FLXN vs. BNDY

Last updated Jun 5, 2026

FLXN (Horizon Flexible Income ETF) and BNDY (Horizon Core Bond ETF) are both exchange-traded funds - FLXN is a High Yield Bonds fund actively managed by Horizon, while BNDY is a Intermediate Core Bond fund actively managed by Horizon. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. FLXN charges 0.82%/yr vs 0.66%/yr for BNDY.

Performance

FLXN vs. BNDY - Performance Comparison

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

Returns By Period

In the year-to-date period, FLXN achieves a 2.50% return, which is significantly higher than BNDY's 1.19% return.

FLXN

• 1D: 0.20%
• 1M: 0.60%
• YTD: 2.50%
• 6M: 2.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDY

• 1D: 0.32%
• 1M: 0.61%
• YTD: 1.19%
• 6M: 1.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLXN vs. BNDY - Yearly Performance Comparison

	2026 (YTD)	2025
FLXN Horizon Flexible Income ETF	2.50%	4.71%
BNDY Horizon Core Bond ETF	1.19%	5.34%

Correlation

The correlation between FLXN and BNDY is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025	0.65

Return for Risk

FLXN vs. BNDY - Risk-Adjusted Trends Comparison

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

	FLXN	BNDY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.44	+0.15

Drawdowns

FLXN vs. BNDY - Drawdown Comparison

The maximum FLXN drawdown since its inception was -3.39%, smaller than the maximum BNDY drawdown of -3.93%. Use the drawdown chart below to compare losses from any high point for FLXN and BNDY.

Drawdown Indicators

	FLXN	BNDY	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-3.93%	+0.54%
Current Drawdown Current decline from peak	-0.14%	-0.84%	+0.70%
Average Drawdown Average peak-to-trough decline	-0.38%	-0.63%	+0.25%

Volatility

Volatility by Period

	FLXN	BNDY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	5.01%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.04%	5.01%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.04%	5.01%	+0.03%

FLXN vs. BNDY - Expense Ratio Comparison

FLXN has a 0.82% expense ratio, which is higher than BNDY's 0.66% expense ratio.

Dividends

FLXN vs. BNDY - Dividend Comparison

FLXN's dividend yield for the trailing twelve months is around 7.49%, more than BNDY's 4.82% yield.

Position	TTM	2025
BNDY Horizon Core Bond ETF	4.82%	1.89%
FLXN Horizon Flexible Income ETF	7.49%	3.49%

Frequently Asked Questions

Can I hold both FLXN and BNDY in my portfolio?

FLXN and BNDY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLXN or BNDY?

On fees, BNDY is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXN or BNDY?

BNDY is cheaper with a 0.66% expense ratio, compared with 0.82% for FLXN.

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

FLXN has the higher dividend yield at 7.49%, compared with 4.82% for BNDY.

What is the main difference between FLXN and BNDY?

FLXN is categorized as High Yield Bonds, while BNDY is Intermediate Core Bond. Their fees differ too: 0.82% for FLXN and 0.66% for BNDY.