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Horizon Landmark ETF (BENJ) ETF Analysis

The Horizon Landmark ETF (BENJ) is a fixed income ETF managed by Horizon Funds, seeking total return. Launched in January 2025, BENJ has an AUM of $0.22 billion and an expense ratio of 0.40%.

A key aspect of BENJ is its focused portfolio, holding only three assets, with a significant allocation to other countries. Investors should note the fund's concentrated nature and absence of dividend payouts when considering BENJ for their fixed income allocation. Past performance does not guarantee future results.

Horizon Landmark ETF (BENJ) ETF — Price, Holdings & Analysis

The Horizon Landmark ETF (BENJ) is a fixed income ETF managed by Horizon Funds, seeking total return. Launched in January 2025, BENJ has an AUM of $0.22 billion and an expense ratio of 0.40%. A key aspect of BENJ is its focused portfolio, holding only three assets, with a significant allocation to other countries. Investors should note the fund's concentrated nature and absence of dividend payouts when considering BENJ for their fixed income allocation. Past performance does not guarantee future results.

ETF Overview

The investment objective of the Horizon Landmark ETF is total return.
The Horizon Landmark ETF (BENJ) aims to achieve total return through investments in the fixed income asset class. Unlike many fixed income ETFs that diversify across numerous bonds, BENJ employs a highly concentrated strategy, holding only three assets. Currently, its top holding is First American Government Obligs X (FGXXX), representing 0.10% of the portfolio. The fund's country exposure is 100% to 'Other' countries, indicating a focus outside of the United States. This concentrated approach may appeal to investors seeking a specific, targeted exposure within the fixed income market. However, it also introduces a higher degree of concentration risk compared to more diversified fixed income ETFs. Investors should carefully consider their risk tolerance and investment objectives before investing in BENJ. Past performance does not guarantee future results.

Risk Metrics

The Horizon Landmark ETF (BENJ) presents a unique risk profile due to its concentrated holdings and specific country exposure. With only three holdings, the fund is subject to significant concentration risk, meaning the performance of a single holding can substantially impact the overall return. The fund's 100% allocation to 'Other' countries introduces geographic risk, potentially exposing investors to currency fluctuations and political instability. BENJ's expense ratio of 0.40% will create a drag on returns, reducing net performance over time. The fund's three-year beta is 0.00, indicating very low volatility relative to the market, but this may not fully capture the fund's specific risks due to its concentrated nature. Investors should carefully evaluate these factors before investing. Past performance does not guarantee future results.

Expense Ratio

0.40%

What does BENJ hold?

HoldingWeight
First American Government Obligs X (FGXXX)0.10%

How Is the Fund Allocated?

CountryWeight
Other100.0%

Dividend Yield

0.00%

Risk Metrics

  • Beta: 0.00

Questions & Answers

What is BENJ and what does it track?

The Horizon Landmark ETF (BENJ) is a fixed income ETF managed by Horizon Funds. It was launched in January 2025 and aims to achieve total return.

Unlike many broadly diversified fixed income ETFs, BENJ employs a concentrated investment strategy, holding only three assets. The fund's portfolio includes holdings like First American Government Obligs X (FGXXX).

What is the expense ratio for BENJ?

The expense ratio for the Horizon Landmark ETF (BENJ) is 0.40%. This means that for every $10,000 invested in the fund, $40 is deducted annually to cover operating expenses.

While 0.40% is a reasonable expense ratio, it's important to consider how this impacts overall returns, especially when compared to similar fixed income ETFs.

What are the top holdings in BENJ?

As a highly concentrated ETF, the Horizon Landmark ETF (BENJ) holds a very limited number of assets. The top holding is First American Government Obligs X (FGXXX), comprising 0.10% of the fund.

Given the fund's investment strategy, the remaining two holdings likely constitute the vast majority of the portfolio's asset allocation.

Is BENJ a good long-term investment?

Whether the Horizon Landmark ETF (BENJ) is a suitable long-term investment depends on an individual investor's specific circumstances and risk tolerance. BENJ's concentrated holdings and focus on 'Other' countries introduce specific risks that may not be suitable for all investors.

The fund's expense ratio of 0.40% will also impact long-term returns.

How does BENJ compare to similar ETFs?

The Horizon Landmark ETF (BENJ) distinguishes itself from many similar fixed income ETFs through its highly concentrated portfolio and specific geographic focus. Unlike broadly diversified fixed income ETFs, BENJ holds only three assets.

Furthermore, its 100% allocation to 'Other' countries sets it apart from domestic-focused funds.

Does BENJ pay dividends?

According to the available data, the Horizon Landmark ETF (BENJ) has a dividend yield of 0.00%. This indicates that the fund does not currently distribute any dividends to its shareholders.

Investors seeking income from their investments may want to consider other fixed income ETFs that offer regular dividend payouts.