SFTX vs. HBTA

Last updated Jun 4, 2026

SFTX (Horizon International Managed Risk ETF) and HBTA (Horizon Expedition Plus ETF) are both exchange-traded funds - SFTX is a Tactical Allocation fund actively managed by Horizon, while HBTA is a Derivative Income fund actively managed by Horizon. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. SFTX charges 0.82%/yr vs 0.85%/yr for HBTA.

Performance

SFTX vs. HBTA - Performance Comparison

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

Returns By Period

In the year-to-date period, SFTX achieves a 22.26% return, which is significantly higher than HBTA's 14.07% return.

SFTX

• 1D: -0.29%
• 1M: 7.93%
• YTD: 22.26%
• 6M: 24.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBTA

• 1D: -0.68%
• 1M: 7.20%
• YTD: 14.07%
• 6M: 14.43%
• 1Y: 38.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFTX vs. HBTA - Yearly Performance Comparison

	2026 (YTD)	2025
SFTX Horizon International Managed Risk ETF	22.26%	1.61%
HBTA Horizon Expedition Plus ETF	14.07%	0.32%

Correlation

The correlation between SFTX and HBTA is 0.80, 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 Dec 4, 2025	0.80

Return for Risk

SFTX vs. HBTA — Risk / Return Rank

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

HBTA

HBTA Risk / Return Rank: 67
HBTA Sharpe Ratio Rank: 70
HBTA Sortino Ratio Rank: 65
HBTA Omega Ratio Rank: 66
HBTA Calmar Ratio Rank: 60
HBTA Martin Ratio Rank: 74

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.

SFTX vs. HBTA - Risk-Adjusted Trends Comparison

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

Sharpe Ratios by Period

	SFTX	HBTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.57	0.91	+1.66

Drawdowns

SFTX vs. HBTA - Drawdown Comparison

The maximum SFTX drawdown since its inception was -12.75%, smaller than the maximum HBTA drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for SFTX and HBTA.

Drawdown Indicators

	SFTX	HBTA	Difference
Max Drawdown Largest peak-to-trough decline	-12.75%	-26.73%	+13.98%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.18%	—
Current Drawdown Current decline from peak	-0.29%	-0.68%	+0.39%
Average Drawdown Average peak-to-trough decline	-2.78%	-4.22%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.80%	—

Volatility

Volatility by Period

	SFTX	HBTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.65%	17.18%	+4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	24.85%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	24.85%	-3.20%

SFTX vs. HBTA - Expense Ratio Comparison

SFTX has a 0.82% expense ratio, which is lower than HBTA's 0.85% expense ratio.

Dividends

SFTX vs. HBTA - Dividend Comparison

SFTX's dividend yield for the trailing twelve months is around 0.20%, less than HBTA's 0.56% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.56%	0.64%
SFTX Horizon International Managed Risk ETF	0.20%	0.25%

Frequently Asked Questions

Can I hold both SFTX and HBTA in my portfolio?

SFTX and HBTA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SFTX or HBTA?

On fees, SFTX is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SFTX or HBTA?

SFTX is cheaper with a 0.82% expense ratio, compared with 0.85% for HBTA.

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

HBTA has the higher dividend yield at 0.56%, compared with 0.20% for SFTX.

What is the main difference between SFTX and HBTA?

SFTX is categorized as Tactical Allocation, while HBTA is Derivative Income. Their fees differ too: 0.82% for SFTX and 0.85% for HBTA.