HNDDX vs. ARANX
HNDDX (Horizon Active Dividend Fund) and ARANX (Horizon Active Risk Assist Fund) are both mutual funds - HNDDX is a Large Cap Value Equities fund managed by Horizon, while ARANX is a Diversified Portfolio fund managed by Horizon. Over the past 5 years, HNDDX returned 10.84%/yr vs 7.02%/yr for ARANX. Their correlation of 0.86 means they have usually moved in the same direction. HNDDX charges 1.10%/yr vs 1.17%/yr for ARANX.
Performance
HNDDX vs. ARANX - Performance Comparison
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Returns By Period
In the year-to-date period, HNDDX achieves a 10.90% return, which is significantly higher than ARANX's 9.72% return.
HNDDX
- 1D
- 0.59%
- 1M
- 0.43%
- 6M
- 7.27%
- YTD
- 10.90%
- 1Y
- 22.25%
- 3Y*
- 17.86%
- 5Y*
- 10.84%
- 10Y*
- —
- ALL TIME*
- 9.76%
ARANX
- 1D
- 0.44%
- 1M
- -0.22%
- 6M
- 6.33%
- YTD
- 9.72%
- 1Y
- 19.97%
- 3Y*
- 14.12%
- 5Y*
- 7.02%
- 10Y*
- 7.65%
- ALL TIME*
- 6.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
HNDDX vs. ARANX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HNDDX Horizon Active Dividend Fund | 10.90% | 18.89% | 21.66% | 6.24% | -6.91% | 20.42% | -3.24% | 17.20% | -8.46% | 22.95% |
ARANX Horizon Active Risk Assist Fund | 9.72% | 14.03% | 13.60% | 16.70% | -19.38% | 20.69% | 4.25% | 12.63% | -7.49% | 18.06% |
Correlation
The correlation between HNDDX and ARANX is 0.93, 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. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.86 |
The correlation between HNDDX and ARANX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
HNDDX vs. ARANX — Risk / Return Rank
HNDDX
ARANX
HNDDX vs. ARANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Active Dividend Fund (HNDDX) and Horizon Active Risk Assist Fund (ARANX). 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.
| HNDDX | ARANX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.24 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 1.85 | +1.00 |
| Martin ratioReturn relative to average drawdown | 12.80 | 7.24 | +5.56 |
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Drawdowns
HNDDX vs. ARANX - Drawdown Comparison
The maximum HNDDX drawdown since its inception was -36.28%, which is greater than ARANX's maximum drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for HNDDX and ARANX.
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Drawdown Indicators
| HNDDX | ARANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.28% | -21.50% | -14.78% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -10.13% | +2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -16.69% | -15.34% | -1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -19.04% | -21.50% | +2.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.50% | — |
Current DrawdownCurrent decline from peak | -0.68% | -2.75% | +2.07% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -6.41% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 2.59% | -0.97% |
Volatility
HNDDX vs. ARANX - Volatility Comparison
The current volatility for Horizon Active Dividend Fund (HNDDX) is 2.98%, while Horizon Active Risk Assist Fund (ARANX) has a volatility of 4.31%. This indicates that HNDDX experiences smaller price fluctuations and is considered to be less risky than ARANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HNDDX | ARANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.98% | 4.31% | -1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.55% | 12.15% | -3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.86% | 14.31% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 13.02% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 12.68% | +3.12% |
HNDDX vs. ARANX - Expense Ratio Comparison
HNDDX has a 1.10% expense ratio, which is lower than ARANX's 1.17% expense ratio.
Dividends
HNDDX vs. ARANX - Dividend Comparison
HNDDX's dividend yield for the trailing twelve months is around 6.89%, less than ARANX's 8.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARANX Horizon Active Risk Assist Fund | 8.33% | 9.14% | 10.35% | 0.83% | 0.53% | 8.22% | 0.37% | 1.00% | 3.91% | 4.70% | 0.86% | 1.06% |
HNDDX Horizon Active Dividend Fund | 6.89% | 6.55% | 6.25% | 1.54% | 2.17% | 3.98% | 2.13% | 2.67% | 5.86% | 2.67% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, HNDDX and ARANX 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.
ARANX has higher volatility (4.31%) compared to HNDDX (2.98%). In terms of maximum drawdown, HNDDX dropped -36.28% vs ARANX's -21.50%.
HNDDX currently has the higher Sharpe Ratio (1.91 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.
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