FRGN vs. SMOX

Last updated Jun 5, 2026

FRGN (Horizon International Equity ETF) and SMOX (Horizon Small/Mid Cap Core Equity ETF) are both exchange-traded funds - FRGN is a Foreign Large Cap Equities fund actively managed by Horizon, while SMOX is a Mid Cap Blend Equities fund actively managed by Horizon. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

FRGN vs. SMOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Equity ETF (FRGN) and Horizon Small/Mid Cap Core Equity ETF (SMOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRGN achieves a 24.67% return, which is significantly higher than SMOX's 17.59% return.

FRGN

• 1D: 0.26%
• 1M: 5.99%
• YTD: 24.67%
• 6M: 26.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMOX

• 1D: 0.42%
• 1M: 1.48%
• YTD: 17.59%
• 6M: 17.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FRGN vs. SMOX - Yearly Performance Comparison

	2026 (YTD)	2025
FRGN Horizon International Equity ETF	24.67%	1.47%
SMOX Horizon Small/Mid Cap Core Equity ETF	17.59%	0.44%

Correlation

The correlation between FRGN and SMOX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.69

FRGN vs. SMOX - Sectors Allocation Comparison

Sectors	FRGN	SMOX
Technology	28.2%	14.4%
Financial Services	16.2%	15.3%
Industrials	12.1%	22.1%
Healthcare	10.1%	8.8%
Basic Materials	8.6%	4.0%
Energy	8.0%	8.0%
Consumer Cyclical	5.9%	11.4%
Communication Services	4.5%	1.6%
Consumer Defensive	3.7%	4.9%
Utilities	1.9%	1.9%
Real Estate	0.9%	7.6%

Return for Risk

FRGN vs. SMOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and Horizon Small/Mid Cap Core Equity ETF (SMOX). 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	SMOX	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.86	2.58	+0.28

Drawdowns

FRGN vs. SMOX - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, which is greater than SMOX's maximum drawdown of -7.76%. Use the drawdown chart below to compare losses from any high point for FRGN and SMOX.

Drawdown Indicators

	FRGN	SMOX	Difference
Max Drawdown Largest peak-to-trough decline	-12.40%	-7.76%	-4.64%
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.39%	-1.47%	-0.92%

Volatility

Volatility by Period

	FRGN	SMOX	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.25%	15.49%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.25%	15.49%	+5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.25%	15.49%	+5.76%

FRGN vs. SMOX - Expense Ratio Comparison

Both FRGN and SMOX have an expense ratio of 0.75%.

Dividends

FRGN vs. SMOX - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.20%, more than SMOX's 0.07% yield.

Position	TTM	2025
FRGN Horizon International Equity ETF	0.20%	0.25%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%

Frequently Asked Questions

Can I hold both FRGN and SMOX in my portfolio?

FRGN and SMOX have a correlation of 0.69, 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 SMOX?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRGN or SMOX?

FRGN and SMOX have the same expense ratio: 0.75% per year.

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

FRGN has the higher dividend yield at 0.20%, compared with 0.07% for SMOX.

What is the main difference between FRGN and SMOX?

FRGN is categorized as Foreign Large Cap Equities, while SMOX is Mid Cap Blend Equities.