SFLR vs. DIVN

Last updated Aug 1, 2026

SFLR (Innovator Equity Managed Floor ETF) and DIVN (Horizon Dividend Income ETF) are both exchange-traded funds - SFLR is a Options Trading fund actively managed by Innovator, while DIVN is a Large Cap Value Equities fund actively managed by Horizon. Both are actively managed. Over the past year, SFLR returned 13.26% vs 22.54% for DIVN. Their 0.33 correlation means their historical movements had little consistent relationship. SFLR charges 0.89%/yr vs 0.70%/yr for DIVN.

Performance

SFLR vs. DIVN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Managed Floor ETF (SFLR) and Horizon Dividend Income ETF (DIVN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFLR achieves a 4.20% return, which is significantly lower than DIVN's 14.80% return.

SFLR

• 1D: 0.39%
• 1M: -0.65%
• 6M: 3.61%
• YTD: 4.20%
• 1Y: 13.26%
• 3Y*: 13.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.75%

DIVN

• 1D: 0.20%
• 1M: 1.14%
• 6M: 8.07%
• YTD: 14.80%
• 1Y: 22.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVN Horizon Dividend Income ETF	$10.90M	$5.41M	$2.61M
SFLR Innovator Equity Managed Floor ETF	$6.54M	$8.39M	$12.78M

SFLR vs. DIVN - Yearly Performance Comparison

	2026 (YTD)	2025
SFLR Innovator Equity Managed Floor ETF	4.20%	10.89%
DIVN Horizon Dividend Income ETF	14.80%	8.11%

Correlation

The correlation between SFLR and DIVN is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.33

Return for Risk

SFLR vs. DIVN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SFLR

SFLR Risk / Return Rank: 50
SFLR Sharpe Ratio Rank: 49
SFLR Sortino Ratio Rank: 45
SFLR Omega Ratio Rank: 50
SFLR Calmar Ratio Rank: 49
SFLR Martin Ratio Rank: 55

DIVN

DIVN Risk / Return Rank: 88
DIVN Sharpe Ratio Rank: 89
DIVN Sortino Ratio Rank: 92
DIVN Omega Ratio Rank: 87
DIVN Calmar Ratio Rank: 91
DIVN Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SFLR vs. DIVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Managed Floor ETF (SFLR) and Horizon Dividend Income ETF (DIVN). 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.

	SFLR	DIVN	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.19	-0.99
Sortino ratio: Return per unit of downside risk	1.65	3.36	-1.71
Omega ratio: Gain probability vs. loss probability	1.23	1.39	-0.16
Calmar ratio: Return relative to maximum drawdown	1.76	4.08	-2.32
Martin ratio: Return relative to average drawdown	6.53	11.49	-4.96

SFLR vs. DIVN - Sharpe Ratio Comparison

The current SFLR Sharpe Ratio is 1.20, which is lower than the DIVN Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of SFLR and DIVN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SFLR vs. DIVN - Drawdown Comparison

The maximum SFLR drawdown since its inception was -12.13%, which is greater than DIVN's maximum drawdown of -5.55%. Use the drawdown chart below to compare losses from any high point for SFLR and DIVN.

Drawdown Indicators

	SFLR	DIVN	Difference
Max Drawdown Largest peak-to-trough decline	-12.13%	-5.55%	-6.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.79%	-5.55%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-12.13%	—	—
Current Drawdown Current decline from peak	-1.89%	-1.39%	-0.50%
Average Drawdown Average peak-to-trough decline	-1.74%	-1.35%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.97%	-0.14%

Volatility

SFLR vs. DIVN - Volatility Comparison

The current volatility for Innovator Equity Managed Floor ETF (SFLR) is 2.50%, while Horizon Dividend Income ETF (DIVN) has a volatility of 3.15%. This indicates that SFLR experiences smaller price fluctuations and is considered to be less risky than DIVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFLR	DIVN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	3.15%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	7.55%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	9.93%	10.52%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.27%	10.53%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	10.53%	-0.26%

SFLR vs. DIVN - Expense Ratio Comparison

SFLR has a 0.89% expense ratio, which is higher than DIVN's 0.70% expense ratio.

Dividends

SFLR vs. DIVN - Dividend Comparison

SFLR's dividend yield for the trailing twelve months is around 0.28%, less than DIVN's 3.70% yield.

Position	TTM	2025	2024	2023	2022
DIVN Horizon Dividend Income ETF	3.70%	1.47%	0.00%	0.00%	0.00%
SFLR Innovator Equity Managed Floor ETF	0.28%	0.33%	0.42%	1.16%	0.06%

Frequently Asked Questions

Can I hold both SFLR and DIVN in my portfolio?

SFLR and DIVN have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFLR or DIVN?

DIVN has higher volatility (3.15%) compared to SFLR (2.50%). In terms of maximum drawdown, SFLR dropped -12.13% vs DIVN's -5.55%.

Which ETF is better, SFLR or DIVN?

On 1-year performance, DIVN leads with 22.54% vs 13.26% for SFLR. On fees, DIVN is cheaper at 0.70% per year. On volatility, SFLR has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFLR or DIVN?

Over the 1-year period, DIVN has performed better with a 22.54% return vs 13.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFLR or DIVN?

DIVN is cheaper with a 0.70% expense ratio, compared with 0.89% for SFLR.

Which ETF pays a higher dividend yield, SFLR or DIVN?

DIVN has the higher dividend yield at 3.70%, compared with 0.28% for SFLR.

What is the main difference between SFLR and DIVN?

SFLR is categorized as Options Trading, while DIVN is Large Cap Value Equities. They also come from different issuers: Innovator and Horizon. Their fees differ too: 0.89% for SFLR and 0.70% for DIVN.

Which has better risk-adjusted returns?

DIVN currently has the higher Sharpe Ratio (2.19 vs 1.20), 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.