SMOX vs. CTEF

Last updated Jun 25, 2026

SMOX (Horizon Small/Mid Cap Core Equity ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. SMOX charges 0.75%/yr vs 0.45%/yr for CTEF.

Performance

SMOX vs. CTEF - Performance Comparison

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

Returns By Period

In the year-to-date period, SMOX achieves a 19.91% return, which is significantly lower than CTEF's 36.84% return.

SMOX

• 1D: 0.19%
• 1M: 3.62%
• YTD: 19.91%
• 6M: 17.45%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: -0.06%
• 1M: 13.46%
• YTD: 36.84%
• 6M: 33.43%
• 1Y: 77.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMOX vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
SMOX Horizon Small/Mid Cap Core Equity ETF	19.91%	0.44%
CTEF Castellan Targeted Equity ETF	36.84%	1.43%

Correlation

The correlation between SMOX and CTEF 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 (All Time) Calculated using the full available price history since Dec 3, 2025	0.82

Return for Risk

SMOX vs. CTEF — 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.

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 94
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

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. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Small/Mid Cap Core Equity ETF (SMOX) and Castellan Targeted Equity ETF (CTEF). 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	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	—	3.46	—
Sortino ratio: Return per unit of downside risk	—	4.35	—
Omega ratio: Gain probability vs. loss probability	—	1.56	—
Calmar ratio: Return relative to maximum drawdown	—	5.21	—
Martin ratio: Return relative to average drawdown	—	24.08	—

Drawdowns

SMOX vs. CTEF - Drawdown Comparison

The maximum SMOX drawdown since its inception was -7.76%, smaller than the maximum CTEF drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for SMOX and CTEF.

Drawdown Indicators

	SMOX	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-7.76%	-15.00%	+7.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.00%	—
Current Drawdown Current decline from peak	-0.32%	-2.51%	+2.19%
Average Drawdown Average peak-to-trough decline	-1.38%	-1.75%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.24%	—

Volatility

Volatility by Period

	SMOX	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.45%	22.63%	-7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	22.51%	-7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	22.51%	-7.06%

SMOX vs. CTEF - Expense Ratio Comparison

SMOX has a 0.75% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

SMOX vs. CTEF - Dividend Comparison

SMOX's dividend yield for the trailing twelve months is around 0.07%, more than CTEF's 0.06% yield.

Position	TTM	2025
CTEF Castellan Targeted Equity ETF	0.06%	0.08%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%

Frequently Asked Questions

Can I hold both SMOX and CTEF in my portfolio?

SMOX and CTEF 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 ETF is better, SMOX or CTEF?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMOX or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.75% for SMOX.

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

SMOX has the higher dividend yield at 0.07%, compared with 0.06% for CTEF.

What is the main difference between SMOX and CTEF?

They also come from different issuers: Horizon and Castellan. Their fees differ too: 0.75% for SMOX and 0.45% for CTEF.