AAANX vs. T
AAANX (Horizon Active Asset Allocation Fund) is Tactical Allocation fund managed by Horizon Investments, while T (AT&T Inc.) is a stock. Over the past 10 years, AAANX returned 10.32%/yr vs 2.02%/yr for T. At a 0.36 correlation, their price movements are largely independent.
Performance
AAANX vs. T - Performance Comparison
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Returns By Period
In the year-to-date period, AAANX achieves a 11.43% return, which is significantly higher than T's -8.33% return. Over the past 10 years, AAANX has outperformed T with an annualized return of 10.32%, while T has yielded a comparatively lower 2.02% annualized return.
AAANX
- 1D
- 0.49%
- 1M
- -0.12%
- 6M
- 8.35%
- YTD
- 11.43%
- 1Y
- 22.41%
- 3Y*
- 15.78%
- 5Y*
- 8.94%
- 10Y*
- 10.32%
T
- 1D
- 2.57%
- 1M
- -3.83%
- 6M
- -5.16%
- YTD
- -8.33%
- 1Y
- -14.60%
- 3Y*
- 23.91%
- 5Y*
- 6.50%
- 10Y*
- 2.02%
AAANX vs. T - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAANX Horizon Active Asset Allocation Fund | 11.43% | 16.58% | 12.43% | 17.25% | -16.99% | 21.42% | 14.69% | 20.60% | -8.91% | 22.20% |
T AT&T Inc. | -8.33% | 13.97% | 44.08% | -2.74% | 5.76% | -8.09% | -21.37% | 45.55% | -22.25% | -4.01% |
Correlation
The correlation between AAANX and T is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2012 | 0.36 |
The correlation between AAANX and T shifts across timeframes, from -0.21 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AAANX vs. T — Risk / Return Rank
AAANX
T
AAANX vs. T - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Active Asset Allocation Fund (AAANX) and AT&T Inc. (T). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAANX | T | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.91 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.51 | +2.69 |
| Martin ratioReturn relative to average drawdown | 8.88 | -1.14 | +10.03 |
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Drawdowns
AAANX vs. T - Drawdown Comparison
The maximum AAANX drawdown since its inception was -34.18%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for AAANX and T.
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Drawdown Indicators
| AAANX | T | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.18% | -64.15% | +29.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -28.89% | +18.33% |
Max Drawdown (3Y)Largest decline over 3 years | -18.84% | -28.89% | +10.05% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -32.01% | +7.40% |
Max Drawdown (10Y)Largest decline over 10 years | -34.18% | -42.35% | +8.17% |
Current DrawdownCurrent decline from peak | -1.73% | -22.66% | +20.93% |
Average DrawdownAverage peak-to-trough decline | -4.98% | -15.74% | +10.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 12.80% | -10.21% |
Volatility
AAANX vs. T - Volatility Comparison
The current volatility for Horizon Active Asset Allocation Fund (AAANX) is 4.63%, while AT&T Inc. (T) has a volatility of 10.04%. This indicates that AAANX experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAANX | T | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.63% | 10.04% | -5.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.61% | 19.94% | -7.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.80% | 23.65% | -8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 24.40% | -8.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 23.91% | -6.32% |
Dividends
AAANX vs. T - Dividend Comparison
AAANX's dividend yield for the trailing twelve months is around 3.99%, less than T's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAANX Horizon Active Asset Allocation Fund | 3.99% | 4.45% | 18.43% | 0.78% | 1.08% | 15.02% | 6.59% | 0.67% | 7.46% | 12.35% | 0.89% | 1.36% |
T AT&T Inc. | 5.05% | 4.47% | 4.87% | 6.62% | 6.66% | 8.46% | 7.23% | 5.22% | 7.01% | 5.04% | 4.51% | 5.46% |
Frequently Asked Questions
AAANX and T have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
T has higher volatility (10.04%) compared to AAANX (4.63%). In terms of maximum drawdown, AAANX dropped -34.18% vs T's -64.15%.
AAANX currently has the higher Sharpe Ratio (1.56 vs -0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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