HFRX® Indices Performance Tables
The HFRX® Indices are published daily and utilize a rigorous quantitative selection process to represent the larger hedge fund universe. Registered Users can view detailed information on each index, including the full performance history and charting features.
HFR® is the established global leader in the indexation, analysis and research of the hedge fund industry. With over 150 indices ranging from broad composites down to specific, niche areas of sub-strategy and regional investment focus, the HFR Indices are considered the industry standard benchmarks of hedge fund performance.
Global
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Global Hedge Fund Index › | 0.0758% | 0.20% | 2.97% | 1225.23 | 0.63% | 2.77% | -4.10% | 2.43% | |
| HFRX Equal Weighted Strategies Index › | 0.0758% | 0.06% | 1.48% | 1225.20 | -0.18% | 1.42% | -3.88% | 2.25% | |
| HFRX Absolute Return Index › | 0.1854% | 0.14% | 1.27% | 1071.51 | -0.10% | 1.13% | 0.18% | 1.53% | |
| HFRX Aggregate Index › | - | - | - | - | 0.62% | 3.24% | -1.68% | 4.03% | |
| HFRX Market Directional Index › | -0.0831% | -0.50% | 1.33% | 1119.87 | 0.42% | 1.85% | -9.22% | 3.83% |
Equity Hedge
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Equity Hedge Index › | 0.0223% | 0.86% | 6.03% | 1220.55 | 1.16% | 5.13% | -6.52% | 3.55% | |
| HFRX EH: Energy/Basic Materials Index › | - | - | - | - | 0.48% | 2.64% | -1.60% | 4.68% | |
| HFRX EH: Equity Market Neutral Index › | 0.1087% | 0.90% | -0.41% | 968.71 | -1.43% | -1.30% | -5.26% | -2.06% | |
| HFRX EH: Fundamental Growth Index › | 0.0303% | 2.98% | 7.37% | 1630.13 | 1.45% | 4.27% | -11.24% | 3.36% | |
| HFRX EH: Fundamental Value Index › | 0.0202% | 0.83% | 8.17% | 1240.11 | 1.90% | 7.28% | -1.77% | 5.12% | |
| HFRX EH: Multi-Strategy Index › | - | - | - | - | 1.21% | 3.57% | -1.24% | 5.36% | |
| HFRX EH: Quantitative Directional Index › | - | - | - | - | 1.64% | 4.55% | -4.26% | 1.51% | |
| HFRX EH: Short Bias Index › | - | - | - | - | -4.77% | -12.08% | -3.62% | -9.78% | |
| HFRX EH: Technology/Healthcare Index › | - | - | - | - | 2.72% | 8.06% | 4.63% | 12.36% |
Event-Driven
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Event Driven Index › | -0.0095% | -1.28% | 1.04% | 1486.55 | -0.18% | 2.35% | -7.09% | 3.57% | |
| HFRX ED: Activist Index › | - | - | - | - | 4.36% | 8.93% | 0.85% | 6.80% | |
| HFRX ED: Credit Arbitrage Index › | - | - | - | - | 0.91% | 2.15% | 1.16% | 8.58% | |
| HFRX ED: Distressed Restructuring Index › | 0.0693% | -0.47% | 2.03% | 1021.89 | 0.04% | 2.52% | -7.55% | 6.67% | |
| HFRX ED: Merger Arbitrage Index › | 0.0287% | 0.35% | -1.69% | 1786.86 | -2.99% | -2.04% | -2.70% | 0.42% | |
| HFRX ED: Multi-Strategy Index › | - | - | - | - | 0.22% | 0.94% | -6.31% | 4.64% | |
| HFRX ED: Special Situations Index › | -0.1307% | -2.74% | -0.30% | 1199.40 | -0.16% | 2.51% | -7.45% | 2.60% |
Macro
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Macro/CTA Index › | 0.3744% | 1.60% | 0.42% | 1130.81 | 0.76% | -1.16% | -3.17% | -2.03% | |
| HFRX Macro: Active Trading Index › | - | - | - | - | -0.36% | 1.73% | 0.53% | 1.94% | |
| HFRX Macro: Commodity Index › | - | - | - | - | 0.40% | 1.13% | 2.01% | -0.47% | |
| HFRX Macro: Commodity-Agriculture Index › | - | - | - | - | -2.47% | -3.08% | -10.26% | -4.59% | |
| HFRX Macro: Commodity-Energy Index › | - | - | - | - | 2.37% | 3.41% | 1.88% | 1.10% | |
| HFRX Macro: Commodity-Metals Index › | - | - | - | - | 0.28% | 2.10% | -5.28% | 1.07% | |
| HFRX Macro: Currency Index › | - | - | - | - | -0.18% | 1.06% | -0.77% | -1.16% | |
| HFRX Macro: Discretionary Thematic Index › | - | - | - | - | 0.49% | 3.02% | -0.51% | 3.29% | |
| HFRX Macro: Multi-Strategy Index › | - | - | - | - | 0.22% | 3.88% | -8.62% | -0.27% | |
| HFRX Macro: Systematic Diversified CTA Index › | 0.0098% | 2.15% | -0.52% | 1499.09 | -0.02% | -2.61% | -4.72% | -3.12% |
Relative Value
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Relative Value Arbitrage Index › | -0.0041% | -0.07% | 2.71% | 1202.71 | 0.30% | 2.78% | 0.25% | 3.11% | |
