BNDY vs. BFIX

Last updated Jun 4, 2026

BNDY (Horizon Core Bond ETF) and BFIX (Build Bond Innovation ETF) are both Intermediate Core Bond funds. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. BNDY charges 0.66%/yr vs 0.45%/yr for BFIX.

Performance

BNDY vs. BFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Core Bond ETF (BNDY) and Build Bond Innovation ETF (BFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDY achieves a 0.87% return, which is significantly lower than BFIX's 1.27% return.

BNDY

• 1D: -0.21%
• 1M: 0.53%
• YTD: 0.87%
• 6M: 1.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BFIX

• 1D: -0.08%
• 1M: 0.15%
• YTD: 1.27%
• 6M: 1.32%
• 1Y: 4.80%
• 3Y*: 7.75%
• 5Y*: —
• 10Y*: —

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

BNDY vs. BFIX - Yearly Performance Comparison

	2026 (YTD)	2025
BNDY Horizon Core Bond ETF	0.87%	5.34%
BFIX Build Bond Innovation ETF	1.27%	2.77%

Correlation

The correlation between BNDY and BFIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025	0.43

Return for Risk

BNDY vs. BFIX — Risk / Return Rank

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

BFIX

BFIX Risk / Return Rank: 61
BFIX Sharpe Ratio Rank: 48
BFIX Sortino Ratio Rank: 53
BFIX Omega Ratio Rank: 51
BFIX Calmar Ratio Rank: 88
BFIX Martin Ratio Rank: 67

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.

BNDY vs. BFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Bond ETF (BNDY) and Build Bond Innovation ETF (BFIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BNDY	BFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.85	+0.53

Drawdowns

BNDY vs. BFIX - Drawdown Comparison

The maximum BNDY drawdown since its inception was -3.93%, smaller than the maximum BFIX drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for BNDY and BFIX.

Drawdown Indicators

	BNDY	BFIX	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-8.03%	+4.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.94%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.05%	—
Current Drawdown Current decline from peak	-1.16%	-0.40%	-0.76%
Average Drawdown Average peak-to-trough decline	-0.62%	-2.76%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.39%	—

Volatility

Volatility by Period

	BNDY	BFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.89%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.01%	2.90%	+2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.01%	4.77%	+0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.01%	4.77%	+0.24%

BNDY vs. BFIX - Expense Ratio Comparison

BNDY has a 0.66% expense ratio, which is higher than BFIX's 0.45% expense ratio.

Dividends

BNDY vs. BFIX - Dividend Comparison

BNDY's dividend yield for the trailing twelve months is around 4.83%, more than BFIX's 3.52% yield.

Position	TTM	2025	2024	2023	2022
BFIX Build Bond Innovation ETF	3.52%	3.73%	4.38%	4.30%	1.58%
BNDY Horizon Core Bond ETF	4.83%	1.89%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDY and BFIX in my portfolio?

BNDY and BFIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNDY or BFIX?

On fees, BFIX is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNDY or BFIX?

BFIX is cheaper with a 0.45% expense ratio, compared with 0.66% for BNDY.

Which ETF pays a higher dividend yield, BNDY or BFIX?

BNDY has the higher dividend yield at 4.83%, compared with 3.52% for BFIX.

What is the main difference between BNDY and BFIX?

They also come from different issuers: Horizon and Build. Their fees differ too: 0.66% for BNDY and 0.45% for BFIX.