HBTA vs. SFTY

Last updated Jul 14, 2026

HBTA (Horizon Expedition Plus ETF) and SFTY (Horizon Managed Risk ETF) are both exchange-traded funds - HBTA is a Derivative Income fund actively managed by Horizon, while SFTY is a Tactical Allocation fund managed by Horizon. Over the past year, HBTA returned 27.18% vs 21.14% for SFTY. Their correlation of 0.94 suggests significant overlap in exposure. HBTA charges 0.85%/yr vs 0.77%/yr for SFTY.

Performance

HBTA vs. SFTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Expedition Plus ETF (HBTA) and Horizon Managed Risk ETF (SFTY). 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 higher than SFTY's 9.81% return.

HBTA

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

SFTY

• 1D: -0.71%
• 1M: 1.41%
• 6M: 7.64%
• YTD: 9.81%
• 1Y: 21.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HBTA vs. SFTY - Yearly Performance Comparison

	2026 (YTD)	2025
HBTA Horizon Expedition Plus ETF	11.62%	17.93%
SFTY Horizon Managed Risk ETF	9.81%	12.10%

Correlation

The correlation between HBTA and SFTY is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.94

The correlation between HBTA and SFTY has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

HBTA vs. SFTY — 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

SFTY

SFTY Risk / Return Rank: 68
SFTY Sharpe Ratio Rank: 69
SFTY Sortino Ratio Rank: 67
SFTY Omega Ratio Rank: 68
SFTY Calmar Ratio Rank: 62
SFTY Martin Ratio Rank: 75

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. SFTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Expedition Plus ETF (HBTA) and Horizon Managed Risk ETF (SFTY). 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	SFTY	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.77	-0.29
Sortino ratio: Return per unit of downside risk	2.04	2.46	-0.42
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.06
Calmar ratio: Return relative to maximum drawdown	2.07	2.46	-0.39
Martin ratio: Return relative to average drawdown	9.11	10.99	-1.89

HBTA vs. SFTY - Sharpe Ratio Comparison

The current HBTA Sharpe Ratio is 1.48, which is comparable to the SFTY Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of HBTA and SFTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HBTA vs. SFTY - Drawdown Comparison

The maximum HBTA drawdown since its inception was -26.73%, which is greater than SFTY's maximum drawdown of -8.64%. Use the drawdown chart below to compare losses from any high point for HBTA and SFTY.

Drawdown Indicators

	HBTA	SFTY	Difference
Max Drawdown Largest peak-to-trough decline	-26.73%	-8.64%	-18.09%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	-8.64%	-4.54%
Current Drawdown Current decline from peak	-2.80%	-0.71%	-2.09%
Average Drawdown Average peak-to-trough decline	-4.12%	-1.13%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	1.93%	+1.06%

Volatility

HBTA vs. SFTY - Volatility Comparison

Horizon Expedition Plus ETF (HBTA) has a higher volatility of 6.66% compared to Horizon Managed Risk ETF (SFTY) at 3.58%. This indicates that HBTA's price experiences larger fluctuations and is considered to be riskier than SFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBTA	SFTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	3.58%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	15.04%	9.45%	+5.59%
Volatility (1Y) Calculated over the trailing 1-year period	18.48%	12.03%	+6.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.83%	11.90%	+12.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.83%	11.90%	+12.93%

HBTA vs. SFTY - Expense Ratio Comparison

HBTA has a 0.85% expense ratio, which is higher than SFTY's 0.77% expense ratio.

Dividends

HBTA vs. SFTY - Dividend Comparison

HBTA's dividend yield for the trailing twelve months is around 0.57%, more than SFTY's 0.17% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.57%	0.64%
SFTY Horizon Managed Risk ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both HBTA and SFTY in my portfolio?

With a correlation of 0.95, HBTA and SFTY 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 is riskier, HBTA or SFTY?

HBTA has higher volatility (6.66%) compared to SFTY (3.58%). In terms of maximum drawdown, HBTA dropped -26.73% vs SFTY's -8.64%.

Which ETF is better, HBTA or SFTY?

On 1-year performance, HBTA leads with 27.18% vs 21.14% for SFTY. On fees, SFTY is cheaper at 0.77% per year. On volatility, SFTY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HBTA or SFTY?

Over the 1-year period, HBTA has performed better with a 27.18% return vs 21.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HBTA or SFTY?

SFTY is cheaper with a 0.77% expense ratio, compared with 0.85% for HBTA.

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

HBTA has the higher dividend yield at 0.57%, compared with 0.17% for SFTY.

What is the main difference between HBTA and SFTY?

HBTA is categorized as Derivative Income, while SFTY is Tactical Allocation. Their fees differ too: 0.85% for HBTA and 0.77% for SFTY.

Which has better risk-adjusted returns?

SFTY currently has the higher Sharpe Ratio (1.77 vs 1.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.