FRGN vs. NVIR
FRGN (Horizon International Equity ETF) and NVIR (Horizon Kinetics Energy Remediation ETF) are both exchange-traded funds - FRGN is a Foreign Large Cap Equities fund actively managed by Horizon, while NVIR is a Energy Equities fund actively managed by Horizon. Both are actively managed. Their 0.14 correlation means their historical movements had little consistent relationship. FRGN charges 0.75%/yr vs 0.85%/yr for NVIR.
Performance
FRGN vs. NVIR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FRGN having a 20.46% return and NVIR slightly lower at 19.81%.
FRGN
- 1D
- 0.09%
- 1M
- -0.38%
- 6M
- 11.40%
- YTD
- 20.46%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
NVIR
- 1D
- -0.05%
- 1M
- 3.87%
- 6M
- 9.16%
- YTD
- 19.81%
- 1Y
- 32.89%
- 3Y*
- 14.40%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.82M | $4.12M | $1.69M | |
| $13.27K | $13.84K | $23.31K |
FRGN vs. NVIR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FRGN Horizon International Equity ETF | 20.46% | 1.47% |
NVIR Horizon Kinetics Energy Remediation ETF | 19.81% | -0.18% |
Correlation
The correlation between FRGN and NVIR is 0.14, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025 | 0.14 |
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Return for Risk
FRGN vs. NVIR — Risk / Return Rank
FRGN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
NVIR
FRGN vs. NVIR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and Horizon Kinetics Energy Remediation ETF (NVIR). 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.
| FRGN | NVIR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.64 | — |
| Martin ratioReturn relative to average drawdown | — | 9.55 | — |
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Drawdowns
FRGN vs. NVIR - Drawdown Comparison
The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum NVIR drawdown of -22.47%. Use the drawdown chart below to compare losses from any high point for FRGN and NVIR.
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Drawdown Indicators
| FRGN | NVIR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.40% | -22.47% | +10.07% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.47% | — |
Current DrawdownCurrent decline from peak | -4.42% | -4.96% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -4.66% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.45% | — |
Volatility
FRGN vs. NVIR - Volatility Comparison
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Volatility by Period
| FRGN | NVIR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.68% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.93% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 21.95% | 16.92% | +5.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.95% | 19.25% | +2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.95% | 19.25% | +2.70% |
FRGN vs. NVIR - Expense Ratio Comparison
FRGN has a 0.75% expense ratio, which is lower than NVIR's 0.85% expense ratio.
Dividends
FRGN vs. NVIR - Dividend Comparison
FRGN's dividend yield for the trailing twelve months is around 0.21%, less than NVIR's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FRGN Horizon International Equity ETF | 0.21% | 0.25% | 0.00% | 0.00% |
NVIR Horizon Kinetics Energy Remediation ETF | 0.76% | 0.92% | 1.50% | 1.34% |
Frequently Asked Questions
FRGN and NVIR have a correlation of 0.14, 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 0.85% for NVIR.
NVIR has the higher dividend yield at 0.76%, compared with 0.21% for FRGN.
FRGN is categorized as Foreign Large Cap Equities, while NVIR is Energy Equities. Their fees differ too: 0.75% for FRGN and 0.85% for NVIR.
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