BENJ vs. SGOV

Last updated Jun 25, 2026

BENJ (Horizon Landmark ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both Ultrashort Bond funds. BENJ is actively managed, while SGOV is passively managed. Over the past year, BENJ returned 3.80% vs 3.92% for SGOV. At a 0.26 correlation, their price movements are largely independent. BENJ charges 0.40%/yr vs 0.09%/yr for SGOV.

Performance

BENJ vs. SGOV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Landmark ETF (BENJ) and iShares 0-3 Month Treasury Bond ETF (SGOV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BENJ having a 1.67% return and SGOV slightly higher at 1.72%.

BENJ

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.67%
• 6M: 1.75%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGOV

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.72%
• 6M: 1.79%
• 1Y: 3.92%
• 3Y*: 4.69%
• 5Y*: 3.58%
• 10Y*: —

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

BENJ vs. SGOV - Yearly Performance Comparison

	2026 (YTD)	2025
BENJ Horizon Landmark ETF	1.67%	3.72%
SGOV iShares 0-3 Month Treasury Bond ETF	1.72%	3.98%

Correlation

The correlation between BENJ and SGOV is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.26

Return for Risk

BENJ vs. SGOV — 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: 99
BENJ Sortino Ratio Rank: 98
BENJ Omega Ratio Rank: 99
BENJ Calmar Ratio Rank: 97
BENJ Martin Ratio Rank: 98

SGOV

SGOV Risk / Return Rank: 100
SGOV Sharpe Ratio Rank: 100
SGOV Sortino Ratio Rank: 100
SGOV Omega Ratio Rank: 100
SGOV Calmar Ratio Rank: 100
SGOV Martin Ratio Rank: 100

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. SGOV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Landmark ETF (BENJ) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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.

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	SGOV	Difference
Sharpe ratio: Return per unit of total volatility	5.66	20.32	-14.66
Sortino ratio: Return per unit of downside risk	9.16	273.56	-264.40
Omega ratio: Gain probability vs. loss probability	4.86	194.05	-189.19
Calmar ratio: Return relative to maximum drawdown	9.77	395.07	-385.30
Martin ratio: Return relative to average drawdown	46.08	4,426.92	-4,380.85

BENJ vs. SGOV - Sharpe Ratio Comparison

The current BENJ Sharpe Ratio is 5.66, which is lower than the SGOV Sharpe Ratio of 20.32. The chart below compares the historical Sharpe Ratios of BENJ and SGOV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BENJ vs. SGOV - Drawdown Comparison

The maximum BENJ drawdown since its inception was -0.39%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for BENJ and SGOV.

Drawdown Indicators

	BENJ	SGOV	Difference
Max Drawdown Largest peak-to-trough decline	-0.39%	-0.03%	-0.36%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-0.01%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.03%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.00%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	0.00%	+0.08%

Volatility

BENJ vs. SGOV - Volatility Comparison

Horizon Landmark ETF (BENJ) has a higher volatility of 0.10% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.04%. This indicates that BENJ's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BENJ	SGOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	0.04%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	0.24%	0.13%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	0.67%	0.19%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.60%	0.24%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.60%	0.24%	+0.36%

BENJ vs. SGOV - Expense Ratio Comparison

BENJ has a 0.40% expense ratio, which is higher than SGOV's 0.09% expense ratio.

Dividends

BENJ vs. SGOV - Dividend Comparison

BENJ has not paid dividends to shareholders, while SGOV's dividend yield for the trailing twelve months is around 3.85%.

Position	TTM	2025	2024	2023	2022	2021	2020
BENJ Horizon Landmark ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGOV iShares 0-3 Month Treasury Bond ETF	3.85%	4.10%	5.10%	4.87%	1.45%	0.03%	0.05%

Frequently Asked Questions

Can I hold both BENJ and SGOV in my portfolio?

BENJ and SGOV have a correlation of 0.28, 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 SGOV?

BENJ has higher volatility (0.10%) compared to SGOV (0.04%). In terms of maximum drawdown, BENJ dropped -0.39% vs SGOV's -0.03%.

Which ETF is better, BENJ or SGOV?

On 1-year performance, SGOV leads with 3.92% vs 3.80% for BENJ. On fees, SGOV is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BENJ or SGOV?

Over the 1-year period, SGOV has performed better with a 3.92% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BENJ or SGOV?

SGOV is cheaper with a 0.09% expense ratio, compared with 0.40% for BENJ.

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

SGOV has the higher dividend yield at 3.85%, compared with 0.00% for BENJ.

What is the main difference between BENJ and SGOV?

They also come from different issuers: Horizon and iShares. Their fees differ too: 0.40% for BENJ and 0.09% for SGOV.

Which has better risk-adjusted returns?

SGOV currently has the higher Sharpe Ratio (20.32 vs 5.66), 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.