YNOT vs. KNCT

Last updated Jul 15, 2026

YNOT (Horizon Digital Frontier ETF) and KNCT (Invesco Next Gen Connectivity ETF) are both Technology Equities funds. YNOT is actively managed, while KNCT is passively managed. Over the past year, YNOT returned 26.87% vs 72.99% for KNCT. Their correlation of 0.84 suggests significant overlap in exposure. YNOT charges 0.75%/yr vs 0.40%/yr for KNCT.

Performance

YNOT vs. KNCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) and Invesco Next Gen Connectivity ETF (KNCT). 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 KNCT's 48.82% return.

YNOT

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

KNCT

• 1D: 1.70%
• 1M: -2.49%
• 6M: 43.42%
• YTD: 48.82%
• 1Y: 72.99%
• 3Y*: 37.06%
• 5Y*: 18.65%
• 10Y*: 20.10%

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

YNOT vs. KNCT - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	13.83%	12.46%
KNCT Invesco Next Gen Connectivity ETF	48.82%	14.52%

Correlation

The correlation between YNOT and KNCT is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.84

The correlation between YNOT and KNCT has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

YNOT vs. KNCT - Sectors Allocation Comparison

Sectors	YNOT	KNCT
Technology	48.5%	84.4%
Industrials	15.8%	0.8%
Communication Services	14.8%	11.4%
Consumer Cyclical	8.3%	-
Basic Materials	8.3%	-
Financial Services	1.8%	0.2%
Utilities	1.2%	-
Healthcare	0.7%	-
Energy	0.6%	-
Consumer Defensive	-	-
Real Estate	-	3.3%

Return for Risk

YNOT vs. KNCT — 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

KNCT

KNCT Risk / Return Rank: 93
KNCT Sharpe Ratio Rank: 94
KNCT Sortino Ratio Rank: 90
KNCT Omega Ratio Rank: 91
KNCT Calmar Ratio Rank: 95
KNCT Martin Ratio Rank: 95

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. KNCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) and Invesco Next Gen Connectivity ETF (KNCT). 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	KNCT	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.79	-1.70
Sortino ratio: Return per unit of downside risk	1.54	3.30	-1.76
Omega ratio: Gain probability vs. loss probability	1.19	1.46	-0.27
Calmar ratio: Return relative to maximum drawdown	1.61	5.97	-4.35
Martin ratio: Return relative to average drawdown	4.86	21.48	-16.62

YNOT vs. KNCT - Sharpe Ratio Comparison

The current YNOT Sharpe Ratio is 1.10, which is lower than the KNCT Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of YNOT and KNCT, 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

YNOT vs. KNCT - Drawdown Comparison

The maximum YNOT drawdown since its inception was -16.73%, smaller than the maximum KNCT drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for YNOT and KNCT.

Drawdown Indicators

	YNOT	KNCT	Difference
Max Drawdown Largest peak-to-trough decline	-16.73%	-57.18%	+40.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.73%	-12.30%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.55%	—
Current Drawdown Current decline from peak	-8.18%	-9.51%	+1.33%
Average Drawdown Average peak-to-trough decline	-4.12%	-10.72%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	3.41%	+2.13%

Volatility

YNOT vs. KNCT - Volatility Comparison

The current volatility for Horizon Digital Frontier ETF (YNOT) is 8.54%, while Invesco Next Gen Connectivity ETF (KNCT) has a volatility of 12.52%. This indicates that YNOT experiences smaller price fluctuations and is considered to be less risky than KNCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YNOT	KNCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	12.52%	-3.98%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	23.40%	-3.29%
Volatility (1Y) Calculated over the trailing 1-year period	24.63%	26.28%	-1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	24.26%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	23.41%	+1.12%

YNOT vs. KNCT - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is higher than KNCT's 0.40% expense ratio.

Dividends

YNOT vs. KNCT - Dividend Comparison

YNOT has not paid dividends to shareholders, while KNCT's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
KNCT Invesco Next Gen Connectivity ETF	0.64%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YNOT and KNCT in my portfolio?

YNOT and KNCT have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YNOT or KNCT?

KNCT has higher volatility (12.52%) compared to YNOT (8.54%). In terms of maximum drawdown, YNOT dropped -16.73% vs KNCT's -57.18%.

Which ETF is better, YNOT or KNCT?

On 1-year performance, KNCT leads with 72.99% vs 26.87% for YNOT. On fees, KNCT is cheaper at 0.40% per year. On volatility, YNOT has been the lower-risk option at 8.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YNOT or KNCT?

Over the 1-year period, KNCT has performed better with a 72.99% return vs 26.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YNOT or KNCT?

KNCT is cheaper with a 0.40% expense ratio, compared with 0.75% for YNOT.

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

KNCT has the higher dividend yield at 0.64%, compared with 0.00% for YNOT.

What is the main difference between YNOT and KNCT?

They also come from different issuers: Horizon and Invesco. Their fees differ too: 0.75% for YNOT and 0.40% for KNCT.

Which has better risk-adjusted returns?

KNCT currently has the higher Sharpe Ratio (2.79 vs 1.10), 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.