SFTY vs. HBTA

Last updated Jul 10, 2026

SFTY (Horizon Managed Risk ETF) and HBTA (Horizon Expedition Plus ETF) are both exchange-traded funds - SFTY is a Tactical Allocation fund managed by Horizon, while HBTA is a Derivative Income fund actively managed by Horizon. Over the past year, SFTY returned 20.95% vs 29.52% for HBTA. Their correlation of 0.95 suggests significant overlap in exposure. SFTY charges 0.77%/yr vs 0.85%/yr for HBTA.

Performance

SFTY vs. HBTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Managed Risk ETF (SFTY) 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, SFTY achieves a 9.88% return, which is significantly lower than HBTA's 13.62% return.

SFTY

• 1D: 0.52%
• 1M: 2.32%
• 6M: 8.80%
• YTD: 9.88%
• 1Y: 20.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBTA

• 1D: 1.87%
• 1M: 3.80%
• 6M: 12.41%
• YTD: 13.62%
• 1Y: 29.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFTY vs. HBTA - Yearly Performance Comparison

	2026 (YTD)	2025
SFTY Horizon Managed Risk ETF	9.88%	12.10%
HBTA Horizon Expedition Plus ETF	13.62%	17.93%

Correlation

The correlation between SFTY and HBTA is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.95

The correlation between SFTY and HBTA has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

SFTY vs. HBTA — Risk / Return Rank

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

SFTY

SFTY Risk / Return Rank: 67
SFTY Sharpe Ratio Rank: 68
SFTY Sortino Ratio Rank: 66
SFTY Omega Ratio Rank: 67
SFTY Calmar Ratio Rank: 61
SFTY Martin Ratio Rank: 74

HBTA

HBTA Risk / Return Rank: 61
HBTA Sharpe Ratio Rank: 61
HBTA Sortino Ratio Rank: 58
HBTA Omega Ratio Rank: 59
HBTA Calmar Ratio Rank: 57
HBTA Martin Ratio Rank: 69

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. HBTA - Risk-Adjusted Trends Comparison

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

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	HBTA	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.62	+0.14
Sortino ratio: Return per unit of downside risk	2.45	2.20	+0.24
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	2.44	2.25	+0.19
Martin ratio: Return relative to average drawdown	10.90	9.91	+0.99

SFTY vs. HBTA - Sharpe Ratio Comparison

The current SFTY Sharpe Ratio is 1.76, which is comparable to the HBTA Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of SFTY and HBTA, 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. HBTA - Drawdown Comparison

The maximum SFTY drawdown since its inception was -8.64%, smaller than the maximum HBTA drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for SFTY and HBTA.

Drawdown Indicators

	SFTY	HBTA	Difference
Max Drawdown Largest peak-to-trough decline	-8.64%	-26.73%	+18.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-13.18%	+4.54%
Current Drawdown Current decline from peak	-0.29%	-1.07%	+0.78%
Average Drawdown Average peak-to-trough decline	-1.13%	-4.13%	+3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.99%	-1.06%

Volatility

SFTY vs. HBTA - Volatility Comparison

The current volatility for Horizon Managed Risk ETF (SFTY) is 3.75%, while Horizon Expedition Plus ETF (HBTA) has a volatility of 6.87%. This indicates that SFTY experiences smaller price fluctuations and is considered to be less risky than HBTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFTY	HBTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	6.87%	-3.12%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	14.95%	-5.55%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	18.39%	-6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.91%	24.85%	-12.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.91%	24.85%	-12.94%

SFTY vs. HBTA - Expense Ratio Comparison

SFTY has a 0.77% expense ratio, which is lower than HBTA's 0.85% expense ratio.

Dividends

SFTY vs. HBTA - Dividend Comparison

SFTY's dividend yield for the trailing twelve months is around 0.17%, less than HBTA's 0.56% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.56%	0.64%
SFTY Horizon Managed Risk ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both SFTY and HBTA in my portfolio?

With a correlation of 0.95, SFTY and HBTA 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 is riskier, SFTY or HBTA?

HBTA has higher volatility (6.87%) compared to SFTY (3.75%). In terms of maximum drawdown, SFTY dropped -8.64% vs HBTA's -26.73%.

Which ETF is better, SFTY or HBTA?

On 1-year performance, HBTA leads with 29.52% vs 20.95% for SFTY. On fees, SFTY is cheaper at 0.77% per year. On volatility, SFTY has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFTY or HBTA?

Over the 1-year period, HBTA has performed better with a 29.52% return vs 20.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFTY or HBTA?

SFTY is cheaper with a 0.77% expense ratio, compared with 0.85% for HBTA.

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

HBTA has the higher dividend yield at 0.56%, compared with 0.17% for SFTY.

What is the main difference between SFTY and HBTA?

SFTY is categorized as Tactical Allocation, while HBTA is Derivative Income. Their fees differ too: 0.77% for SFTY and 0.85% for HBTA.

Which has better risk-adjusted returns?

SFTY currently has the higher Sharpe Ratio (1.76 vs 1.62), 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.