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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in First Trust Horizon Managed Volatility Small/Mid ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) has returned 1.79% so far this year and 2.50% over the past 12 months.
First Trust Horizon Managed Volatility Small/Mid ETF
- 1D
- 0.83%
- 1M
- -5.20%
- YTD
- 1.79%
- 6M
- 0.63%
- 1Y
- 2.50%
- 3Y*
- 7.20%
- 5Y*
- 4.19%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Apr 7, 2020, HSMV's average daily return is +0.05%, while the average monthly return is +0.96%. At this rate, your investment would double in approximately 6.0 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2020 with a return of +10.8%, while the worst month was Sep 2022 at -8.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HSMV closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +5.4%, while the worst single day was Jun 11, 2020 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.09% | 4.16% | -5.20% | 1.79% | |||||||||
| 2025 | 1.38% | 0.66% | -1.16% | -2.18% | 1.86% | 0.33% | -1.40% | 4.13% | -0.76% | -3.42% | 3.42% | -1.02% | 1.57% |
| 2024 | -1.51% | 3.23% | 4.18% | -4.16% | 3.67% | -0.75% | 7.79% | 1.19% | 0.96% | -0.83% | 6.62% | -6.95% | 13.17% |
| 2023 | 5.61% | -2.07% | -3.58% | -1.14% | -4.43% | 6.55% | 2.69% | -2.08% | -5.04% | -3.21% | 6.15% | 6.63% | 5.01% |
| 2022 | -5.92% | -0.48% | 2.26% | -5.15% | 1.05% | -6.49% | 8.24% | -4.17% | -8.40% | 9.52% | 5.91% | -4.25% | -9.44% |
| 2021 | -0.28% | 6.44% | 4.59% | 4.13% | 0.36% | -1.11% | 2.30% | 0.67% | -3.95% | 4.97% | -2.57% | 6.61% | 23.72% |
Benchmark Metrics
First Trust Horizon Managed Volatility Small/Mid ETF has an annualized alpha of -0.49%, beta of 0.73, and R² of 0.62 versus S&P 500 Index. Calculated based on daily prices since April 08, 2020.
- This ETF participated in 84.63% of S&P 500 Index downside but only 70.68% of its upside — more exposed to losses than it benefited from rallies.
- Alpha
- -0.49%
- Beta
- 0.73
- R²
- 0.62
- Upside Capture
- 70.68%
- Downside Capture
- 84.63%
Expense Ratio
HSMV has an expense ratio of 0.80%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HSMV ranks 17 for risk / return — in the bottom 17% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) and compare them to a chosen benchmark (S&P 500 Index).
| HSMV | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.18 | 0.90 | -0.71 |
Sortino ratioReturn per unit of downside risk | 0.36 | 1.39 | -1.02 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.21 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.40 | -1.09 |
Martin ratioReturn relative to average drawdown | 1.11 | 6.61 | -5.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore HSMV risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
First Trust Horizon Managed Volatility Small/Mid ETF provided a 2.03% dividend yield over the last twelve months, with an annual payout of $0.73 per share. The fund has been increasing its distributions for 5 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.73 | $0.72 | $0.51 | $0.46 | $0.39 | $0.26 | $0.23 |
Dividend yield | 2.03% | 2.01% | 1.43% | 1.43% | 1.26% | 0.76% | 0.80% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Horizon Managed Volatility Small/Mid ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.12 | $0.12 | |||||||||
| 2025 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.31 | $0.72 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.25 | $0.51 |
| 2023 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.18 | $0.46 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.17 | $0.39 |
| 2021 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.15 | $0.26 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Horizon Managed Volatility Small/Mid ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Horizon Managed Volatility Small/Mid ETF was 19.16%, occurring on Sep 30, 2022. Recovery took 404 trading sessions.
The current First Trust Horizon Managed Volatility Small/Mid ETF drawdown is 5.59%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -19.16% | Jan 5, 2022 | 186 | Sep 30, 2022 | 404 | May 10, 2024 | 590 |
| -15.45% | Nov 26, 2024 | 90 | Apr 8, 2025 | 209 | Feb 6, 2026 | 299 |
| -9.48% | Aug 13, 2020 | 29 | Sep 23, 2020 | 33 | Nov 9, 2020 | 62 |
| -8.83% | Jun 9, 2020 | 14 | Jun 26, 2020 | 29 | Aug 7, 2020 | 43 |
| -8.59% | Apr 30, 2020 | 11 | May 14, 2020 | 7 | May 26, 2020 | 18 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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