STOX vs. AFOS

Last updated Jun 20, 2026

STOX (Horizon Core Equity ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Their correlation of 0.83 suggests significant overlap in exposure. STOX charges 0.70%/yr vs 0.45%/yr for AFOS.

Performance

STOX vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Core Equity ETF (STOX) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STOX achieves a 9.22% return, which is significantly lower than AFOS's 35.81% return.

STOX

• 1D: 1.12%
• 1M: 1.04%
• YTD: 9.22%
• 6M: 9.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: 1.90%
• 1M: 9.60%
• YTD: 35.81%
• 6M: 36.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STOX vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
STOX Horizon Core Equity ETF	9.22%	13.00%
AFOS ARS Focused Opportunities Strategy ETF	35.81%	37.10%

Correlation

The correlation between STOX and AFOS is 0.83, 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 Jun 26, 2025	0.83

Return for Risk

STOX vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Equity ETF (STOX) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

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

Drawdowns

STOX vs. AFOS - Drawdown Comparison

The maximum STOX drawdown since its inception was -9.33%, smaller than the maximum AFOS drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for STOX and AFOS.

Drawdown Indicators

	STOX	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-9.33%	-11.52%	+2.19%
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-1.19%	-1.41%	+0.22%

Volatility

Volatility by Period

	STOX	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	21.21%	-8.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.80%	21.21%	-8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.80%	21.21%	-8.41%

STOX vs. AFOS - Expense Ratio Comparison

STOX has a 0.70% expense ratio, which is higher than AFOS's 0.45% expense ratio.

Dividends

STOX vs. AFOS - Dividend Comparison

STOX's dividend yield for the trailing twelve months is around 0.17%, less than AFOS's 0.22% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
STOX Horizon Core Equity ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both STOX and AFOS in my portfolio?

STOX and AFOS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, STOX or AFOS?

On fees, AFOS 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, STOX or AFOS?

AFOS is cheaper with a 0.45% expense ratio, compared with 0.70% for STOX.

Which ETF pays a higher dividend yield, STOX or AFOS?

AFOS has the higher dividend yield at 0.22%, compared with 0.17% for STOX.

What is the main difference between STOX and AFOS?

They also come from different issuers: Horizon and ARS Investment Partners. Their fees differ too: 0.70% for STOX and 0.45% for AFOS.