XTOC vs. DIVN

Last updated Aug 2, 2026

XTOC (Innovator U.S. Equity Accelerated Plus ETF - October) and DIVN (Horizon Dividend Income ETF) are both exchange-traded funds - XTOC is a Options Trading fund actively managed by Innovator, while DIVN is a Large Cap Value Equities fund actively managed by Horizon. Both are actively managed. Over the past year, XTOC returned 15.73% vs 22.54% for DIVN. Their 0.40 correlation means their historical movements had little consistent relationship. XTOC charges 0.79%/yr vs 0.70%/yr for DIVN.

Performance

XTOC vs. DIVN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Accelerated Plus ETF - October (XTOC) 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, XTOC achieves a 9.19% return, which is significantly lower than DIVN's 14.80% return.

XTOC

• 1D: 0.50%
• 1M: 1.08%
• 6M: 8.10%
• YTD: 9.19%
• 1Y: 15.73%
• 3Y*: 14.56%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.90%

DIVN

• 1D: 0.20%
• 1M: 1.14%
• 6M: 8.07%
• YTD: 14.80%
• 1Y: 22.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.81%

*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	$10.90M	$5.41M	$2.61M
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	$194.94K	$226.73K	$199.86K

XTOC vs. DIVN - Yearly Performance Comparison

	2026 (YTD)	2025
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	9.19%	8.00%
DIVN Horizon Dividend Income ETF	14.80%	8.11%

Correlation

The correlation between XTOC and DIVN is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.40

Return for Risk

XTOC vs. DIVN — Risk / Return Rank

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

XTOC

XTOC Risk / Return Rank: 70
XTOC Sharpe Ratio Rank: 68
XTOC Sortino Ratio Rank: 70
XTOC Omega Ratio Rank: 77
XTOC Calmar Ratio Rank: 56
XTOC Martin Ratio Rank: 80

DIVN

DIVN Risk / Return Rank: 88
DIVN Sharpe Ratio Rank: 89
DIVN Sortino Ratio Rank: 92
DIVN Omega Ratio Rank: 87
DIVN Calmar Ratio Rank: 91
DIVN Martin Ratio Rank: 84

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.

XTOC vs. DIVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Accelerated Plus ETF - October (XTOC) 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.

	XTOC	DIVN	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.19	-0.60
Sortino ratio: Return per unit of downside risk	2.30	3.36	-1.06
Omega ratio: Gain probability vs. loss probability	1.33	1.39	-0.06
Calmar ratio: Return relative to maximum drawdown	2.00	4.08	-2.08
Martin ratio: Return relative to average drawdown	10.63	11.49	-0.86

XTOC vs. DIVN - Sharpe Ratio Comparison

The current XTOC Sharpe Ratio is 1.59, which is comparable to the DIVN Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of XTOC 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

XTOC vs. DIVN - Drawdown Comparison

The maximum XTOC drawdown since its inception was -24.09%, which is greater than DIVN's maximum drawdown of -5.55%. Use the drawdown chart below to compare losses from any high point for XTOC and DIVN.

Drawdown Indicators

	XTOC	DIVN	Difference
Max Drawdown Largest peak-to-trough decline	-24.09%	-5.55%	-18.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.41%	-5.55%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.02%	—	—
Current Drawdown Current decline from peak	0.00%	-1.39%	+1.39%
Average Drawdown Average peak-to-trough decline	-4.72%	-1.35%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	1.97%	-0.58%

Volatility

XTOC vs. DIVN - Volatility Comparison

The current volatility for Innovator U.S. Equity Accelerated Plus ETF - October (XTOC) is 1.72%, while Horizon Dividend Income ETF (DIVN) has a volatility of 3.15%. This indicates that XTOC experiences smaller price fluctuations and is considered to be less risky than DIVN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTOC	DIVN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	3.15%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	7.54%	7.55%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.33%	10.52%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	10.53%	+4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	10.53%	+4.43%

XTOC vs. DIVN - Expense Ratio Comparison

XTOC has a 0.79% expense ratio, which is higher than DIVN's 0.70% expense ratio.

Dividends

XTOC vs. DIVN - Dividend Comparison

XTOC has not paid dividends to shareholders, while DIVN's dividend yield for the trailing twelve months is around 3.70%.

Position	TTM	2025
DIVN Horizon Dividend Income ETF	3.70%	1.47%
XTOC Innovator U.S. Equity Accelerated Plus ETF - October	0.00%	0.00%

Frequently Asked Questions

Can I hold both XTOC and DIVN in my portfolio?

XTOC and DIVN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTOC or DIVN?

DIVN has higher volatility (3.15%) compared to XTOC (1.72%). In terms of maximum drawdown, XTOC dropped -24.09% vs DIVN's -5.55%.

Which ETF is better, XTOC or DIVN?

On 1-year performance, DIVN leads with 22.54% vs 15.73% for XTOC. On fees, DIVN is cheaper at 0.70% per year. On volatility, XTOC has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTOC or DIVN?

Over the 1-year period, DIVN has performed better with a 22.54% return vs 15.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTOC or DIVN?

DIVN is cheaper with a 0.70% expense ratio, compared with 0.79% for XTOC.

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

DIVN has the higher dividend yield at 3.70%, compared with 0.00% for XTOC.

What is the main difference between XTOC and DIVN?

XTOC is categorized as Options Trading, while DIVN is Large Cap Value Equities. They also come from different issuers: Innovator and Horizon. Their fees differ too: 0.79% for XTOC and 0.70% for DIVN.

Which has better risk-adjusted returns?

DIVN currently has the higher Sharpe Ratio (2.19 vs 1.59), 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.