YNOT vs. VOX

Last updated Jul 15, 2026

YNOT (Horizon Digital Frontier ETF) and VOX (Vanguard Communication Services ETF) are both exchange-traded funds - YNOT is a Technology Equities fund actively managed by Horizon, while VOX is a Communications Equities fund tracking the MSCI US Investable Market Communication Services 25/50 Index. YNOT is actively managed, while VOX is passively managed. Over the past year, YNOT returned 26.87% vs 13.16% for VOX. A 0.54 correlation means they provide meaningful diversification when combined. YNOT charges 0.75%/yr vs 0.09%/yr for VOX.

Performance

YNOT vs. VOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Digital Frontier ETF (YNOT) and Vanguard Communication Services ETF (VOX). 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 higher than VOX's -0.87% return.

YNOT

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

VOX

• 1D: 0.17%
• 1M: 2.21%
• 6M: -1.47%
• YTD: -0.87%
• 1Y: 13.16%
• 3Y*: 21.57%
• 5Y*: 7.14%
• 10Y*: 8.14%

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

YNOT vs. VOX - Yearly Performance Comparison

	2026 (YTD)	2025
YNOT Horizon Digital Frontier ETF	13.83%	12.46%
VOX Vanguard Communication Services ETF	-0.87%	14.50%

Correlation

The correlation between YNOT and VOX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.54

The correlation between YNOT and VOX has been stable across timeframes, ranging from 0.54 to 0.54 - a consistent structural relationship.

Return for Risk

YNOT vs. VOX — 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

VOX

VOX Risk / Return Rank: 27
VOX Sharpe Ratio Rank: 28
VOX Sortino Ratio Rank: 28
VOX Omega Ratio Rank: 26
VOX Calmar Ratio Rank: 25
VOX Martin Ratio Rank: 29

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. VOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Digital Frontier ETF (YNOT) and Vanguard Communication Services ETF (VOX). 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	VOX	Difference
Sharpe ratio: Return per unit of total volatility	1.10	0.82	+0.28
Sortino ratio: Return per unit of downside risk	1.54	1.27	+0.27
Omega ratio: Gain probability vs. loss probability	1.19	1.15	+0.04
Calmar ratio: Return relative to maximum drawdown	1.61	0.98	+0.64
Martin ratio: Return relative to average drawdown	4.86	3.20	+1.66

YNOT vs. VOX - Sharpe Ratio Comparison

The current YNOT Sharpe Ratio is 1.10, which is higher than the VOX Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of YNOT and VOX, 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. VOX - Drawdown Comparison

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

Drawdown Indicators

	YNOT	VOX	Difference
Max Drawdown Largest peak-to-trough decline	-16.73%	-57.18%	+40.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.73%	-13.56%	-3.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.76%	—
Current Drawdown Current decline from peak	-8.18%	-4.20%	-3.98%
Average Drawdown Average peak-to-trough decline	-4.12%	-11.88%	+7.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	4.12%	+1.42%

Volatility

YNOT vs. VOX - Volatility Comparison

Horizon Digital Frontier ETF (YNOT) has a higher volatility of 8.54% compared to Vanguard Communication Services ETF (VOX) at 6.22%. This indicates that YNOT's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YNOT	VOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	6.22%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	12.60%	+7.51%
Volatility (1Y) Calculated over the trailing 1-year period	24.63%	16.14%	+8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.53%	21.31%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.53%	20.94%	+3.59%

YNOT vs. VOX - Expense Ratio Comparison

YNOT has a 0.75% expense ratio, which is higher than VOX's 0.09% expense ratio.

Dividends

YNOT vs. VOX - Dividend Comparison

YNOT has not paid dividends to shareholders, while VOX's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VOX Vanguard Communication Services ETF	1.03%	0.95%	1.05%	1.03%	0.88%	0.93%	0.73%	0.90%	2.77%	3.83%	2.67%	3.55%
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%	0.00%

Frequently Asked Questions

Can I hold both YNOT and VOX in my portfolio?

YNOT and VOX have a correlation of 0.54, 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 VOX?

YNOT has higher volatility (8.54%) compared to VOX (6.22%). In terms of maximum drawdown, YNOT dropped -16.73% vs VOX's -57.18%.

Which ETF is better, YNOT or VOX?

On 1-year performance, YNOT leads with 26.87% vs 13.16% for VOX. On fees, VOX is cheaper at 0.09% per year. On volatility, VOX has been the lower-risk option at 6.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YNOT or VOX?

Over the 1-year period, YNOT has performed better with a 26.87% return vs 13.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YNOT or VOX?

VOX is cheaper with a 0.09% expense ratio, compared with 0.75% for YNOT.

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

VOX has the higher dividend yield at 1.03%, compared with 0.00% for YNOT.

What is the main difference between YNOT and VOX?

YNOT is categorized as Technology Equities, while VOX is Communications Equities. They also come from different issuers: Horizon and Vanguard. Their fees differ too: 0.75% for YNOT and 0.09% for VOX.

Which has better risk-adjusted returns?

YNOT currently has the higher Sharpe Ratio (1.10 vs 0.82), 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.