First Trust Horizon Managed Volatility… (HSMV) Performance
HSMV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.5% since Dec 31, 2025
- 1 year
- +5.1% total return
- 5 years
- +3.6% a year
- Since first price
- +10.5% a year since 2020
HSMV trailing returns vs SPY, QQQ, AGG
| Period | HSMV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.5% | −1.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.8% | −6.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.1% | −4.3% | +7.8% | +8.4% | −1.5% |
| YTD | +5.5% | +1.7% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.1% | +0.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +38.4%+11.4%/yr | +28.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +19.1%+3.6%/yr | +7.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionApr 7, 2020 | +92.1%+10.5%/yr | +71.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HSMV vs SPY
From Apr 7, 2020: HSMV grew to $19,211, SPY to $31,341.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HSMV returns by calendar year
4 of 5 full years positive. Best 2021 (+23.7%), worst 2022 (−9.4%). 2026 is year to date.
HSMV annual returns table
| Year | HSMV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.5% | −9.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +1.6% | −11.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.2% | −7.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.0% | −15.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.4% | −19.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +23.7% | −6.9% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HSMV largest drawdowns
Now 6.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 4, 2022 | −19.2% | Sep 30, 2022 | May 10, 2024 | 9 months | 2.3 years |
| Nov 25, 2024 | −15.4% | Apr 8, 2025 | Feb 6, 2026 | 4 months | 1.2 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HSMV risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +8.9% | +4.1% | +8.8% |
| Volatility (annualized) | 12.9% | 15.2% | 14.8% |
| Sharpe ratio | 0.39 | 0.10 | 0.45 |
| Sortino ratio | 0.61 | 0.15 | 0.73 |
| Best month | +7.8% | +9.5% | +10.8% |
| Worst month | −6.9% | −8.4% | −8.4% |
| Best 12 months | +29.7% | +29.7% | +43.1% |
| Worst 12 months | −4.5% | −11.1% | −11.1% |
| Positive months | 56% | 50% | 56% |
| Beta vs S&P 500 | 0.56 | 0.74 | — |
| Correlation with S&P 500 | 0.54 | 0.76 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HSMV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 67 | −11.1% | +6.5% | +43.1% | 75% |
| 3-year (a year) | 43 | +1.1% | +6.1% | +11.1% | 100% |
| 5-year (a year) | 19 | +3.7% | +6.5% | +10.2% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
HSMV performance overview
First Trust Horizon Managed Volatility… (HSMV) returned +5.1% over the past year and +3.6% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +10.5% a year, turning $10,000 into about $19,211. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −19.2%, from Jan 4, 2022 to Sep 30, 2022, and it took 1.6 years to get back to the old high. HSMV finished 4 of its 5 full calendar years with a gain; the best year was 2021 (+23.7%) and the worst 2022 (−9.4%). Volatility has been 14.8% a year.
Related: HSMV chart, HSMV holdings, HSMV dividends, HSMV valuation. See the HSMV overview for the latest quote and fund facts.
HSMV performance FAQ
What is the HSMV return over the past year?
HSMV returned +5.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 0.5%.
What is the average annual return of HSMV?
HSMV has returned +3.6% a year over 5 years, +10.5% a year since April 7, 2020 (total return, distributions reinvested).
How much would $10,000 invested in HSMV be worth?
$10,000 invested in HSMV at its first recorded close on April 7, 2020 would be worth about $19,211 on October 23, 2026 with distributions reinvested.
What was the worst year for HSMV?
The worst calendar year was 2022, with a total return of −9.4%. The best was 2021 at +23.7%.
What is the biggest drawdown of HSMV?
The largest peak-to-trough decline was −19.2% between January 4, 2022 and September 30, 2022. It recovered to the old high on May 10, 2024, 1.6 years after the bottom.
How volatile is HSMV?
Over the past 3 years HSMV had an annualized volatility of 12.9% and a Sharpe ratio of 0.39 (excess return over 1–3 month T-bills per unit of risk).