DIVN vs. BGIG

Last updated Aug 1, 2026

DIVN (Horizon Dividend Income ETF) and BGIG (Bahl & Gaynor Income Growth ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, DIVN returned 22.54% vs 21.92% for BGIG. Their 0.78 correlation means they have sometimes moved together and sometimes differently. DIVN charges 0.70%/yr vs 0.45%/yr for BGIG.

Performance

DIVN vs. BGIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Dividend Income ETF (DIVN) and Bahl & Gaynor Income Growth ETF (BGIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with DIVN having a 14.80% return and BGIG slightly lower at 14.06%.

DIVN

• 1D: 0.20%
• 1M: 1.14%
• 6M: 8.07%
• YTD: 14.80%
• 1Y: 22.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.81%

BGIG

• 1D: 0.22%
• 1M: 1.70%
• 6M: 10.58%
• YTD: 14.06%
• 1Y: 21.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BGIG Bahl & Gaynor Income Growth ETF	$4.13M	$3.60M	$4.30M
DIVN Horizon Dividend Income ETF	$10.90M	$5.41M	$2.61M

DIVN vs. BGIG - Yearly Performance Comparison

	2026 (YTD)	2025
DIVN Horizon Dividend Income ETF	14.80%	8.11%
BGIG Bahl & Gaynor Income Growth ETF	14.06%	9.00%

Correlation

The correlation between DIVN and BGIG is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.78

The correlation between DIVN and BGIG has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

Return for Risk

DIVN vs. BGIG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVN

DIVN Risk / Return Rank: 88
DIVN Sharpe Ratio Rank: 89
DIVN Sortino Ratio Rank: 92
DIVN Omega Ratio Rank: 87
DIVN Calmar Ratio Rank: 91
DIVN Martin Ratio Rank: 84

BGIG

BGIG Risk / Return Rank: 91
BGIG Sharpe Ratio Rank: 92
BGIG Sortino Ratio Rank: 92
BGIG Omega Ratio Rank: 91
BGIG Calmar Ratio Rank: 89
BGIG Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVN vs. BGIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Dividend Income ETF (DIVN) and Bahl & Gaynor Income Growth ETF (BGIG). 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.

	DIVN	BGIG	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.41	-0.21
Sortino ratio: Return per unit of downside risk	3.36	3.45	-0.09
Omega ratio: Gain probability vs. loss probability	1.39	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	4.08	3.69	+0.39
Martin ratio: Return relative to average drawdown	11.49	14.43	-2.94

DIVN vs. BGIG - Sharpe Ratio Comparison

The current DIVN Sharpe Ratio is 2.19, which is comparable to the BGIG Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of DIVN and BGIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIVN vs. BGIG - Drawdown Comparison

The maximum DIVN drawdown since its inception was -5.55%, smaller than the maximum BGIG drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for DIVN and BGIG.

Drawdown Indicators

	DIVN	BGIG	Difference
Max Drawdown Largest peak-to-trough decline	-5.55%	-13.24%	+7.69%
Max Drawdown (1Y) Largest decline over 1 year	-5.55%	-5.81%	+0.26%
Current Drawdown Current decline from peak	-1.39%	-0.08%	-1.31%
Average Drawdown Average peak-to-trough decline	-1.35%	-1.69%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.48%	+0.49%

Volatility

DIVN vs. BGIG - Volatility Comparison

Horizon Dividend Income ETF (DIVN) has a higher volatility of 3.15% compared to Bahl & Gaynor Income Growth ETF (BGIG) at 2.07%. This indicates that DIVN's price experiences larger fluctuations and is considered to be riskier than BGIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVN	BGIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	2.07%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	6.73%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	8.95%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.53%	11.75%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.53%	11.75%	-1.22%

DIVN vs. BGIG - Expense Ratio Comparison

DIVN has a 0.70% expense ratio, which is higher than BGIG's 0.45% expense ratio.

Dividends

DIVN vs. BGIG - Dividend Comparison

DIVN's dividend yield for the trailing twelve months is around 3.70%, more than BGIG's 1.69% yield.

Position	TTM	2025	2024	2023
BGIG Bahl & Gaynor Income Growth ETF	1.69%	1.89%	2.02%	0.78%
DIVN Horizon Dividend Income ETF	3.70%	1.47%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVN and BGIG in my portfolio?

DIVN and BGIG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVN or BGIG?

DIVN has higher volatility (3.15%) compared to BGIG (2.07%). In terms of maximum drawdown, DIVN dropped -5.55% vs BGIG's -13.24%.

Which ETF is better, DIVN or BGIG?

On 1-year performance, DIVN leads with 22.54% vs 21.92% for BGIG. On fees, BGIG is cheaper at 0.45% per year. On volatility, BGIG has been the lower-risk option at 2.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVN or BGIG?

Over the 1-year period, DIVN has performed better with a 22.54% return vs 21.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVN or BGIG?

BGIG is cheaper with a 0.45% expense ratio, compared with 0.70% for DIVN.

Which ETF pays a higher dividend yield, DIVN or BGIG?

DIVN has the higher dividend yield at 3.70%, compared with 1.69% for BGIG.

What is the main difference between DIVN and BGIG?

They also come from different issuers: Horizon and Bahl & Gaynor. Their fees differ too: 0.70% for DIVN and 0.45% for BGIG.

Which has better risk-adjusted returns?

BGIG currently has the higher Sharpe Ratio (2.40 vs 2.19), 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.