BENJ vs. HWSM

Last updated Jun 5, 2026

BENJ (Horizon Landmark ETF) and HWSM (Hotchkis & Wiley SMID Cap Diversified Value ETF) are both exchange-traded funds - BENJ is a Ultrashort Bond fund actively managed by Horizon, while HWSM is a Mid Cap Value Equities fund actively managed by Hotchkis & Wiley. Both are actively managed. Over the past year, BENJ returned 3.78% vs 26.16% for HWSM. At a correlation of -0.02, they often move in opposite directions. BENJ charges 0.40%/yr vs 0.55%/yr for HWSM.

Performance

BENJ vs. HWSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Landmark ETF (BENJ) and Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BENJ achieves a 1.46% return, which is significantly lower than HWSM's 10.77% return.

BENJ

• 1D: -0.01%
• 1M: 0.29%
• YTD: 1.46%
• 6M: 1.80%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HWSM

• 1D: 1.25%
• 1M: 4.08%
• YTD: 10.77%
• 6M: 12.03%
• 1Y: 26.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BENJ vs. HWSM - Yearly Performance Comparison

	2026 (YTD)	2025
BENJ Horizon Landmark ETF	1.46%	3.04%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	10.77%	11.54%

Correlation

The correlation between BENJ and HWSM is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025	-0.02

Return for Risk

BENJ vs. HWSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BENJ

BENJ Risk / Return Rank: 98
BENJ Sharpe Ratio Rank: 98
BENJ Sortino Ratio Rank: 98
BENJ Omega Ratio Rank: 99
BENJ Calmar Ratio Rank: 96
BENJ Martin Ratio Rank: 97

HWSM

HWSM Risk / Return Rank: 51
HWSM Sharpe Ratio Rank: 49
HWSM Sortino Ratio Rank: 53
HWSM Omega Ratio Rank: 48
HWSM Calmar Ratio Rank: 53
HWSM Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BENJ vs. HWSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Landmark ETF (BENJ) and Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BENJ	HWSM	Difference
Sharpe ratio: Return per unit of total volatility	5.65	1.68	+3.97
Sortino ratio: Return per unit of downside risk	9.14	2.51	+6.64
Omega ratio: Gain probability vs. loss probability	4.95	1.30	+3.65
Calmar ratio: Return relative to maximum drawdown	9.71	2.57	+7.14
Martin ratio: Return relative to average drawdown	45.83	8.61	+37.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BENJ vs. HWSM - Sharpe Ratio Comparison

The current BENJ Sharpe Ratio is 5.65, which is higher than the HWSM Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of BENJ and HWSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BENJ	HWSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.65	1.68	+3.97
Sharpe Ratio (All Time) Calculated using the full available price history	6.41	0.96	+5.45

Drawdowns

BENJ vs. HWSM - Drawdown Comparison

The maximum BENJ drawdown since its inception was -0.39%, smaller than the maximum HWSM drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for BENJ and HWSM.

Drawdown Indicators

	BENJ	HWSM	Difference
Max Drawdown Largest peak-to-trough decline	-0.39%	-15.67%	+15.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-10.23%	+9.84%
Current Drawdown Current decline from peak	-0.01%	0.00%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.02%	-2.76%	+2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	3.05%	-2.97%

Volatility

BENJ vs. HWSM - Volatility Comparison

The current volatility for Horizon Landmark ETF (BENJ) is 0.07%, while Hotchkis & Wiley SMID Cap Diversified Value ETF (HWSM) has a volatility of 3.68%. This indicates that BENJ experiences smaller price fluctuations and is considered to be less risky than HWSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BENJ	HWSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.07%	3.68%	-3.61%
Volatility (6M) Calculated over the trailing 6-month period	0.23%	10.45%	-10.22%
Volatility (1Y) Calculated over the trailing 1-year period	0.67%	15.64%	-14.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.60%	20.58%	-19.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.60%	20.58%	-19.98%

BENJ vs. HWSM - Expense Ratio Comparison

BENJ has a 0.40% expense ratio, which is lower than HWSM's 0.55% expense ratio.

Dividends

BENJ vs. HWSM - Dividend Comparison

BENJ has not paid dividends to shareholders, while HWSM's dividend yield for the trailing twelve months is around 1.20%.

Position	TTM	2025
BENJ Horizon Landmark ETF	0.00%	0.00%
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF	1.20%	1.33%

Frequently Asked Questions

Can I hold both BENJ and HWSM in my portfolio?

BENJ and HWSM have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BENJ or HWSM?

HWSM has higher volatility (3.68%) compared to BENJ (0.07%). In terms of maximum drawdown, BENJ dropped -0.39% vs HWSM's -15.67%.

Which ETF is better, BENJ or HWSM?

On 1-year performance, HWSM leads with 26.16% vs 3.78% for BENJ. On fees, BENJ is cheaper at 0.40% per year. On volatility, BENJ has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BENJ or HWSM?

Over the 1-year period, HWSM has performed better with a 26.16% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BENJ or HWSM?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.55% for HWSM.

Which ETF pays a higher dividend yield, BENJ or HWSM?

HWSM has the higher dividend yield at 1.20%, compared with 0.00% for BENJ.

What is the main difference between BENJ and HWSM?

BENJ is categorized as Ultrashort Bond, while HWSM is Mid Cap Value Equities. They also come from different issuers: Horizon and Hotchkis & Wiley. Their fees differ too: 0.40% for BENJ and 0.55% for HWSM.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.65 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.