Horizon Flexible Income ETF
$24.15−0.07 (−0.29%)
- 0.80%
- $89M
- +5.6%
- 10.40%
- 0M sh
- $24.19
- low $23.87high $26.09
The ETF.net FLXN Grade
C
Score 43 out of 100
- 61 of 85
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.F6 out of 100Rank 80 of 85Mission
Whether the fund did what it promised, tested against its stated mandate.A92 out of 100Rank 36 of 74Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C47 out of 100Rank 52 of 85Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B58 out of 100Rank 29 of 85Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F21 out of 100Rank 80 of 85Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F21 out of 100Rank 81 of 85
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
- 6
- 100%
- SPHY
Geography
- United States100.00%
FLXN Performance
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$10,558
Returns run to the Oct 12, 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 | +2.4% |
| 1 month | −0.9% |
| 3 months | −0.9% |
| 1 year | +5.6% |
| 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 | +2.4% | |
| 2025 | +5.3% |
FLXN in the news
FLXN Dividends
- 10.40%
- $2.52
- $0.19 per share
- Monthly
Distribution history
FLXN Risk
- 4.1%
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.
- 0.33
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
0.80%
FLXN0.80%
- The middle half of US High Yield funds
- Median 0.43%
79 of the 85 US High Yield funds charge less.
Other funds in US High Yield
- CHYGHiShares Interest Rate Hedged High Yield Bond ETFExpense ratio 1.12%1 year return +6.8%
- CSIFIHarbor Ares Systematic Multi-Sector Income ETFExpense ratio 0.50%1 year return +1.7%
- CGBHIGabelli ETFs Trust - Gabelli High Income ETFExpense ratio 0.56%1 year return —
- CHYBINEOS Enhanced Income Credit Select ETFExpense ratio 0.72%1 year return +4.3%
- CHYTRCounterpoint High Yield Trend ETFExpense ratio 1.00%1 year return +1.5%