- Issuer
- Horizon
- Inception Date
- Jan 22, 2025
- Region
- North America (U.S.)
- Category
- Ultrashort Bond
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Bond
- Assets Under Management
- $267M
Highlights
- Avg. Volume (1M)
- 88K
- Avg. Volume Value (1M)
- $4.68M
Share Price Chart
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Performance
BENJ Performance Chart
Horizon Landmark ETF (BENJ) is up 2.1% since the beginning of the year. BENJ is currently trading at $53 per share.
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Returns By Period
Horizon Landmark ETF (BENJ) has returned 2.12% so far this year and 3.80% over the past 12 months.
Horizon Landmark ETF
- 1D
- 0.01%
- 1M
- 0.37%
- 6M
- 1.81%
- YTD
- 2.12%
- 1Y
- 3.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.83%
Benchmark (S&P 500 Index)
- 1D
- 1.79%
- 1M
- 3.38%
- 6M
- 11.83%
- YTD
- 13.02%
- 1Y
- 22.22%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
BENJ Monthly Returns History
Based on dividend-adjusted daily data since Jan 23, 2025, BENJ's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.
Historically, 90% of months were positive and 10% were negative. The best month was Jul 2025 with a return of +0.7%, while the worst month was Aug 2025 at -0.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 1 months.
On a daily basis, BENJ closed higher 70% of trading days. The best single day was Jul 31, 2025 with a return of +0.5%, while the worst single day was Aug 1, 2025 at -0.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.29% | 0.27% | 0.32% | 0.23% | 0.33% | 0.23% | 0.46% | -0.03% | 2.12% | ||||
| 2025 | 0.08% | 0.29% | 0.29% | 0.31% | 0.38% | 0.34% | 0.72% | -0.10% | 0.35% | 0.31% | 0.29% | 0.41% | 3.72% |
Benchmark Metrics
Horizon Landmark ETF has an annualized alpha of 3.79%, beta of 0.00, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since January 23, 2025.
- This ETF captured 6.25% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -18.45%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.01 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.01 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.79%
- Beta
- 0.00
- R²
- 0.01
- Upside Capture
- 6.25%
- Downside Capture
- -18.45%
Expense Ratio
BENJ has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BENJ ranks 100 for risk / return — above 100% of ETFs peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Horizon Landmark ETF (BENJ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BENJ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +9.52 | ||
| Sortino ratioReturn per unit of downside risk | +24.20 | ||
| Omega ratioGain probability vs. loss probability | 6.46 | 1.31 | +5.15 |
| Calmar ratioReturn relative to maximum drawdown | 65.33 | 2.45 | +62.88 |
| Martin ratioReturn relative to average drawdown | 362.26 | 10.40 | +351.86 |
Dividends
Dividend History
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Horizon Landmark ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Horizon Landmark ETF was 0.39%, occurring on Aug 1, 2025. Recovery took 27 trading sessions.
The current Horizon Landmark ETF drawdown is 0.03%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-0.39%Aug 2025 | 1d | 1mo 10d | 1mo 10dAug 2025 - Sep 2025 | — |
-0.06%Apr 2026 | 1d | 6d | 7dApr 2026 - Apr 2026 | — |
-0.05%Jun 2026 | 1d | 6d | 6dJun 2026 - Jul 2026 | — |
-0.05%Feb 2025 | 1d | 2d | 2dFeb 2025 - Feb 2025 | 2025 selloff2025 |
-0.05%Jan 2026 | 1d | 7d | 7dJan 2026 - Jan 2026 | — |
Drawdown Indicators
| BENJ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.39% | -56.78% | +56.39% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -9.10% | +9.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.03% | 0.00% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -0.02% | -10.70% | +10.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.14% | -2.13% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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