FRGN vs. FDT

Last updated Jun 4, 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.

Returns By Period

The year-to-date returns for both investments are quite close, with FRGN having a 24.35% return and FDT slightly higher at 25.50%.

FRGN

• 1D: -0.70%
• 1M: 8.09%
• YTD: 24.35%
• 6M: 26.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDT

• 1D: -0.64%
• 1M: 5.22%
• YTD: 25.50%
• 6M: 28.63%
• 1Y: 55.05%
• 3Y*: 30.08%
• 5Y*: 12.55%
• 10Y*: 10.91%

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

FRGN vs. FDT - Yearly Performance Comparison

	2026 (YTD)	2025
FRGN Horizon International Equity ETF	24.35%	1.47%
FDT First Trust Developed Markets ex-US AlphaDEX Fund	25.50%	2.50%

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 4, 2025	0.90

FRGN vs. FDT - Sectors Allocation Comparison

Sectors	FRGN	FDT
Technology	28.2%	8.1%
Financial Services	16.2%	10.2%
Industrials	12.1%	34.0%
Healthcare	10.1%	1.4%
Basic Materials	8.6%	9.6%
Energy	8.0%	9.2%
Consumer Cyclical	5.9%	11.5%
Communication Services	4.5%	2.7%
Consumer Defensive	3.7%	2.8%
Utilities	1.9%	5.2%
Real Estate	0.9%	5.3%

Return for Risk

FRGN vs. FDT — Risk / Return Rank

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

FDT

FDT Risk / Return Rank: 84
FDT Sharpe Ratio Rank: 88
FDT Sortino Ratio Rank: 84
FDT Omega Ratio Rank: 86
FDT Calmar Ratio Rank: 79
FDT Martin Ratio Rank: 81

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.

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

Sharpe Ratios by Period

	FRGN	FDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.00	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	0.40	+2.45

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.

Drawdown Indicators

	FRGN	FDT	Difference
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	—	-33.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.10%	—
Current Drawdown Current decline from peak	-0.70%	-1.59%	+0.89%
Average Drawdown Average peak-to-trough decline	-2.40%	-10.78%	+8.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.43%	—

Volatility

Volatility by Period

	FRGN	FDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	18.42%	+2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.33%	18.23%	+3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	18.52%	+2.81%

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 0.20%, less than FDT's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.84%	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	0.20%	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

Can I hold both FRGN and FDT in my portfolio?

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.

Which ETF is better, FRGN or FDT?

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.

Which ETF is cheaper, FRGN or FDT?

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

Which ETF pays a higher dividend yield, FRGN or FDT?

FDT has the higher dividend yield at 2.84%, compared with 0.20% for FRGN.

What is the main difference between FRGN and FDT?

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