RWEM vs. BENJ

Last updated Jun 21, 2026

RWEM (Rayliant Wilshire NxtGen Emerging Markets Equity ETF) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - RWEM is a Emerging Markets Equities fund tracking the FT Wilshire Emerging Large NxtGen Index, while BENJ is a Ultrashort Bond fund actively managed by Horizon. RWEM is passively managed, while BENJ is actively managed. Over the past year, RWEM returned 54.42% vs 3.76% for BENJ. At a correlation of -0.06, they often move in opposite directions. RWEM charges 0.52%/yr vs 0.40%/yr for BENJ.

Performance

RWEM vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) 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, RWEM achieves a 29.49% return, which is significantly higher than BENJ's 1.61% return.

RWEM

• 1D: 3.24%
• 1M: 10.02%
• YTD: 29.49%
• 6M: 35.99%
• 1Y: 54.42%
• 3Y*: 24.59%
• 5Y*: —
• 10Y*: —

BENJ

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.61%
• 6M: 1.73%
• 1Y: 3.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RWEM vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	29.49%	26.90%
BENJ Horizon Landmark ETF	1.61%	3.72%

Correlation

The correlation between RWEM 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 Jan 23, 2025	-0.06

Return for Risk

RWEM vs. BENJ — Risk / Return Rank

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

RWEM

RWEM Risk / Return Rank: 54
RWEM Sharpe Ratio Rank: 46
RWEM Sortino Ratio Rank: 43
RWEM Omega Ratio Rank: 49
RWEM Calmar Ratio Rank: 72
RWEM Martin Ratio Rank: 63

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.

RWEM vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) 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.

	RWEM	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	1.54	5.66	-4.12
Sortino ratio: Return per unit of downside risk	2.11	9.17	-7.06
Omega ratio: Gain probability vs. loss probability	1.30	4.86	-3.56
Calmar ratio: Return relative to maximum drawdown	3.49	9.77	-6.28
Martin ratio: Return relative to average drawdown	11.00	46.11	-35.11

RWEM vs. BENJ - Sharpe Ratio Comparison

The current RWEM Sharpe Ratio is 1.54, which is lower than the BENJ Sharpe Ratio of 5.66. The chart below compares the historical Sharpe Ratios of RWEM 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

RWEM vs. BENJ - Drawdown Comparison

The maximum RWEM drawdown since its inception was -26.92%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for RWEM and BENJ.

Drawdown Indicators

	RWEM	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-26.92%	-0.39%	-26.53%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-0.39%	-15.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.56%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.58%	-0.02%	-9.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	0.08%	+4.79%

Volatility

RWEM vs. BENJ - Volatility Comparison

Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) has a higher volatility of 15.45% compared to Horizon Landmark ETF (BENJ) at 0.11%. This indicates that RWEM'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

	RWEM	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	0.11%	+15.34%
Volatility (6M) Calculated over the trailing 6-month period	29.42%	0.24%	+29.18%
Volatility (1Y) Calculated over the trailing 1-year period	34.84%	0.67%	+34.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.29%	0.60%	+21.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	0.60%	+21.69%

RWEM vs. BENJ - Expense Ratio Comparison

RWEM has a 0.52% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

RWEM vs. BENJ - Dividend Comparison

RWEM's dividend yield for the trailing twelve months is around 1.66%, while BENJ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BENJ Horizon Landmark ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	1.66%	2.15%	3.59%	1.60%	5.59%	0.39%

Frequently Asked Questions

Can I hold both RWEM and BENJ in my portfolio?

RWEM 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, RWEM or BENJ?

RWEM has higher volatility (15.45%) compared to BENJ (0.11%). In terms of maximum drawdown, RWEM dropped -26.92% vs BENJ's -0.39%.

Which ETF is better, RWEM or BENJ?

On 1-year performance, RWEM leads with 54.42% vs 3.76% for BENJ. 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, RWEM or BENJ?

Over the 1-year period, RWEM has performed better with a 54.42% return vs 3.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWEM or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.52% for RWEM.

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

RWEM has the higher dividend yield at 1.66%, compared with 0.00% for BENJ.

What is the main difference between RWEM and BENJ?

RWEM is categorized as Emerging Markets Equities, while BENJ is Ultrashort Bond. They also come from different issuers: Rayliant and Horizon. Their fees differ too: 0.52% for RWEM and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.66 vs 1.54), 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.