HFXI vs TYO
NYLI FTSE International Equity Currency Neutral ETF vs Direxion Daily 7-10 Year Treasury Bear 3X 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 | HFXI | TYO | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 1.00% | |
| AUM | $2.1B | $13M | |
| Dividend Yield | 3.39% | 2.48% | |
| Holdings | 876 | 6 | |
| YTD Return | +17.30% | +12.51% | |
| 1Y Return | +29.54% | +10.88% | |
| 3Y Return (annualized) | +21.69% | +3.99% | |
| 5Y Return (annualized) | +12.45% | +15.51% | |
| Volatility (annualized) | 13.8% | 19.3% | |
| Max Drawdown | -34.2% | -90.4% | |
| Fund Family | INDEXIQ ETF TRUST | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Jul 22, 2015 | Apr 16, 2009 |
HFXI vs TYO Performance
NYLI FTSE International Equity Currency Neutral ETF (HFXI) is a ETF from INDEXIQ ETF TRUST and Direxion Daily 7-10 Year Treasury Bear 3X ETF (TYO) is a ETF from Direxion Shares ETF Trust. Over the past year HFXI returned +29.54% while TYO returned +10.88%. Year to date, HFXI is up 17.30% versus a gain of 12.51% for TYO.
Over three years, HFXI compounded at +21.69% per year against +3.99% for TYO; over five years the annualized figures are +12.45% and +15.51% respectively. Across the full 11-year window we track, HFXI has the edge at +7.92% annualized vs -7.16%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TYO has been the more volatile fund, with annualized monthly volatility of 19.3% 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 -34.2% for HFXI and -90.4% for TYO. 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 -0.12. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HFXI charges 0.20% per year while TYO charges 1.00%. On a $10,000 position that is $20 vs $100 annually, a gap of $80 per year that compounds over a long holding period. On income, HFXI currently yields 3.39% against 2.48% for TYO.
Holdings Overlap
HFXI and TYO share 0 holdings out of 745 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HFXI or TYO?
HFXI has an expense ratio of 0.20% while TYO charges 1.00%. HFXI is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, HFXI or TYO?
Over the past year HFXI returned +29.54% vs +10.88% for TYO, so HFXI leads on 1-year performance. Over the longest common window we track (11 years), HFXI annualized +7.92% vs -7.16% for TYO. Past performance does not guarantee future results.
Which is riskier, HFXI or TYO?
TYO has been the more volatile fund at 19.3% annualized versus 13.8% for HFXI. Worst drawdown: HFXI -34.2% vs TYO -90.4%.
Should I hold both HFXI and TYO?
HFXI and TYO have a monthly-return correlation of -0.12, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HFXI and TYO?
HFXI and TYO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 745 unique securities.
Which pays a higher dividend, HFXI or TYO?
HFXI yields 3.39% while TYO yields 2.48%, so HFXI currently pays the higher dividend yield.
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