HFXI
IQ FTSE International Equity Currency Neutral ETF
The IQ 50 Percent Hedged FTSE International ETF tracks a vanilla index of large- and midcap companies located in developed nations outside of North America, with roughly half of its foreign currency exposure hedged into the U.S. dollar.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
783.0 M
ASSETS UNDER MGMT
20 bp
EXPENSES
Fund Basics
| Fund sponsor | IndexIQ |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 22, 2015 |
| Assets (mns) | $783 |
| Expense ratio | 20 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NOVO NORDISK A/S-B | 2.1 % |
| ASML HOLDING NV | 1.9 % |
| SAMSUNG ELECTRONICS CO LTD | 1.5 % |
| NESTLE SA-REG | 1.4 % |
| ROCHE HOLDING AG-BR | 1.4 % |
| ASTRAZENECA PLC | 1.3 % |
| SAP AG | 1.2 % |
| SHELL PLC | 1.2 % |
| TOYOTA MOTOR CORP | 1.2 % |
| NOVARTIS AG | 1.2 % |
Constituent Breakdown
| Number of holdings | 845 |
| Herfindahl-Hirschman Index | 43 |
| Wgt avg mkt cap (mns) | $87,104 |
| Large cap (>$10bn) | 85.1% |
| Mid cap ($2-10bn) | 13.0% |
| Small cap (<$2bn) | 0.3% |
| Developed mkts. | 95.0% |
| Emerging mkts. | 4.9% |
Country Exposure
 |
JAPAN | 23.4 % |
 |
BRITAIN | 13.7 % |
 |
SWITZERLAND | 9.6 % |
 |
FRANCE | 9.3 % |
 |
GERMANY | 7.8 % |
 |
AUSTRALIA | 6.9 % |
 |
NETHERLANDS | 5.0 % |
 |
SOUTH KOREA | 4.8 % |
 |
DENMARK | 3.1 % |
 |
SWEDEN | 3.0 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.1% | 21.3% | 18.5% | 5.8% | 8.3% | -- | 6.5% | Volatility | 11.8% | 11.6% | 12.4% | 14.7% | 18.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.77 | 81% |
| MSCI EAFE | 0.81 | 94% |
| MSCI Emg Mkts | 0.66 | 61% |
Liquidity Measures
| Avg. volume (000) | 99 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.19% |
| ADV of underlying (mns) | $69,877 |
Technical Indicators
| Recent close | $26.23 |
| 30d moving avg. | $27.28 |
| Annualized volatility | 14.8% |
| Relative strength (RSI) | 46 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HFXI |
Expenses vs. HFXI |
ALTAR Score™ vs. HFXI |
|---|---|---|---|---|
| DBEF | Xtrackers MSCI EAFE Hedged Equity ETF | 87.8% | +16 bp | -0.5% |
| GSID | Goldman Sachs MarketBeta International Equity ETF | 86.9% | 0 bp | -0.1% |
| BKIE | BNY Mellon International Equity ETF | 83.4% | -16 bp | +0.0% |
| EFA | iShares MSCI EAFE ETF | 82.6% | +15 bp | -0.2% |
| IEFA | iShares Core MSCI EAFE ETF | 77.8% | -13 bp | +0.1% |
| EFAX | SPDR MSCI EAFE Fossil Fuel Free ETF | 76.9% | 0 bp | -0.6% |
| SCHF | Schwab International Equity ETF | 73.6% | -14 bp | +0.4% |
| IDEV | iShares Core MSCI International Developed Markets ETF | 70.2% | -16 bp | +0.0% |
| VEA | Vanguard FTSE Developed Markets ETF | 70.1% | -15 bp | +0.3% |
| SPDW | SPDR Portfolio Developed World ex-US ETF | 69.8% | -17 bp | +0.1% |
Risk and Returns: HFXI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
HFXI
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
ALTAR Score™
HFXI
7.1%
Cat. Avg
7.4%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.4% and a standard deviation of
2.6%. HFXI's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places HFXI in the 46th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HFXISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| HFXI (20 bp) Percentile rank | 18 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HFXI | 20.0 | 19.2 | 39.2 |
| Peer Avg. | 35.0 | 18.4 | 53.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .