Horizon Landmark ETF (BENJ) is an actively managed exchange-traded fund that seeks total return primarily through investments in U.S. Treasury Bills with maturities ranging from one to three months, including ETFs with substantial exposure to such Treasury Bills, and by engaging in options transactions. The fund employs a variety of options strategies, including the purchase and sale of put and call options, spreads, and other option combinations on the same underlying instrument with differing strike prices or expiration dates, to profit from differences in option premiums and market prices. It operates within the ultrashort bond and money market-taxable segments, targeting investors seeking income generation, volatility hedging, and capital preservation alongside equity-like returns, with an expense ratio of 0.40%.
The ETF, with approximately $165 million in assets under management as of late 2025, trades on NYSE Arca and maintains holdings such as options on the SPDR S&P 500 ETF Trust, cash equivalents, and short-term government obligations. Distributed by Quasar Distributors, LLC, it is advised by Horizon Investments, LLC (now operating as Horizon), a goals-based investment manager founded in 1995 and headquartered in Charlotte, North Carolina.
Launched on January 22, 2025, as part of Horizon's inaugural suite of actively managed ETFs alongside the Horizon Expedition Plus ETF (HBTA), BENJ marked the firm's strategic entry into the rapidly growing active ETF market to enhance its offerings for financial advisors. In December 2025, Horizon announced the acquisition of Anfield Capital Management, expanding its fixed income capabilities and establishing a bi-coastal presence with a new base in California, following its earlier 2025 purchase of Centre Asset Management and a brand evolution from Horizon Investments. These moves reflect Horizon's accelerated growth, including the rollout of 12 new ETFs in 2025, aimed at providing customized, outcome-driven strategies nationwide.