SFTY vs. ELM

Last updated Jul 14, 2026

SFTY (Horizon Managed Risk ETF) and ELM (Elm Market Navigator ETF) are both Tactical Allocation funds. Over the past year, SFTY returned 21.14% vs 15.57% for ELM. Their correlation of 0.82 suggests significant overlap in exposure. SFTY charges 0.77%/yr vs 0.24%/yr for ELM.

Performance

SFTY vs. ELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Managed Risk ETF (SFTY) and Elm Market Navigator ETF (ELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFTY achieves a 9.81% return, which is significantly higher than ELM's 6.86% return.

SFTY

• 1D: -0.71%
• 1M: 1.41%
• 6M: 7.64%
• YTD: 9.81%
• 1Y: 21.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELM

• 1D: -0.64%
• 1M: 0.06%
• 6M: 4.40%
• YTD: 6.86%
• 1Y: 15.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFTY vs. ELM - Yearly Performance Comparison

	2026 (YTD)	2025
SFTY Horizon Managed Risk ETF	9.81%	12.10%
ELM Elm Market Navigator ETF	6.86%	9.55%

Correlation

The correlation between SFTY and ELM is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.82

The correlation between SFTY and ELM has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

Return for Risk

SFTY vs. ELM — Risk / Return Rank

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

SFTY

SFTY Risk / Return Rank: 68
SFTY Sharpe Ratio Rank: 69
SFTY Sortino Ratio Rank: 67
SFTY Omega Ratio Rank: 68
SFTY Calmar Ratio Rank: 62
SFTY Martin Ratio Rank: 75

ELM

ELM Risk / Return Rank: 59
ELM Sharpe Ratio Rank: 60
ELM Sortino Ratio Rank: 59
ELM Omega Ratio Rank: 62
ELM Calmar Ratio Rank: 52
ELM Martin Ratio Rank: 60

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.

SFTY vs. ELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Managed Risk ETF (SFTY) and Elm Market Navigator ETF (ELM). 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.

	SFTY	ELM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.60	+0.17
Sortino ratio: Return per unit of downside risk	2.46	2.24	+0.22
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.46	2.08	+0.38
Martin ratio: Return relative to average drawdown	10.99	8.41	+2.59

SFTY vs. ELM - Sharpe Ratio Comparison

The current SFTY Sharpe Ratio is 1.77, which is comparable to the ELM Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SFTY and ELM, 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

SFTY vs. ELM - Drawdown Comparison

The maximum SFTY drawdown since its inception was -8.64%, roughly equal to the maximum ELM drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for SFTY and ELM.

Drawdown Indicators

	SFTY	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-9.02%	+0.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-7.52%	-1.12%
Current Drawdown Current decline from peak	-0.71%	-1.23%	+0.52%
Average Drawdown Average peak-to-trough decline	-1.13%	-1.31%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	1.86%	+0.07%

Volatility

SFTY vs. ELM - Volatility Comparison

Horizon Managed Risk ETF (SFTY) has a higher volatility of 3.58% compared to Elm Market Navigator ETF (ELM) at 3.02%. This indicates that SFTY's price experiences larger fluctuations and is considered to be riskier than ELM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFTY	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.02%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	8.19%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.03%	9.82%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.90%	10.37%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.90%	10.37%	+1.53%

SFTY vs. ELM - Expense Ratio Comparison

SFTY has a 0.77% expense ratio, which is higher than ELM's 0.24% expense ratio.

Dividends

SFTY vs. ELM - Dividend Comparison

SFTY's dividend yield for the trailing twelve months is around 0.17%, less than ELM's 2.54% yield.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.54%	2.71%
SFTY Horizon Managed Risk ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both SFTY and ELM in my portfolio?

SFTY and ELM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFTY or ELM?

SFTY has higher volatility (3.58%) compared to ELM (3.02%). In terms of maximum drawdown, SFTY dropped -8.64% vs ELM's -9.02%.

Which ETF is better, SFTY or ELM?

On 1-year performance, SFTY leads with 21.14% vs 15.57% for ELM. On fees, ELM is cheaper at 0.24% per year. On volatility, ELM has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFTY or ELM?

Over the 1-year period, SFTY has performed better with a 21.14% return vs 15.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFTY or ELM?

ELM is cheaper with a 0.24% expense ratio, compared with 0.77% for SFTY.

Which ETF pays a higher dividend yield, SFTY or ELM?

ELM has the higher dividend yield at 2.54%, compared with 0.17% for SFTY.

What is the main difference between SFTY and ELM?

They also come from different issuers: Horizon and Elm. Their fees differ too: 0.77% for SFTY and 0.24% for ELM.

Which has better risk-adjusted returns?

SFTY currently has the higher Sharpe Ratio (1.77 vs 1.59), 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.