Horizon Defined Risk Fund
Fund Description
Investment Objective: The Horizon Defined Risk Fund (the “Fund”) seeks capital appreciation and capital preservation.
The Fund pursues its investment objective by combining investments in domestic large cap securities with an option overlay risk mitigation strategy. Horizon Investments (the “Adviser”) expects that this combination can, across multiple types of market environments, deliver a substantial portion of the portfolio growth typically associated with equity securities with lower volatility and less downside risk.
Aspects of This Active Fund
Disciplined Selection: Equity securities are selected to provide efficient and diversified exposure to the large-cap U.S. stock market.
Options Strategy: By writing a call and purchasing a put, or put spread, on a broad-based index, the Adviser seeks to create an options “collar” that limits the likely range of returns for that position. The purchase of a put option on a security limits the Fund’s downside exposure over the duration of the contract. The sale of a call option generates income for the Fund and helps offset the cost of the put option while limiting the ability to benefit from increases in the original equity position above some level.
Active Management: The Adviser may increase its use of options collars when its research indicates the market is likely to experience increased volatility.
Fund Facts
| Share Classes | Ticker | CUSIP | Inception | Expense Ratio |
| Advisor Class | HADRX | 44053A838 | Feb 2, 2018 | 1.60% |
| Investor Class | HNDRX | 44053A846 | Dec 28, 2017 | 1.44% |
| Class | Advisor Class | Investor Class | ||
| Ticker | HADRX | HNDRX | ||
| CUSIP | 44053A838 | 44053A846 | ||
| Inception | Feb 2, 2018 | Dec 28, 2017 | ||
| Gross Exp Ratio | 1.26% | 1.11% | ||
| Net Exp Ratio | 1.20% | 1.05% |
Performance
Monthly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Advisor Class | - | - | - | - | - | - | - |
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | 0.11% |
| 3-Month | -2.06% |
| YTD | -2.06% |
| 1-Year | 0.18% |
| 3-Year | - |
| 5-Year | - |
| Inception | 0.35% |
| Investor Class | |
| 1-Month | 0.21% |
| 3-Month | -1.96% |
| YTD | -1.96% |
| 1-Year | 0.29% |
| 3-Year | -0.71% |
| 5-Year | - |
| Inception | 0.44% |
Quarterly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Advisor Class | - | - | - | - | - | - | - |
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | 0.11% |
| 3-Month | -2.06% |
| YTD | -2.06% |
| 1-Year | 0.18% |
| 3-Year | - |
| 5-Year | - |
| Inception | 0.35% |
| Investor Class | |
| 1-Month | 0.21% |
| 3-Month | -1.96% |
| YTD | -1.96% |
| 1-Year | 0.29% |
| 3-Year | -0.71% |
| 5-Year | - |
| Inception | 0.44% |
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 shown reflects contractual fee waivers. Without such waivers, total returns would be reduced.
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. By investing in the Fund, you will indirectly bear your share of any fees and expenses charged by the underlying funds, in addition to indirectly bearing the principal risks of the funds. The fund also invests in ETFs. They are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's 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 the Fund's ability to sell its shares. Investments in foreign securities involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund is new with no operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Trust’s Board of Trustees (“Board of Trustees”) may determine to liquidate the Fund. The Fund may use options and which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of the securities prices, interest rates and currency exchange rates. This investment may not be suitable for all investors. Investments in small and mid-capitalization companies involve additional risk such as limited liquidity and greater volatility than larger capitalization companies. There is no guarantee that the Funds' objectives will be achieved. The strategy of writing call options limits the Fund's ability to profit from increases in the value of its equity portfolio.