What Is the HBTA ETF? A Complete Guide to Returns, Fees, Holdings, and Alternative ETFs
The Horizon Expedition Plus ETF (HBTA) is an actively managed high-beta US large-cap ETF that selects stocks with a quantitative model and combines call and put option strategies. It seeks higher volatility exposure than the market along with option-based distribution income, making it an aggressive choice whose dividend and strategy profile differ from low-fee core ETFs.
SubscribeWhat Is the Horizon Expedition Plus ETF?
This is an actively managed ETF built on US large-cap stocks that seeks greater volatility exposure than the market average. It uses a quantitative model to select stocks with high return potential and runs an option strategy alongside them.
It suits active investors who want more aggressive volatility exposure to US large caps and who understand strategies that incorporate options.
It is an actively managed ETF run by Horizon Investments.
How Does the Horizon Expedition Plus ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | None (actively managed) |
| Management Style | Active (quantitative model selection) |
| Rebalancing Frequency | At the discretion of the management team |
| Distribution Frequency | Distributions based on option income |
| Issuer | Horizon Investments |
| Expense Ratio | 0.86% |
The fund uses a quantitative model to select US large-cap stocks that combine return potential with above-average risk characteristics, seeking higher volatility exposure than the market. It then layers on an option strategy that buys and sells calls and puts to supplement its income stream.
- Active stock selection oriented toward high beta
- Return strategy combining option buying and selling
Horizon Expedition Plus ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $233.6M, and the expense ratio is 0.86% per year.
The broad core ETFs shown in the table track passive indexes and tend to carry low fees, whereas this ETF combines active management with an option strategy, so its fee burden is relatively higher.
Horizon Expedition Plus ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeGiven its high-beta orientation, the fund can show larger moves than broad indexes in rising markets and amplified volatility in falling markets. The option strategy supplements part of the income stream, but directional risk remains.
It is a relatively recently launched active ETF, and its assets are smaller than those of broad core ETFs. Fund flows may vary with market demand for high-volatility exposure and option income.
Horizon Expedition Plus ETF Pros and Cons
The fund is characterized by higher volatility exposure than the market combined with option income, and its drawbacks are correspondingly larger potential losses and higher fees.
💪 Key Strengths
⚠️ Points to Watch
Horizon Expedition Plus ETF Alternative ETFs and Related Products
ITOT, SCHB, VXF, and others shown in the table are broad core ETFs that track the overall US market at low cost, and they serve as a benchmark whose character differs from this ETF's high-beta, option-combined structure. For more direct comparisons, you can also consider QQQ, which tracks the Nasdaq 100 and is highly volatile, JEPI, which seeks distribution income by selling options, and JEPQ, an option income product in the same category.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 ITOT | iShares Core S&P Total U.S. Stock Market ETF | $164.70 | +0.3% | $95.1B | 0.03% | 1.02% | +10.4% |
 SCHB | Schwab U.S. Broad Market ETF | $29.04 | +0.3% | $44.0B | 0.03% | 1.06% | +10.4% |
 VXF | Vanguard Extended Market Index ETF | $231.65 | +0.6% | $30.2B | 0.05% | 1.05% | +9.7% |
 IWV | iShares Russell 3000 ETF | $428.45 | +0.3% | $20.1B | 0.20% | 0.88% | +10.5% |
 OEF | iShares S&P 100 Fund | $372.09 | +0.4% | $19.9B | 0.20% | 0.88% | +7.5% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| GOOG | Alphabet Inc | 0.17% | $278.27 | +0.1% | $3.41T | 14.5 | 0.31% |
 MAGS | Roundhill Magnificent Seven ETF | 0.17% | $68.74 | +0.8% | $0.0M | - | 1.42% |
| NVDA | NVIDIA Corp | 0.14% | $206.69 | +2.3% | $4.98T | 26.1 | 0.38% |
| AAPL | Apple Inc | 0.13% | $331.90 | -1.9% | $4.84T | 37.0 | 0.35% |
| AMZN | Amazon.com Inc | 0.07% | $250.69 | +2.1% | $2.71T | 20.3 | - |
| MU | Micron Technology Inc | 0.05% | $855.10 | +2.6% | $967.5B | 11.5 | 0.08% |
Horizon Expedition Plus ETF Investor Checkpoints
Here are the points to review before investing in HBTA. Because it is an active product that combines high-beta exposure with an option strategy, you need to understand its volatility, costs, and strategy structure in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 📊 Volatility Exposure | Whether you can tolerate volatility higher than the market's | Needs review |
| 💵 Expense Ratio | Cumulative cost impact over a long holding period | Relatively high |
| ⚙️ Option Strategy | Whether you understand the combined call and put structure | Understanding required |
| 💱 Exchange Rate | Impact on returns when converted to Korean won | No currency hedge |
The high-beta orientation can magnify losses relative to broad indexes in falling markets, and the results of the option strategy also vary with market conditions. As an actively managed fund, it also depends heavily on management performance.
It is a product suited to active investors who want more aggressive volatility exposure to US large caps along with an option-combined strategy. If your goal is stable core exposure, a broad low-fee ETF may be a better fit.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 25, 2026.
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