FRGN vs. VEA

Last updated Jun 24, 2026

FRGN (Horizon International Equity ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both Foreign Large Cap Equities funds. FRGN is actively managed, while VEA is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. FRGN charges 0.75%/yr vs 0.03%/yr for VEA.

Performance

FRGN vs. VEA - Performance Comparison

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

Returns By Period

In the year-to-date period, FRGN achieves a 21.88% return, which is significantly higher than VEA's 13.29% return.

FRGN

• 1D: -3.30%
• 1M: 1.00%
• YTD: 21.88%
• 6M: 21.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VEA

• 1D: 0.16%
• 1M: 0.27%
• YTD: 13.29%
• 6M: 12.91%
• 1Y: 28.78%
• 3Y*: 19.54%
• 5Y*: 9.47%
• 10Y*: 10.74%

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

FRGN vs. VEA - Yearly Performance Comparison

	2026 (YTD)	2025
FRGN Horizon International Equity ETF	21.88%	1.47%
VEA Vanguard FTSE Developed Markets ETF	13.29%	3.36%

Correlation

The correlation between FRGN and VEA is 0.93, 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	0.93

FRGN vs. VEA - Sectors Allocation Comparison

Sectors	FRGN	VEA
Technology	23.2%	16.6%
Basic Materials	10.3%	7.5%
Energy	8.7%	4.7%
Communication Services	4.9%	3.2%
Real Estate	1.4%	2.5%
Utilities	1.2%	3.0%
Financial Services	1.1%	22.3%
Consumer Cyclical	0.4%	7.4%
Healthcare	0.3%	7.6%
Industrials	0.3%	17.5%
Consumer Defensive	0.2%	5.5%

Return for Risk

FRGN vs. VEA — 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.

VEA

VEA Risk / Return Rank: 57
VEA Sharpe Ratio Rank: 56
VEA Sortino Ratio Rank: 55
VEA Omega Ratio Rank: 57
VEA Calmar Ratio Rank: 56
VEA Martin Ratio Rank: 59

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. VEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Equity ETF (FRGN) and Vanguard FTSE Developed Markets ETF (VEA). 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	VEA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.73	—
Sortino ratio: Return per unit of downside risk	—	2.38	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	2.49	—
Martin ratio: Return relative to average drawdown	—	9.55	—

Drawdowns

FRGN vs. VEA - Drawdown Comparison

The maximum FRGN drawdown since its inception was -12.40%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for FRGN and VEA.

Drawdown Indicators

	FRGN	VEA	Difference
Max Drawdown Largest peak-to-trough decline	-12.40%	-60.68%	+48.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.63%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.73%	—
Current Drawdown Current decline from peak	-3.30%	-2.91%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.36%	-13.26%	+10.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.02%	—

Volatility

Volatility by Period

	FRGN	VEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.41%	16.78%	+5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.41%	16.76%	+5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	17.20%	+5.21%

FRGN vs. VEA - Expense Ratio Comparison

FRGN has a 0.75% expense ratio, which is higher than VEA's 0.03% expense ratio.

Dividends

FRGN vs. VEA - Dividend Comparison

FRGN's dividend yield for the trailing twelve months is around 0.21%, less than VEA's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VEA Vanguard FTSE Developed Markets ETF	2.58%	3.22%	3.35%	3.15%	2.91%	3.16%	2.04%	3.04%	3.35%	2.77%	3.05%	2.92%

Frequently Asked Questions

Can I hold both FRGN and VEA in my portfolio?

With a correlation of 0.93, FRGN and VEA 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 VEA?

On fees, VEA is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRGN or VEA?

VEA is cheaper with a 0.03% expense ratio, compared with 0.75% for FRGN.

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

VEA has the higher dividend yield at 2.58%, compared with 0.21% for FRGN.

What is the main difference between FRGN and VEA?

They also come from different issuers: Horizon and Vanguard. Their fees differ too: 0.75% for FRGN and 0.03% for VEA.