DIVN vs. DIVZ
DIVN (Horizon Dividend Income ETF) and DIVZ (Opal Dividend Income ETF) are both Large Cap Value Equities funds. A 0.71 correlation means they provide meaningful diversification when combined. DIVN charges 0.70%/yr vs 0.65%/yr for DIVZ.
Performance
DIVN vs. DIVZ - Performance Comparison
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Returns By Period
In the year-to-date period, DIVN achieves a 11.82% return, which is significantly higher than DIVZ's 4.86% return.
DIVN
- 1D
- -0.34%
- 1M
- -0.67%
- YTD
- 11.82%
- 6M
- 11.10%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DIVZ
- 1D
- 1.12%
- 1M
- -1.44%
- YTD
- 4.86%
- 6M
- 4.61%
- 1Y
- 12.20%
- 3Y*
- 15.51%
- 5Y*
- 9.40%
- 10Y*
- —
DIVN vs. DIVZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DIVN Horizon Dividend Income ETF | 11.82% | 8.11% |
DIVZ Opal Dividend Income ETF | 4.86% | 7.20% |
Correlation
The correlation between DIVN and DIVZ is 0.71, 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 Jun 26, 2025 | 0.71 |
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Return for Risk
DIVN vs. DIVZ — Risk / Return Rank
DIVN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DIVZ
DIVN vs. DIVZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Dividend Income ETF (DIVN) and Opal Dividend Income ETF (DIVZ). 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 | DIVZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.10 | — |
| Martin ratioReturn relative to average drawdown | — | 4.98 | — |
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Drawdowns
DIVN vs. DIVZ - Drawdown Comparison
The maximum DIVN drawdown since its inception was -5.55%, smaller than the maximum DIVZ drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for DIVN and DIVZ.
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Drawdown Indicators
| DIVN | DIVZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.55% | -15.42% | +9.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.83% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.52% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.42% | — |
Current DrawdownCurrent decline from peak | -1.94% | -2.87% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -3.48% | +2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.45% | — |
Volatility
DIVN vs. DIVZ - Volatility Comparison
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Volatility by Period
| DIVN | DIVZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.51% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.24% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 9.48% | +1.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.56% | 12.63% | -2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 12.56% | -2.00% |
DIVN vs. DIVZ - Expense Ratio Comparison
DIVN has a 0.70% expense ratio, which is higher than DIVZ's 0.65% expense ratio.
Dividends
DIVN vs. DIVZ - Dividend Comparison
DIVN's dividend yield for the trailing twelve months is around 3.12%, more than DIVZ's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DIVN Horizon Dividend Income ETF | 3.12% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% |
DIVZ Opal Dividend Income ETF | 2.55% | 2.60% | 2.63% | 3.66% | 3.23% | 3.83% |
Frequently Asked Questions
DIVN and DIVZ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DIVZ is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DIVZ is cheaper with a 0.65% expense ratio, compared with 0.70% for DIVN.
DIVN has the higher dividend yield at 3.12%, compared with 2.55% for DIVZ.
They also come from different issuers: Horizon and TrueShares. Their fees differ too: 0.70% for DIVN and 0.65% for DIVZ.
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