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HNDRX vs. STTIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HNDRX vs. STTIX

Last updated Jun 24, 2026

HNDRX (Horizon Defined Risk Fund) and STTIX (North SquareTrilogy Alternative Return Fund) are both Options Trading funds. Over the past 5 years, HNDRX returned 8.44%/yr vs 0.21%/yr for STTIX. At a 0.30 correlation, their price movements are largely independent. HNDRX charges 1.04%/yr vs 1.38%/yr for STTIX.

Performance

HNDRX vs. STTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Defined Risk Fund (HNDRX) and North SquareTrilogy Alternative Return Fund (STTIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HNDRX achieves a 4.79% return, which is significantly higher than STTIX's -0.12% return.

HNDRX

1D
-0.08%
1M
0.55%
YTD
4.79%
6M
4.32%
1Y
12.38%
3Y*
12.65%
5Y*
8.44%
10Y*
—

STTIX

1D
-0.33%
1M
0.40%
YTD
-0.12%
6M
0.06%
1Y
3.25%
3Y*
3.68%
5Y*
0.21%
10Y*
1.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

HNDRX vs. STTIX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
HNDRX
Horizon Defined Risk Fund		4.79%10.78%15.41%14.97%-10.12%13.08%7.21%13.22%-1.67%
STTIX
North SquareTrilogy Alternative Return Fund		-0.12%6.66%5.94%-1.89%-10.52%4.57%7.19%3.44%-2.05%

Correlation

The correlation between HNDRX and STTIX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.23

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (All Time)
Calculated using the full available price history since Apr 16, 2018

0.30

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Horizon Defined Risk Fund

North SquareTrilogy Alternative Return Fund

Often compared with HNDRX:
HNDRX vs. HNDDXHNDRX vs. CIHEXHNDRX vs. USRAXHNDRX vs. SPYHNDRX vs. GCPYXHNDRX vs. HESGXHNDRX vs. HEQT
Often compared with STTIX:
STTIX vs. SDRIXSTTIX vs. HRSTXSTTIX vs. APLIXSTTIX vs. BUIGXSTTIX vs. GATEXSTTIX vs. GCPYXSTTIX vs. PPFIX

Return for Risk

HNDRX vs. STTIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HNDRX
HNDRX Risk / Return Rank: 6767
Overall Rank
HNDRX Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HNDRX Sortino Ratio Rank: 6161
Sortino Ratio Rank
HNDRX Omega Ratio Rank: 7171
Omega Ratio Rank
HNDRX Calmar Ratio Rank: 6262
Calmar Ratio Rank
HNDRX Martin Ratio Rank: 7777
Martin Ratio Rank
STTIX
STTIX Risk / Return Rank: 1414
Overall Rank
STTIX Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
STTIX Sortino Ratio Rank: 1515
Sortino Ratio Rank
STTIX Omega Ratio Rank: 1313
Omega Ratio Rank
STTIX Calmar Ratio Rank: 1414
Calmar Ratio Rank
STTIX Martin Ratio Rank: 1313
Martin Ratio Rank
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.

HNDRX vs. STTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Defined Risk Fund (HNDRX) and North SquareTrilogy Alternative Return Fund (STTIX). 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.

HNDRXSTTIXDifference
Sharpe ratioReturn per unit of total volatility
2.14
0.98

+1.16

Sortino ratioReturn per unit of downside risk
2.99
1.51

+1.49

Omega ratioGain probability vs. loss probability

1.43

1.17

+0.25

Calmar ratioReturn relative to maximum drawdown

2.88

1.22

+1.67

Martin ratioReturn relative to average drawdown

13.55

3.40

+10.15

HNDRX vs. STTIX - Sharpe Ratio Comparison

The current HNDRX Sharpe Ratio is 2.14, which is higher than the STTIX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of HNDRX and STTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

HNDRX vs. STTIX - Drawdown Comparison

The maximum HNDRX drawdown since its inception was -20.71%, which is greater than STTIX's maximum drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for HNDRX and STTIX.

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Drawdown Indicators

HNDRXSTTIXDifference

Max Drawdown

Largest peak-to-trough decline

-20.71%

-18.71%

-2.00%

Max Drawdown (1Y)

Largest decline over 1 year

-4.48%

-2.86%

-1.62%

Max Drawdown (3Y)

Largest decline over 3 years

-11.42%

-13.10%

+1.68%

Max Drawdown (5Y)

Largest decline over 5 years

-13.99%

-18.71%

+4.72%

Max Drawdown (10Y)

Largest decline over 10 years

—

-18.71%

—

Current Drawdown

Current decline from peak

-0.16%

-6.50%

+6.34%

Average Drawdown

Average peak-to-trough decline

-2.78%

-4.74%

+1.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

1.02%

-0.07%

Volatility

HNDRX vs. STTIX - Volatility Comparison

Horizon Defined Risk Fund (HNDRX) has a higher volatility of 1.48% compared to North SquareTrilogy Alternative Return Fund (STTIX) at 0.84%. This indicates that HNDRX's price experiences larger fluctuations and is considered to be riskier than STTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HNDRXSTTIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.48%

0.84%

+0.64%

Volatility (6M)

Calculated over the trailing 6-month period

4.71%

2.51%

+2.20%

Volatility (1Y)

Calculated over the trailing 1-year period

6.03%

3.56%

+2.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.33%

9.83%

-0.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.46%

7.81%

+2.65%

HNDRX vs. STTIX - Expense Ratio Comparison

HNDRX has a 1.04% expense ratio, which is lower than STTIX's 1.38% expense ratio.

Dividends

HNDRX vs. STTIX - Dividend Comparison

HNDRX's dividend yield for the trailing twelve months is around 0.20%, less than STTIX's 4.70% yield.

PositionTTM20252024202320222021202020192018201720162015
HNDRX
Horizon Defined Risk Fund		0.20%0.21%0.09%0.21%0.36%0.28%0.57%0.55%0.58%0.00%0.00%0.00%
STTIX
North SquareTrilogy Alternative Return Fund		4.70%4.26%17.39%2.10%1.03%0.49%1.02%1.68%1.73%0.96%0.99%1.07%

Frequently Asked Questions

HNDRX and STTIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HNDRX has higher volatility (1.48%) compared to STTIX (0.84%). In terms of maximum drawdown, HNDRX dropped -20.71% vs STTIX's -18.71%.

HNDRX currently has the higher Sharpe Ratio (2.14 vs 0.98), 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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