STOX vs. HBTA

Last updated Jun 4, 2026

STOX (Horizon Core Equity ETF) and HBTA (Horizon Expedition Plus ETF) are both exchange-traded funds - STOX is a Large Cap Blend Equities fund managed by Horizon, while HBTA is a Derivative Income fund actively managed by Horizon. With a 0.96 correlation, they move nearly in lockstep. STOX charges 0.70%/yr vs 0.85%/yr for HBTA.

Performance

STOX vs. HBTA - Performance Comparison

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

Returns By Period

In the year-to-date period, STOX achieves a 10.00% return, which is significantly lower than HBTA's 14.07% return.

STOX

• 1D: -0.18%
• 1M: 4.95%
• YTD: 10.00%
• 6M: 10.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HBTA

• 1D: -0.68%
• 1M: 7.20%
• YTD: 14.07%
• 6M: 14.43%
• 1Y: 38.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

STOX vs. HBTA - Yearly Performance Comparison

	2026 (YTD)	2025
STOX Horizon Core Equity ETF	10.00%	12.56%
HBTA Horizon Expedition Plus ETF	14.07%	16.33%

Correlation

The correlation between STOX and HBTA is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.96

Return for Risk

STOX vs. HBTA — Risk / Return Rank

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

HBTA

HBTA Risk / Return Rank: 67
HBTA Sharpe Ratio Rank: 70
HBTA Sortino Ratio Rank: 65
HBTA Omega Ratio Rank: 66
HBTA Calmar Ratio Rank: 60
HBTA Martin Ratio Rank: 74

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. HBTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Equity ETF (STOX) and Horizon Expedition Plus ETF (HBTA). 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	HBTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	0.91	+1.17

Drawdowns

STOX vs. HBTA - Drawdown Comparison

The maximum STOX drawdown since its inception was -9.33%, smaller than the maximum HBTA drawdown of -26.73%. Use the drawdown chart below to compare losses from any high point for STOX and HBTA.

Drawdown Indicators

	STOX	HBTA	Difference
Max Drawdown Largest peak-to-trough decline	-9.33%	-26.73%	+17.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.18%	—
Current Drawdown Current decline from peak	-0.18%	-0.68%	+0.50%
Average Drawdown Average peak-to-trough decline	-1.16%	-4.22%	+3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.80%	—

Volatility

Volatility by Period

	STOX	HBTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.46%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.39%	17.18%	-4.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.39%	24.85%	-12.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	24.85%	-12.46%

STOX vs. HBTA - Expense Ratio Comparison

STOX has a 0.70% expense ratio, which is lower than HBTA's 0.85% expense ratio.

Dividends

STOX vs. HBTA - Dividend Comparison

STOX's dividend yield for the trailing twelve months is around 0.17%, less than HBTA's 0.56% yield.

Position	TTM	2025
HBTA Horizon Expedition Plus ETF	0.56%	0.64%
STOX Horizon Core Equity ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both STOX and HBTA in my portfolio?

With a correlation of 0.96, STOX and HBTA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, STOX or HBTA?

On fees, STOX is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STOX or HBTA?

STOX is cheaper with a 0.70% expense ratio, compared with 0.85% for HBTA.

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

HBTA has the higher dividend yield at 0.56%, compared with 0.17% for STOX.

What is the main difference between STOX and HBTA?

STOX is categorized as Large Cap Blend Equities, while HBTA is Derivative Income. Their fees differ too: 0.70% for STOX and 0.85% for HBTA.