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FRGN vs. FDT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FRGN vs. FDT

Last updated Jun 25, 2026

FRGN (Horizon International Equity ETF) and FDT (First Trust Developed Markets ex-US AlphaDEX Fund) are both Foreign Large Cap Equities funds. FRGN is actively managed, while FDT is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. FRGN charges 0.75%/yr vs 0.80%/yr for FDT.

Performance

FRGN vs. FDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Equity ETF (FRGN) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FRGN achieves a 21.19% return, which is significantly higher than FDT's 20.11% return.

FRGN

1D
-0.56%
1M
0.43%
YTD
21.19%
6M
20.90%
1Y
—
3Y*
—
5Y*
—
10Y*
—

FDT

1D
-0.31%
1M
-2.05%
YTD
20.11%
6M
19.29%
1Y
44.07%
3Y*
27.88%
5Y*
12.08%
10Y*
11.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FRGN vs. FDT - Yearly Performance Comparison

2026 (YTD)2025
FRGN
Horizon International Equity ETF		21.19%1.47%
FDT
First Trust Developed Markets ex-US AlphaDEX Fund		20.11%3.14%

Correlation

The correlation between FRGN and FDT is 0.90, 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

0.90

FRGN vs. FDT - Sectors Allocation Comparison

Sectors
FRGN
FDT

Technology

23.2%
12.1%

Basic Materials

10.3%
9.4%

Energy

8.7%
7.9%

Communication Services

4.9%
2.8%

Real Estate

1.4%
5.0%

Utilities

1.2%
4.8%

Financial Services

1.1%
9.9%

Consumer Cyclical

0.4%
11.9%

Healthcare

0.3%
1.3%

Industrials

0.3%
32.4%

Consumer Defensive

0.2%
2.5%

Technology

FRGN
23.2%
FDT
12.1%

Basic Materials

FRGN
10.3%
FDT
9.4%

Energy

FRGN
8.7%
FDT
7.9%

Communication Services

FRGN
4.9%
FDT
2.8%

Real Estate

FRGN
1.4%
FDT
5.0%

Utilities

FRGN
1.2%
FDT
4.8%

Financial Services

FRGN
1.1%
FDT
9.9%

Consumer Cyclical

FRGN
0.4%
FDT
11.9%

Healthcare

FRGN
0.3%
FDT
1.3%

Industrials

FRGN
0.3%
FDT
32.4%

Consumer Defensive

FRGN
0.2%
FDT
2.5%

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

First Trust Developed Markets ex-US AlphaDEX Fund

Often compared with FRGN:
FRGN vs. SFTXFRGN vs. YNOTFRGN vs. SMOXFRGN vs. HBTAFRGN vs. GMOIFRGN vs. QGRDFRGN vs. SFTY
Often compared with FDT:
FDT vs. FIDZXFDT vs. VEAFDT vs. QQQFDT vs. SCHFFDT vs. VTIFDT vs. VOOFDT vs. SDY

Return for Risk

FRGN vs. FDT — 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.

FDT
FDT Risk / Return Rank: 7474
Overall Rank
FDT Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
FDT Sortino Ratio Rank: 7070
Sortino Ratio Rank
FDT Omega Ratio Rank: 7777
Omega Ratio Rank
FDT Calmar Ratio Rank: 7373
Calmar Ratio Rank
FDT Martin Ratio Rank: 7474
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. FDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). 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.

FRGNFDTDifference
Sharpe ratioReturn per unit of total volatility

—

2.19

—

Sortino ratioReturn per unit of downside risk

—

2.84

—

Omega ratioGain probability vs. loss probability

—

1.40

—

Calmar ratioReturn relative to maximum drawdown

—

3.30

—

Martin ratioReturn relative to average drawdown

—

12.36

—

FRGN vs. FDT - Sharpe Ratio Comparison

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Drawdowns

FRGN vs. FDT - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum FDT drawdown of -46.10%. Use the drawdown chart below to compare losses from any high point for FRGN and FDT.

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Drawdown Indicators

FRGNFDTDifference

Max Drawdown

Largest peak-to-trough decline

-12.40%

-46.10%

+33.70%

Max Drawdown (1Y)

Largest decline over 1 year

—

-13.41%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-14.29%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-32.80%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-46.10%

—

Current Drawdown

Current decline from peak

-3.84%

-5.81%

+1.97%

Average Drawdown

Average peak-to-trough decline

-2.37%

-10.75%

+8.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.57%

—

Volatility

FRGN vs. FDT - Volatility Comparison

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Volatility by Period

FRGNFDTDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

9.80%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

18.02%

—

Volatility (1Y)

Calculated over the trailing 1-year period

22.35%

20.20%

+2.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.35%

18.58%

+3.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.35%

18.54%

+3.81%

FRGN vs. FDT - Expense Ratio Comparison

FRGN has a 0.75% expense ratio, which is lower than FDT's 0.80% expense ratio.

Dividends

FRGN vs. FDT - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.21%, less than FDT's 2.97% yield.

PositionTTM20252024202320222021202020192018201720162015
FDT
First Trust Developed Markets ex-US AlphaDEX Fund		2.97%3.27%3.89%4.36%2.29%3.80%2.42%2.78%2.13%1.57%1.76%1.83%
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 FDT have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FRGN is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FRGN is cheaper with a 0.75% expense ratio, compared with 0.80% for FDT.

FDT has the higher dividend yield at 2.97%, compared with 0.21% for FRGN.

They also come from different issuers: Horizon and First Trust. Their fees differ too: 0.75% for FRGN and 0.80% for FDT.

Portfolio Optimizer

Find the right allocation for FRGN and FDT

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

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