FLXN vs. YLD

Last updated Jun 5, 2026

FLXN (Horizon Flexible Income ETF) and YLD (Principal Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. FLXN charges 0.82%/yr vs 0.39%/yr for YLD.

Performance

FLXN vs. YLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Flexible Income ETF (FLXN) and Principal Active High Yield ETF (YLD). 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 YLD's 2.97% return.

FLXN

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

YLD

• 1D: 0.13%
• 1M: 0.39%
• YTD: 2.97%
• 6M: 3.53%
• 1Y: 7.28%
• 3Y*: 8.69%
• 5Y*: 4.77%
• 10Y*: 5.73%

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

FLXN vs. YLD - Yearly Performance Comparison

	2026 (YTD)	2025
FLXN Horizon Flexible Income ETF	2.50%	4.71%
YLD Principal Active High Yield ETF	2.97%	2.43%

Correlation

The correlation between FLXN and YLD is 0.75, 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	0.75

Return for Risk

FLXN vs. YLD — Risk / Return Rank

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

YLD

YLD Risk / Return Rank: 60
YLD Sharpe Ratio Rank: 50
YLD Sortino Ratio Rank: 53
YLD Omega Ratio Rank: 51
YLD Calmar Ratio Rank: 74
YLD Martin Ratio Rank: 70

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. YLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Flexible Income ETF (FLXN) and Principal Active High Yield ETF (YLD). 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	YLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.69	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.65	+0.95

Drawdowns

FLXN vs. YLD - Drawdown Comparison

The maximum FLXN drawdown since its inception was -3.39%, smaller than the maximum YLD drawdown of -28.34%. Use the drawdown chart below to compare losses from any high point for FLXN and YLD.

Drawdown Indicators

	FLXN	YLD	Difference
Max Drawdown Largest peak-to-trough decline	-3.39%	-28.34%	+24.95%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.98%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.62%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.34%	—
Current Drawdown Current decline from peak	-0.14%	-0.24%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.38%	-2.70%	+2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.57%	—

Volatility

Volatility by Period

	FLXN	YLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.50%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	4.34%	+0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.04%	6.39%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.04%	8.21%	-3.17%

FLXN vs. YLD - Expense Ratio Comparison

FLXN has a 0.82% expense ratio, which is higher than YLD's 0.39% expense ratio.

Dividends

FLXN vs. YLD - Dividend Comparison

FLXN's dividend yield for the trailing twelve months is around 7.49%, more than YLD's 7.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLXN Horizon Flexible Income ETF	7.49%	3.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YLD Principal Active High Yield ETF	7.26%	7.33%	7.12%	6.46%	6.51%	3.92%	4.40%	4.81%	5.42%	6.28%	4.47%	2.56%

Frequently Asked Questions

Can I hold both FLXN and YLD in my portfolio?

FLXN and YLD have a correlation of 0.75, 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 YLD?

On fees, YLD is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXN or YLD?

YLD is cheaper with a 0.39% expense ratio, compared with 0.82% for FLXN.

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

FLXN has the higher dividend yield at 7.49%, compared with 7.26% for YLD.

What is the main difference between FLXN and YLD?

They also come from different issuers: Horizon and Principal. Their fees differ too: 0.82% for FLXN and 0.39% for YLD.