| HFRX RV: Energy Infrastructure Index › | - | - | - | - | 0.47% | 6.83% | 9.97% | 10.75% | |
| HFRX RV: FI-Asset Backed Index › | - | - | - | - | 1.30% | 2.02% | 5.30% | 7.71% | |
| HFRX RV: FI-Convertible Arbitrage Index › | -0.0834% | -0.49% | 1.72% | 801.22 | 0.48% | 2.22% | 0.67% | 5.13% | |
| HFRX RV: FI-Corporate Index › | - | - | - | - | 1.65% | 4.44% | 0.40% | 6.34% | |
| HFRX RV: FI-Sovereign Index › | - | - | - | - | 1.16% | 3.93% | 1.53% | 6.13% | |
| HFRX RV: Real Estate Index › | - | - | - | - | 1.88% | 8.61% | 5.44% | 5.71% | |
| HFRX RV: Multi-Strategy Index › | -0.0038% | -0.43% | 2.41% | 1852.45 | 0.35% | 2.86% | 0.05% | 2.64% | |
| HFRX RV: Volatility Index › | - | - | - | - | 1.47% | 5.25% | -1.92% | 1.70% | |
| HFRX RV: Yield Alternative Index › | - | - | - | - | 1.18% | 7.72% | 7.80% | 8.36% |
Americas
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Latin America Index › | - | - | - | - | -0.82% | 7.61% | -2.38% | 9.08% | |
| HFRX North America Index › | -0.1002% | -1.46% | 0.66% | 1307.85 | -0.56% | 2.15% | -5.29% | 1.68% |
Asia
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Asia Composite Hedge Fund Index › | - | - | - | - | 2.32% | 5.81% | -9.47% | 3.60% | |
| HFRX Asia Equally Weighted Index › | - | - | - | - | 1.93% | 5.25% | -8.36% | 3.47% | |
| HFRX Asia ex-Japan Index › | - | - | - | - | 4.18% | 8.34% | -14.98% | 4.83% | |
| HFRX Asia with Japan Index › | - | - | - | - | 0.66% | 4.11% | -2.95% | 1.73% | |
| HFRX Japan Index › | - | - | - | - | 0.94% | 3.31% | -7.10% | 3.59% |
Europe
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Northern Europe Index › | - | - | - | - | 0.88% | 2.21% | 0.77% | 4.92% | |
| HFRX Russia/Eastern Europe Index › | - | - | - | - | -0.70% | 7.13% | -4.46% | 10.40% | |
| HFRX Western/Pan Europe Index › | - | - | - | - | 0.82% | 2.06% | 4.87% | 5.47% |
Other Region
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Multi-Region Index › | 0.0548% | 0.60% | 3.67% | 1331.92 | 0.23% | 3.05% | -3.99% | 2.12% |
Emerging Markets
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Asia ex-Japan Index › | - | - | - | - | 4.18% | 8.34% | -14.98% | 4.83% | |
| HFRX Brazil Index › | - | - | - | - | -2.21% | 13.00% | -3.77% | 16.99% | |
| HFRX BRIC Index › | - | - | - | - | 0.80% | 6.52% | -12.84% | 12.03% | |
| HFRX China Index › | - | - | - | - | 5.11% | 10.65% | -16.89% | 8.06% | |
| HFRX India Index › | - | - | - | - | 0.78% | -4.28% | -18.78% | 10.80% | |
| HFRX Latin America Index › | - | - | - | - | -0.82% | 7.61% | -2.38% | 9.08% | |
| HFRX MENA Index › | - | - | - | - | 1.99% | 4.75% | 1.13% | 7.39% | |
| HFRX Emerging Markets Composite Index › | 0.7420% | 1.07% | -0.52% | 1762.11 | -0.30% | -1.57% | -9.46% | 0.57% | |
| HFRX Multi-Emerging Markets Index › | - | - | - | - | 1.02% | 5.15% | -1.46% | 5.73% | |
| HFRX Russia Index › | - | - | - | - | -0.19% | 6.69% | -14.65% | 9.46% | |
| HFRX Russia/Eastern Europe Index › | - | - | - | - | -0.70% | 7.13% | -4.46% | 10.40% | |
| HFRX Total Emerging Market Index › | - | - | - | - | 1.64% | 7.02% | -4.12% | 7.17% |
FX Hedged
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Equal Weighted Strategies CHF Index › | -0.0947% | -0.22% | 0.74% | 1179.07 | -0.47% | 0.96% | -7.43% | -0.85% | |
| HFRX Equal Weighted Strategies EUR Index › | -0.0938% | -0.20% | 0.76% | 1047.00 | -0.45% | 0.97% | -6.97% | -0.33% | |
| HFRX Equal Weighted Strategies GBP Index › | -0.0933% | -0.15% | 0.91% | 2149.99 | -0.35% | 1.06% | -5.97% | 0.59% | |
| HFRX Equal Weighted Strategies JPY Index › | -0.0937% | -0.11% | 0.86% | 101018.42 | -0.39% | 0.97% | -6.30% | 0.37% | |
| HFRX Global Hedge Fund CAD Index › | -0.0551% | 0.10% | 2.63% | 1201.79 | 0.45% | 2.53% | -5.01% | 1.80% | |
| HFRX Global Hedge Fund CHF Index › | -0.0602% | -0.08% | 1.94% | 1159.15 | 0.23% | 2.02% | -8.57% | -1.02% | |
| HFRX Global Hedge Fund EUR Index › | -0.0594% | -0.06% | 2.01% | 1029.52 | 0.25% | 2.07% | -7.51% | -0.32% | |
