STOX vs. CVSE

Last updated Jun 5, 2026

STOX (Horizon Core Equity ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. At a 0.35 correlation, their price movements are largely independent. STOX charges 0.70%/yr vs 0.29%/yr for CVSE.

Performance

STOX vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Core Equity ETF (STOX) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

STOX

• 1D: 0.07%
• 1M: 4.32%
• YTD: 10.08%
• 6M: 10.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.08%
• 3Y*: 13.49%
• 5Y*: —
• 10Y*: —

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

STOX vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025
STOX Horizon Core Equity ETF	10.08%	12.56%
CVSE Calvert US Select Equity ETF	0.00%	5.65%

Correlation

The correlation between STOX and CVSE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.35

Return for Risk

STOX vs. CVSE — Risk / Return Rank

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

CVSE

CVSE Risk / Return Rank: 47
CVSE Sharpe Ratio Rank: 37
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 68
CVSE Calmar Ratio Rank: 55
CVSE Martin Ratio Rank: 37

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.

STOX vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Equity ETF (STOX) and Calvert US Select Equity ETF (CVSE). 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

	STOX	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	0.92	+1.16

Drawdowns

STOX vs. CVSE - Drawdown Comparison

The maximum STOX drawdown since its inception was -9.33%, smaller than the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for STOX and CVSE.

Drawdown Indicators

	STOX	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-9.33%	-20.29%	+10.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.08%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-0.12%	-1.68%	+1.56%
Average Drawdown Average peak-to-trough decline	-1.16%	-2.69%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.43%	—

Volatility

Volatility by Period

	STOX	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	6.42%	+5.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.37%	13.86%	-1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	13.86%	-1.49%

STOX vs. CVSE - Expense Ratio Comparison

STOX has a 0.70% expense ratio, which is higher than CVSE's 0.29% expense ratio.

Dividends

STOX vs. CVSE - Dividend Comparison

STOX's dividend yield for the trailing twelve months is around 0.17%, less than CVSE's 0.59% yield.

Position	TTM	2025	2024	2023
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%
STOX Horizon Core Equity ETF	0.17%	0.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both STOX and CVSE in my portfolio?

STOX and CVSE have a correlation of 0.35, 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 CVSE?

On fees, CVSE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STOX or CVSE?

CVSE is cheaper with a 0.29% expense ratio, compared with 0.70% for STOX.

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

CVSE has the higher dividend yield at 0.59%, compared with 0.17% for STOX.

What is the main difference between STOX and CVSE?

They also come from different issuers: Horizon and Calvert. Their fees differ too: 0.70% for STOX and 0.29% for CVSE.