YNOT vs. QGRD

Last updated Jun 4, 2026

YNOT (Horizon Digital Frontier ETF) and QGRD (Horizon NASDAQ-100 Defined Risk ETF) are both exchange-traded funds - YNOT is a Technology Equities fund actively managed by Horizon, while QGRD is a Equity Hedged fund actively managed by Horizon. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. YNOT charges 0.75%/yr vs 0.85%/yr for QGRD.

Performance

YNOT vs. QGRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) 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, YNOT achieves a 21.63% return, which is significantly higher than QGRD's 15.09% return.

YNOT

• 1D: -1.88%
• 1M: 8.38%
• YTD: 21.63%
• 6M: 20.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

QGRD

• 1D: -0.13%
• 1M: 8.60%
• YTD: 15.09%
• 6M: 13.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YNOT vs. QGRD - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	21.63%	11.82%
QGRD Horizon NASDAQ-100 Defined Risk ETF	15.09%	8.34%

Correlation

The correlation between YNOT and QGRD is 0.89, 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 11, 2025	0.89

Return for Risk

YNOT vs. QGRD - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	YNOT	QGRD	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	2.16	-0.39

Drawdowns

YNOT vs. QGRD - Drawdown Comparison

The maximum YNOT drawdown since its inception was -16.73%, which is greater than QGRD's maximum drawdown of -9.41%. Use the drawdown chart below to compare losses from any high point for YNOT and QGRD.

Drawdown Indicators

	YNOT	QGRD	Difference
Max Drawdown Largest peak-to-trough decline	-16.73%	-9.41%	-7.32%
Current Drawdown Current decline from peak	-1.88%	-0.13%	-1.75%
Average Drawdown Average peak-to-trough decline	-3.74%	-2.19%	-1.55%

Volatility

Volatility by Period

	YNOT	QGRD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	12.92%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.11%	12.92%	+10.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.11%	12.92%	+10.19%

YNOT vs. QGRD - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is lower than QGRD's 0.85% expense ratio.

Dividends

YNOT vs. QGRD - Dividend Comparison

YNOT has not paid dividends to shareholders, while QGRD's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025
QGRD Horizon NASDAQ-100 Defined Risk ETF	1.36%	1.57%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both YNOT and QGRD in my portfolio?

YNOT and QGRD have a correlation of 0.89, 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 QGRD?

On fees, YNOT is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, YNOT or QGRD?

YNOT is cheaper with a 0.75% expense ratio, compared with 0.85% for QGRD.

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

QGRD has the higher dividend yield at 1.36%, compared with 0.00% for YNOT.

What is the main difference between YNOT and QGRD?

YNOT is categorized as Technology Equities, while QGRD is Equity Hedged. Their fees differ too: 0.75% for YNOT and 0.85% for QGRD.