QGRD vs. XTR

Last updated Jun 6, 2026

QGRD (Horizon NASDAQ-100 Defined Risk ETF) and XTR (Global X S&P 500 Tail Risk ETF) are both Equity Hedged funds. QGRD is actively managed, while XTR is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. QGRD charges 0.85%/yr vs 0.25%/yr for XTR.

Performance

QGRD vs. XTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Global X S&P 500 Tail Risk ETF (XTR). 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 XTR's 6.37% return.

QGRD

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

XTR

• 1D: -2.51%
• 1M: 0.50%
• YTD: 6.37%
• 6M: 5.98%
• 1Y: 20.97%
• 3Y*: 17.70%
• 5Y*: —
• 10Y*: —

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

QGRD vs. XTR - Yearly Performance Comparison

	2026 (YTD)	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	10.11%	8.34%
XTR Global X S&P 500 Tail Risk ETF	6.37%	8.27%

Correlation

The correlation between QGRD and XTR is 0.90, 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	0.90

Return for Risk

QGRD vs. XTR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XTR

XTR Risk / Return Rank: 57
XTR Sharpe Ratio Rank: 59
XTR Sortino Ratio Rank: 58
XTR Omega Ratio Rank: 57
XTR Calmar Ratio Rank: 52
XTR Martin Ratio Rank: 61

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.

QGRD vs. XTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Global X S&P 500 Tail Risk ETF (XTR). 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	XTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.59	0.68	+0.91

Drawdowns

QGRD vs. XTR - Drawdown Comparison

The maximum QGRD drawdown since its inception was -9.41%, smaller than the maximum XTR drawdown of -20.83%. Use the drawdown chart below to compare losses from any high point for QGRD and XTR.

Drawdown Indicators

	QGRD	XTR	Difference
Max Drawdown Largest peak-to-trough decline	-9.41%	-20.83%	+11.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.35%	—
Current Drawdown Current decline from peak	-4.45%	-2.74%	-1.71%
Average Drawdown Average peak-to-trough decline	-2.19%	-5.94%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.00%	—

Volatility

Volatility by Period

	QGRD	XTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.77%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.56%	11.06%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	13.82%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.56%	13.82%	-0.26%

QGRD vs. XTR - Expense Ratio Comparison

QGRD has a 0.85% expense ratio, which is higher than XTR's 0.25% expense ratio.

Dividends

QGRD vs. XTR - Dividend Comparison

QGRD's dividend yield for the trailing twelve months is around 1.42%, less than XTR's 16.75% yield.

Position	TTM	2025	2024	2023	2022	2021
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.42%	1.57%	0.00%	0.00%	0.00%	0.00%
XTR Global X S&P 500 Tail Risk ETF	16.75%	17.82%	20.89%	1.09%	1.08%	2.32%

Frequently Asked Questions

Can I hold both QGRD and XTR in my portfolio?

With a correlation of 0.90, QGRD and XTR 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.

Which ETF is better, QGRD or XTR?

On fees, XTR is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QGRD or XTR?

XTR is cheaper with a 0.25% expense ratio, compared with 0.85% for QGRD.

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

XTR has the higher dividend yield at 16.75%, compared with 1.42% for QGRD.

What is the main difference between QGRD and XTR?

They also come from different issuers: Horizon and Global X. Their fees differ too: 0.85% for QGRD and 0.25% for XTR.