SMOX vs. OPTZ

Last updated Jun 4, 2026

SMOX (Horizon Small/Mid Cap Core Equity ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds. SMOX is actively managed, while OPTZ is passively managed. Their correlation of 0.85 suggests significant overlap in exposure. SMOX charges 0.75%/yr vs 0.25%/yr for OPTZ.

Performance

SMOX vs. OPTZ - Performance Comparison

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

Returns By Period

In the year-to-date period, SMOX achieves a 17.11% return, which is significantly lower than OPTZ's 31.51% return.

SMOX

• 1D: 0.05%
• 1M: 2.23%
• YTD: 17.11%
• 6M: 17.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OPTZ

• 1D: 0.36%
• 1M: 12.33%
• YTD: 31.51%
• 6M: 32.28%
• 1Y: 61.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMOX vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025
SMOX Horizon Small/Mid Cap Core Equity ETF	17.11%	0.44%
OPTZ Optimize Strategy Index ETF	31.51%	0.59%

Correlation

The correlation between SMOX and OPTZ is 0.85, 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	0.85

SMOX vs. OPTZ - Sectors Allocation Comparison

Sectors	SMOX	OPTZ
Industrials	22.1%	8.9%
Financial Services	15.3%	9.1%
Technology	14.4%	50.6%
Consumer Cyclical	11.4%	9.5%
Healthcare	8.8%	10.5%
Energy	8.0%	1.5%
Real Estate	7.6%	1.5%
Consumer Defensive	4.9%	4.0%
Basic Materials	4.0%	1.3%
Utilities	1.9%	0.7%
Communication Services	1.6%	2.6%

Return for Risk

SMOX vs. OPTZ — Risk / Return Rank

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

OPTZ

OPTZ Risk / Return Rank: 92
OPTZ Sharpe Ratio Rank: 93
OPTZ Sortino Ratio Rank: 92
OPTZ Omega Ratio Rank: 89
OPTZ Calmar Ratio Rank: 91
OPTZ 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. OPTZ - Risk-Adjusted Trends Comparison

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

	SMOX	OPTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.52	1.71	+0.81

Drawdowns

SMOX vs. OPTZ - Drawdown Comparison

The maximum SMOX drawdown since its inception was -7.76%, smaller than the maximum OPTZ drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for SMOX and OPTZ.

Drawdown Indicators

	SMOX	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-7.76%	-25.75%	+17.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.63%	—
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-1.49%	-3.39%	+1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.33%	—

Volatility

Volatility by Period

	SMOX	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.55%	18.09%	-2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.55%	20.66%	-5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	20.66%	-5.11%

SMOX vs. OPTZ - Expense Ratio Comparison

SMOX has a 0.75% expense ratio, which is higher than OPTZ's 0.25% expense ratio.

Dividends

SMOX vs. OPTZ - Dividend Comparison

SMOX's dividend yield for the trailing twelve months is around 0.07%, less than OPTZ's 0.44% yield.

Position	TTM	2025	2024
OPTZ Optimize Strategy Index ETF	0.44%	0.58%	0.32%
SMOX Horizon Small/Mid Cap Core Equity ETF	0.07%	0.08%	0.00%

Frequently Asked Questions

Can I hold both SMOX and OPTZ in my portfolio?

SMOX and OPTZ have a correlation of 0.85, 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 OPTZ?

On fees, OPTZ is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SMOX or OPTZ?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.75% for SMOX.

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

OPTZ has the higher dividend yield at 0.44%, compared with 0.07% for SMOX.

What is the main difference between SMOX and OPTZ?

They also come from different issuers: Horizon and Optimize. Their fees differ too: 0.75% for SMOX and 0.25% for OPTZ.