| HFRX Global Hedge Fund GBP Index › | -0.0572% | -0.01% | 2.21% | 2137.85 | 0.34% | 2.22% | -6.45% | 0.61% | |
| HFRX Global Hedge Fund JPY Index › | -0.0594% | 0.03% | 2.25% | 101646.22 | 0.32% | 2.22% | -6.59% | 0.54% | |
| HFRX Equity Hedge EUR Index › | -0.0272% | 0.66% | 5.40% | 1058.51 | 0.94% | 4.70% | -9.34% | 1.07% | |
| HFRX Macro/CTA EUR Index › | 0.0075% | 1.05% | -0.49% | 1001.72 | 0.53% | -1.52% | -5.96% | -4.35% | |
| HFRX Event Driven EUR Index › | -0.1513% | -1.44% | 0.47% | 1295.06 | -0.42% | 1.94% | -9.87% | 1.13% | |
| HFRX Relative Value Arbitrage EUR Index › | -0.0441% | -0.23% | 2.14% | 1051.38 | 0.06% | 2.37% | -2.61% | 0.79% |
Thematic
| Index Name | DTD | MTD | YTD | Index Value | Feb 2019 | YTD | LAST 12M | LAST 36M | |
|---|---|---|---|---|---|---|---|---|---|
| HFRX Fixed Income - Credit Index › | 0.2650% | -0.04% | 2.45% | 2046.00 | 0.48% | 2.49% | -1.23% | 3.86% | |
| HFRX Alternative Energy Index › | - | - | - | - | 0.97% | 8.80% | 8.96% | 9.34% | |
| HFRX Diversity Index › | - | - | - | - | 2.25% | 6.63% | 3.75% | 6.36% | |
| HFRX Diversity: Women Index › | - | - | - | - | 1.49% | 3.85% | 1.26% | 7.66% |
HFRX Indices Mid-March Performance Notes
Global financial markets posted mixed performance through mid-March, with leadership from European equities as the UK voted on Brexit proposals while US interest rates declined. US equities were mixed with gains in Technology and large cap narrowly offset by declines in small caps; France, the UK, Germany and the Netherlands led European gains while China & India also gained. US interest rates fell as expectations for further interest rate increases by the US Federal Reserve were further moderated; the US Dollar was mixed against most currencies. Commodity declines were led by Platinum & Silver; Agricultural commodities were also mixed but led by a surge in Hogs. Hedge funds posted gains through mid-month with the HFRX Global Hedge Fund Index gaining +0.19%.
HFRX Macro/CTA Index posted a gain of +1.21% through mid-March from gains in systematic trend-following and managers Emerging Markets strategies. The HFRX Macro Systematic Index gained +2.16% through mid-month as the US Dollar gained against the Euro and Swiss Franc, while falling against the British Pound. Precious Metals declined while Energy and Agricultural commodities were mixed.
HFRX Equity Hedge Index posted a gain of +0.86% through mid-March from gains in Fundamental and Market Neutral strategies. The HFRX Fundamental Growth Index gained +3.00% for the period from gains in Global Healthcare and European exposure. The HFRX Fundamental Value Index posted a gain of +0.81% from exposure to large-cap Communications and Technology sectors. The HFRX Market Neutral Index posted a gain of +0.99% from gains in mean reverting, factor based strategies and fundamental managers.
HFRX Relative Value Arbitrage Index posted a modest decline of -0.03% through mid-March from declines in Convertible Arbitrage and Multi-Strategy managers only partially offset by gains in Yield Alternatives – Energy Infrastructure strategies. The HFRX Convertible Arbitrage Index declined -0.35% through mid-March as volatility and yields declined during the period. The HFRX RV: Multi-Strategy Index posted a decline of -0.38% for month from declines in Global Credit partially offset by gains in MBS strategies.
HFRX Event Driven Index posted a decline of -1.13% through mid-March from declines in Special Situations and Distressed managers partially offset by gains in Merger Arbitrage strategies. The HFRX Merger Arbitrage Index posted a gain of +0.34% for month with core exposures to the Fifth Third/MB Financial, IBM/Red Hat and CommScope/ARRIS transactions. The HFRX Distressed Index posted a decline of -0.50% for the period from exposure to Energy and Utilities sectors. The HFRX Special Situations Index declined -2.28% from core positioning in Viad, Radnet and Air Transport Services.
Comments reference performance figures as of March 15, 2019