FRGN vs. IDEV

Last updated Jun 4, 2026

FRGN (Horizon International Equity ETF) and IDEV (iShares Core MSCI International Developed Markets ETF) are both Foreign Large Cap Equities funds. FRGN is actively managed, while IDEV is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. FRGN charges 0.75%/yr vs 0.05%/yr for IDEV.

Performance

FRGN vs. IDEV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Equity ETF (FRGN) and iShares Core MSCI International Developed Markets ETF (IDEV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRGN achieves a 24.35% return, which is significantly higher than IDEV's 8.92% return.

FRGN

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

IDEV

• 1D: -0.90%
• 1M: 3.23%
• YTD: 8.92%
• 6M: 11.57%
• 1Y: 23.20%
• 3Y*: 17.40%
• 5Y*: 8.48%
• 10Y*: —

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

FRGN vs. IDEV - Yearly Performance Comparison

	2026 (YTD)	2025
FRGN Horizon International Equity ETF	24.35%	1.47%
IDEV iShares Core MSCI International Developed Markets ETF	8.92%	2.43%

Correlation

The correlation between FRGN and IDEV 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. IDEV - Sectors Allocation Comparison

Sectors	FRGN	IDEV
Technology	28.2%	9.9%
Financial Services	16.2%	24.2%
Industrials	12.1%	19.1%
Healthcare	10.1%	8.6%
Basic Materials	8.6%	8.0%
Energy	8.0%	5.9%
Consumer Cyclical	5.9%	7.7%
Communication Services	4.5%	4.0%
Consumer Defensive	3.7%	6.0%
Utilities	1.9%	3.7%
Real Estate	0.9%	2.9%

Return for Risk

FRGN vs. IDEV — Risk / Return Rank

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

IDEV

IDEV Risk / Return Rank: 45
IDEV Sharpe Ratio Rank: 45
IDEV Sortino Ratio Rank: 45
IDEV Omega Ratio Rank: 44
IDEV Calmar Ratio Rank: 41
IDEV Martin Ratio Rank: 48

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. IDEV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and iShares Core MSCI International Developed Markets ETF (IDEV). 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	IDEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.61	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	0.55	+2.30

Drawdowns

FRGN vs. IDEV - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum IDEV drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for FRGN and IDEV.

Drawdown Indicators

	FRGN	IDEV	Difference
Max Drawdown Largest peak-to-trough decline	-12.40%	-34.77%	+22.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.20%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.15%	—
Current Drawdown Current decline from peak	-0.70%	-0.98%	+0.28%
Average Drawdown Average peak-to-trough decline	-2.40%	-6.57%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.85%	—

Volatility

Volatility by Period

	FRGN	IDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	14.51%	+6.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.33%	16.26%	+5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	17.27%	+4.06%

FRGN vs. IDEV - Expense Ratio Comparison

FRGN has a 0.75% expense ratio, which is higher than IDEV's 0.05% expense ratio.

Dividends

FRGN vs. IDEV - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.20%, less than IDEV's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IDEV iShares Core MSCI International Developed Markets ETF	3.13%	3.40%	3.30%	3.07%	2.69%	3.05%	2.00%	3.18%	3.16%	1.54%

Frequently Asked Questions

Can I hold both FRGN and IDEV in my portfolio?

With a correlation of 0.90, FRGN and IDEV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FRGN or IDEV?

On fees, IDEV is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRGN or IDEV?

IDEV is cheaper with a 0.05% expense ratio, compared with 0.75% for FRGN.

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

IDEV has the higher dividend yield at 3.13%, compared with 0.20% for FRGN.

What is the main difference between FRGN and IDEV?

They also come from different issuers: Horizon and iShares. Their fees differ too: 0.75% for FRGN and 0.05% for IDEV.