YNOT vs. FRGN

Last updated Jul 15, 2026

YNOT (Horizon Digital Frontier ETF) and FRGN (Horizon International Equity ETF) are both exchange-traded funds - YNOT is a Technology Equities fund actively managed by Horizon, while FRGN is a Foreign Large Cap Equities fund actively managed by Horizon. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

YNOT vs. FRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) and Horizon International Equity ETF (FRGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YNOT achieves a 13.83% return, which is significantly lower than FRGN's 21.20% return.

YNOT

• 1D: 1.56%
• 1M: -0.72%
• 6M: 7.83%
• YTD: 13.83%
• 1Y: 26.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FRGN

• 1D: 1.26%
• 1M: -1.66%
• 6M: 15.29%
• YTD: 21.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YNOT vs. FRGN - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	13.83%	-1.23%
FRGN Horizon International Equity ETF	21.20%	1.47%

Correlation

The correlation between YNOT and FRGN is 0.84, 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 Dec 3, 2025	0.84

YNOT vs. FRGN - Sectors Allocation Comparison

Sectors	YNOT	FRGN
Technology	48.5%	23.2%
Industrials	15.8%	13.7%
Communication Services	14.8%	4.9%
Consumer Cyclical	8.3%	7.2%
Basic Materials	8.3%	10.3%
Financial Services	1.8%	18.0%
Utilities	1.2%	1.2%
Healthcare	0.7%	7.7%
Energy	0.6%	8.7%
Consumer Defensive	-	3.7%
Real Estate	-	1.4%

Return for Risk

YNOT vs. FRGN — Risk / Return Rank

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

YNOT

YNOT Risk / Return Rank: 37
YNOT Sharpe Ratio Rank: 37
YNOT Sortino Ratio Rank: 35
YNOT Omega Ratio Rank: 34
YNOT Calmar Ratio Rank: 39
YNOT Martin Ratio Rank: 39

FRGN

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.

YNOT vs. FRGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) and Horizon International Equity ETF (FRGN). 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.

	YNOT	FRGN	Difference
Sharpe ratio: Return per unit of total volatility	1.10	—	—
Sortino ratio: Return per unit of downside risk	1.54	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.61	—	—
Martin ratio: Return relative to average drawdown	4.86	—	—

Drawdowns

YNOT vs. FRGN - Drawdown Comparison

The maximum YNOT drawdown since its inception was -16.73%, which is greater than FRGN's maximum drawdown of -12.40%. Use the drawdown chart below to compare losses from any high point for YNOT and FRGN.

Drawdown Indicators

	YNOT	FRGN	Difference
Max Drawdown Largest peak-to-trough decline	-16.73%	-12.40%	-4.33%
Max Drawdown (1Y) Largest decline over 1 year	-16.73%	—	—
Current Drawdown Current decline from peak	-8.18%	-3.84%	-4.34%
Average Drawdown Average peak-to-trough decline	-4.12%	-2.48%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	—	—

Volatility

Volatility by Period

	YNOT	FRGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.63%	22.10%	+2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	22.10%	+2.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	22.10%	+2.43%

YNOT vs. FRGN - Expense Ratio Comparison

Both YNOT and FRGN have an expense ratio of 0.75%.

Dividends

YNOT vs. FRGN - Dividend Comparison

YNOT has not paid dividends to shareholders, while FRGN's dividend yield for the trailing twelve months is around 0.21%.

Position	TTM	2025
FRGN Horizon International Equity ETF	0.21%	0.25%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both YNOT and FRGN in my portfolio?

YNOT and FRGN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, YNOT or FRGN?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YNOT or FRGN?

YNOT and FRGN have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, YNOT or FRGN?

FRGN has the higher dividend yield at 0.21%, compared with 0.00% for YNOT.

What is the main difference between YNOT and FRGN?

YNOT is categorized as Technology Equities, while FRGN is Foreign Large Cap Equities.