FLXN vs. IBHG
FLXN (Horizon Flexible Income ETF) and IBHG (iShares iBonds 2027 Term High Yield and Income ETF) are both High Yield Bonds funds. FLXN is actively managed, while IBHG is passively managed. Over the past year, FLXN returned 8.51% vs 4.18% for IBHG. A 0.72 correlation means they provide meaningful diversification when combined. FLXN charges 0.82%/yr vs 0.35%/yr for IBHG.
Performance
FLXN vs. IBHG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FLXN achieves a 3.25% return, which is significantly higher than IBHG's 1.33% return.
FLXN
- 1D
- -0.14%
- 1M
- 1.35%
- 6M
- 2.73%
- YTD
- 3.25%
- 1Y
- 8.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBHG
- 1D
- -0.09%
- 1M
- 0.33%
- 6M
- 1.28%
- YTD
- 1.33%
- 1Y
- 4.18%
- 3Y*
- 7.59%
- 5Y*
- 3.58%
- 10Y*
- —
FLXN vs. IBHG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLXN Horizon Flexible Income ETF | 3.25% | 4.71% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 1.33% | 2.65% |
Correlation
The correlation between FLXN and IBHG is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025 | 0.72 |
The correlation between FLXN and IBHG has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FLXN vs. IBHG — Risk / Return Rank
FLXN
IBHG
FLXN vs. IBHG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and iShares iBonds 2027 Term High Yield and Income ETF (IBHG). 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 | IBHG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.39 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 5.78 | -3.26 |
| Martin ratioReturn relative to average drawdown | 12.39 | 21.07 | -8.68 |
Loading charts...
Drawdowns
FLXN vs. IBHG - Drawdown Comparison
The maximum FLXN drawdown since its inception was -3.39%, smaller than the maximum IBHG drawdown of -13.85%. Use the drawdown chart below to compare losses from any high point for FLXN and IBHG.
Loading charts...
Drawdown Indicators
| FLXN | IBHG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.39% | -13.85% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -0.73% | -2.66% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.85% | — |
Current DrawdownCurrent decline from peak | -0.14% | -0.16% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -2.62% | +2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.20% | +0.49% |
Volatility
FLXN vs. IBHG - Volatility Comparison
Horizon Flexible Income ETF (FLXN) has a higher volatility of 1.35% compared to iShares iBonds 2027 Term High Yield and Income ETF (IBHG) at 0.35%. This indicates that FLXN's price experiences larger fluctuations and is considered to be riskier than IBHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FLXN | IBHG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.35% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | 1.49% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 2.04% | +2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.99% | 6.31% | -1.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 6.31% | -1.32% |
FLXN vs. IBHG - Expense Ratio Comparison
FLXN has a 0.82% expense ratio, which is higher than IBHG's 0.35% expense ratio.
Dividends
FLXN vs. IBHG - Dividend Comparison
FLXN's dividend yield for the trailing twelve months is around 8.40%, more than IBHG's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FLXN Horizon Flexible Income ETF | 8.40% | 3.49% | 0.00% | 0.00% | 0.00% | 0.00% |
IBHG iShares iBonds 2027 Term High Yield and Income ETF | 6.04% | 6.33% | 7.02% | 6.66% | 5.62% | 2.13% |
Frequently Asked Questions
FLXN and IBHG have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLXN has higher volatility (1.35%) compared to IBHG (0.35%). In terms of maximum drawdown, FLXN dropped -3.39% vs IBHG's -13.85%.
On 1-year performance, FLXN leads with 8.51% vs 4.18% for IBHG. On fees, IBHG is cheaper at 0.35% per year. On volatility, IBHG has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FLXN has performed better with a 8.51% return vs 4.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHG is cheaper with a 0.35% expense ratio, compared with 0.82% for FLXN.
FLXN has the higher dividend yield at 8.40%, compared with 6.04% for IBHG.
They also come from different issuers: Horizon and iShares. Their fees differ too: 0.82% for FLXN and 0.35% for IBHG.
IBHG currently has the higher Sharpe Ratio (2.06 vs 1.71), 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.
Find the right allocation for FLXN and IBHG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer