USRAX vs. SPY
Compare and contrast key facts about Horizon U.S. Defensive Equity Fund (USRAX) and SPDR S&P 500 ETF (SPY).
USRAX is managed by Horizon Investments. It was launched on Jun 26, 2019. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: USRAX or SPY.
Key characteristics
| USRAX | SPY | |
|---|---|---|
| YTD Return | 10.25% | 11.81% |
| 1Y Return | 24.50% | 31.01% |
| 3Y Return (Ann) | 8.04% | 9.97% |
| Sharpe Ratio | 2.23 | 2.61 |
| Daily Std Dev | 10.62% | 11.55% |
| Max Drawdown | -23.39% | -55.19% |
| Current Drawdown | -1.41% | 0.00% |
Correlation
The correlation between USRAX and SPY is 0.94, 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.
Performance
USRAX vs. SPY - Performance Comparison
In the year-to-date period, USRAX achieves a 10.25% return, which is significantly lower than SPY's 11.81% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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USRAX vs. SPY - Expense Ratio Comparison
USRAX has a 1.17% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
USRAX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon U.S. Defensive Equity Fund (USRAX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
USRAX vs. SPY - Dividend Comparison
USRAX's dividend yield for the trailing twelve months is around 2.53%, more than SPY's 1.27% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USRAX Horizon U.S. Defensive Equity Fund | 2.53% | 2.79% | 0.80% | 25.28% | 0.30% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.27% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
USRAX vs. SPY - Drawdown Comparison
The maximum USRAX drawdown since its inception was -23.39%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for USRAX and SPY. For additional features, visit the drawdowns tool.
Volatility
USRAX vs. SPY - Volatility Comparison
The current volatility for Horizon U.S. Defensive Equity Fund (USRAX) is 2.93%, while SPDR S&P 500 ETF (SPY) has a volatility of 3.48%. This indicates that USRAX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.