STOX vs. DIVN

Last updated Jul 30, 2026

STOX (Horizon Core Equity ETF) and DIVN (Horizon Dividend Income ETF) are both exchange-traded funds - STOX is a Large Cap Blend Equities fund actively managed by Horizon, while DIVN is a Large Cap Value Equities fund actively managed by Horizon. Both are actively managed. Over the past year, STOX returned 16.52% vs 20.30% for DIVN. Their 0.37 correlation means their historical movements had little consistent relationship. Both charge a 0.70% expense ratio.

Performance

STOX vs. DIVN - Performance Comparison

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

Returns By Period

In the year-to-date period, STOX achieves a 7.16% return, which is significantly lower than DIVN's 15.64% return.

STOX

• 1D: -1.73%
• 1M: -0.93%
• 6M: 4.73%
• YTD: 7.16%
• 1Y: 16.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.20%

DIVN

• 1D: -0.67%
• 1M: 2.14%
• 6M: 9.85%
• YTD: 15.64%
• 1Y: 20.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVN Horizon Dividend Income ETF	$1.01M	$715.92K	$1.04M
STOX Horizon Core Equity ETF	$946.32K	$929.80K	$865.59K

STOX vs. DIVN - Yearly Performance Comparison

	2026 (YTD)	2025
STOX Horizon Core Equity ETF	7.16%	13.00%
DIVN Horizon Dividend Income ETF	15.64%	8.11%

Correlation

The correlation between STOX and DIVN is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.37

Return for Risk

STOX vs. DIVN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

STOX

STOX Risk / Return Rank: 58
STOX Sharpe Ratio Rank: 57
STOX Sortino Ratio Rank: 55
STOX Omega Ratio Rank: 55
STOX Calmar Ratio Rank: 53
STOX Martin Ratio Rank: 69

DIVN

DIVN Risk / Return Rank: 86
DIVN Sharpe Ratio Rank: 85
DIVN Sortino Ratio Rank: 89
DIVN Omega Ratio Rank: 84
DIVN Calmar Ratio Rank: 90
DIVN Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

STOX vs. DIVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Equity ETF (STOX) and Horizon Dividend Income ETF (DIVN). 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.

	STOX	DIVN	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.94	-0.66
Sortino ratio: Return per unit of downside risk	1.83	2.95	-1.12
Omega ratio: Gain probability vs. loss probability	1.23	1.34	-0.11
Calmar ratio: Return relative to maximum drawdown	1.78	3.67	-1.89
Martin ratio: Return relative to average drawdown	7.94	10.27	-2.33

STOX vs. DIVN - Sharpe Ratio Comparison

The current STOX Sharpe Ratio is 1.28, which is lower than the DIVN Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of STOX and DIVN, 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

STOX vs. DIVN - Drawdown Comparison

The maximum STOX drawdown since its inception was -9.33%, which is greater than DIVN's maximum drawdown of -5.55%. Use the drawdown chart below to compare losses from any high point for STOX and DIVN.

Drawdown Indicators

	STOX	DIVN	Difference
Max Drawdown Largest peak-to-trough decline	-9.33%	-5.55%	-3.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-5.55%	-3.78%
Current Drawdown Current decline from peak	-3.22%	-0.67%	-2.55%
Average Drawdown Average peak-to-trough decline	-1.21%	-1.35%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	2.00%	+0.09%

Volatility

STOX vs. DIVN - Volatility Comparison

Horizon Core Equity ETF (STOX) has a higher volatility of 3.33% compared to Horizon Dividend Income ETF (DIVN) at 3.05%. This indicates that STOX's price experiences larger fluctuations and is considered to be riskier than DIVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STOX	DIVN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	3.05%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	7.48%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	12.99%	10.50%	+2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	10.52%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.67%	10.52%	+2.15%

STOX vs. DIVN - Expense Ratio Comparison

Both STOX and DIVN have an expense ratio of 0.70%.

Dividends

STOX vs. DIVN - Dividend Comparison

STOX's dividend yield for the trailing twelve months is around 0.18%, less than DIVN's 3.67% yield.

Position	TTM	2025
DIVN Horizon Dividend Income ETF	3.67%	1.47%
STOX Horizon Core Equity ETF	0.18%	0.19%

Frequently Asked Questions

Can I hold both STOX and DIVN in my portfolio?

STOX and DIVN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STOX or DIVN?

STOX has higher volatility (3.33%) compared to DIVN (3.05%). In terms of maximum drawdown, STOX dropped -9.33% vs DIVN's -5.55%.

Which ETF is better, STOX or DIVN?

On 1-year performance, DIVN leads with 20.30% vs 16.52% for STOX. Both ETFs have the same 0.70% expense ratio. On volatility, DIVN has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, STOX or DIVN?

Over the 1-year period, DIVN has performed better with a 20.30% return vs 16.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, STOX or DIVN?

STOX and DIVN have the same expense ratio: 0.70% per year.

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

DIVN has the higher dividend yield at 3.67%, compared with 0.18% for STOX.

What is the main difference between STOX and DIVN?

STOX is categorized as Large Cap Blend Equities, while DIVN is Large Cap Value Equities.

Which has better risk-adjusted returns?

DIVN currently has the higher Sharpe Ratio (1.94 vs 1.28), 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.