USRAX vs. MOAT
USRAX (Horizon U.S. Defensive Equity Fund) and MOAT (VanEck Morningstar Wide Moat ETF) are both Large Cap Blend Equities funds. Over the past 5 years, USRAX returned 10.58%/yr vs 8.70%/yr for MOAT. Their correlation of 0.80 means they have usually moved in the same direction. USRAX charges 1.17%/yr vs 0.47%/yr for MOAT.
Performance
USRAX vs. MOAT - Performance Comparison
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Returns By Period
In the year-to-date period, USRAX achieves a 9.15% return, which is significantly higher than MOAT's 4.36% return.
USRAX
- 1D
- 1.51%
- 1M
- 0.17%
- 6M
- 6.21%
- YTD
- 9.15%
- 1Y
- 16.78%
- 3Y*
- 15.28%
- 5Y*
- 10.58%
- 10Y*
- —
- ALL TIME*
- 11.52%
MOAT
- 1D
- 0.23%
- 1M
- 1.68%
- 6M
- 3.18%
- YTD
- 4.36%
- 1Y
- 14.29%
- 3Y*
- 10.60%
- 5Y*
- 8.70%
- 10Y*
- 13.65%
- ALL TIME*
- 13.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $65.74M | $67.48M | $82.03M | |
| $0.00 | $0.00 | $0.00 |
USRAX vs. MOAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
USRAX Horizon U.S. Defensive Equity Fund | 9.15% | 15.27% | 17.68% | 15.00% | -10.73% | 27.99% | 5.17% | 5.87% |
MOAT VanEck Morningstar Wide Moat ETF | 4.36% | 13.20% | 10.73% | 31.89% | -13.66% | 24.12% | 14.84% | 16.91% |
Correlation
The correlation between USRAX and MOAT is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2019 | 0.80 |
The correlation between USRAX and MOAT shifts across timeframes, from 0.62 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USRAX vs. MOAT — Risk / Return Rank
USRAX
MOAT
USRAX vs. MOAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon U.S. Defensive Equity Fund (USRAX) and VanEck Morningstar Wide Moat ETF (MOAT). 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.
| USRAX | MOAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.16 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 1.06 | +1.18 |
| Martin ratioReturn relative to average drawdown | 9.95 | 3.17 | +6.78 |
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Drawdowns
USRAX vs. MOAT - Drawdown Comparison
The maximum USRAX drawdown since its inception was -23.39%, smaller than the maximum MOAT drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for USRAX and MOAT.
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Drawdown Indicators
| USRAX | MOAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.39% | -33.31% | +9.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -12.43% | +5.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.66% | -21.44% | +5.78% |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | -23.96% | +4.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.31% | — |
Current DrawdownCurrent decline from peak | -0.81% | -0.06% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -4.23% | -3.82% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 4.16% | -2.57% |
Volatility
USRAX vs. MOAT - Volatility Comparison
The current volatility for Horizon U.S. Defensive Equity Fund (USRAX) is 2.89%, while VanEck Morningstar Wide Moat ETF (MOAT) has a volatility of 4.00%. This indicates that USRAX experiences smaller price fluctuations and is considered to be less risky than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USRAX | MOAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 4.00% | -1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 7.69% | 10.47% | -2.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.28% | 14.04% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.73% | 18.29% | -3.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 18.62% | -3.00% |
USRAX vs. MOAT - Expense Ratio Comparison
USRAX has a 1.17% expense ratio, which is higher than MOAT's 0.47% expense ratio.
Dividends
USRAX vs. MOAT - Dividend Comparison
USRAX's dividend yield for the trailing twelve months is around 6.42%, more than MOAT's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MOAT VanEck Morningstar Wide Moat ETF | 1.30% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
USRAX Horizon U.S. Defensive Equity Fund | 6.42% | 7.01% | 8.57% | 2.79% | 0.80% | 25.28% | 0.30% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USRAX and MOAT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MOAT has higher volatility (4.00%) compared to USRAX (2.89%). In terms of maximum drawdown, USRAX dropped -23.39% vs MOAT's -33.31%.
USRAX currently has the higher Sharpe Ratio (1.55 vs 0.95), 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.
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