LPRE vs. BENJ

Last updated Jun 25, 2026

LPRE (Long Pond Real Estate Select ETF) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - LPRE is a REIT fund actively managed by Long Pond, while BENJ is a Ultrashort Bond fund actively managed by Horizon. Both are actively managed. Over the past year, LPRE returned 20.16% vs 3.80% for BENJ. At a correlation of -0.07, they often move in opposite directions. LPRE charges 1.00%/yr vs 0.40%/yr for BENJ.

Performance

LPRE vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Long Pond Real Estate Select ETF (LPRE) and Horizon Landmark ETF (BENJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LPRE achieves a 13.49% return, which is significantly higher than BENJ's 1.67% return.

LPRE

• 1D: 1.19%
• 1M: 3.76%
• YTD: 13.49%
• 6M: 13.92%
• 1Y: 20.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BENJ

• 1D: 0.03%
• 1M: 0.29%
• YTD: 1.67%
• 6M: 1.75%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LPRE vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
LPRE Long Pond Real Estate Select ETF	13.49%	16.34%
BENJ Horizon Landmark ETF	1.67%	3.01%

Correlation

The correlation between LPRE and BENJ is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	-0.07

Return for Risk

LPRE vs. BENJ — Risk / Return Rank

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

LPRE

LPRE Risk / Return Rank: 43
LPRE Sharpe Ratio Rank: 42
LPRE Sortino Ratio Rank: 44
LPRE Omega Ratio Rank: 39
LPRE Calmar Ratio Rank: 45
LPRE Martin Ratio Rank: 46

BENJ

BENJ Risk / Return Rank: 98
BENJ Sharpe Ratio Rank: 99
BENJ Sortino Ratio Rank: 98
BENJ Omega Ratio Rank: 99
BENJ Calmar Ratio Rank: 97
BENJ Martin Ratio Rank: 98

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.

LPRE vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Long Pond Real Estate Select ETF (LPRE) and Horizon Landmark ETF (BENJ). 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.

	LPRE	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	1.31	5.66	-4.36
Sortino ratio: Return per unit of downside risk	1.97	9.16	-7.20
Omega ratio: Gain probability vs. loss probability	1.23	4.86	-3.63
Calmar ratio: Return relative to maximum drawdown	1.96	9.77	-7.81
Martin ratio: Return relative to average drawdown	6.73	46.08	-39.35

LPRE vs. BENJ - Sharpe Ratio Comparison

The current LPRE Sharpe Ratio is 1.31, which is lower than the BENJ Sharpe Ratio of 5.66. The chart below compares the historical Sharpe Ratios of LPRE and BENJ, 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

LPRE vs. BENJ - Drawdown Comparison

The maximum LPRE drawdown since its inception was -10.33%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for LPRE and BENJ.

Drawdown Indicators

	LPRE	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-10.33%	-0.39%	-9.94%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-0.39%	-9.94%
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.09%	-0.02%	-2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	0.08%	+2.93%

Volatility

LPRE vs. BENJ - Volatility Comparison

Long Pond Real Estate Select ETF (LPRE) has a higher volatility of 4.16% compared to Horizon Landmark ETF (BENJ) at 0.10%. This indicates that LPRE's price experiences larger fluctuations and is considered to be riskier than BENJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LPRE	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	0.10%	+4.06%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	0.24%	+10.83%
Volatility (1Y) Calculated over the trailing 1-year period	15.52%	0.67%	+14.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	0.60%	+17.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	0.60%	+17.44%

LPRE vs. BENJ - Expense Ratio Comparison

LPRE has a 1.00% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

LPRE vs. BENJ - Dividend Comparison

LPRE's dividend yield for the trailing twelve months is around 1.12%, while BENJ has not paid dividends to shareholders.

Position	TTM	2025
BENJ Horizon Landmark ETF	0.00%	0.00%
LPRE Long Pond Real Estate Select ETF	1.12%	0.93%

Frequently Asked Questions

Can I hold both LPRE and BENJ in my portfolio?

LPRE and BENJ have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LPRE or BENJ?

LPRE has higher volatility (4.16%) compared to BENJ (0.10%). In terms of maximum drawdown, LPRE dropped -10.33% vs BENJ's -0.39%.

Which ETF is better, LPRE or BENJ?

On 1-year performance, LPRE leads with 20.16% vs 3.80% for BENJ. On fees, BENJ is cheaper at 0.40% per year. On volatility, BENJ has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LPRE or BENJ?

Over the 1-year period, LPRE has performed better with a 20.16% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LPRE or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 1.00% for LPRE.

Which ETF pays a higher dividend yield, LPRE or BENJ?

LPRE has the higher dividend yield at 1.12%, compared with 0.00% for BENJ.

What is the main difference between LPRE and BENJ?

LPRE is categorized as REIT, while BENJ is Ultrashort Bond. They also come from different issuers: Long Pond and Horizon. Their fees differ too: 1.00% for LPRE and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.66 vs 1.31), 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.