SCDL vs. BENJ

Last updated Jun 19, 2026

SCDL (ETRACS 2x Leveraged U.S. Dividend Factor TR ETN) and BENJ (Horizon Landmark ETF) are both exchange-traded funds - SCDL is a Leveraged Equities fund tracking the Dow Jones U.S. Dividend 100 (200%), while BENJ is a Ultrashort Bond fund actively managed by Horizon. SCDL is passively managed, while BENJ is actively managed. Over the past year, SCDL returned 44.38% vs 3.80% for BENJ. At a correlation of -0.01, they often move in opposite directions. SCDL charges 0.95%/yr vs 0.40%/yr for BENJ.

Performance

SCDL vs. BENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) 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, SCDL achieves a 32.62% return, which is significantly higher than BENJ's 1.61% return.

SCDL

• 1D: -0.27%
• 1M: -1.74%
• YTD: 32.62%
• 6M: 32.02%
• 1Y: 44.38%
• 3Y*: 19.16%
• 5Y*: 10.74%
• 10Y*: —

BENJ

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.61%
• 6M: 1.78%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCDL vs. BENJ - Yearly Performance Comparison

	2026 (YTD)	2025
SCDL ETRACS 2x Leveraged U.S. Dividend Factor TR ETN	32.62%	-2.15%
BENJ Horizon Landmark ETF	1.61%	3.72%

Correlation

The correlation between SCDL and BENJ is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	-0.01

Return for Risk

SCDL vs. BENJ — Risk / Return Rank

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

SCDL

SCDL Risk / Return Rank: 69
SCDL Sharpe Ratio Rank: 67
SCDL Sortino Ratio Rank: 70
SCDL Omega Ratio Rank: 59
SCDL Calmar Ratio Rank: 85
SCDL Martin Ratio Rank: 64

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.

SCDL vs. BENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) 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.

	SCDL	BENJ	Difference
Sharpe ratio: Return per unit of total volatility	2.06	5.66	-3.61
Sortino ratio: Return per unit of downside risk	2.97	9.17	-6.20
Omega ratio: Gain probability vs. loss probability	1.34	4.86	-3.52
Calmar ratio: Return relative to maximum drawdown	4.38	9.77	-5.40
Martin ratio: Return relative to average drawdown	10.92	46.11	-35.19

SCDL vs. BENJ - Sharpe Ratio Comparison

The current SCDL Sharpe Ratio is 2.06, which is lower than the BENJ Sharpe Ratio of 5.66. The chart below compares the historical Sharpe Ratios of SCDL 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

SCDL vs. BENJ - Drawdown Comparison

The maximum SCDL drawdown since its inception was -34.87%, which is greater than BENJ's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for SCDL and BENJ.

Drawdown Indicators

	SCDL	BENJ	Difference
Max Drawdown Largest peak-to-trough decline	-34.87%	-0.39%	-34.48%
Max Drawdown (1Y) Largest decline over 1 year	-10.19%	-0.39%	-9.80%
Max Drawdown (3Y) Largest decline over 3 years	-32.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.87%	—	—
Current Drawdown Current decline from peak	-5.94%	0.00%	-5.94%
Average Drawdown Average peak-to-trough decline	-11.88%	-0.02%	-11.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	0.08%	+3.99%

Volatility

SCDL vs. BENJ - Volatility Comparison

ETRACS 2x Leveraged U.S. Dividend Factor TR ETN (SCDL) has a higher volatility of 6.46% compared to Horizon Landmark ETF (BENJ) at 0.11%. This indicates that SCDL'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

	SCDL	BENJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	0.11%	+6.35%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	0.24%	+14.54%
Volatility (1Y) Calculated over the trailing 1-year period	21.71%	0.67%	+21.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.00%	0.60%	+28.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.83%	0.60%	+28.23%

SCDL vs. BENJ - Expense Ratio Comparison

SCDL has a 0.95% expense ratio, which is higher than BENJ's 0.40% expense ratio.

Dividends

SCDL vs. BENJ - Dividend Comparison

Neither SCDL nor BENJ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SCDL and BENJ in my portfolio?

SCDL and BENJ have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCDL or BENJ?

SCDL has higher volatility (6.46%) compared to BENJ (0.11%). In terms of maximum drawdown, SCDL dropped -34.87% vs BENJ's -0.39%.

Which ETF is better, SCDL or BENJ?

On 1-year performance, SCDL leads with 44.38% 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 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDL or BENJ?

Over the 1-year period, SCDL has performed better with a 44.38% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDL or BENJ?

BENJ is cheaper with a 0.40% expense ratio, compared with 0.95% for SCDL.

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

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

What is the main difference between SCDL and BENJ?

SCDL is categorized as Leveraged Equities, while BENJ is Ultrashort Bond. They also come from different issuers: UBS and Horizon. Their fees differ too: 0.95% for SCDL and 0.40% for BENJ.

Which has better risk-adjusted returns?

BENJ currently has the higher Sharpe Ratio (5.66 vs 2.06), 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.