The Philipino mean is much lower than the white mean - 83 according to
this source, while for whites it's 100.
The heritability of IQ is pretty high, let's put it at 0.7 for this thought experiment. This means that for every point someone is above their population mean, only 0.7 points of it will be due to genetic factors that they can pass on, in aggregate.
So a white with 110 IQ will have a "genetic IQ" of (100+10*0.7) = 107, while a philipino with 110 IQ will have a genetic IQ of (83+27*0.7) = 101.9, and therefore will pass on less IQ coding genes to their children.
It is rarely this bad in reality, though, because children will typically regress towards their parents' average rather than the population mean, and the parents of exceptionally intelligent people will tend to be more intelligent than average, too. If you want to be sure that you're selecting a mate who has good genes for IQ, height, or any other highly heritable trait, then make sure that their relatives are also high in it and you're good, no matter the ethnicity.