USRAX vs. MOAT
Compare and contrast key facts about Horizon U.S. Defensive Equity Fund (USRAX) and VanEck Vectors Morningstar Wide Moat ETF (MOAT).
USRAX is managed by Horizon Investments. It was launched on Jun 26, 2019. MOAT is a passively managed fund by VanEck that tracks the performance of the Morningstar Wide Moat Focus Index. It was launched on Apr 24, 2012.
Performance
USRAX vs. MOAT - Performance Comparison
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USRAX vs. MOAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
USRAX Horizon U.S. Defensive Equity Fund | -3.13% | 15.27% | 17.68% | 15.00% | -10.73% | 27.99% | 5.17% | 5.87% |
MOAT VanEck Vectors Morningstar Wide Moat ETF | -6.62% | 13.20% | 10.73% | 31.89% | -13.66% | 24.12% | 14.84% | 16.24% |
Returns By Period
In the year-to-date period, USRAX achieves a -3.13% return, which is significantly higher than MOAT's -6.62% return.
USRAX
- 1D
- -0.22%
- 1M
- -6.82%
- YTD
- -3.13%
- 6M
- -1.27%
- 1Y
- 12.60%
- 3Y*
- 14.22%
- 5Y*
- 9.80%
- 10Y*
- —
MOAT
- 1D
- 2.13%
- 1M
- -9.57%
- YTD
- -6.62%
- 6M
- -1.11%
- 1Y
- 11.38%
- 3Y*
- 10.72%
- 5Y*
- 7.98%
- 10Y*
- 13.48%
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USRAX vs. MOAT - Expense Ratio Comparison
USRAX has a 1.17% expense ratio, which is higher than MOAT's 0.48% expense ratio.
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 Vectors 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.
| USRAX | MOAT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.58 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.36 | 0.97 | +0.39 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.13 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.88 | +0.23 |
Martin ratioReturn relative to average drawdown | 5.85 | 3.37 | +2.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USRAX | MOAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.58 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.44 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.75 | -0.11 |
Correlation
The correlation between USRAX and MOAT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
USRAX vs. MOAT - Dividend Comparison
USRAX's dividend yield for the trailing twelve months is around 7.24%, more than MOAT's 1.45% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USRAX Horizon U.S. Defensive Equity Fund | 7.24% | 7.01% | 8.57% | 2.79% | 0.80% | 25.28% | 0.30% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% |
MOAT VanEck Vectors Morningstar Wide Moat ETF | 1.45% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
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 | -10.70% | -13.30% | +2.60% |
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 | -7.07% | -10.19% | +3.12% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -3.79% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 3.49% | -1.45% |
Volatility
USRAX vs. MOAT - Volatility Comparison
The current volatility for Horizon U.S. Defensive Equity Fund (USRAX) is 3.25%, while VanEck Vectors Morningstar Wide Moat ETF (MOAT) has a volatility of 4.81%. 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 | 3.25% | 4.81% | -1.56% |
Volatility (6M)Calculated over the trailing 6-month period | 7.60% | 10.12% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.37% | 19.76% | -4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.79% | 18.10% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 18.71% | -2.88% |