Horizon International Equity ETF
$31.13+0.01 (+0.02%)
- 0.75%
- $169M
- 0M sh
- $31.21
- low $25.00high $32.36
The ETF.net FRGN Grade
C
Score 42 out of 100
- 34 of 57
Score 42 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D33 out of 100Rank 38 of 57Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C44 out of 100Rank 40 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 22 of 57Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C53 out of 100Rank 30 of 57
Our read on FRGN
COne ticker for developed and emerging markets, steered by quant models instead of an index, with put spreads layered on top. Horizon's international entry launched in December 2025, so the record is still being written.
The fund seeks capital appreciation through active management and quantitative models allocating across developed and emerging markets. It also uses put spreads tactically to enhance total-return potential.
Why people hold it
- Developed and emerging markets ride in one actively managed wrapper, so the manager sets the mix rather than an index committee.horizoninvestments.com
- Stock picking runs through multi-factor screens: value, quality, momentum and low volatility. Rules do the ranking, not hunches.horizoninvestments.com
- Put spreads are used tactically alongside the stock book, an options overlay most plain international funds simply do not carry.horizoninvestments.com
- Roughly 250 names across two market tiers, so no single stock or country dominates the outcome.
Worth knowing
- 0.75% a year sits above the norm for active international funds and far above index-plus rivals such as AVDE (0.23%) and DFIC (0.22%).
- It opened in December 2025, so there is no long history to judge the models or the options overlay against.
- Trading is light so far, which can mean wider bid-ask spreads, and distributions land once or twice a year rather than monthly.
FRGN Holdings
- Stocks
- 288
- 22%
- Taiwan Semiconductor Manufacturing Co Ltd
Sectors
- Technology23.8%
- Financials19.4%
- Industrials12.5%
- Energy11.2%
- Materials10.1%
- Health Care7.4%
- Consumer Discretionary6.3%
- Communication4.0%
- Consumer Staples4.0%
- Utilities0.9%
- Real Estate0.5%
Geography
- Japan14.92%
- Canada10.24%
- Taiwan9.88%
- United Kingdom8.73%
- South Korea6.89%
- Netherlands5.49%
- France5.21%
- Switzerland5.21%
- 33.43%
Developed 72% · Emerging 28%
FRGN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
FRGN$12,146
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FRGN |
|---|---|
| Year to date | +21.5% |
| 1 month | −2.3% |
| 3 months | −0.1% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FRGN |
|---|---|---|
| 2026 YTD | +21.5% | |
| 2025 | +1.6% |
FRGN in the news
FRGN Dividends
- $0.06 per share
- Irregular
Distribution data unavailable.
Distribution history
FRGN Risk
- —
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- —
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- —
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.14
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FRGN Cost
0.75%
FRGN0.75%
- The middle half of International Active Equity funds
- Median 0.59%
36 of the 55 International Active Equity funds charge less.
Other funds in International Active Equity
- CPIZInvesco Dorsey Wright Developed Markets Momentum ETFExpense ratio 0.80%1 year return +10.2%
- CABLGAbacus FCF International Leaders ETFExpense ratio 0.54%1 year return +2.0%
- CFINTThe Advisors' Inner Circle Fund II - Frontier Asset Total International Equity ETFExpense ratio 0.87%1 year return +22.6%
- CHDMVFirst Trust Horizon Managed Volatility Developed International ETFExpense ratio 0.80%1 year return +10.2%
- CIVSIApplied Finance IVS International Large ETFExpense ratio 0.65%1 year return —