HBTA vs. SFTX

Last updated Jul 14, 2026

HBTA (Horizon Expedition Plus ETF) and SFTX (Horizon International Managed Risk ETF) are both exchange-traded funds - HBTA is a Derivative Income fund actively managed by Horizon, while SFTX is a Tactical Allocation fund actively managed by Horizon. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. HBTA charges 0.85%/yr vs 0.82%/yr for SFTX.

Performance

HBTA vs. SFTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Expedition Plus ETF (HBTA) and Horizon International Managed Risk ETF (SFTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBTA achieves a 11.62% return, which is significantly lower than SFTX's 17.62% return.

HBTA

• 1D: -1.62%
• 1M: 0.93%
• 6M: 9.32%
• YTD: 11.62%
• 1Y: 27.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SFTX

• 1D: -1.69%
• 1M: -3.63%
• 6M: 11.92%
• YTD: 17.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HBTA vs. SFTX - Yearly Performance Comparison

	2026 (YTD)	2025
HBTA Horizon Expedition Plus ETF	11.62%	0.46%
SFTX Horizon International Managed Risk ETF	17.62%	1.61%

Correlation

The correlation between HBTA and SFTX is 0.81, 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	0.81

Return for Risk

HBTA vs. SFTX — Risk / Return Rank

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

HBTA

HBTA Risk / Return Rank: 55
HBTA Sharpe Ratio Rank: 54
HBTA Sortino Ratio Rank: 52
HBTA Omega Ratio Rank: 53
HBTA Calmar Ratio Rank: 52
HBTA Martin Ratio Rank: 64

SFTX

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

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.

HBTA vs. SFTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Expedition Plus ETF (HBTA) and Horizon International Managed Risk ETF (SFTX). 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.

	HBTA	SFTX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	—	—
Sortino ratio: Return per unit of downside risk	2.04	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.07	—	—
Martin ratio: Return relative to average drawdown	9.11	—	—

Drawdowns

HBTA vs. SFTX - Drawdown Comparison

The maximum HBTA drawdown since its inception was -26.73%, which is greater than SFTX's maximum drawdown of -12.75%. Use the drawdown chart below to compare losses from any high point for HBTA and SFTX.

Drawdown Indicators

	HBTA	SFTX	Difference
Max Drawdown Largest peak-to-trough decline	-26.73%	-12.75%	-13.98%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	—	—
Current Drawdown Current decline from peak	-2.80%	-4.81%	+2.01%
Average Drawdown Average peak-to-trough decline	-4.12%	-2.75%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	—	—

Volatility

Volatility by Period

	HBTA	SFTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	22.56%	-4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.83%	22.56%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.83%	22.56%	+2.27%

HBTA vs. SFTX - Expense Ratio Comparison

HBTA has a 0.85% expense ratio, which is higher than SFTX's 0.82% expense ratio.

Dividends

HBTA vs. SFTX - Dividend Comparison

HBTA's dividend yield for the trailing twelve months is around 0.57%, more than SFTX's 0.21% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.57%	0.64%
SFTX Horizon International Managed Risk ETF	0.21%	0.25%

Frequently Asked Questions

Can I hold both HBTA and SFTX in my portfolio?

HBTA and SFTX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HBTA or SFTX?

On fees, SFTX is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HBTA or SFTX?

SFTX is cheaper with a 0.82% expense ratio, compared with 0.85% for HBTA.

Which ETF pays a higher dividend yield, HBTA or SFTX?

HBTA has the higher dividend yield at 0.57%, compared with 0.21% for SFTX.

What is the main difference between HBTA and SFTX?

HBTA is categorized as Derivative Income, while SFTX is Tactical Allocation. Their fees differ too: 0.85% for HBTA and 0.82% for SFTX.