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Launched · SEC filings

Horizon Flexible Income ETF

FLXNCboeHorizon FundsC

$23.91−0.01 (−0.06%)

As of Nov 2, 2026, 2:52 PM ET

C43/ 100

Rank 64 of 85 in US High Yield

C43/100Rank 64 of 85inUS High Yield
Intraday session: down, 65 prints from 23.92 to 23.91. Range 23.91 to 24.02. Use the arrow keys to read each point.23.9423.9623.9824.0024.0210 AM12 PM2 PM4 PM
Expense ratio
0.82%
Fund size
$53M
1Y total return
+3.7%
Yield · Last 12 months
11.49%
Holdings
5
Avg volume · 30D
40.9K sh
52W range
low $23.87high $26.09
Launched
Filings
SEC EDGAR

The ETF.net FLXN Grade

C

Score 43 out of 100

Category
US High Yield⁠
Rank
64 of 85
Six-pillar profile for FLXN. Scores out of 100: Cost 5, Risk 47, Mission 92, Tradability 56, Holdings 22, Durability 17. Strongest: Mission (92). Weakest: Cost (5). Leans toward Mission.

Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F5 out of 100
    Rank 81 of 85

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A92 out of 100
    Rank 37 of 77

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 51 of 85

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B56 out of 100
    Rank 29 of 85

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F22 out of 100
    Rank 78 of 85

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F17 out of 100
    Rank 82 of 85

Our read on FLXN

ETF.net Research

In short

CHigh yield with a dimmer switch: an active fund of ETFs whose risk-timing model dials credit exposure up or down, with put spreads layered on for income and downside cushioning. The 0.82% fee (no waiver) buys the tactics, not the beta.

Stated mandate

The fund seeks current income. It is actively managed, invests primarily in non-investment-grade fixed-income instruments, and uses a risk-timing model plus options strategies to adjust exposure, generate income, and manage downside risk.

Why people hold it

  • Unusual in a category of buy-and-hold index trackers: a proprietary risk-timing model raises high-yield exposure when conditions look favorable and trims it when they do not.sec.gov
  • Options do real work here. Put and call spreads, collars and FLEX options on indices and ETFs are used to generate income and cushion drawdowns, not erase them.sec.govhorizonmutualfunds.com
  • One ticker in place of a DIY job: picking junk-bond ETFs, sizing them to the risk backdrop, and writing your own put spreads.sec.gov
  • What it owns lines up closely with what it advertises: non-investment-grade credit held through ETFs and options, as the prospectus describes.

Worth knowing

  • At 0.82% with no waiver, it costs well above the index crowd: SCYB charges 0.03%, SPHY and HYLB 0.05%, USHY 0.08%. The tactics have to earn that gap.
  • Launched July 2025, and still a smaller, thinly traded fund, so spreads can run wider than the category's giants and limit orders matter.
  • Income arrives on an irregular schedule rather than a set monthly rhythm, so it is not a steady-paycheck instrument.

FLXN Performance

Launched Jul 2, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
FLXN$10,369
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FLXN $10,369. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FLXN. Periods over one year show the average yearly return.
PeriodFLXN
Year to date+2.0%
1 month+0.4%
3 months−1.0%
1 year+3.7%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FLXN
YearReturn barFLXN
2026 YTD+2.0%
2025+5.3%

History from Jul 8, 2025

FLXN in the news

FLXN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
11.49%Last 12 months
Payout per share
$2.74Last 12 months
Last payment
$0.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 10 payments from 2025 to 2026 YTD. Aug 22, 2025 $0.15; Dec 24, 2025 $0.74; Feb 27, 2026 $0.12; Apr 27, 2026 $0.68; May 28, 2026 $0.19; Jun 29, 2026 $0.22; Jul 27, 2026 $0.20; Aug 26, 2026 $0.18; Sep 25, 2026 $0.19; Oct 29, 2026 $0.23. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 29, 2026Oct 30, 2026$0.23
Sep 25, 2026Sep 28, 2026$0.19
Aug 26, 2026Aug 27, 2026$0.18
Jul 27, 2026Jul 28, 2026$0.20
Jun 29, 2026Jun 30, 2026$0.22
May 28, 2026May 29, 2026$0.19
Apr 27, 2026Apr 28, 2026$0.68
Feb 27, 2026Mar 2, 2026$0.12
Dec 24, 2025Dec 26, 2025$0.74
Aug 22, 2025Aug 25, 2025$0.15

$10,000 in FLXN 1 year ago paid $1,068 in dividends.

FLXN Risk

Risk pillarC47 out of 100Rank 51 of 85 in US High Yield
How much the fund’s monthly returns vary, scaled to a year.
4.0%
Annualised · 15 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.32
vs 3-month T-bills · 15 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−3.4%
15 months · trough Mar 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.08
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FLXN Cost

Compare FLXN and SCYB

Overpaying vs SCYB, cheapest in US High Yield

$15,051

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FLXN 0.82%

    $15,689

  • SCYB 0.03% Cheapest

    $638

$10,000
30 years

Cost over time

  • FLXN 0.82%
  • SCYB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FLXN $15,689SCYB $638

Year by year

YearFLXNSCYBOverpaying
10$1,457$55$1,402
20$5,519$216$5,303
30$15,689$638$15,051

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