHAX vs. HOLA — Risk / Return Rank

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

VIHAX

VIHAX Risk / Return Rank: 85
VIHAX Sharpe Ratio Rank: 90
VIHAX Sortino Ratio Rank: 86
VIHAX Omega Ratio Rank: 84
VIHAX Calmar Ratio Rank: 83
VIHAX Martin Ratio Rank: 82

HOLA

HOLA Risk / Return Rank: 50
HOLA Sharpe Ratio Rank: 51
HOLA Sortino Ratio Rank: 52
HOLA Omega Ratio Rank: 49
HOLA Calmar Ratio Rank: 50
HOLA Martin Ratio Rank: 50

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.

VIHAX vs. HOLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard International High Dividend Yield Index Fund Admiral Shares (VIHAX) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). 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.

	VIHAX	HOLA	Difference
Sharpe ratio: Return per unit of total volatility	2.41	1.41	+1.00
Sortino ratio: Return per unit of downside risk	3.35	2.06	+1.30
Omega ratio: Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio: Return relative to maximum drawdown	3.07	2.01	+1.06
Martin ratio: Return relative to average drawdown	11.59	6.70	+4.90

VIHAX vs. HOLA - Sharpe Ratio Comparison

The current VIHAX Sharpe Ratio is 2.41, which is higher than the HOLA Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of VIHAX and HOLA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIHAX vs. HOLA - Drawdown Comparison

The maximum VIHAX drawdown since its inception was -38.80%, which is greater than HOLA's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for VIHAX and HOLA.

Drawdown Indicators

	VIHAX	HOLA	Difference
Max Drawdown Largest peak-to-trough decline	-38.80%	-6.99%	-31.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-6.99%	-2.54%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.80%	—	—
Current Drawdown Current decline from peak	-0.33%	-0.89%	+0.56%
Average Drawdown Average peak-to-trough decline	-5.97%	-1.41%	-4.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	2.09%	+0.43%

Volatility

VIHAX vs. HOLA - Volatility Comparison

The current volatility for Vanguard International High Dividend Yield Index Fund Admiral Shares (VIHAX) is 3.49%, while JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) has a volatility of 3.93%. This indicates that VIHAX experiences smaller price fluctuations and is considered to be less risky than HOLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIHAX	HOLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	3.93%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	8.11%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	9.95%	+2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.77%	9.95%	+3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	9.95%	+5.59%

VIHAX vs. HOLA - Expense Ratio Comparison

VIHAX has a 0.16% expense ratio, which is lower than HOLA's 0.50% expense ratio.

Dividends

VIHAX vs. HOLA - Dividend Comparison

VIHAX's dividend yield for the trailing twelve months is around 3.57%, more than HOLA's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	2.85%	3.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VIHAX Vanguard International High Dividend Yield Index Fund Admiral Shares	3.57%	3.69%	4.85%	4.58%	4.70%	4.30%	3.22%	5.63%	4.28%	3.16%	2.37%

Frequently Asked Questions

Can I hold both VIHAX and HOLA in my portfolio?

VIHAX and HOLA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIHAX or HOLA?

HOLA has higher volatility (3.93%) compared to VIHAX (3.49%). In terms of maximum drawdown, VIHAX dropped -38.80% vs HOLA's -6.99%.

Which has better risk-adjusted returns?

VIHAX currently has the higher Sharpe Ratio (2.41 vs 1.41), 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.