QGRD vs. HBTA
QGRD (Horizon NASDAQ-100 Defined Risk ETF) and HBTA (Horizon Expedition Plus ETF) are both exchange-traded funds - QGRD is a Equity Hedged fund actively managed by Horizon, while HBTA is a Derivative Income fund actively managed by Horizon. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.
Performance
QGRD vs. HBTA - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with QGRD having a 10.11% return and HBTA slightly lower at 9.68%.
QGRD
- 1D
- -3.94%
- 1M
- 1.47%
- YTD
- 10.11%
- 6M
- 7.90%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HBTA
- 1D
- -3.93%
- 1M
- -0.15%
- YTD
- 9.68%
- 6M
- 9.50%
- 1Y
- 33.81%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QGRD vs. HBTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
QGRD Horizon NASDAQ-100 Defined Risk ETF | 10.11% | 8.34% |
HBTA Horizon Expedition Plus ETF | 9.68% | 13.71% |
Correlation
The correlation between QGRD and HBTA is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 11, 2025 | 0.92 |
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Return for Risk
QGRD vs. HBTA — Risk / Return Rank
QGRD
HBTA
QGRD vs. HBTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Horizon Expedition Plus ETF (HBTA). 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.
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Sharpe Ratios by Period
| QGRD | HBTA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.93 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.59 | 0.76 | +0.83 |
Drawdowns
QGRD vs. HBTA - Drawdown Comparison
The maximum QGRD drawdown since its inception was -9.41%, smaller than the maximum HBTA drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for QGRD and HBTA.
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Drawdown Indicators
| QGRD | HBTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.41% | -26.73% | +17.32% |
Max Drawdown (1Y)Largest decline over 1 year | — | -13.18% | — |
Current DrawdownCurrent decline from peak | -4.45% | -4.50% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -4.21% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.81% | — |
Volatility
QGRD vs. HBTA - Volatility Comparison
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Volatility by Period
| QGRD | HBTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.79% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 13.86% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.56% | 17.64% | -4.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.56% | 25.02% | -11.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.56% | 25.02% | -11.46% |
QGRD vs. HBTA - Expense Ratio Comparison
Both QGRD and HBTA have an expense ratio of 0.85%.
Dividends
QGRD vs. HBTA - Dividend Comparison
QGRD's dividend yield for the trailing twelve months is around 1.42%, more than HBTA's 0.58% yield.
| Position | TTM | 2025 |
|---|---|---|
HBTA Horizon Expedition Plus ETF | 0.58% | 0.64% |
QGRD Horizon NASDAQ-100 Defined Risk ETF | 1.42% | 1.57% |
Frequently Asked Questions
With a correlation of 0.92, QGRD and HBTA 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.
Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
QGRD and HBTA have the same expense ratio: 0.85% per year.
QGRD has the higher dividend yield at 1.42%, compared with 0.58% for HBTA.
QGRD is categorized as Equity Hedged, while HBTA is Derivative Income.
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