XTR vs. QGRD

Last updated Jun 25, 2026

XTR (Global X S&P 500 Tail Risk ETF) and QGRD (Horizon NASDAQ-100 Defined Risk ETF) are both Equity Hedged funds. XTR is passively managed, while QGRD is actively managed. Their correlation of 0.90 suggests significant overlap in exposure. XTR charges 0.25%/yr vs 0.85%/yr for QGRD.

Performance

XTR vs. QGRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Tail Risk ETF (XTR) and Horizon NASDAQ-100 Defined Risk ETF (QGRD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTR achieves a 5.85% return, which is significantly lower than QGRD's 10.89% return.

XTR

• 1D: -0.42%
• 1M: -1.44%
• YTD: 5.85%
• 6M: 4.51%
• 1Y: 17.69%
• 3Y*: 16.87%
• 5Y*: —
• 10Y*: —

QGRD

• 1D: -0.62%
• 1M: -0.38%
• YTD: 10.89%
• 6M: 9.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XTR vs. QGRD - Yearly Performance Comparison

	2026 (YTD)	2025
XTR Global X S&P 500 Tail Risk ETF	5.85%	8.53%
QGRD Horizon NASDAQ-100 Defined Risk ETF	10.89%	8.15%

Correlation

The correlation between XTR and QGRD is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.90

Return for Risk

XTR vs. QGRD — Risk / Return Rank

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

XTR

XTR Risk / Return Rank: 50
XTR Sharpe Ratio Rank: 51
XTR Sortino Ratio Rank: 49
XTR Omega Ratio Rank: 48
XTR Calmar Ratio Rank: 47
XTR Martin Ratio Rank: 55

QGRD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XTR vs. QGRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Tail Risk ETF (XTR) and Horizon NASDAQ-100 Defined Risk ETF (QGRD). 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.

	XTR	QGRD	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.18	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.09	—	—
Martin ratio: Return relative to average drawdown	8.57	—	—

Drawdowns

XTR vs. QGRD - Drawdown Comparison

The maximum XTR drawdown since its inception was -20.83%, which is greater than QGRD's maximum drawdown of -9.41%. Use the drawdown chart below to compare losses from any high point for XTR and QGRD.

Drawdown Indicators

	XTR	QGRD	Difference
Max Drawdown Largest peak-to-trough decline	-20.83%	-9.41%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.35%	—	—
Current Drawdown Current decline from peak	-3.22%	-3.77%	+0.55%
Average Drawdown Average peak-to-trough decline	-5.90%	-2.20%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	—	—

Volatility

Volatility by Period

	XTR	QGRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	14.38%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.85%	14.38%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.85%	14.38%	-0.53%

XTR vs. QGRD - Expense Ratio Comparison

XTR has a 0.25% expense ratio, which is lower than QGRD's 0.85% expense ratio.

Dividends

XTR vs. QGRD - Dividend Comparison

XTR's dividend yield for the trailing twelve months is around 16.84%, more than QGRD's 1.41% yield.

Position	TTM	2025	2024	2023	2022	2021
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.41%	1.57%	0.00%	0.00%	0.00%	0.00%
XTR Global X S&P 500 Tail Risk ETF	16.84%	17.82%	20.89%	1.09%	1.08%	2.32%

Frequently Asked Questions

Can I hold both XTR and QGRD in my portfolio?

With a correlation of 0.90, XTR and QGRD 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, XTR or QGRD?

On fees, XTR is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XTR or QGRD?

XTR is cheaper with a 0.25% expense ratio, compared with 0.85% for QGRD.

Which ETF pays a higher dividend yield, XTR or QGRD?

XTR has the higher dividend yield at 16.84%, compared with 1.41% for QGRD.

What is the main difference between XTR and QGRD?

They also come from different issuers: Global X and Horizon. Their fees differ too: 0.25% for XTR and 0.85% for QGRD.