QGRD vs. BNDY

Last updated Jun 6, 2026

QGRD (Horizon NASDAQ-100 Defined Risk ETF) and BNDY (Horizon Core Bond ETF) are both exchange-traded funds - QGRD is a Equity Hedged fund actively managed by Horizon, while BNDY is a Intermediate Core Bond fund actively managed by Horizon. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. QGRD charges 0.85%/yr vs 0.66%/yr for BNDY.

Performance

QGRD vs. BNDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Horizon Core Bond ETF (BNDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QGRD achieves a 10.11% return, which is significantly higher than BNDY's 0.27% return.

QGRD

• 1D: -3.94%
• 1M: 1.47%
• YTD: 10.11%
• 6M: 7.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDY

• 1D: -0.91%
• 1M: -0.78%
• YTD: 0.27%
• 6M: 0.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QGRD vs. BNDY - Yearly Performance Comparison

	2026 (YTD)	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	10.11%	8.34%
BNDY Horizon Core Bond ETF	0.27%	5.25%

Correlation

The correlation between QGRD and BNDY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025	0.38

Return for Risk

QGRD vs. BNDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Horizon Core Bond ETF (BNDY). 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.

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

Sharpe Ratios by Period

	QGRD	BNDY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	1.20	+0.39

Drawdowns

QGRD vs. BNDY - Drawdown Comparison

The maximum QGRD drawdown since its inception was -9.41%, which is greater than BNDY's maximum drawdown of -3.93%. Use the drawdown chart below to compare losses from any high point for QGRD and BNDY.

Drawdown Indicators

	QGRD	BNDY	Difference
Max Drawdown Largest peak-to-trough decline	-9.41%	-3.93%	-5.48%
Current Drawdown Current decline from peak	-4.45%	-1.74%	-2.71%
Average Drawdown Average peak-to-trough decline	-2.19%	-0.63%	-1.56%

Volatility

Volatility by Period

	QGRD	BNDY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	5.09%	+8.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	5.09%	+8.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.56%	5.09%	+8.47%

QGRD vs. BNDY - Expense Ratio Comparison

QGRD has a 0.85% expense ratio, which is higher than BNDY's 0.66% expense ratio.

Dividends

QGRD vs. BNDY - Dividend Comparison

QGRD's dividend yield for the trailing twelve months is around 1.42%, less than BNDY's 4.86% yield.

Position	TTM	2025
BNDY Horizon Core Bond ETF	4.86%	1.89%
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.42%	1.57%

Frequently Asked Questions

Can I hold both QGRD and BNDY in my portfolio?

QGRD and BNDY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QGRD or BNDY?

On fees, BNDY is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QGRD or BNDY?

BNDY is cheaper with a 0.66% expense ratio, compared with 0.85% for QGRD.

Which ETF pays a higher dividend yield, QGRD or BNDY?

BNDY has the higher dividend yield at 4.86%, compared with 1.42% for QGRD.

What is the main difference between QGRD and BNDY?

QGRD is categorized as Equity Hedged, while BNDY is Intermediate Core Bond. Their fees differ too: 0.85% for QGRD and 0.66% for BNDY.