FLXN vs. DIVN

Last updated Jun 5, 2026

FLXN (Horizon Flexible Income ETF) and DIVN (Horizon Dividend Income ETF) are both exchange-traded funds - FLXN is a High Yield Bonds fund actively managed by Horizon, while DIVN is a Large Cap Value Equities fund managed by Horizon. At a 0.46 correlation, their price movements are largely independent. FLXN charges 0.82%/yr vs 0.70%/yr for DIVN.

Performance

FLXN vs. DIVN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Flexible Income ETF (FLXN) and Horizon Dividend Income ETF (DIVN). 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 lower than DIVN's 12.28% return.

FLXN

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

DIVN

• 1D: 0.37%
• 1M: 2.86%
• YTD: 12.28%
• 6M: 12.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLXN vs. DIVN - Yearly Performance Comparison

	2026 (YTD)	2025
FLXN Horizon Flexible Income ETF	2.50%	4.71%
DIVN Horizon Dividend Income ETF	12.28%	4.89%

Correlation

The correlation between FLXN and DIVN is 0.46, 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	0.46

Return for Risk

FLXN vs. DIVN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and Horizon Dividend Income ETF (DIVN). 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	DIVN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	2.17	-0.57

Drawdowns

FLXN vs. DIVN - Drawdown Comparison

The maximum FLXN drawdown since its inception was -3.39%, smaller than the maximum DIVN drawdown of -5.55%. Use the drawdown chart below to compare losses from any high point for FLXN and DIVN.

Drawdown Indicators

	FLXN	DIVN	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-5.55%	+2.16%
Current Drawdown Current decline from peak	-0.14%	-0.26%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.38%	-1.44%	+1.06%

Volatility

Volatility by Period

	FLXN	DIVN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	10.54%	-5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.04%	10.54%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.04%	10.54%	-5.50%

FLXN vs. DIVN - Expense Ratio Comparison

FLXN has a 0.82% expense ratio, which is higher than DIVN's 0.70% expense ratio.

Dividends

FLXN vs. DIVN - Dividend Comparison

FLXN's dividend yield for the trailing twelve months is around 7.49%, more than DIVN's 3.11% yield.

Position	TTM	2025
DIVN Horizon Dividend Income ETF	3.11%	1.47%
FLXN Horizon Flexible Income ETF	7.49%	3.49%

Frequently Asked Questions

Can I hold both FLXN and DIVN in my portfolio?

FLXN and DIVN have a correlation of 0.46, 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 DIVN?

On fees, DIVN is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXN or DIVN?

DIVN is cheaper with a 0.70% expense ratio, compared with 0.82% for FLXN.

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

FLXN has the higher dividend yield at 7.49%, compared with 3.11% for DIVN.

What is the main difference between FLXN and DIVN?

FLXN is categorized as High Yield Bonds, while DIVN is Large Cap Value Equities. Their fees differ too: 0.82% for FLXN and 0.70% for DIVN.