PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FRGN vs. DBAW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FRGN vs. DBAW

Last updated Jun 24, 2026

FRGN (Horizon International Equity ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both Foreign Large Cap Equities funds. FRGN is actively managed, while DBAW is passively managed. Their correlation of 0.89 suggests significant overlap in exposure. FRGN charges 0.75%/yr vs 0.41%/yr for DBAW.

Performance

FRGN vs. DBAW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Equity ETF (FRGN) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FRGN achieves a 21.88% return, which is significantly higher than DBAW's 16.10% return.

FRGN

1D
-3.30%
1M
1.00%
YTD
21.88%
6M
21.77%
1Y
—
3Y*
—
5Y*
—
10Y*
—

DBAW

1D
-0.03%
1M
2.58%
YTD
16.10%
6M
16.15%
1Y
34.08%
3Y*
21.47%
5Y*
11.15%
10Y*
11.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FRGN vs. DBAW - Yearly Performance Comparison

2026 (YTD)2025
FRGN
Horizon International Equity ETF		21.88%1.47%
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		16.10%2.32%

Correlation

The correlation between FRGN and DBAW is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Dec 3, 2025

0.89

FRGN vs. DBAW - Sectors Allocation Comparison

Sectors
FRGN
DBAW

Technology

23.2%
22.4%

Basic Materials

10.3%
6.9%

Energy

8.7%
4.8%

Communication Services

4.9%
4.9%

Real Estate

1.4%
1.4%

Utilities

1.2%
2.9%

Financial Services

1.1%
23.2%

Consumer Cyclical

0.4%
7.6%

Healthcare

0.3%
6.8%

Industrials

0.3%
14.3%

Consumer Defensive

0.2%
5.0%

Technology

FRGN
23.2%
DBAW
22.4%

Basic Materials

FRGN
10.3%
DBAW
6.9%

Energy

FRGN
8.7%
DBAW
4.8%

Communication Services

FRGN
4.9%
DBAW
4.9%

Real Estate

FRGN
1.4%
DBAW
1.4%

Utilities

FRGN
1.2%
DBAW
2.9%

Financial Services

FRGN
1.1%
DBAW
23.2%

Consumer Cyclical

FRGN
0.4%
DBAW
7.6%

Healthcare

FRGN
0.3%
DBAW
6.8%

Industrials

FRGN
0.3%
DBAW
14.3%

Consumer Defensive

FRGN
0.2%
DBAW
5.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Horizon International Equity ETF

Xtrackers MSCI All World ex US Hedged Equity ETF

Often compared with FRGN:
FRGN vs. SFTXFRGN vs. YNOTFRGN vs. SMOXFRGN vs. HBTAFRGN vs. GMOIFRGN vs. QGRDFRGN vs. SFTY
Often compared with DBAW:
DBAW vs. HAWXDBAW vs. HFXIDBAW vs. MDIJXDBAW vs. GSIEDBAW vs. BROIXDBAW vs. BKIEDBAW vs. DXJ

Return for Risk

FRGN vs. DBAW — Risk / Return Rank

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

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

DBAW
DBAW Risk / Return Rank: 8484
Overall Rank
DBAW Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
DBAW Sortino Ratio Rank: 8383
Sortino Ratio Rank
DBAW Omega Ratio Rank: 8787
Omega Ratio Rank
DBAW Calmar Ratio Rank: 8181
Calmar Ratio Rank
DBAW Martin Ratio Rank: 8484
Martin Ratio Rank
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.

FRGN vs. DBAW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.

FRGNDBAWDifference
Sharpe ratioReturn per unit of total volatility

—

2.45

—

Sortino ratioReturn per unit of downside risk

—

3.28

—

Omega ratioGain probability vs. loss probability

—

1.48

—

Calmar ratioReturn relative to maximum drawdown

—

3.81

—

Martin ratioReturn relative to average drawdown

—

15.40

—

FRGN vs. DBAW - Sharpe Ratio Comparison

Loading charts...

Drawdowns

FRGN vs. DBAW - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum DBAW drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for FRGN and DBAW.

Loading charts...

Drawdown Indicators

FRGNDBAWDifference

Max Drawdown

Largest peak-to-trough decline

-12.40%

-31.44%

+19.04%

Max Drawdown (1Y)

Largest decline over 1 year

—

-9.00%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.11%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-17.87%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.44%

—

Current Drawdown

Current decline from peak

-3.30%

-2.73%

-0.57%

Average Drawdown

Average peak-to-trough decline

-2.36%

-4.98%

+2.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.22%

—

Volatility

FRGN vs. DBAW - Volatility Comparison

Loading charts...

Volatility by Period

FRGNDBAWDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

6.39%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

12.32%

—

Volatility (1Y)

Calculated over the trailing 1-year period

22.41%

14.01%

+8.40%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.41%

13.96%

+8.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.41%

15.21%

+7.20%

FRGN vs. DBAW - Expense Ratio Comparison

FRGN has a 0.75% expense ratio, which is higher than DBAW's 0.41% expense ratio.

Dividends

FRGN vs. DBAW - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.21%, less than DBAW's 1.69% yield.

PositionTTM20252024202320222021202020192018201720162015
DBAW
Xtrackers MSCI All World ex US Hedged Equity ETF		1.69%3.83%1.70%3.45%8.81%2.05%2.08%2.91%2.93%2.41%1.99%5.74%
FRGN
Horizon International Equity ETF		0.21%0.25%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FRGN and DBAW have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DBAW is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DBAW is cheaper with a 0.41% expense ratio, compared with 0.75% for FRGN.

DBAW has the higher dividend yield at 1.69%, compared with 0.21% for FRGN.

They also come from different issuers: Horizon and Deutsche Bank. Their fees differ too: 0.75% for FRGN and 0.41% for DBAW.

Portfolio Optimizer

Find the right allocation for FRGN and DBAW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer