QGRD vs SPY
Horizon Nasdaq-100 Defined Risk ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | QGRD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $99M | $789.1B | |
| Dividend Yield | 1.37% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | +11.51% | +13.68% | |
| 1Y Return | +16.57% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -9.4% | -56.5% | |
| Fund Family | Horizon Funds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 9, 2025 | Jan 22, 1993 |
QGRD vs SPY Performance
Horizon Nasdaq-100 Defined Risk ETF (QGRD) is a ETF from Horizon Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QGRD returned +16.57% while SPY returned +21.53%. Year to date, QGRD is up 11.51% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
QGRD has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -9.4% for QGRD and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
QGRD charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, QGRD currently yields 1.37% against 1.01% for SPY.
Holdings Overlap
QGRD and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QGRD or SPY?
QGRD has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, QGRD or SPY?
Over the past year QGRD returned +16.57% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), QGRD annualized +18.66% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, QGRD or SPY?
QGRD has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: QGRD -9.4% vs SPY -56.5%.
Should I hold both QGRD and SPY?
QGRD and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QGRD and SPY?
QGRD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, QGRD or SPY?
QGRD yields 1.37% while SPY yields 1.01%, so QGRD currently pays the higher dividend yield.
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