SMOX vs. BNDY

Last updated Jul 17, 2026

SMOX (Horizon Small/Mid Cap Core Equity ETF) and BNDY (Horizon Core Bond ETF) are both exchange-traded funds - SMOX is a Mid Cap Blend Equities fund actively managed by Horizon, while BNDY is a Intermediate Core Bond fund actively managed by Horizon. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. SMOX charges 0.75%/yr vs 0.66%/yr for BNDY.

Performance

SMOX vs. BNDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Small/Mid Cap Core Equity ETF (SMOX) and Horizon Core Bond ETF (BNDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMOX achieves a 20.19% return, which is significantly higher than BNDY's 0.70% return.

SMOX

• 1D: 0.30%
• 1M: 0.63%
• 6M: 12.95%
• YTD: 20.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDY

• 1D: -0.22%
• 1M: -0.77%
• 6M: 0.18%
• YTD: 0.70%
• 1Y: 6.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMOX vs. BNDY - Yearly Performance Comparison

	2026 (YTD)	2025
SMOX Horizon Small/Mid Cap Core Equity ETF	20.19%	0.44%
BNDY Horizon Core Bond ETF	0.70%	0.46%

Correlation

The correlation between SMOX and BNDY is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	0.58

Return for Risk

SMOX vs. BNDY — Risk / Return Rank

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

SMOX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BNDY

BNDY Risk / Return Rank: 48
BNDY Sharpe Ratio Rank: 47
BNDY Sortino Ratio Rank: 48
BNDY Omega Ratio Rank: 48
BNDY Calmar Ratio Rank: 42
BNDY Martin Ratio Rank: 52

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.

SMOX vs. BNDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Small/Mid Cap Core Equity ETF (SMOX) and Horizon Core Bond ETF (BNDY). 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.

	SMOX	BNDY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.36	—
Sortino ratio: Return per unit of downside risk	—	1.98	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	1.75	—
Martin ratio: Return relative to average drawdown	—	7.13	—

Drawdowns

SMOX vs. BNDY - Drawdown Comparison

The maximum SMOX drawdown since its inception was -7.76%, which is greater than BNDY's maximum drawdown of -3.93%. Use the drawdown chart below to compare losses from any high point for SMOX and BNDY.

Drawdown Indicators

	SMOX	BNDY	Difference
Max Drawdown Largest peak-to-trough decline	-7.76%	-3.93%	-3.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.93%	—
Current Drawdown Current decline from peak	-1.47%	-1.32%	-0.15%
Average Drawdown Average peak-to-trough decline	-1.38%	-0.67%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.96%	—

Volatility

Volatility by Period

	SMOX	BNDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.16%	5.06%	+10.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.16%	5.10%	+10.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.16%	5.10%	+10.06%

SMOX vs. BNDY - Expense Ratio Comparison

SMOX has a 0.75% expense ratio, which is higher than BNDY's 0.66% expense ratio.

Dividends

SMOX vs. BNDY - Dividend Comparison

SMOX's dividend yield for the trailing twelve months is around 0.07%, less than BNDY's 5.88% yield.

Position	TTM	2025
BNDY Horizon Core Bond ETF	5.88%	1.89%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%

Frequently Asked Questions

Can I hold both SMOX and BNDY in my portfolio?

SMOX and BNDY have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMOX or BNDY?

On fees, BNDY is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMOX or BNDY?

BNDY is cheaper with a 0.66% expense ratio, compared with 0.75% for SMOX.

Which ETF pays a higher dividend yield, SMOX or BNDY?

BNDY has the higher dividend yield at 5.88%, compared with 0.07% for SMOX.

What is the main difference between SMOX and BNDY?

SMOX is categorized as Mid Cap Blend Equities, while BNDY is Intermediate Core Bond. Their fees differ too: 0.75% for SMOX and 0.66% for BNDY.