DIVN vs. SMOX

Last updated Jun 4, 2026

DIVN (Horizon Dividend Income ETF) and SMOX (Horizon Small/Mid Cap Core Equity ETF) are both exchange-traded funds - DIVN is a Large Cap Value Equities fund managed by Horizon, while SMOX is a Mid Cap Blend Equities fund actively managed by Horizon. A 0.56 correlation means they provide meaningful diversification when combined. DIVN charges 0.70%/yr vs 0.75%/yr for SMOX.

Performance

DIVN vs. SMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Dividend Income ETF (DIVN) and Horizon Small/Mid Cap Core Equity ETF (SMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVN achieves a 11.87% return, which is significantly lower than SMOX's 17.11% return.

DIVN

• 1D: 0.21%
• 1M: 3.29%
• YTD: 11.87%
• 6M: 11.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMOX

• 1D: 0.05%
• 1M: 2.23%
• YTD: 17.11%
• 6M: 17.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVN vs. SMOX - Yearly Performance Comparison

	2026 (YTD)	2025
DIVN Horizon Dividend Income ETF	11.87%	-0.30%
SMOX Horizon Small/Mid Cap Core Equity ETF	17.11%	0.44%

Correlation

The correlation between DIVN and SMOX is 0.56, 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	0.56

Return for Risk

DIVN vs. SMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Dividend Income ETF (DIVN) and Horizon Small/Mid Cap Core Equity ETF (SMOX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DIVN	SMOX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.13	2.52	-0.40

Drawdowns

DIVN vs. SMOX - Drawdown Comparison

The maximum DIVN drawdown since its inception was -5.55%, smaller than the maximum SMOX drawdown of -7.76%. Use the drawdown chart below to compare losses from any high point for DIVN and SMOX.

Drawdown Indicators

	DIVN	SMOX	Difference
Max Drawdown Largest peak-to-trough decline	-5.55%	-7.76%	+2.21%
Current Drawdown Current decline from peak	-0.63%	-0.04%	-0.59%
Average Drawdown Average peak-to-trough decline	-1.45%	-1.49%	+0.04%

Volatility

Volatility by Period

	DIVN	SMOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	15.55%	-4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	15.55%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.56%	15.55%	-4.99%

DIVN vs. SMOX - Expense Ratio Comparison

DIVN has a 0.70% expense ratio, which is lower than SMOX's 0.75% expense ratio.

Dividends

DIVN vs. SMOX - Dividend Comparison

DIVN's dividend yield for the trailing twelve months is around 3.12%, more than SMOX's 0.07% yield.

Position	TTM	2025
DIVN Horizon Dividend Income ETF	3.12%	1.47%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%

Frequently Asked Questions

Can I hold both DIVN and SMOX in my portfolio?

DIVN and SMOX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIVN or SMOX?

On fees, DIVN is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIVN or SMOX?

DIVN is cheaper with a 0.70% expense ratio, compared with 0.75% for SMOX.

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

DIVN has the higher dividend yield at 3.12%, compared with 0.07% for SMOX.

What is the main difference between DIVN and SMOX?

DIVN is categorized as Large Cap Value Equities, while SMOX is Mid Cap Blend Equities. Their fees differ too: 0.70% for DIVN and 0.75% for SMOX.