BENJ
Horizon Landmark ETF
7월 28일 3:44 PM ET (한국 7/29 04:44)
$52.92
+0.00 +0.01%
BENJ ETF is analyzed across 10 metrics including expense ratio, holdings, sector allocation, dividends, RSI, and MACD.
Total Expense Ratio
0.4%
Annual operating cost
Net Assets (AUM)
$269M
약 3689억원
Holdings
3 items
Dividend Yield
-
Management Style
Active
| Category | Bonds - Treasury & Government | Asset Type | Bonds | Return% 1Y | 3.87% | Total Holdings | 3 | Perf Week | 0.08% |
| ETF Type | US Bonds | Active/Passive | Active | Return% 3Y | - | AUM | $269M | Perf Month | 0.27% |
| Expense | 0.4% | NAV | $52.90 | Return% 5Y | - | 52W High | 0% | Perf Quarter | 0.9% |
| Dividend TTM | - | Div Gr. 3/5Y | - | Return% 10Y | - | 52W Low | 5.69% | Perf Half Y | 1.8% |
| Flows% 1M | 12.09% | Flows% YTD | 57.12% | Return% SI | 3.85% | Volatility(W/M) | 0.04% 0.05% | Perf YTD | 2% |
| SMA20 | 0.14% | SMA50 | 0.36% | SMA200 | 1.45% | RSI (14) | 81.56 | Beta | 0 |
| IPO | 2025/1/23 | Prev Close | $52.92 | Perf Year | 3.84% | Avg Volume | 0.03M | Price | $52.92 |
Horizon Landmark ETF (BENJ) Investment Analysis
ETF Overview
Horizon Landmark ETF · Bonds - Treasury & Government
채권형 — 채권 ETF (만기 미상)
2025년 상장, 1년 운영 중.
The Horizon Landmark ETF aims for total return. This actively managed ETF seeks to achieve its investment objective by primarily investing in US Treasury Bills (T-Bills) with maturities between one and three months, as well as ETFs with significant exposure to such Treasuries, while also employing options strategies.
📘 BENJ ETF 자세히 알아보기 →U.S.fixed-incomebondstreasuries
- 규모
- $269M 약 3689억원
- 운용사
- Horizon Kinetics
- 운용 방식
- 액티브 (운용사 재량)
- 상장일
- 2025년
Cost Efficiency
Annual Expense Ratio · Category Rank · Long-Term Cost Impact
Above-average cost — 0.4% annually
Expense ratio is higher than the Bonds - Treasury & Government median. Compare against similar ETFs.
Effective Annual Expense Ratio (Net Expense Ratio)
하위 25%0.4%
My positionBottom 25%
Low range Average High range
Actual Cost Simulation by Investment Amount
$100.0M
Annual Expense Ratio
$400K
Pay $250K more per year vs. category average
Category Median Annual Cost
$150K
Based on expense ratio of 0.15%
10-Year Cumulative Expense Ratio (Long-term simulation assuming 7% annual market growth)
$7.2M
7.5% of returns you could have earned goes to the fund manager due to fees
Because the expense ratio takes a slice of your assets every year, costs compound over 10 years and result in far greater losses than a simple sum (annual fee × 10). The 7% annual return assumption is based on the S&P 500's long-term average.
Defaults shown against $100K baseline portfolio. Adjust the slider to update the amount in real time.
Cheaper alternatives in the same category
VGIT
Vanguard Intermediate-Term Treasury ETF
0.03%
-0.37%p annually
VGSH
Vanguard Short-Term Treasury ETF
0.03%
-0.37%p annually
SCHR
Schwab Intermediate-Term U.S. Treasury ETF
0.03%
-0.37%p annually
* A lower fee does not necessarily mean a better ETF. Consider the tracked index, liquidity, and tax treatment as well.
Long-Term Performance
1-year · 3-year · 5-year · 10-year returns · vs. benchmark · drawdown defense
Insufficient return data
-13.9%p vs. benchmark (SPY) over 1Y.
ℹ️ The "1Y·3Y·5Y·10Y" periods below represent annualized returns (CAGR) measured backward from today. Example: "3Y +12%" means the investment grew at a compounded 12% per year over the past three years.
If you had invested 1 year(s) ago
$100.0M
Today's value
$103.9M
→
Total gain
+$3.9M
Annualized +3.9%
ℹ️ How to read the return breakdown bar
Each period bar shows the share of this ETF's returns by source.
