MDEV vs. BENJ

Last updated Jun 24, 2026

MDEV (First Trust Indxx Medical Devices ETF) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - MDEV is a Health & Biotech Equities fund tracking the Indxx Global Medical Equipment Index, while BENJ is a Ultrashort Bond fund actively managed by Horizon. MDEV is passively managed, while BENJ is actively managed. Over the past year, MDEV returned -7.87% vs 3.79% for BENJ. At a correlation of -0.11, they often move in opposite directions. MDEV charges 0.70%/yr vs 0.40%/yr for BENJ.

Performance

MDEV vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Medical Devices ETF (MDEV) 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, MDEV achieves a -11.56% return, which is significantly lower than BENJ's 1.64% return.

MDEV

• 1D: 0.35%
• 1M: -1.40%
• YTD: -11.56%
• 6M: -12.11%
• 1Y: -7.87%
• 3Y*: -3.34%
• 5Y*: -6.04%
• 10Y*: —

BENJ

• 1D: 0.00%
• 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)

MDEV vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
MDEV First Trust Indxx Medical Devices ETF	-11.56%	-4.70%
BENJ Horizon Landmark ETF	1.64%	3.72%

Correlation

The correlation between MDEV and BENJ is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	-0.11

Return for Risk

MDEV vs. BENJ — Risk / Return Rank

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

MDEV

MDEV Risk / Return Rank: 5
MDEV Sharpe Ratio Rank: 5
MDEV Sortino Ratio Rank: 5
MDEV Omega Ratio Rank: 5
MDEV Calmar Ratio Rank: 5
MDEV Martin Ratio Rank: 4

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: 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.

MDEV vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Medical Devices ETF (MDEV) 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.

	MDEV	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	5.65	-6.14
Sortino ratio: Return per unit of downside risk	-0.60	9.14	-9.74
Omega ratio: Gain probability vs. loss probability	0.93	4.85	-3.92
Calmar ratio: Return relative to maximum drawdown	-0.44	9.74	-10.18
Martin ratio: Return relative to average drawdown	-1.00	45.97	-46.98

MDEV vs. BENJ - Sharpe Ratio Comparison

The current MDEV Sharpe Ratio is -0.49, which is lower than the BENJ Sharpe Ratio of 5.65. The chart below compares the historical Sharpe Ratios of MDEV 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

MDEV vs. BENJ - Drawdown Comparison

The maximum MDEV drawdown since its inception was -42.34%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for MDEV and BENJ.

Drawdown Indicators

	MDEV	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-42.34%	-0.39%	-41.95%
Max Drawdown (1Y) Largest decline over 1 year	-18.13%	-0.39%	-17.74%
Max Drawdown (3Y) Largest decline over 3 years	-22.50%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.34%	—	—
Current Drawdown Current decline from peak	-33.81%	0.00%	-33.81%
Average Drawdown Average peak-to-trough decline	-25.71%	-0.02%	-25.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.87%	0.08%	+7.79%

Volatility

MDEV vs. BENJ - Volatility Comparison

First Trust Indxx Medical Devices ETF (MDEV) has a higher volatility of 4.27% compared to Horizon Landmark ETF (BENJ) at 0.11%. This indicates that MDEV'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

	MDEV	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	0.11%	+4.16%
Volatility (6M) Calculated over the trailing 6-month period	11.81%	0.25%	+11.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	0.67%	+15.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	0.60%	+18.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	0.60%	+18.35%

MDEV vs. BENJ - Expense Ratio Comparison

MDEV has a 0.70% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

MDEV vs. BENJ - Dividend Comparison

Neither MDEV nor BENJ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MDEV and BENJ in my portfolio?

MDEV and BENJ have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDEV or BENJ?

MDEV has higher volatility (4.27%) compared to BENJ (0.11%). In terms of maximum drawdown, MDEV dropped -42.34% vs BENJ's -0.39%.

Which ETF is better, MDEV or BENJ?

On 1-year performance, BENJ leads with 3.79% vs -7.87% for MDEV. On fees, BENJ is cheaper at 0.40% per year. On volatility, BENJ has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDEV or BENJ?

Over the 1-year period, BENJ has performed better with a 3.79% return vs -7.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDEV or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.70% for MDEV.

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

MDEV and BENJ have nearly identical dividend yields, around 0.00%.

What is the main difference between MDEV and BENJ?

MDEV is categorized as Health & Biotech Equities, while BENJ is Ultrashort Bond. They also come from different issuers: First Trust and Horizon. Their fees differ too: 0.70% for MDEV and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.65 vs -0.49), 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.