FLXN vs. HYSD

Last updated Jul 29, 2026

FLXN (Horizon Flexible Income ETF) and HYSD (Columbia Short Duration High Yield ETF) are both High Yield Bonds funds. Both are actively managed. Over the past year, FLXN returned 7.28% vs 4.86% for HYSD. Their correlation of 0.82 means they have usually moved in the same direction. FLXN charges 0.82%/yr vs 0.44%/yr for HYSD.

Performance

FLXN vs. HYSD - Performance Comparison

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

Returns By Period

In the year-to-date period, FLXN achieves a 2.74% return, which is significantly higher than HYSD's 1.72% return.

FLXN

• 1D: 0.18%
• 1M: 0.08%
• 6M: 1.62%
• YTD: 2.74%
• 1Y: 7.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.08%

HYSD

• 1D: -0.07%
• 1M: -0.33%
• 6M: 1.12%
• YTD: 1.72%
• 1Y: 4.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.48%

*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)
FLXN Horizon Flexible Income ETF	$153.76K	$129.72K	$280.31K
HYSD Columbia Short Duration High Yield ETF	$157.14K	$166.89K	$124.05K

FLXN vs. HYSD - Yearly Performance Comparison

	2026 (YTD)	2025
FLXN Horizon Flexible Income ETF	2.74%	4.71%
HYSD Columbia Short Duration High Yield ETF	1.72%	3.09%

Correlation

The correlation between FLXN and HYSD is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025	0.82

The correlation between FLXN and HYSD has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

FLXN vs. HYSD — Risk / Return Rank

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

FLXN

FLXN Risk / Return Rank: 68
FLXN Sharpe Ratio Rank: 63
FLXN Sortino Ratio Rank: 68
FLXN Omega Ratio Rank: 70
FLXN Calmar Ratio Rank: 62
FLXN Martin Ratio Rank: 80

HYSD

HYSD Risk / Return Rank: 84
HYSD Sharpe Ratio Rank: 77
HYSD Sortino Ratio Rank: 83
HYSD Omega Ratio Rank: 82
HYSD Calmar Ratio Rank: 86
HYSD Martin Ratio Rank: 90

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.

FLXN vs. HYSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and Columbia Short Duration High Yield ETF (HYSD). 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	HYSD	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.75	-0.29
Sortino ratio: Return per unit of downside risk	2.21	2.73	-0.51
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.05
Calmar ratio: Return relative to maximum drawdown	2.16	3.35	-1.19
Martin ratio: Return relative to average drawdown	10.45	14.49	-4.04

FLXN vs. HYSD - Sharpe Ratio Comparison

The current FLXN Sharpe Ratio is 1.46, which is comparable to the HYSD Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of FLXN and HYSD, 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. HYSD - Drawdown Comparison

The maximum FLXN drawdown since its inception was -3.39%, which is greater than HYSD's maximum drawdown of -2.69%. Use the drawdown chart below to compare losses from any high point for FLXN and HYSD.

Drawdown Indicators

	FLXN	HYSD	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-2.69%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-1.46%	-1.93%
Current Drawdown Current decline from peak	-0.68%	-0.64%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.37%	-0.25%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.70%	0.34%	+0.36%

Volatility

FLXN vs. HYSD - Volatility Comparison

Horizon Flexible Income ETF (FLXN) has a higher volatility of 0.88% compared to Columbia Short Duration High Yield ETF (HYSD) at 0.47%. This indicates that FLXN's price experiences larger fluctuations and is considered to be riskier than HYSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXN	HYSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.47%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	2.23%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	5.00%	2.79%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.91%	3.43%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.91%	3.43%	+1.48%

FLXN vs. HYSD - Expense Ratio Comparison

FLXN has a 0.82% expense ratio, which is higher than HYSD's 0.44% expense ratio.

Dividends

FLXN vs. HYSD - Dividend Comparison

FLXN's dividend yield for the trailing twelve months is around 9.32%, more than HYSD's 5.85% yield.

Position	TTM	2025	2024
FLXN Horizon Flexible Income ETF	9.32%	3.49%	0.00%
HYSD Columbia Short Duration High Yield ETF	5.85%	5.60%	1.82%

Frequently Asked Questions

Can I hold both FLXN and HYSD in my portfolio?

FLXN and HYSD have a correlation of 0.83, 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 HYSD?

FLXN has higher volatility (0.88%) compared to HYSD (0.47%). In terms of maximum drawdown, FLXN dropped -3.39% vs HYSD's -2.69%.

Which ETF is better, FLXN or HYSD?

On 1-year performance, FLXN leads with 7.28% vs 4.86% for HYSD. On fees, HYSD is cheaper at 0.44% per year. On volatility, HYSD has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLXN or HYSD?

Over the 1-year period, FLXN has performed better with a 7.28% return vs 4.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLXN or HYSD?

HYSD is cheaper with a 0.44% expense ratio, compared with 0.82% for FLXN.

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

FLXN has the higher dividend yield at 9.32%, compared with 5.85% for HYSD.

What is the main difference between FLXN and HYSD?

They also come from different issuers: Horizon and Columbia. Their fees differ too: 0.82% for FLXN and 0.44% for HYSD.

Which has better risk-adjusted returns?

HYSD currently has the higher Sharpe Ratio (1.75 vs 1.46), 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.