SNTH vs. QGRD

Last updated Jul 14, 2026

SNTH (MRP SynthEquity ETF) and QGRD (Horizon NASDAQ-100 Defined Risk ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, SNTH returned 19.99% vs 20.58% for QGRD. Their correlation of 0.87 suggests significant overlap in exposure. SNTH charges 0.95%/yr vs 0.85%/yr for QGRD.

Performance

SNTH vs. QGRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MRP SynthEquity ETF (SNTH) and Horizon NASDAQ-100 Defined Risk ETF (QGRD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNTH achieves a 8.55% return, which is significantly lower than QGRD's 11.09% return.

SNTH

• 1D: -0.80%
• 1M: 0.52%
• 6M: 6.70%
• YTD: 8.55%
• 1Y: 19.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QGRD

• 1D: -1.41%
• 1M: -1.04%
• 6M: 9.04%
• YTD: 11.09%
• 1Y: 20.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNTH vs. QGRD - Yearly Performance Comparison

	2026 (YTD)	2025
SNTH MRP SynthEquity ETF	8.55%	10.27%
QGRD Horizon NASDAQ-100 Defined Risk ETF	11.09%	8.15%

Correlation

The correlation between SNTH and QGRD is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.87

The correlation between SNTH and QGRD has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

SNTH vs. QGRD — Risk / Return Rank

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

SNTH

SNTH Risk / Return Rank: 55
SNTH Sharpe Ratio Rank: 56
SNTH Sortino Ratio Rank: 54
SNTH Omega Ratio Rank: 52
SNTH Calmar Ratio Rank: 56
SNTH Martin Ratio Rank: 54

QGRD

QGRD Risk / Return Rank: 51
QGRD Sharpe Ratio Rank: 51
QGRD Sortino Ratio Rank: 47
QGRD Omega Ratio Rank: 49
QGRD Calmar Ratio Rank: 55
QGRD Martin Ratio Rank: 50

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.

SNTH vs. QGRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MRP SynthEquity ETF (SNTH) and Horizon NASDAQ-100 Defined Risk ETF (QGRD). 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.

	SNTH	QGRD	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.41	+0.11
Sortino ratio: Return per unit of downside risk	2.11	1.92	+0.19
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.23	2.20	+0.04
Martin ratio: Return relative to average drawdown	7.33	6.67	+0.65

SNTH vs. QGRD - Sharpe Ratio Comparison

The current SNTH Sharpe Ratio is 1.52, which is comparable to the QGRD Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of SNTH and QGRD, 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

SNTH vs. QGRD - Drawdown Comparison

The maximum SNTH drawdown since its inception was -9.79%, roughly equal to the maximum QGRD drawdown of -9.41%. Use the drawdown chart below to compare losses from any high point for SNTH and QGRD.

Drawdown Indicators

	SNTH	QGRD	Difference
Max Drawdown Largest peak-to-trough decline	-9.79%	-9.41%	-0.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-9.41%	+0.42%
Current Drawdown Current decline from peak	-2.26%	-3.60%	+1.34%
Average Drawdown Average peak-to-trough decline	-2.00%	-2.23%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	3.09%	-0.35%

Volatility

SNTH vs. QGRD - Volatility Comparison

The current volatility for MRP SynthEquity ETF (SNTH) is 5.23%, while Horizon NASDAQ-100 Defined Risk ETF (QGRD) has a volatility of 6.71%. This indicates that SNTH experiences smaller price fluctuations and is considered to be less risky than QGRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNTH	QGRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.23%	6.71%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	11.61%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	14.66%	-1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	14.60%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	14.60%	+1.16%

SNTH vs. QGRD - Expense Ratio Comparison

SNTH has a 0.95% expense ratio, which is higher than QGRD's 0.85% expense ratio.

Dividends

SNTH vs. QGRD - Dividend Comparison

SNTH's dividend yield for the trailing twelve months is around 11.56%, more than QGRD's 1.41% yield.

Position	TTM	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.41%	1.57%
SNTH MRP SynthEquity ETF	11.56%	11.55%

Frequently Asked Questions

Can I hold both SNTH and QGRD in my portfolio?

SNTH and QGRD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNTH or QGRD?

QGRD has higher volatility (6.71%) compared to SNTH (5.23%). In terms of maximum drawdown, SNTH dropped -9.79% vs QGRD's -9.41%.

Which ETF is better, SNTH or QGRD?

On 1-year performance, QGRD leads with 20.58% vs 19.99% for SNTH. On fees, QGRD is cheaper at 0.85% per year. On volatility, SNTH has been the lower-risk option at 5.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNTH or QGRD?

Over the 1-year period, QGRD has performed better with a 20.58% return vs 19.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNTH or QGRD?

QGRD is cheaper with a 0.85% expense ratio, compared with 0.95% for SNTH.

Which ETF pays a higher dividend yield, SNTH or QGRD?

SNTH has the higher dividend yield at 11.56%, compared with 1.41% for QGRD.

What is the main difference between SNTH and QGRD?

They also come from different issuers: MRP and Horizon. Their fees differ too: 0.95% for SNTH and 0.85% for QGRD.

Which has better risk-adjusted returns?

SNTH currently has the higher Sharpe Ratio (1.52 vs 1.41), 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.