MCSE vs. BENJ

Last updated Jun 23, 2026

MCSE (Martin Currie Sustainable International Equity ETF) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - MCSE is a Foreign Large Cap Equities fund actively managed by Martin Currie, while BENJ is a Ultrashort Bond fund actively managed by Horizon. Both are actively managed. Over the past year, MCSE returned 3.16% vs 3.79% for BENJ. At a correlation of -0.02, they often move in opposite directions. MCSE charges 0.59%/yr vs 0.40%/yr for BENJ.

Performance

MCSE vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Martin Currie Sustainable International Equity ETF (MCSE) 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, MCSE achieves a 1.12% return, which is significantly lower than BENJ's 1.64% return.

MCSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 1.12%
• 6M: 1.32%
• 1Y: 3.16%
• 3Y*: 0.67%
• 5Y*: —
• 10Y*: —

BENJ

• 1D: 0.03%
• 1M: 0.27%
• YTD: 1.64%
• 6M: 1.75%
• 1Y: 3.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MCSE vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
MCSE Martin Currie Sustainable International Equity ETF	1.12%	1.25%
BENJ Horizon Landmark ETF	1.64%	3.72%

Correlation

The correlation between MCSE and BENJ is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	-0.02

Return for Risk

MCSE vs. BENJ — Risk / Return Rank

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

MCSE

MCSE Risk / Return Rank: 12
MCSE Sharpe Ratio Rank: 13
MCSE Sortino Ratio Rank: 11
MCSE Omega Ratio Rank: 13
MCSE Calmar Ratio Rank: 12
MCSE Martin Ratio Rank: 12

BENJ

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

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.

MCSE vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Martin Currie Sustainable International Equity ETF (MCSE) 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.

	MCSE	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	0.30	5.65	-5.35
Sortino ratio: Return per unit of downside risk	0.48	9.14	-8.66
Omega ratio: Gain probability vs. loss probability	1.07	4.85	-3.78
Calmar ratio: Return relative to maximum drawdown	0.33	9.74	-9.41
Martin ratio: Return relative to average drawdown	0.80	45.98	-45.18

MCSE vs. BENJ - Sharpe Ratio Comparison

The current MCSE Sharpe Ratio is 0.30, which is lower than the BENJ Sharpe Ratio of 5.65. The chart below compares the historical Sharpe Ratios of MCSE 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

MCSE vs. BENJ - Drawdown Comparison

The maximum MCSE drawdown since its inception was -26.36%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for MCSE and BENJ.

Drawdown Indicators

	MCSE	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-26.36%	-0.39%	-25.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-0.39%	-10.03%
Max Drawdown (3Y) Largest decline over 3 years	-26.36%	—	—
Current Drawdown Current decline from peak	-10.51%	0.00%	-10.51%
Average Drawdown Average peak-to-trough decline	-8.74%	-0.02%	-8.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	0.08%	+4.12%

Volatility

MCSE vs. BENJ - Volatility Comparison

The current volatility for Martin Currie Sustainable International Equity ETF (MCSE) is 0.00%, while Horizon Landmark ETF (BENJ) has a volatility of 0.11%. This indicates that MCSE experiences smaller price fluctuations and is considered to be less risky than BENJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCSE	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	0.11%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	5.17%	0.25%	+4.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	0.67%	+11.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.38%	0.60%	+18.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	0.60%	+18.78%

MCSE vs. BENJ - Expense Ratio Comparison

MCSE has a 0.59% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

MCSE vs. BENJ - Dividend Comparison

MCSE's dividend yield for the trailing twelve months is around 3.74%, while BENJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BENJ Horizon Landmark ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MCSE Martin Currie Sustainable International Equity ETF	3.74%	3.78%	0.63%	0.57%	0.48%

Frequently Asked Questions

Can I hold both MCSE and BENJ in my portfolio?

MCSE and BENJ have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCSE or BENJ?

BENJ has higher volatility (0.11%) compared to MCSE (0.00%). In terms of maximum drawdown, MCSE dropped -26.36% vs BENJ's -0.39%.

Which ETF is better, MCSE or BENJ?

On 1-year performance, BENJ leads with 3.79% vs 3.16% for MCSE. On fees, BENJ is cheaper at 0.40% per year. On volatility, MCSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MCSE or BENJ?

Over the 1-year period, BENJ has performed better with a 3.79% return vs 3.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MCSE or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.59% for MCSE.

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

MCSE has the higher dividend yield at 3.74%, compared with 0.00% for BENJ.

What is the main difference between MCSE and BENJ?

MCSE is categorized as Foreign Large Cap Equities, while BENJ is Ultrashort Bond. They also come from different issuers: Martin Currie and Horizon. Their fees differ too: 0.59% for MCSE and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.65 vs 0.30), 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.