QGRD vs. YNOT

Last updated Jun 23, 2026

QGRD (Horizon NASDAQ-100 Defined Risk ETF) and YNOT (Horizon Digital Frontier ETF) are both exchange-traded funds - QGRD is a Equity Hedged fund actively managed by Horizon, while YNOT is a Technology Equities fund actively managed by Horizon. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. QGRD charges 0.85%/yr vs 0.75%/yr for YNOT.

Performance

QGRD vs. YNOT - Performance Comparison

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

Returns By Period

In the year-to-date period, QGRD achieves a 14.58% return, which is significantly lower than YNOT's 17.69% return.

QGRD

• 1D: -0.24%
• 1M: 2.94%
• YTD: 14.58%
• 6M: 13.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

YNOT

• 1D: -0.84%
• 1M: 1.33%
• YTD: 17.69%
• 6M: 16.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QGRD vs. YNOT - Yearly Performance Comparison

	2026 (YTD)	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	14.58%	8.15%
YNOT Horizon Digital Frontier ETF	17.69%	12.46%

Correlation

The correlation between QGRD and YNOT 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 10, 2025	0.90

Return for Risk

QGRD vs. YNOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon NASDAQ-100 Defined Risk ETF (QGRD) and Horizon Digital Frontier ETF (YNOT). 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.

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

Drawdowns

QGRD vs. YNOT - Drawdown Comparison

The maximum QGRD drawdown since its inception was -9.41%, smaller than the maximum YNOT drawdown of -16.73%. Use the drawdown chart below to compare losses from any high point for QGRD and YNOT.

Drawdown Indicators

	QGRD	YNOT	Difference
Max Drawdown Largest peak-to-trough decline	-9.41%	-16.73%	+7.32%
Current Drawdown Current decline from peak	-0.57%	-5.06%	+4.49%
Average Drawdown Average peak-to-trough decline	-2.19%	-3.86%	+1.67%

Volatility

Volatility by Period

	QGRD	YNOT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.15%	24.19%	-10.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.15%	24.19%	-10.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.15%	24.19%	-10.04%

QGRD vs. YNOT - Expense Ratio Comparison

QGRD has a 0.85% expense ratio, which is higher than YNOT's 0.75% expense ratio.

Dividends

QGRD vs. YNOT - Dividend Comparison

QGRD's dividend yield for the trailing twelve months is around 1.37%, while YNOT has not paid dividends to shareholders.

Position	TTM	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.37%	1.57%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both QGRD and YNOT in my portfolio?

With a correlation of 0.90, QGRD and YNOT 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 YNOT?

On fees, YNOT is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QGRD or YNOT?

YNOT is cheaper with a 0.75% expense ratio, compared with 0.85% for QGRD.

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

QGRD has the higher dividend yield at 1.37%, compared with 0.00% for YNOT.

What is the main difference between QGRD and YNOT?

QGRD is categorized as Equity Hedged, while YNOT is Technology Equities. Their fees differ too: 0.85% for QGRD and 0.75% for YNOT.