YNOT vs. TSXU

Last updated Aug 4, 2026

YNOT (Horizon Digital Frontier ETF) and TSXU (Direxion Daily Semiconductors Top 5 Bull 2X Shares) are both exchange-traded funds - YNOT is a Technology Equities fund actively managed by Horizon, while TSXU is a Leveraged Equities fund tracking the Solactive Semiconductor Top 5 Index (2x). YNOT is actively managed, while TSXU is passively managed. Their correlation of 0.87 means they have usually moved in the same direction. YNOT charges 0.75%/yr vs 1.05%/yr for TSXU.

Performance

YNOT vs. TSXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YNOT achieves a 12.66% return, which is significantly lower than TSXU's 81.53% return.

YNOT

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

TSXU

• 1D: 1.53%
• 1M: -8.30%
• 6M: 48.90%
• YTD: 81.53%
• 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)
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	$8.58M	$5.40M	$2.96M
YNOT Horizon Digital Frontier ETF	$6.36M	$3.62M	$1.68M

YNOT vs. TSXU - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	12.66%	-0.80%
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	81.53%	37.96%

Correlation

The correlation between YNOT and TSXU is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.87

Return for Risk

YNOT vs. TSXU — 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

TSXU

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. TSXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) and Direxion Daily Semiconductors Top 5 Bull 2X Shares (TSXU). 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	TSXU	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

YNOT vs. TSXU - Drawdown Comparison

The maximum YNOT drawdown since its inception was -17.25%, smaller than the maximum TSXU drawdown of -38.13%. Use the drawdown chart below to compare losses from any high point for YNOT and TSXU.

Drawdown Indicators

	YNOT	TSXU	Difference
Max Drawdown Largest peak-to-trough decline	-17.25%	-38.13%	+20.88%
Max Drawdown (1Y) Largest decline over 1 year	-17.25%	—	—
Current Drawdown Current decline from peak	-9.12%	-26.61%	+17.49%
Average Drawdown Average peak-to-trough decline	-4.53%	-11.77%	+7.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.24%	—	—

Volatility

Volatility by Period

	YNOT	TSXU	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%	92.64%	-66.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.25%	92.64%	-67.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.25%	92.64%	-67.39%

YNOT vs. TSXU - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is lower than TSXU's 1.05% expense ratio.

Dividends

YNOT vs. TSXU - Dividend Comparison

YNOT has not paid dividends to shareholders, while TSXU's dividend yield for the trailing twelve months is around 1.93%.

Position	TTM	2025
TSXU Direxion Daily Semiconductors Top 5 Bull 2X Shares	1.93%	2.54%
YNOT Horizon Digital Frontier ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both YNOT and TSXU in my portfolio?

YNOT and TSXU have a correlation of 0.87, 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 TSXU?

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 TSXU?

YNOT is cheaper with a 0.75% expense ratio, compared with 1.05% for TSXU.

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

TSXU has the higher dividend yield at 1.93%, compared with 0.00% for YNOT.

What is the main difference between YNOT and TSXU?

YNOT is categorized as Technology Equities, while TSXU is Leveraged Equities. They also come from different issuers: Horizon and Direxion. Their fees differ too: 0.75% for YNOT and 1.05% for TSXU.