Price gains Price decline Dividends received
Mostly blue (80%+): Growth-style — price gains drive most returns
Mostly orange (70%+): Income-style — dividends drive most returns (watch out for after-tax drag)
Red + orange: Stagnant or declining price — dividends offset losses (common in covered-call and high-dividend funds)
Mostly orange (70%+): Income-style — dividends drive most returns (watch out for after-tax drag)
Red + orange: Stagnant or declining price — dividends offset losses (common in covered-call and high-dividend funds)
1 Year
2025.07 ~ 2026.07
Annualized +3.87%
상위 25%Price +3.84% + Dividend +0.03% = Total +3.87%/yr
Trailed the benchmark by 13.9%p annually
My positionTop 25%
Low range Average High range
3 Years
2023.07 ~ 2026.07
Listed 2025/1 — under 3 years
5 Years
2021.07 ~ 2026.07
Listed 2025/1 — under 5 years
10Y
2016.07 ~ 2026.07
Listed 2025/1 — under 10 years
1Y Cumulative Total Return Curve
2025-01-23 start, based on a 100M KRW base — read the curve values directly as units of 100M KRW (e.g., 308 → 3.08억 / 308M KRW). Both this ETF and the benchmark are rebased to 100 on the same start date for comparison.
BENJ · Price Only BENJ · Price + Cumulative Dividends BENJ · Dividend Reinvested S&P 500 (SPY)
50
100
150
ℹ️ Price Only: Excludes dividends and tracks pure stock price only. Covered-call and high-dividend ETFs often show a flat or declining line on this view, which is meaningful from a "principal preservation" standpoint. Price + Cumulative Dividend: Share count stays the same and received dividends are accumulated as cash. Closely matches your actual account total assets. Reinvested: Dividends are immediately used to buy additional shares (adjClose-based, the industry standard for total return). The wider the gap between the three lines, the easier it is to gauge the effectiveness of the dividend strategy.
Annual Return Comparison
ETF returns vs S&P 500 (SPY) by calendar year
BENJ S&P 500 (SPY)
+40%
0%
−40%
2025
2026 YTD
💡 SPY is an equity benchmark, so direct comparison with different asset classes is for reference only.
ℹ️ Returns from January 1 to December 31 of each year. The current year (2026) column is dimmed to indicate YTD (incomplete). If blue is higher than gray, the ETF outperformed the benchmark in that year.
Win rate vs S&P 500 (SPY)
—
Completed years: 1 — 3+ years of data are needed for a win rate to be shown.
2025 ✗
2026 ✗ YTD
💡 Win rates against SPY are for reference only, since the asset class differs.
ℹ️ Number of winning years versus S&P 500 (SPY) within a completed calendar year (1/1–12/31). The current year (YTD) is reported separately.
Downside Capture
-2%
Falls less than the benchmark in drawdowns — strong downside protection
<85% (Defend) 85~110% (Track) >110% (Lag)
💡 Bonds often show negative correlation with equities, limiting how this metric should be interpreted.
ℹ️ Average % drop of this ETF when S&P 500 (SPY) is −1%. Based on daily returns over the past 3 years (only days where the benchmark is negative).
Risk Profile
Volatility · Beta · Max Drawdown · Sharpe · Drawdown Recovery History
Overall Risk Grade
Bond Benchmark
Bond ETFs are naturally less volatile than stocks, so it only makes sense to compare them with other bond ETFs. You should also factor in the inverse relationship between interest rates and bond prices.
🏦 Bond ETFs — Low volatility and low Beta are the norm
Bonds have far lower volatility than stocks, and a lower Beta versus equity benchmarks. An "stable" rating is the natural result; meaningful comparison should be made against bond indices (e.g., AGG/TLT).
Beta (market sensitivity)
0.00
If the market rises +10% +0.0%
If the market falls -10% 0.0%
ℹ️ A beta of 1.0 moves in line with the market. Above 1 means it moves more than the market; below 1 means less.
Average daily range (last 1 month)
평균권±0.05%
S&P 500 typically ±1.0~1.3% · Bond funds ±0.3% · Leveraged ETFs ±3% or more
Annual volatility trend (past 10 years)
ℹ️ This ETF's average daily price swing. 1% means "on average, moves about ±1% per day." The rolling curve below shows the annualized volatility (long-term standard measure) over time.
Max Drawdown · Past 10 years
-0.4%
2025-01-23 Worst -5% 2026-07-01
ℹ️ Maximum drawdown is the largest peak-to-trough decline in the past. It represents the worst-case loss a long-term investor must psychologically endure.
Sharpe Ratio (Risk-Adjusted Return)
1.41
Good — Solid risk-adjusted returns
ℹ️ Annualized return minus the risk-free rate (3% annualized), divided by annualized volatility. A value above 1.0 is generally considered good risk-adjusted performance.
Overall investment appeal
What this ETF fits best — strengths, weaknesses, and target investor profile
Strengths and weaknesses both present Check the fit below to see whether it matches your investing goal.
