Fund Description

The investment objective of the Horizon Defensive Multi-Factor Fund (the “Defensive Fund”) is to capture the majority of the returns associated with domestic equity market investments, while mitigating downside risk through use of a risk overlay strategy (the “Risk Assist strategy”).

To achieve the Fund’s objective Horizon assesses projected return and expected risk using a multi-disciplined approach consisting of economic, quantitative and fundamental analysis. The Defensive Fund seeks to achieve its investment objective by investing primarily in large and mid-cap U.S. common stocks. However, the Fund can invest in companies of any size, which may include small-cap companies. In addition, the fund may at times hold fixed-income securities or Exchange Traded Funds (ETFs) that invest in fixed income securities.

aspects of this active fund

Opportunistic Strategy: The Defensive Fund is designed for investors who want to capture the majority of the upside of U.S. equity markets while avoiding significant drawdowns during periods of severe market stress. The Fund expects its risk/return analysis will favor defensive investments, designed to outperform a cap-weighted index when U.S. equity markets decline. As a result, returns may lag the performance of traditional U.S. equity markets in strong up markets.

Flexible Management: This Fund is actively managed, using flexible asset allocation techniques to navigate volatile market swings. Horizon selects and weights securities using an approach that combines active management and quantitative models to allocate the Fund’s portfolio between issuers, sectors and/or factors (e.g., growth, value, momentum, quality, size and volatility) that it believes offer the opportunity for the highest projected return for a given amount of risk.

Risk Strategy: Managing risk is just as important as investment selection to the fund managers. During periods of heightened market risk, the Defensive Fund will seek to mitigate downside risk through Risk Assist, which is an active risk reduction strategy that seeks to guard against large declines in the Fund’s portfolio by investing up to 100% of the portfolio in U.S. Treasury Securities.


Fund facts

Share Classes Ticker CUSIP Inception Gross Expense Ratio Net Expense Ratio
Advisor Class USRTX 44053A796 1.39% 1.29%
Investor Class USRAX 44053A770 June 26, 2019 1.24% 1.14%
Institutional Class USRIX 44053A788 1.14% 1.04%
Class Advisor Class Investor Class Institutional Class
Ticker USRTX USRAX USRIX
CUSIP 44053A796 44053A770 44053A788
Inception
Gross Exp Ratio
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The Fund's investment adviser has contractually agreed to waive its fees and/or reimburse expenses of the Fund, at least until June 26, 2022


Performance

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Performance data as of TBD.

Inception date for the table above is per share class; all returns greater than one year are presented as annualized returns. Inception dates for share classes can be found in the Fund Facts table above. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 866-371-2399.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

 


Top Holdings

    Holdings data as of TBD.

     Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security. 


    Disclosure

    Mutual fund investing involves risk. Principal loss is possible. In addition to the costs, fees, and expenses involved in investing in ETFs, ETFs are subject to additional risks including the risks that the market price of the shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund's ability to sell its shares. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater in emerging markets. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Small and medium capitalization companies tend to have limited liquidity and greater price volatility than large capitalization companies. Investments in Real Estate Investment Trusts (REITs) involve additional risks such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments. The Fund may also use options, which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. The investment in options is not suitable for all investors. Diversification does not assure a profit or protect against loss in a declining market.