HBTA vs. SOXY

Last updated Aug 4, 2026

HBTA (Horizon Expedition Plus ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, HBTA returned 25.86% vs 95.22% for SOXY. Their correlation of 0.80 means they have usually moved in the same direction. HBTA charges 0.85%/yr vs 1.06%/yr for SOXY.

Performance

HBTA vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Expedition Plus ETF (HBTA) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HBTA achieves a 10.56% return, which is significantly lower than SOXY's 59.66% return.

HBTA

• 1D: 2.33%
• 1M: -0.34%
• 6M: 8.25%
• YTD: 10.56%
• 1Y: 25.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.03%

SOXY

• 1D: 0.84%
• 1M: -11.28%
• 6M: 41.13%
• YTD: 59.66%
• 1Y: 95.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 59.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HBTA Horizon Expedition Plus ETF	$6.09M	$3.31M	$2.82M
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.40M	$2.09M

HBTA vs. SOXY - Yearly Performance Comparison

	2026 (YTD)	2025
HBTA Horizon Expedition Plus ETF	10.56%	14.96%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	59.66%	25.05%

Correlation

The correlation between HBTA and SOXY is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.80

The correlation between HBTA and SOXY has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

Return for Risk

HBTA vs. SOXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HBTA

HBTA Risk / Return Rank: 51
HBTA Sharpe Ratio Rank: 49
HBTA Sortino Ratio Rank: 48
HBTA Omega Ratio Rank: 47
HBTA Calmar Ratio Rank: 51
HBTA Martin Ratio Rank: 60

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 92
SOXY Sortino Ratio Rank: 84
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HBTA vs. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Expedition Plus ETF (HBTA) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.41	-1.10
Sortino ratio: Return per unit of downside risk	1.88	2.81	-0.93
Omega ratio: Gain probability vs. loss probability	1.23	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	1.97	3.35	-1.38
Martin ratio: Return relative to average drawdown	7.73	14.82	-7.09

HBTA vs. SOXY - Sharpe Ratio Comparison

The current HBTA Sharpe Ratio is 1.31, which is lower than the SOXY Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of HBTA and SOXY, 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. SOXY - Drawdown Comparison

The maximum HBTA drawdown since its inception was -26.73%, smaller than the maximum SOXY drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for HBTA and SOXY.

Drawdown Indicators

	HBTA	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-26.73%	-30.22%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	-13.18%	-28.56%	+15.38%
Current Drawdown Current decline from peak	-3.73%	-21.05%	+17.32%
Average Drawdown Average peak-to-trough decline	-4.18%	-5.53%	+1.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	6.45%	-3.10%

Volatility

HBTA vs. SOXY - Volatility Comparison

The current volatility for Horizon Expedition Plus ETF (HBTA) is 8.65%, while YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a volatility of 17.94%. This indicates that HBTA experiences smaller price fluctuations and is considered to be less risky than SOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HBTA	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.65%	17.94%	-9.29%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	35.55%	-19.02%
Volatility (1Y) Calculated over the trailing 1-year period	19.87%	39.88%	-20.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	39.26%	-14.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.18%	39.26%	-14.08%

HBTA vs. SOXY - Expense Ratio Comparison

HBTA has a 0.85% expense ratio, which is lower than SOXY's 1.06% expense ratio.

Dividends

HBTA vs. SOXY - Dividend Comparison

HBTA's dividend yield for the trailing twelve months is around 0.58%, less than SOXY's 9.34% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.58%	0.64%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.34%	11.47%

Frequently Asked Questions

Can I hold both HBTA and SOXY in my portfolio?

HBTA and SOXY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HBTA or SOXY?

SOXY has higher volatility (17.94%) compared to HBTA (8.65%). In terms of maximum drawdown, HBTA dropped -26.73% vs SOXY's -30.22%.

Which ETF is better, HBTA or SOXY?

On 1-year performance, SOXY leads with 95.22% vs 25.86% for HBTA. On fees, HBTA is cheaper at 0.85% per year. On volatility, HBTA has been the lower-risk option at 8.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HBTA or SOXY?

Over the 1-year period, SOXY has performed better with a 95.22% return vs 25.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HBTA or SOXY?

HBTA is cheaper with a 0.85% expense ratio, compared with 1.06% for SOXY.

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

SOXY has the higher dividend yield at 9.34%, compared with 0.58% for HBTA.

What is the main difference between HBTA and SOXY?

They also come from different issuers: Horizon and YieldMax. Their fees differ too: 0.85% for HBTA and 1.06% for SOXY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (2.41 vs 1.31), 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.