BENJ vs. VRIG

Last updated Jun 26, 2026

BENJ (Horizon Landmark ETF) and VRIG (Invesco Variable Rate Investment Grade ETF) are both Ultrashort Bond funds. Both are actively managed. Over the past year, BENJ returned 3.87% vs 4.88% for VRIG. At a 0.06 correlation, their price movements are largely independent. BENJ charges 0.40%/yr vs 0.30%/yr for VRIG.

Performance

BENJ vs. VRIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Landmark ETF (BENJ) and Invesco Variable Rate Investment Grade ETF (VRIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BENJ achieves a 1.73% return, which is significantly lower than VRIG's 2.10% return.

BENJ

• 1D: 0.06%
• 1M: 0.34%
• YTD: 1.73%
• 6M: 1.81%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VRIG

• 1D: -0.04%
• 1M: 0.39%
• YTD: 2.10%
• 6M: 2.20%
• 1Y: 4.88%
• 3Y*: 5.92%
• 5Y*: 4.48%
• 10Y*: —

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

BENJ vs. VRIG - Yearly Performance Comparison

	2026 (YTD)	2025
BENJ Horizon Landmark ETF	1.73%	3.72%
VRIG Invesco Variable Rate Investment Grade ETF	2.10%	4.70%

Correlation

The correlation between BENJ and VRIG 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 Jan 23, 2025	0.06

The correlation between BENJ and VRIG shifts across timeframes, from -0.04 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BENJ vs. VRIG — 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

VRIG

VRIG Risk / Return Rank: 99
VRIG Sharpe Ratio Rank: 99
VRIG Sortino Ratio Rank: 99
VRIG Omega Ratio Rank: 99
VRIG Calmar Ratio Rank: 100
VRIG Martin Ratio Rank: 99

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. VRIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Landmark ETF (BENJ) and Invesco Variable Rate Investment Grade ETF (VRIG). 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	VRIG	Difference
Sharpe ratio: Return per unit of total volatility	5.76	9.89	-4.12
Sortino ratio: Return per unit of downside risk	9.35	23.58	-14.23
Omega ratio: Gain probability vs. loss probability	4.98	5.14	-0.15
Calmar ratio: Return relative to maximum drawdown	9.96	61.34	-51.37
Martin ratio: Return relative to average drawdown	47.01	310.41	-263.40

BENJ vs. VRIG - Sharpe Ratio Comparison

The current BENJ Sharpe Ratio is 5.76, which is lower than the VRIG Sharpe Ratio of 9.89. The chart below compares the historical Sharpe Ratios of BENJ and VRIG, 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. VRIG - Drawdown Comparison

The maximum BENJ drawdown since its inception was -0.39%, smaller than the maximum VRIG drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for BENJ and VRIG.

Drawdown Indicators

	BENJ	VRIG	Difference
Max Drawdown Largest peak-to-trough decline	-0.39%	-13.04%	+12.65%
Max Drawdown (1Y) Largest decline over 1 year	-0.39%	-0.08%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.28%	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.02%	-0.27%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.08%	0.02%	+0.06%

Volatility

BENJ vs. VRIG - Volatility Comparison

The current volatility for Horizon Landmark ETF (BENJ) is 0.12%, while Invesco Variable Rate Investment Grade ETF (VRIG) has a volatility of 0.13%. This indicates that BENJ experiences smaller price fluctuations and is considered to be less risky than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BENJ	VRIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	0.13%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.25%	0.36%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	0.68%	0.50%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.60%	1.29%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.60%	3.79%	-3.19%

BENJ vs. VRIG - Expense Ratio Comparison

BENJ has a 0.40% expense ratio, which is higher than VRIG's 0.30% expense ratio.

Dividends

BENJ vs. VRIG - Dividend Comparison

BENJ has not paid dividends to shareholders, while VRIG's dividend yield for the trailing twelve months is around 4.71%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BENJ Horizon Landmark ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VRIG Invesco Variable Rate Investment Grade ETF	4.71%	4.99%	6.09%	5.97%	2.39%	0.78%	1.57%	3.12%	2.89%	2.31%	0.60%

Frequently Asked Questions

Can I hold both BENJ and VRIG in my portfolio?

BENJ and VRIG 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 VRIG?

VRIG has higher volatility (0.13%) compared to BENJ (0.12%). In terms of maximum drawdown, BENJ dropped -0.39% vs VRIG's -13.04%.

Which ETF is better, BENJ or VRIG?

On 1-year performance, VRIG leads with 4.88% vs 3.87% for BENJ. On fees, VRIG is cheaper at 0.30% 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 VRIG?

Over the 1-year period, VRIG has performed better with a 4.88% return vs 3.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BENJ or VRIG?

VRIG is cheaper with a 0.30% expense ratio, compared with 0.40% for BENJ.

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

VRIG has the higher dividend yield at 4.71%, compared with 0.00% for BENJ.

What is the main difference between BENJ and VRIG?

They also come from different issuers: Horizon and Invesco. Their fees differ too: 0.40% for BENJ and 0.30% for VRIG.

Which has better risk-adjusted returns?

VRIG currently has the higher Sharpe Ratio (9.89 vs 5.76), 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.