FLXN vs. BENJ

Last updated Aug 2, 2026

FLXN (Horizon Flexible Income ETF) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - FLXN is a High Yield Bonds fund actively managed by Horizon, while BENJ is a Ultrashort Bond fund actively managed by Horizon. Both are actively managed. Over the past year, FLXN returned 7.87% vs 3.85% for BENJ. Their -0.02 correlation means they have often moved in opposite directions in the past. FLXN charges 0.82%/yr vs 0.40%/yr for BENJ.

Performance

FLXN vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Flexible Income ETF (FLXN) and Horizon Landmark ETF (BENJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLXN achieves a 3.03% return, which is significantly higher than BENJ's 2.15% return.

FLXN

• 1D: 0.08%
• 1M: -0.15%
• 6M: 2.07%
• YTD: 3.03%
• 1Y: 7.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.31%

BENJ

• 1D: 0.10%
• 1M: 0.40%
• 6M: 1.85%
• YTD: 2.15%
• 1Y: 3.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.88%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BENJ Horizon Landmark ETF	$6.92M	$4.81M	$2.38M
FLXN Horizon Flexible Income ETF	$3.09M	$1.53M	$752.45K

FLXN vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
FLXN Horizon Flexible Income ETF	3.03%	4.71%
BENJ Horizon Landmark ETF	2.15%	2.00%

Correlation

The correlation between FLXN and BENJ is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.02
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025	-0.02

Return for Risk

FLXN vs. BENJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLXN

FLXN Risk / Return Rank: 70
FLXN Sharpe Ratio Rank: 64
FLXN Sortino Ratio Rank: 69
FLXN Omega Ratio Rank: 71
FLXN Calmar Ratio Rank: 64
FLXN Martin Ratio Rank: 81

BENJ

BENJ Risk / Return Rank: 99
BENJ Sharpe Ratio Rank: 99
BENJ Sortino Ratio Rank: 98
BENJ Omega Ratio Rank: 99
BENJ Calmar Ratio Rank: 100
BENJ Martin Ratio Rank: 100

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLXN vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and Horizon Landmark ETF (BENJ). 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.

	FLXN	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	1.50	6.58	-5.07
Sortino ratio: Return per unit of downside risk	2.28	8.22	-5.93
Omega ratio: Gain probability vs. loss probability	1.30	4.27	-2.97
Calmar ratio: Return relative to maximum drawdown	2.25	59.16	-56.91
Martin ratio: Return relative to average drawdown	10.82	341.86	-331.04

FLXN vs. BENJ - Sharpe Ratio Comparison

The current FLXN Sharpe Ratio is 1.50, which is lower than the BENJ Sharpe Ratio of 6.58. The chart below compares the historical Sharpe Ratios of FLXN and BENJ, 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

FLXN vs. BENJ - Drawdown Comparison

The maximum FLXN drawdown since its inception was -3.39%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for FLXN and BENJ.

Drawdown Indicators

	FLXN	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-0.39%	-3.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-0.06%	-3.33%
Current Drawdown Current decline from peak	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.02%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.08%	+0.62%

Volatility

FLXN vs. BENJ - Volatility Comparison

Horizon Flexible Income ETF (FLXN) has a higher volatility of 1.19% compared to Horizon Landmark ETF (BENJ) at 0.12%. This indicates that FLXN's price experiences larger fluctuations and is considered to be riskier than BENJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXN	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	0.12%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	4.06%	0.27%	+3.79%
Volatility (1Y) Calculated over the trailing 1-year period	5.07%	0.68%	+4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	0.59%	+4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	0.59%	+4.35%

FLXN vs. BENJ - Expense Ratio Comparison

FLXN has a 0.82% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

FLXN vs. BENJ - Dividend Comparison

FLXN's dividend yield for the trailing twelve months is around 9.29%, while BENJ has not paid dividends to shareholders.

Position	TTM	2025
BENJ Horizon Landmark ETF	0.00%	0.00%
FLXN Horizon Flexible Income ETF	9.29%	3.49%

Frequently Asked Questions

Can I hold both FLXN and BENJ in my portfolio?

FLXN and BENJ have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLXN or BENJ?

FLXN has higher volatility (1.19%) compared to BENJ (0.12%). In terms of maximum drawdown, FLXN dropped -3.39% vs BENJ's -0.39%.

Which ETF is better, FLXN or BENJ?

On 1-year performance, FLXN leads with 7.87% vs 3.85% for BENJ. On fees, BENJ is cheaper at 0.40% per year. On volatility, BENJ has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLXN or BENJ?

Over the 1-year period, FLXN has performed better with a 7.87% return vs 3.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLXN or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.82% for FLXN.

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

FLXN has the higher dividend yield at 9.29%, compared with 0.00% for BENJ.

What is the main difference between FLXN and BENJ?

FLXN is categorized as High Yield Bonds, while BENJ is Ultrashort Bond. Their fees differ too: 0.82% for FLXN and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (6.58 vs 1.50), 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.