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.


Rules-Based, Diverse

MANAGEMENT MATRIX

DBEF

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorIndexIQ
CategoryInternational Equities
Asset classEquity
Websitelink...
Inception dateJul 22, 2015
Assets (mns)$518
Expense ratio20 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
NOVO NORDISK A/S-B 2.1 %
ASML HOLDING NV 2.0 %
TOYOTA MOTOR CORP 1.6 %
NESTLE SA-REG 1.5 %
SAMSUNG ELECTRONICS CO LTD 1.4 %
LVMH MOET HENNESSY LOUIS VUI 1.2 %
SHELL PLC 1.1 %
NOVARTIS AG 1.1 %
SAP AG 1.1 %
ROCHE HOLDING LTD 1.0 %
Constituent Breakdown
Number of holdings803
Herfindahl-Hirschman Index 42
Wgt avg mkt cap (mns)$96,874
Large cap (>$10bn)87.6%
Mid cap ($2-10bn)12.1%
Small cap (<$2bn)0.2%
Developed mkts.94.4%
Emerging mkts.5.6%
Country Exposure
JAPAN 24.1 %
BRITAIN 12.6 %
FRANCE 9.5 %
SWITZERLAND 8.9 %
GERMANY 7.5 %
AUSTRALIA 6.8 %
NETHERLANDS 5.0 %
SOUTH KOREA 4.9 %
DENMARK 3.1 %
SWEDEN 3.0 %
Historical Performance


Standardized Annual Returns (as of 03/31/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
8.0% 19.4% 10.8% 7.7% 9.5% -- 6.8%
Market Correlations
versus...BetaR-squared
S&P 5000.7480%
MSCI EAFE0.8395%
MSCI Emg Mkts0.6663%
Liquidity Measures
Avg. volume (000)114
Turnover0.6%
Avg. Bid/Ask (% of price)0.19%
ADV of underlying (mns)$55,313
Technical Indicators
Recent close$25.81
30d moving avg.$23.91
Annualized volatility14.6%
Relative strength (RSI)68
Short interest (ETF)0.2%
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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Risk and Returns: HFXI vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
1.2 13.0 1.5 3.4% --
Based on closing prices from 4/19/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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 Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

HFXI

6.9%

Cat. Avg

7.3%

Fund Category: International Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™6.9%
Recommendation

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.

Category Overview
There are 257 funds in the International Equities category, with an average ALTAR Score™ of 7.3% and a standard deviation of 2.6%. HFXI's ALTAR Score™ is approximately 0.2 standard deviations below the category average. This places HFXI in the 44th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
HFXI
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
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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. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .