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Launched · SEC filings

Horizon International Equity ETF

FRGNNYSE ArcaHorizon FundsD

$29.38−0.11 (−0.37%)

As of Nov 6, 2026, 10:09 AM ET

D37/ 100

Rank 43 of 56 in International Active Equity

D37/100Rank 43 of 56inInternational Active Equity
Intraday session: down, 6 prints from 29.49 to 29.38. Range 29.38 to 29.49. Use the arrow keys to read each point.29.4029.4229.4429.4610 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$163M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
288
Avg volume · 30D
55.8K sh
52W range
low $25.00high $32.36
Launched
Filings
SEC EDGAR

The ETF.net FRGN Grade

Based on 4 of 6 pillars

D

Score 37 out of 100

Category
International Active Equity⁠
Rank
43 of 56
Six-pillar profile for FRGN. Scores out of 100: Cost 25, Risk 45, Mission not scored, Tradability 53, Holdings not scored, Durability 50. Strongest: Tradability (53). Weakest: Cost (25). Based on 4 of 6 pillars.

Score 37 of 100 falls in the D 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.
    D25 out of 100
    Rank 42 of 56

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C45 out of 100
    Rank 38 of 56

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C53 out of 100
    Rank 27 of 56

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C50 out of 100
    Rank 30 of 56

Our read on FRGN

ETF.net Research

In short

DOne 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.

Stated mandate

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

Asset class
Stocks
Holdings
288
Top-10 weight
21%
Largest holding
Taiwan Semiconductor Manufacturing Co Ltd3.9%

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%
  • Canada10.82%
  • United Kingdom9.27%
  • Taiwan9.11%
  • South Korea6.20%
  • China5.57%
  • France5.50%
  • Switzerland5.17%
  • Other countries (23)33.45%

Developed 72% · Emerging 28% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 20.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTaiwan Semiconductor Manufacturing Co Ltd3.92%98,246$6.75M2
2No dataShell PLC2.77%93,313$4.77M2
3No dataASML Holding NV2.59%2,972$4.46M2
4No dataSamsung Electronics Co Ltd2.41%26,472$4.16M3
5No dataRoche Holding AG2.26%8,022$3.89M3
6No dataTotal SE1.69%31,853$2.92M2
7No dataSK hynix Inc1.61%2,663$2.77M3
8No dataSap SE1.38%9,873$2.38M5
9No dataBanco Bilbao Vizcaya1.34%91,508$2.31M2
10No dataRecruit Holdings Co Ltd1.16%18,000$1.99M2
11No dataHitachi Ltd1.14%63,500$1.96M2
12No dataAdvantest Corp1.09%8,600$1.88M4
13No dataCanadian Nat Res Ltd1.02%35,447$1.76M3
14No dataBp PLC1.00%223,178$1.72M7
15No dataSony Group Corp0.95%66,200$1.64M2

Showing 1–15 of 288 holdings

FRGN Performance

Launched Dec 2, 2025

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$11,479
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,833
Dec 31, 2025 to Nov 5, 2026. FRGN $11,479. SPY $10,833. Use the arrow keys to read each point.$10,000$11,000$12,000Dec 2025Jun 2026Nov 2026

Dec 31, 2025 – Nov 5, 2026

Returns run to the Nov 5, 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.

Trailing total return for FRGN. Periods over one year show the average yearly return.
PeriodFRGN
Year to date+14.8%
1 month−6.8%
3 months−6.4%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FRGN
YearReturn barFRGN
2026 YTD+14.8%
2025+1.6%

History from Dec 4, 2025

FRGN in the news

FRGN Dividends

Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.06

FRGN Risk

Risk pillarC45 out of 100Rank 38 of 56 in International Active Equity
How much the fund’s monthly returns vary, scaled to a year.
Launched Dec 2025; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
Launched Dec 2025; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
Launched Dec 2025; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
1.14
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FRGN Cost

Compare FRGN and TACN

Overpaying vs TACN, cheapest in International Active Equity

$14,482

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FRGN 0.75%

    $14,482

  • TACN 0.00% Cheapest

    $0

$10,000
30 years

Cost over time

  • FRGN 0.75%
  • TACN 0.00%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530FRGN $14,482TACN $0

Year by year

YearFRGNTACNOverpaying
10$1,336$0$1,336
20$5,078$0$5,078
30$14,482$0$14,482

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