FRGNvsCWIETF Comparison
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Horizon International Equity ETF (FRGN) belongs to the Options Strategies segment. State Street SPDR MSCI ACWI ex-US ETF (CWI) is part of the Global Blended Cap segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Industrials. FRGN is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.3% for CWI. FRGN is up 18.93% year-to-date (YTD) with +$594K in YTD flows. CWI performs worse with 11.94% YTD performance, and +$145M in YTD flows. Run a side-by-side ETF comparison of FRGN and CWI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FRGN vs CWI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FRGN CWI | -1.57%-0.87% | +3.94%+3.18% | +18.93%+11.94% | n/a+24.31% | n/a+61.25% | n/a+57.05% |
| Flows | FRGN CWI | -$6M+$16M | +$3M+$40M | +$594K+$145M | -+$390M | -+$335M | -+$377M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FRGN CWI | +18.67%+15.47% | n/a+14.10% | n/a+13.34% | n/a+14.20% |
| Max drawdown | FRGN CWI | -5.92%-4.30% | n/a-10.82% | n/a-13.36% | n/a-28.77% |
| Max drawdown duration | FRGN CWI | 35d35d | n/a65d | n/a43d | n/a925d |
Trading data
FRGN | CWI | |
Last sale 7/28/2026 at 1:30 PM | $30.12 | $39.49 |
| Previous close 07/27/2026 | $30.47 | $39.77 |
| Consolidated volume 07/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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FRGN
is actively managed and doesn’t replicate an indexFRGN | CWI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/28/2026 at 1:30 PM
Live
Closed
FRGN | CWI | |
|---|---|---|
| Last price | $30.12 | $39.49 |
| 1D performance | -1.14% | -0.70% |
| AuM | $100.85 M | $2.75 B |
| E/R | 0.75% | 0.3% |
Characteristics
FRGN | CWI | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Horizon Investments | State Street Investment Management |
| Benchmark | - | MSCI ACWI ex USA Index |
| N° of holdings | 440 | 1102 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2025 | January 10, 2007 |
| ESG | No | No |
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Exposure
Countries
FRGN
Japan
15.67%
Canada
9.19%
Taiwan
8.46%
United Kingdom
8.11%
Republic of Korea
8.01%
Other
50.56%
CWI
Japan
13.84%
Taiwan
9.06%
Canada
8.35%
United Kingdom
8.21%
Republic of Korea
7.69%
Other
52.86%
Sectors
FRGN
Technology
24.93%
Finance
20%
Industrials
12.03%
Non-Energy Materi.
8.8%
Energy
7.85%
Healthcare
7.8%
Other
18.59%
CWI
Technology
24.83%
Finance
24.74%
Industrials
11.34%
Other
39.09%
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Diversification
FRGN
Total weight of top 15 holdings out of 15
27.19%
CWI
Total weight of top 15 holdings out of 15
21.32%
Top 15 holdings
Data as of June 30, 2026
FRGN
Taiwan Semiconductor Manufacturing Co., Ltd.
4.43%
ASML Holding NV
4.03%
Samsung Electronics Co., Ltd.
2.77%
SK hynix, Inc.
2.54%
The Toronto-Dominion Bank
1.75%
Roche Holding AG
1.47%
Shell Plc
1.46%
Tokyo Electron Ltd.
1.29%
TotalEnergies SE
1.22%
Novartis AG
1.14%
Advantest Corp.
1.09%
Royal Bank of Canada
1.03%
UBS Group AG
1.01%
AstraZeneca PLC
0.99%
Rio Tinto Plc
0.97%
CWI
Taiwan Semiconductor Manufacturing Co., Ltd.
5.38%
Samsung Electronics Co., Ltd.
2.90%
SK hynix, Inc.
2.55%
ASML Holding NV
2.11%
HSBC Holdings Plc
0.95%
Royal Bank of Canada
0.90%
Tencent Holdings Ltd.
0.89%
Roche Holding AG
0.82%
Novartis AG
0.78%
AstraZeneca PLC
0.76%
Nestlé SA
0.72%
Siemens AG
0.69%
The Toronto-Dominion Bank
0.66%
Tokyo Electron Ltd.
0.61%
Mitsubishi UFJ Financial Group, Inc.
0.61%
Frequently asked questions about FRGN and CWI
How have the FRGN and CWI ETFs performed in 2026?
As of July 27, 2026, FRGN is up 18.93% year-to-date (YTD), while CWI has returned 11.94%. That puts FRGN better performer ahead so far this year.
Which ETF is attracting more investor money: FRGN or CWI?
Year-to-date, the FRGN ETF saw +$594K in flows, compared to +$145M for CWI.
Which ETF is bigger: FRGN or CWI?
As of July 27, 2026, FRGN holds $100.85 M in assets under management (AUM), while CWI manages $2.75 B.
What sectors do the FRGN and CWI ETFs invest in?
FRGN leans toward sectors like Technology, Finance and Industrials. Meanwhile, CWI focuses on Technology, Finance and Industrials.
What are the top holdings of the FRGN ETF and CWI ETF?
FRGN top holdings include Taiwan Semiconductor Manufacturing Co., Ltd., ASML Holding NV and Samsung Electronics Co., Ltd.. CWI holds in its top three: Taiwan Semiconductor Manufacturing Co., Ltd., Samsung Electronics Co., Ltd. and SK hynix, Inc..
Which ETF is more diversified: FRGN or CWI?
FRGN holds 441 securities with 27.19% of its assets in the top 15. CWI has 1107 securities and a top 15 weight of 21.32%.
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