Horizon Flexible Income ETF
$24.52−0.18 (−0.73%)
- Expense ratio
- 0.80%
- Fund size
- $82M
- 1Y return
- +5.5%
- Yield · Last 12 months
- 9.42%
- Volume · 30D
- 0M sh
- NAV per share
- $24.68
- 52W range
The ETF.net FLXN Grade
Score 41 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 5Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 92Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 44Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 50Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.FScore 20Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.FScore 22Category rank
Our read on FLXN
CMost high-yield ETFs buy the junk-bond index and sit still. FLXN takes the other route: an active fund that uses a risk-timing model and an options overlay to move credit exposure up and down while chasing income.
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
- Not an index tracker. A risk-timing model plus options adjust exposure, with the stated aim of generating income and managing downside rather than staying fully invested in high yield.
- Two income levers instead of one: coupons from below-investment-grade bonds, plus premium from the options strategy.
- The cheap giants of this category (SPHY, USHY, SCYB) are passive index funds. FLXN is doing a different job: hands-on credit exposure that can be dialed back.
- What it holds lines up closely with what the prospectus describes: active, high-yield-focused, with the hedging and income tools actually in use.
Worth knowing
- At 0.80% a year, it runs about double the high-yield category median and many times the index rivals, where SCYB charges 0.03% and SPHY 0.05%. Active timing carries that price tag.
- Launched in July 2025, so the timing model has no full credit cycle behind it yet.
- Small and thinly traded next to the index heavyweights, and payouts come on an irregular schedule rather than a set monthly one. Limit orders are the sane default here.
FLXN Holdings
- Bonds
- —
- 100%
- SPHY
Geography
FLXN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | FLXN |
|---|---|
| Year to date | +3.7% |
| 1 month | −0.2% |
| 3 months | +0.8% |
| 1 year | +5.5% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FLXN |
|---|---|---|
| 2026 YTD | +3.7% | |
| 2025 | +5.3% |
FLXN in the news
ETF.net Research hasn’t filed on FLXN yet — coverage lands here as it’s written.
FLXN Dividends
- 9.42%
- $2.33
- $0.18 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 26, 2026 | Aug 27, 2026 | $0.18 |
| Jul 27, 2026 | Jul 28, 2026 | $0.20 |
| Jun 29, 2026 | Jun 30, 2026 | $0.22 |
| May 28, 2026 | May 29, 2026 | $0.19 |
| Apr 27, 2026 | Apr 28, 2026 | $0.68 |
| Feb 27, 2026 | Mar 2, 2026 | $0.12 |
| Dec 24, 2025 | Dec 26, 2025 | $0.74 |
| Aug 22, 2025 | Aug 25, 2025 | $0.15 |
FLXN Risk
- 3.0%
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.
- 1.38
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.
- −3.4%
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.
- 0.08
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FLXN Cost
- The middle half of US High Yield funds
- Median 0.43%
78 of the 84 US High Yield funds charge less.