YNOT vs. MOON

Last updated Aug 4, 2026

YNOT (Horizon Digital Frontier ETF) and MOON (Direxion Moonshot Innovators ETF) are both Technology Equities funds. YNOT is actively managed, while MOON is passively managed. YNOT charges 0.75%/yr vs 0.65%/yr for MOON.

Performance

YNOT vs. MOON - Performance Comparison

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

Returns By Period

YNOT

• 1D: 2.33%
• 1M: -0.24%
• 6M: 8.03%
• YTD: 12.66%
• 1Y: 23.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.88%

MOON

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
YNOT Horizon Digital Frontier ETF	$6.36M	$3.62M	$1.68M

YNOT vs. MOON - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	12.66%	12.46%
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%

YNOT vs. MOON - Sectors Allocation Comparison

Sectors	YNOT	MOON
Technology	49.2%	42.4%
Industrials	17.4%	7.5%
Communication Services	14.3%	9.3%
Consumer Cyclical	7.5%	11.9%
Basic Materials	7.5%	1.2%
Financial Services	1.8%	4.2%
Utilities	1.1%	-
Healthcare	0.6%	23.5%
Energy	0.6%	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

YNOT vs. MOON — Risk / Return Rank

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

YNOT

YNOT Risk / Return Rank: 34
YNOT Sharpe Ratio Rank: 34
YNOT Sortino Ratio Rank: 34
YNOT Omega Ratio Rank: 32
YNOT Calmar Ratio Rank: 36
YNOT Martin Ratio Rank: 36

MOON

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

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.

YNOT vs. MOON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) and Direxion Moonshot Innovators ETF (MOON). 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	MOON	Difference
Sharpe ratio: Return per unit of total volatility	0.93	—	—
Sortino ratio: Return per unit of downside risk	1.38	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.39	—	—
Martin ratio: Return relative to average drawdown	3.82	—	—

Drawdowns

Drawdown Indicators

	YNOT	MOON	Difference
Max Drawdown Largest peak-to-trough decline	-17.25%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.25%	—	—
Current Drawdown Current decline from peak	-9.12%	—	—
Average Drawdown Average peak-to-trough decline	-4.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	6.24%	—	—

Volatility

Volatility by Period

	YNOT	MOON	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.80%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.25%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.25%	—	—

YNOT vs. MOON - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is higher than MOON's 0.65% expense ratio.

Dividends

YNOT vs. MOON - Dividend Comparison

Neither YNOT nor MOON has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
MOON Direxion Moonshot Innovators ETF	0.00%	0.00%	0.62%	1.41%	0.00%	1.64%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, YNOT or MOON?

On fees, MOON is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YNOT or MOON?

MOON is cheaper with a 0.65% expense ratio, compared with 0.75% for YNOT.

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

YNOT and MOON have nearly identical dividend yields, around 0.00%.

What is the main difference between YNOT and MOON?

They also come from different issuers: Horizon and Direxion. Their fees differ too: 0.75% for YNOT and 0.65% for MOON.