FLXN vs. MHY
FLXN (Horizon Flexible Income ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined. FLXN charges 0.82%/yr vs 0.69%/yr for MHY.
Performance
FLXN vs. MHY - Performance Comparison
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Returns By Period
In the year-to-date period, FLXN achieves a 3.25% return, which is significantly lower than MHY's 5.18% return.
FLXN
- 1D
- -0.14%
- 1M
- 1.35%
- 6M
- 2.73%
- YTD
- 3.25%
- 1Y
- 8.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- 0.23%
- 1M
- 2.28%
- 6M
- 4.82%
- YTD
- 5.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLXN vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FLXN Horizon Flexible Income ETF | 3.25% | 2.09% |
MHY Man Active High Yield ETF | 5.18% | 1.54% |
Correlation
The correlation between FLXN and MHY is 0.74, 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 Sep 18, 2025 | 0.74 |
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Return for Risk
FLXN vs. MHY — Risk / Return Rank
FLXN
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FLXN vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | — | — |
| Martin ratioReturn relative to average drawdown | 12.39 | — | — |
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Drawdowns
FLXN vs. MHY - Drawdown Comparison
The maximum FLXN drawdown since its inception was -3.39%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for FLXN and MHY.
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Drawdown Indicators
| FLXN | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.39% | -1.58% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | 0.00% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -0.28% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | — | — |
Volatility
FLXN vs. MHY - Volatility Comparison
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Volatility by Period
| FLXN | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.96% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 2.96% | +2.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.99% | 2.96% | +2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 2.96% | +2.03% |
FLXN vs. MHY - Expense Ratio Comparison
FLXN has a 0.82% expense ratio, which is higher than MHY's 0.69% expense ratio.
Dividends
FLXN vs. MHY - Dividend Comparison
FLXN's dividend yield for the trailing twelve months is around 8.40%, more than MHY's 5.25% yield.
| Position | TTM | 2025 |
|---|---|---|
FLXN Horizon Flexible Income ETF | 8.40% | 3.49% |
MHY Man Active High Yield ETF | 5.25% | 3.42% |
Frequently Asked Questions
FLXN and MHY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MHY is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MHY is cheaper with a 0.69% expense ratio, compared with 0.82% for FLXN.
FLXN has the higher dividend yield at 8.40%, compared with 5.25% for MHY.
They also come from different issuers: Horizon and Man Group. Their fees differ too: 0.82% for FLXN and 0.69% for MHY.
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