DIVN vs. ROE

Last updated Jul 15, 2026

DIVN (Horizon Dividend Income ETF) and ROE (Astoria US Equal Weight Quality Kings ETF) are both Large Cap Value Equities funds. Over the past year, DIVN returned 18.87% vs 31.95% for ROE. A 0.55 correlation means they provide meaningful diversification when combined. DIVN charges 0.70%/yr vs 0.49%/yr for ROE.

Performance

DIVN vs. ROE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Dividend Income ETF (DIVN) and Astoria US Equal Weight Quality Kings ETF (ROE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVN achieves a 12.80% return, which is significantly lower than ROE's 19.86% return.

DIVN

• 1D: -0.78%
• 1M: -1.08%
• 6M: 9.54%
• YTD: 12.80%
• 1Y: 18.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ROE

• 1D: 0.32%
• 1M: -0.12%
• 6M: 15.51%
• YTD: 19.86%
• 1Y: 31.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVN vs. ROE - Yearly Performance Comparison

	2026 (YTD)	2025
DIVN Horizon Dividend Income ETF	12.80%	8.11%
ROE Astoria US Equal Weight Quality Kings ETF	19.86%	12.45%

Correlation

The correlation between DIVN and ROE is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.55

The correlation between DIVN and ROE has been stable across timeframes, ranging from 0.55 to 0.55 - a consistent structural relationship.

Return for Risk

DIVN vs. ROE — Risk / Return Rank

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

DIVN

DIVN Risk / Return Rank: 72
DIVN Sharpe Ratio Rank: 71
DIVN Sortino Ratio Rank: 77
DIVN Omega Ratio Rank: 68
DIVN Calmar Ratio Rank: 81
DIVN Martin Ratio Rank: 66

ROE

ROE Risk / Return Rank: 84
ROE Sharpe Ratio Rank: 85
ROE Sortino Ratio Rank: 81
ROE Omega Ratio Rank: 80
ROE Calmar Ratio Rank: 85
ROE Martin Ratio Rank: 90

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.

DIVN vs. ROE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Dividend Income ETF (DIVN) and Astoria US Equal Weight Quality Kings ETF (ROE). 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	ROE	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.15	-0.33
Sortino ratio: Return per unit of downside risk	2.73	2.89	-0.16
Omega ratio: Gain probability vs. loss probability	1.32	1.37	-0.05
Calmar ratio: Return relative to maximum drawdown	3.41	3.71	-0.29
Martin ratio: Return relative to average drawdown	9.42	16.19	-6.77

DIVN vs. ROE - Sharpe Ratio Comparison

The current DIVN Sharpe Ratio is 1.82, which is comparable to the ROE Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of DIVN and ROE, 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. ROE - Drawdown Comparison

The maximum DIVN drawdown since its inception was -5.55%, smaller than the maximum ROE drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for DIVN and ROE.

Drawdown Indicators

	DIVN	ROE	Difference
Max Drawdown Largest peak-to-trough decline	-5.55%	-19.10%	+13.55%
Max Drawdown (1Y) Largest decline over 1 year	-5.55%	-8.66%	+3.11%
Current Drawdown Current decline from peak	-1.09%	-1.70%	+0.61%
Average Drawdown Average peak-to-trough decline	-1.38%	-2.54%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	1.98%	+0.03%

Volatility

DIVN vs. ROE - Volatility Comparison

The current volatility for Horizon Dividend Income ETF (DIVN) is 2.73%, while Astoria US Equal Weight Quality Kings ETF (ROE) has a volatility of 4.55%. This indicates that DIVN experiences smaller price fluctuations and is considered to be less risky than ROE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVN	ROE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.73%	4.55%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	7.42%	11.76%	-4.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	14.93%	-4.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.45%	15.93%	-5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.45%	15.93%	-5.48%

DIVN vs. ROE - Expense Ratio Comparison

DIVN has a 0.70% expense ratio, which is higher than ROE's 0.49% expense ratio.

Dividends

DIVN vs. ROE - Dividend Comparison

DIVN's dividend yield for the trailing twelve months is around 3.48%, more than ROE's 1.01% yield.

Position	TTM	2025	2024	2023
DIVN Horizon Dividend Income ETF	3.48%	1.47%	0.00%	0.00%
ROE Astoria US Equal Weight Quality Kings ETF	1.01%	0.97%	1.18%	0.68%

Frequently Asked Questions

Can I hold both DIVN and ROE in my portfolio?

DIVN and ROE have a correlation of 0.55, 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 ROE?

ROE has higher volatility (4.55%) compared to DIVN (2.73%). In terms of maximum drawdown, DIVN dropped -5.55% vs ROE's -19.10%.

Which ETF is better, DIVN or ROE?

On 1-year performance, ROE leads with 31.95% vs 18.87% for DIVN. On fees, ROE is cheaper at 0.49% per year. On volatility, DIVN has been the lower-risk option at 2.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVN or ROE?

Over the 1-year period, ROE has performed better with a 31.95% return vs 18.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVN or ROE?

ROE is cheaper with a 0.49% expense ratio, compared with 0.70% for DIVN.

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

DIVN has the higher dividend yield at 3.48%, compared with 1.01% for ROE.

What is the main difference between DIVN and ROE?

They also come from different issuers: Horizon and Astoria. Their fees differ too: 0.70% for DIVN and 0.49% for ROE.

Which has better risk-adjusted returns?

ROE currently has the higher Sharpe Ratio (2.15 vs 1.82), 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.