SFTX vs. FRGN

Last updated Aug 1, 2026

SFTX (Horizon International Managed Risk ETF) and FRGN (Horizon International Equity ETF) are both exchange-traded funds - SFTX is a Tactical Allocation fund actively managed by Horizon, while FRGN is a Foreign Large Cap Equities fund actively managed by Horizon. Both are actively managed. Their 0.97 correlation means they have historically moved very closely together. SFTX charges 0.82%/yr vs 0.75%/yr for FRGN.

Performance

SFTX vs. FRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon International Managed Risk ETF (SFTX) and Horizon International Equity ETF (FRGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFTX achieves a 18.25% return, which is significantly lower than FRGN's 20.36% return.

SFTX

• 1D: 0.26%
• 1M: -0.75%
• 6M: 9.90%
• YTD: 18.25%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FRGN

• 1D: 0.13%
• 1M: -0.46%
• 6M: 11.92%
• YTD: 20.36%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
FRGN Horizon International Equity ETF	$7.87M	$4.12M	$1.66M
SFTX Horizon International Managed Risk ETF	$25.91M	$12.85M	$7.82M

SFTX vs. FRGN - Yearly Performance Comparison

	2026 (YTD)	2025
SFTX Horizon International Managed Risk ETF	18.25%	1.61%
FRGN Horizon International Equity ETF	20.36%	1.47%

Correlation

The correlation between SFTX and FRGN is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.97

Return for Risk

SFTX vs. FRGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon International Managed Risk ETF (SFTX) and Horizon International Equity ETF (FRGN). 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

SFTX vs. FRGN - Drawdown Comparison

The maximum SFTX drawdown since its inception was -12.75%, roughly equal to the maximum FRGN drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for SFTX and FRGN.

Drawdown Indicators

	SFTX	FRGN	Difference
Max Drawdown Largest peak-to-trough decline	-12.75%	-12.40%	-0.35%
Current Drawdown Current decline from peak	-4.30%	-4.50%	+0.20%
Average Drawdown Average peak-to-trough decline	-2.96%	-2.69%	-0.27%

Volatility

Volatility by Period

	SFTX	FRGN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	22.48%	22.02%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.48%	22.02%	+0.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.48%	22.02%	+0.46%

SFTX vs. FRGN - Expense Ratio Comparison

SFTX has a 0.82% expense ratio, which is higher than FRGN's 0.75% expense ratio.

Dividends

SFTX vs. FRGN - Dividend Comparison

SFTX's dividend yield for the trailing twelve months is around 0.21%, which matches FRGN's 0.21% yield.

Position	TTM	2025
FRGN Horizon International Equity ETF	0.21%	0.25%
SFTX Horizon International Managed Risk ETF	0.21%	0.25%

Frequently Asked Questions

Can I hold both SFTX and FRGN in my portfolio?

With a correlation of 0.97, SFTX and FRGN 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, SFTX or FRGN?

On fees, FRGN 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, SFTX or FRGN?

FRGN is cheaper with a 0.75% expense ratio, compared with 0.82% for SFTX.

Which ETF pays a higher dividend yield, SFTX or FRGN?

SFTX and FRGN have nearly identical dividend yields, around 0.21%.

What is the main difference between SFTX and FRGN?

SFTX is categorized as Tactical Allocation, while FRGN is Foreign Large Cap Equities. Their fees differ too: 0.82% for SFTX and 0.75% for FRGN.