CGW vs HFXI
Invesco S&P Global Water Index ETF vs NYLI FTSE International Equity Currency Neutral ETF
Quick Verdict
HFXI has a lower expense ratio. HFXI delivered stronger 1-year returns. HFXI offers more diversification with 876 holdings.
Side-by-Side Comparison
| Metric | CGW | HFXI | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.20% | |
| AUM | $1.1B | $2.1B | |
| Dividend Yield | 1.54% | 3.39% | |
| Holdings | 82 | 876 | |
| YTD Return | +2.34% | +17.30% | |
| 1Y Return | +2.85% | +29.54% | |
| 3Y Return (annualized) | +11.23% | +21.69% | |
| 5Y Return (annualized) | +3.55% | +12.45% | |
| Volatility (annualized) | 17.3% | 13.8% | |
| Max Drawdown | -57.2% | -34.2% | |
| Fund Family | Invesco (US) | INDEXIQ ETF TRUST | |
| Category | Equity | Equity | |
| Inception | May 14, 2007 | Jul 22, 2015 |
CGW vs HFXI Performance
Invesco S&P Global Water Index ETF (CGW) is a ETF from Invesco (US) and NYLI FTSE International Equity Currency Neutral ETF (HFXI) is a ETF from INDEXIQ ETF TRUST. Over the past year CGW returned +2.85% while HFXI returned +29.54%. Year to date, CGW is up 2.34% versus a gain of 17.30% for HFXI.
Over three years, CGW compounded at +11.23% per year against +21.69% for HFXI; over five years the annualized figures are +3.55% and +12.45% respectively. Across the full 11-year window we track, HFXI has the edge at +7.92% annualized vs +7.18%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGW has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 13.8% for HFXI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -57.2% for CGW and -34.2% for HFXI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGW charges 0.58% per year while HFXI charges 0.20%. On a $10,000 position that is $58 vs $20 annually, a gap of $38 per year that compounds over a long holding period. On income, CGW currently yields 1.54% against 3.39% for HFXI.
Holdings Overlap
CGW and HFXI share 3 holdings out of 806 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CGW or HFXI?
CGW has an expense ratio of 0.58% while HFXI charges 0.20%. HFXI is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, CGW or HFXI?
Over the past year CGW returned +2.85% vs +29.54% for HFXI, so HFXI leads on 1-year performance. Over the longest common window we track (11 years), CGW annualized +7.18% vs +7.92% for HFXI. Past performance does not guarantee future results.
Which is riskier, CGW or HFXI?
CGW has been the more volatile fund at 17.3% annualized versus 13.8% for HFXI. Worst drawdown: CGW -57.2% vs HFXI -34.2%.
Should I hold both CGW and HFXI?
CGW and HFXI have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGW and HFXI?
CGW and HFXI share 3 common holdings with a 0.1% weight overlap. Combined, they hold 806 unique securities.
Which pays a higher dividend, CGW or HFXI?
CGW yields 1.54% while HFXI yields 3.39%, so HFXI currently pays the higher dividend yield.
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