XC vs. HFXI

Last updated Aug 2, 2026

XC (WisdomTree Emerging Markets ex-China Fund) and HFXI (IQ 50 Percent Hedged FTSE International ETF) are both exchange-traded funds - XC is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while HFXI is a Foreign Large Cap Equities fund tracking the FTSE Developed ex North America 50% Hedged to USD Index. Both are passively managed. Over the past 3 years, XC returned 9.35%/yr vs 19.02%/yr for HFXI. Their 0.73 correlation means they have sometimes moved together and sometimes differently. XC charges 0.32%/yr vs 0.20%/yr for HFXI.

Performance

XC vs. HFXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets ex-China Fund (XC) and IQ 50 Percent Hedged FTSE International ETF (HFXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XC achieves a 0.10% return, which is significantly lower than HFXI's 16.19% return.

XC

• 1D: -0.09%
• 1M: 1.18%
• 6M: -3.23%
• YTD: 0.10%
• 1Y: 7.41%
• 3Y*: 9.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.81%

HFXI

• 1D: -0.37%
• 1M: -0.69%
• 6M: 9.89%
• YTD: 16.19%
• 1Y: 32.93%
• 3Y*: 19.02%
• 5Y*: 12.15%
• 10Y*: 11.29%
• ALL TIME*: 9.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HFXI IQ 50 Percent Hedged FTSE International ETF	$10.14M	$12.55M	$11.09M
XC WisdomTree Emerging Markets ex-China Fund	$811.45K	$489.30K	$569.06K

XC vs. HFXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XC WisdomTree Emerging Markets ex-China Fund	0.10%	18.19%	5.49%	21.31%	1.58%
HFXI IQ 50 Percent Hedged FTSE International ETF	16.19%	30.10%	7.58%	19.56%	8.38%

Correlation

The correlation between XC and HFXI is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022	0.73

The correlation between XC and HFXI has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

XC vs. HFXI - Sectors Allocation Comparison

Sectors	XC	HFXI
Financial Services	31.9%	24.6%
Consumer Cyclical	12.1%	7.2%
Industrials	10.9%	18.3%
Basic Materials	10.0%	5.9%
Consumer Defensive	8.0%	5.4%
Communication Services	6.3%	3.2%
Healthcare	4.9%	9.2%
Energy	4.5%	3.4%
Real Estate	4.0%	2.2%
Utilities	3.8%	3.3%
Technology	3.5%	16.7%

Return for Risk

XC vs. HFXI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XC

XC Risk / Return Rank: 22
XC Sharpe Ratio Rank: 23
XC Sortino Ratio Rank: 22
XC Omega Ratio Rank: 22
XC Calmar Ratio Rank: 22
XC Martin Ratio Rank: 21

HFXI

HFXI Risk / Return Rank: 82
HFXI Sharpe Ratio Rank: 83
HFXI Sortino Ratio Rank: 81
HFXI Omega Ratio Rank: 84
HFXI Calmar Ratio Rank: 81
HFXI Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XC vs. HFXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-China Fund (XC) and IQ 50 Percent Hedged FTSE International ETF (HFXI). 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.

	XC	HFXI	Difference
Sharpe ratio: Return per unit of total volatility	0.51	1.93	-1.42
Sortino ratio: Return per unit of downside risk	0.83	2.65	-1.82
Omega ratio: Gain probability vs. loss probability	1.10	1.36	-0.26
Calmar ratio: Return relative to maximum drawdown	0.61	2.94	-2.33
Martin ratio: Return relative to average drawdown	1.48	10.78	-9.31

XC vs. HFXI - Sharpe Ratio Comparison

The current XC Sharpe Ratio is 0.51, which is lower than the HFXI Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of XC and HFXI, 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

XC vs. HFXI - Drawdown Comparison

The maximum XC drawdown since its inception was -20.97%, smaller than the maximum HFXI drawdown of -32.42%. Use the drawdown chart below to compare losses from any high point for XC and HFXI.

Drawdown Indicators

	XC	HFXI	Difference
Max Drawdown Largest peak-to-trough decline	-20.97%	-32.42%	+11.45%
Max Drawdown (1Y) Largest decline over 1 year	-12.47%	-10.84%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-20.97%	-13.52%	-7.45%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.35%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.42%	—
Current Drawdown Current decline from peak	-6.00%	-3.31%	-2.69%
Average Drawdown Average peak-to-trough decline	-4.25%	-5.42%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	2.95%	+2.19%

Volatility

XC vs. HFXI - Volatility Comparison

The current volatility for WisdomTree Emerging Markets ex-China Fund (XC) is 4.16%, while IQ 50 Percent Hedged FTSE International ETF (HFXI) has a volatility of 5.35%. This indicates that XC experiences smaller price fluctuations and is considered to be less risky than HFXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XC	HFXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	5.35%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	13.39%	14.87%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.98%	16.59%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	15.23%	+0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	16.60%	-0.77%

XC vs. HFXI - Expense Ratio Comparison

XC has a 0.32% expense ratio, which is higher than HFXI's 0.20% expense ratio.

Dividends

XC vs. HFXI - Dividend Comparison

XC's dividend yield for the trailing twelve months is around 12.01%, more than HFXI's 3.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFXI IQ 50 Percent Hedged FTSE International ETF	3.33%	4.19%	2.68%	2.49%	4.65%	3.10%	2.00%	3.19%	4.33%	2.56%	2.71%	0.78%
XC WisdomTree Emerging Markets ex-China Fund	12.01%	11.74%	1.49%	1.42%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XC and HFXI in my portfolio?

XC and HFXI have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XC or HFXI?

HFXI has higher volatility (5.35%) compared to XC (4.16%). In terms of maximum drawdown, XC dropped -20.97% vs HFXI's -32.42%.

Which ETF is better, XC or HFXI?

On 3-year performance, HFXI leads with 19.02% vs 9.35% for XC. On fees, HFXI is cheaper at 0.20% per year. On volatility, XC has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XC or HFXI?

Over the 3-year period, HFXI has performed better with a 19.02% return vs 9.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XC or HFXI?

HFXI is cheaper with a 0.20% expense ratio, compared with 0.32% for XC.

Which ETF pays a higher dividend yield, XC or HFXI?

XC has the higher dividend yield at 12.01%, compared with 3.33% for HFXI.

What is the main difference between XC and HFXI?

XC is categorized as Emerging Markets Equities, while HFXI is Foreign Large Cap Equities. XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while HFXI tracks FTSE Developed ex North America 50% Hedged to USD Index. They also come from different issuers: WisdomTree and New York Life. Their fees differ too: 0.32% for XC and 0.20% for HFXI.

Which has better risk-adjusted returns?

HFXI currently has the higher Sharpe Ratio (1.93 vs 0.51), 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.