🎯 목적별 적합도
내가 이 ETF를 어떤 목적으로 활용할 수 있는지 확인하세요.
보통
적합
매우 낮음
매우 적합
이런 분에게 어울려요
Investors seeking portfolio stability
✅ 강점
뚜렷한 강점이 드러나지 않아요.
⚠️ 약점·주의사항
- 💸Expense ratio is somewhat high — 0.4% annually
- 🎯Trails benchmark by -13.9%p annually
Portfolio Composition
What's actually inside — sector weights and top holdings
채권 포트폴리오
주식과 달리 "섹터 = 만기·신용등급"으로 해석해야 해요.
ℹ️ 왜 구성을 봐야 하나요?
ETF의 실제 성과는 담고 있는 종목과 섹터에서 나와요. 이름이 "S&P 500"이라도 기술주 비중이 유난히 높을 수 있고, "배당주 ETF"라도 몇몇 대형주에 쏠려 있을 수 있어요. 라벨보다 실제 구성을 확인하는 게 중요해요.
🔬 집중도 한눈에 보기
총 보유종목
6개
상위 10개 비중
200.1%
최대 단일 종목
76.93%
집중도(HHI)
12628
높음 (집중)
⚠️ 소수 종목·섹터에 집중되어 있어, 해당 종목/섹터가 흔들리면 ETF 전체가 크게 영향을 받아요.
Category Peers
Category: Bonds - Treasury & Government
같은 카테고리 6종 중 AUM 6/6위 · 보수율 6/6위
카테고리: Bonds - Treasury & Government
ℹ️ 왜 비교해야 하나요?
같은 카테고리 ETF끼리는 보수율·규모(AUM)·배당률을 비교해 볼 가치가 있어요. 보수율은 낮을수록 장기 수익에 유리하고, AUM이 크면 운용 안정성이 높아요. ▲ 표시는 BENJ보다 유리, ▼ 표시는 BENJ보다 불리를 뜻해요.
| 티커 | ETF명 | 보수율 | AUM | 보유종목 | 배당률 | YTD | 1년 |
|---|---|---|---|---|---|---|---|
| BENJ | Horizon Landmark ETF | 0.4% | $269M | 3 | - | +2.00% | +3.84% |
| iShares U.S. Treasury Bond ETF | 0.05% ▲ | $43.6B ▲ | 216 | 3.61% | - | -1.16% ▼ | |
| iShares 0-1 Year Treasury Bond ETF | 0.15% ▲ | $20.8B ▲ | 65 | 3.78% | - | -0.07% ▼ | |
| iShares J.P. Morgan USD Emerging Markets Bond ETF | 0.39% ▲ | $14.7B ▲ | 617 | 5.13% | - | +2.42% ▼ | |
| Alpha Architect 1-3 Month Box ETF | 0.19% ▲ | $13.2B ▲ | 9 | - | - | +4.10% ▲ | |
| Goldman Sachs Access Treasury 0-1 Year ETF | 0.12% ▲ | $7.6B ▲ | 40 | 3.71% | - | +0.00% ▼ |
AUM 내림차순 정렬 · ▲ BENJ보다 유리 · ▼ BENJ보다 불리
Leveraged & Covered Call ETFs on the Same Theme
ETFs that approach the same theme with a different strategy
9 ETFs tracking the same theme as BENJ using leveraged or covered call strategies (Leverage 2 · Inverse 3 · Covered Call 4)
Not direct derivatives of BENJ, but ETFs that cover the same theme via a different strategy.
ℹ️ Which ETFs are included?
Among ETFs whose theme (category or sector) overlaps with BENJ, some use special strategies. Leveraged ETFs aim for 2–3× the daily move, Inverse ETFs seek opposite-direction returns, and Covered Call ETFs generate monthly income from option premiums.
⚠️ Caution: Long-Term Holding
Leveraged and inverse ETFs track only the daily return. With high volatility, holding them for longer periods causes cumulative volatility decay—returns diverge further from the underlying index. They are meant for short-term trading.
Leverage 2 ETFs that amplify the same theme by 2-3x (high volatility)
Inverse 3 ETFs that bet on declines in the same theme
Covered Call & Options 4 ETFs that add a monthly dividend via covered calls on the same theme
FAQ
What kind of ETF is BENJ?
BENJ is an ETF in the Bonds - Treasury & Government category, managed by Horizon Kinetics.
How many holdings does BENJ have?
BENJ holds a total of 3 securities, with an AUM of approximately $269M.
What is the 52-week high and low for BENJ?
BENJ has recorded a 52-week high of $52.92 and a low of $50.07.
면책조항: 본 콘텐츠는 참고 자료이며 투자 권유가 아닙니다. 모든 투자의 책임은 투자자 본인에게 있습니다.