Below is a quoted paragraph from an article posted on Kentucky Equine Research that talks about feeding barley fodder:
"In a recent research study on fodder, mature, unexercised Quarter Horses were fed 1% of their body weight in hay, 2% in fodder, and no grain. One interesting result of the study: the horses maintained their weight on this diet. Normally, a horse would consume 1.5-2% of body weight in forage daily, but because of the high water content of the fodder (about 85% water), these horses appeared to be consuming 3% of body weight. On a dry matter basis, however, they were only getting at most 1.3% of body weight. The horses were able to maintain their weight on lower dry matter intakes than normal because of the high quality of the fodder"
Read More: https://ker.com/equinews/answer/qa-feeding-fodder-horses/
"The use of fodder, or fresh forage sprouts, has increased in recent years. The advantages of feeding fodder in the diet are undeniable, especially for horses without access to green grass. Fodder is a high-quality forage; on a dry matter basis, it is nearly as high as grain in calories yet higher in fiber. The high water content encourages smooth passage of ingesta through the gastrointestinal tract and could potentially reduce the risk of colic and digestive upset. The vitamin content in fodder is also much better than in hay. Evidence suggests that fodder fosters a balance of microbes in the digestive tract and may increase digestibility of other nutritional components of the diet."