HFXI vs SPGM
NYLI FTSE International Equity Currency Neutral ETF vs State Street SPDR Portfolio MSCI Global Stock Market ETF
Quick Verdict
SPGM has a lower expense ratio. HFXI delivered stronger 1-year returns. SPGM offers more diversification with 2,985 holdings.
Side-by-Side Comparison
| Metric | HFXI | SPGM | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $2.1B | $1.8B | |
| Dividend Yield | 3.39% | 1.81% | |
| Holdings | 876 | 2,985 | |
| YTD Return | +18.25% | +15.41% | |
| 1Y Return | +31.21% | +25.49% | |
| 3Y Return (annualized) | +21.56% | +21.81% | |
| 5Y Return (annualized) | +12.46% | +11.66% | |
| Volatility (annualized) | 13.9% | 13.7% | |
| Max Drawdown | -34.2% | -34.0% | |
| Fund Family | INDEXIQ ETF TRUST | SPDR State Street Global Advisors | |
| Category | Equity | Equity | |
| Inception | Jul 22, 2015 | Feb 27, 2012 |
HFXI vs SPGM Performance
NYLI FTSE International Equity Currency Neutral ETF (HFXI) is a ETF from INDEXIQ ETF TRUST and State Street SPDR Portfolio MSCI Global Stock Market ETF (SPGM) is a ETF from SPDR State Street Global Advisors. Over the past year HFXI returned +31.21% while SPGM returned +25.49%. Year to date, HFXI is up 18.25% versus a gain of 15.41% for SPGM.
Over three years, HFXI compounded at +21.56% per year against +21.81% for SPGM; over five years the annualized figures are +12.46% and +11.66% respectively. Across the full 11-year window we track, SPGM has the edge at +9.95% annualized vs +8.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HFXI has been the more volatile fund, with annualized monthly volatility of 13.9% compared with 13.7% for SPGM. 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 -34.2% for HFXI and -34.0% for SPGM. 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HFXI charges 0.20% per year while SPGM charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, HFXI currently yields 3.39% against 1.81% for SPGM.
Holdings Overlap
HFXI and SPGM share 244 holdings out of 3344 unique holdings combined, representing a 13.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HFXI or SPGM?
HFXI has an expense ratio of 0.20% while SPGM charges 0.09%. SPGM is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, HFXI or SPGM?
Over the past year HFXI returned +31.21% vs +25.49% for SPGM, so HFXI leads on 1-year performance. Over the longest common window we track (11 years), HFXI annualized +8.01% vs +9.95% for SPGM. Past performance does not guarantee future results.
Which is riskier, HFXI or SPGM?
HFXI has been the more volatile fund at 13.9% annualized versus 13.7% for SPGM. Worst drawdown: HFXI -34.2% vs SPGM -34.0%.
Should I hold both HFXI and SPGM?
HFXI and SPGM have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between HFXI and SPGM?
HFXI and SPGM share 244 common holdings with a 13.6% weight overlap. Combined, they hold 3344 unique securities.
Which pays a higher dividend, HFXI or SPGM?
HFXI yields 3.39% while SPGM yields 1.81%, so HFXI currently pays the higher dividend yield.
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