FQAL vs HFXI
Fidelity Quality Factor ETF vs NYLI FTSE International Equity Currency Neutral ETF
Quick Verdict
FQAL has a lower expense ratio. HFXI delivered stronger 1-year returns. HFXI offers more diversification with 876 holdings.
Side-by-Side Comparison
| Metric | FQAL | HFXI | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.20% | |
| AUM | $1.4B | $2.1B | |
| Dividend Yield | 1.15% | 3.39% | |
| Holdings | 130 | 876 | |
| YTD Return | +12.56% | +17.30% | |
| 1Y Return | +19.37% | +29.54% | |
| 3Y Return (annualized) | +20.54% | +21.69% | |
| 5Y Return (annualized) | +11.62% | +12.45% | |
| Volatility (annualized) | 15.0% | 13.8% | |
| Max Drawdown | -34.1% | -34.2% | |
| Fund Family | Fidelity Investments (US) | INDEXIQ ETF TRUST | |
| Category | Equity | Equity | |
| Inception | Sep 12, 2016 | Jul 22, 2015 |
FQAL vs HFXI Performance
Fidelity Quality Factor ETF (FQAL) is a ETF from Fidelity Investments (US) and NYLI FTSE International Equity Currency Neutral ETF (HFXI) is a ETF from INDEXIQ ETF TRUST. Over the past year FQAL returned +19.37% while HFXI returned +29.54%. Year to date, FQAL is up 12.56% versus a gain of 17.30% for HFXI.
Over three years, FQAL compounded at +20.54% per year against +21.69% for HFXI; over five years the annualized figures are +11.62% and +12.45% respectively. Across the full 10-year window we track, FQAL has the edge at +13.76% annualized vs +7.92%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FQAL has been the more volatile fund, with annualized monthly volatility of 15.0% 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 -34.1% for FQAL 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FQAL charges 0.15% per year while HFXI charges 0.20%. On a $10,000 position that is $15 vs $20 annually, a gap of $5 per year that compounds over a long holding period. On income, FQAL currently yields 1.15% against 3.39% for HFXI.
Holdings Overlap
FQAL and HFXI share 2 holdings out of 865 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FQAL or HFXI?
FQAL has an expense ratio of 0.15% while HFXI charges 0.20%. FQAL is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, FQAL or HFXI?
Over the past year FQAL returned +19.37% vs +29.54% for HFXI, so HFXI leads on 1-year performance. Over the longest common window we track (10 years), FQAL annualized +13.76% vs +7.92% for HFXI. Past performance does not guarantee future results.
Which is riskier, FQAL or HFXI?
FQAL has been the more volatile fund at 15.0% annualized versus 13.8% for HFXI. Worst drawdown: FQAL -34.1% vs HFXI -34.2%.
Should I hold both FQAL and HFXI?
FQAL and HFXI have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FQAL and HFXI?
FQAL and HFXI share 2 common holdings with a 0.5% weight overlap. Combined, they hold 865 unique securities.
Which pays a higher dividend, FQAL or HFXI?
FQAL yields 1.15% while HFXI yields 3.39%, so HFXI currently pays the higher dividend yield.
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