ALLW vs. SFTX

Last updated Jun 4, 2026

ALLW (SPDR Bridgewater All Weather ETF) and SFTX (Horizon International Managed Risk ETF) are both Tactical Allocation funds. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined. ALLW charges 0.85%/yr vs 0.82%/yr for SFTX.

Performance

ALLW vs. SFTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Bridgewater All Weather ETF (ALLW) and Horizon International Managed Risk ETF (SFTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALLW achieves a 9.20% return, which is significantly lower than SFTX's 22.26% return.

ALLW

• 1D: -0.76%
• 1M: 0.91%
• YTD: 9.20%
• 6M: 8.47%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SFTX

• 1D: -0.29%
• 1M: 7.93%
• YTD: 22.26%
• 6M: 24.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALLW vs. SFTX - Yearly Performance Comparison

	2026 (YTD)	2025
ALLW SPDR Bridgewater All Weather ETF	9.20%	-0.67%
SFTX Horizon International Managed Risk ETF	22.26%	1.61%

Correlation

The correlation between ALLW and SFTX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.74

ALLW vs. SFTX - Sectors Allocation Comparison

Sectors	ALLW	SFTX
Technology	26.3%	28.2%
Financial Services	15.8%	16.2%
Consumer Cyclical	11.0%	5.9%
Communication Services	9.7%	4.5%
Industrials	9.2%	12.1%
Healthcare	8.2%	10.1%
Consumer Defensive	5.9%	3.7%
Energy	4.9%	8.0%
Basic Materials	4.6%	8.6%
Utilities	2.8%	1.9%
Real Estate	1.8%	0.9%

Return for Risk

ALLW vs. SFTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALLW

ALLW Risk / Return Rank: 67
ALLW Sharpe Ratio Rank: 67
ALLW Sortino Ratio Rank: 64
ALLW Omega Ratio Rank: 67
ALLW Calmar Ratio Rank: 66
ALLW Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALLW vs. SFTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bridgewater All Weather ETF (ALLW) and Horizon International Managed Risk ETF (SFTX). 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.

	ALLW	SFTX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	—	—
Sortino ratio: Return per unit of downside risk	3.05	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	3.30	—	—
Martin ratio: Return relative to average drawdown	14.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ALLW	SFTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	2.57	-0.95

Drawdowns

ALLW vs. SFTX - Drawdown Comparison

The maximum ALLW drawdown since its inception was -8.78%, smaller than the maximum SFTX drawdown of -12.75%. Use the drawdown chart below to compare losses from any high point for ALLW and SFTX.

Drawdown Indicators

	ALLW	SFTX	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	-12.75%	+3.97%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	—	—
Current Drawdown Current decline from peak	-0.79%	-0.29%	-0.50%
Average Drawdown Average peak-to-trough decline	-1.20%	-2.78%	+1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	—	—

Volatility

Volatility by Period

	ALLW	SFTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	21.65%	-11.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	21.65%	-9.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	21.65%	-9.11%

ALLW vs. SFTX - Expense Ratio Comparison

ALLW has a 0.85% expense ratio, which is higher than SFTX's 0.82% expense ratio.

Dividends

ALLW vs. SFTX - Dividend Comparison

ALLW's dividend yield for the trailing twelve months is around 4.28%, more than SFTX's 0.20% yield.

Position	TTM	2025
ALLW SPDR Bridgewater All Weather ETF	4.28%	4.67%
SFTX Horizon International Managed Risk ETF	0.20%	0.25%

Frequently Asked Questions

Can I hold both ALLW and SFTX in my portfolio?

ALLW and SFTX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ALLW or SFTX?

On fees, SFTX is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ALLW or SFTX?

SFTX is cheaper with a 0.82% expense ratio, compared with 0.85% for ALLW.

Which ETF pays a higher dividend yield, ALLW or SFTX?

ALLW has the higher dividend yield at 4.28%, compared with 0.20% for SFTX.

What is the main difference between ALLW and SFTX?

They also come from different issuers: State Street and Horizon. Their fees differ too: 0.85% for ALLW and 0.82% for SFTX.