Horizon Multi-Factor Small/Mid Cap Fund
Fund Description
Investment Objective: The investment objective of the Horizon Multi-Factor Small/Mid Cap Fund (the “Multi-Factor Small/Mid Cap Fund”) is capital appreciation.
The Fund seeks to achieve its investment objective by investing primarily in small and mid-cap U.S. equity securities. In addition, the Fund employs defensive techniques, including strategic portfolio positioning, to achieve lower overall volatility as compared to the market generally.
Aspects of This Active Fund
Disciplined Selection: The Multi-Factor Small/Mid Cap Fund generally invests in small and mid-cap issuers that are within the range of the S&P 600 and S&P 400 indices, respectively.
Active Management: Horizon selects and weights securities using a flexible 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 Horizon believes offer the opportunity for the highest projected return for a given amount of risk. Horizon assesses projected return and expected risk by diversifying across stocks that have one or more high quality underlying fundamentals, such as: high profitability and stable earnings; low price variability; low fundamental valuation measures; and high recent price trends. Horizon may add or modify these characteristics as economic conditions change.
Fund Facts
| Share Classes | Ticker | CUSIP | Inception | Gross Expense Ratio | Net Expense Ratio |
| Advisor Class | HSMBX | 44053A697 | March 7, 2023 | 3.64% | 1.24% |
| Investor Class | HSMNX | 44053A671 | Dec 20, 2022 | 3.38% | 1.09% |
| Institutional Class | HSMIX | 44053A689 | 3.28% | 0.99% | |
| Class | Advisor Class | Investor Class | Institutional Class | ||
| Ticker | HSMBX | HSMNX | HSMIX | ||
| CUSIP | 44053A697 | 44053A671 | 44053A689 | ||
| Inception | March 7, 2023 | Dec 20, 2022 | |||
| Expense Ratio | 1.24% | 1.09% | 0.99% |
The Fund's investment adviser has contractually agreed to waive its advisory fees and/or reimburse expenses of the Fund, at least until March 31, 2025.
Performance
Monthly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Investor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Institutional Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
Quarterly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Investor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Institutional Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
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.
On 10/3/23, the Fund's name changed from Horizon U.S Defensive Small/Mid Cap Fund to Horizon Multi-Factor Small/Mid Cap Fund.
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. Small and medium capitalization companies tend to have limited liquidity and greater price volatility than large capitalization companies. 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.
The Fund’s strategy relies heavily on quantitative models and the analysis of specific metrics to construct the Fund’s portfolio. The impact of these metrics on a stock’s performance can be difficult to predict, and stocks that previously possessed certain desirable quantitative characteristics may not continue to demonstrate those same characteristics in the future. In addition, relying on quantitative models entails the risk that the models themselves may be limited or incorrect, that the data on which the models rely may be incorrect or incomplete, and that Horizon may not be successful in selecting companies for investment or determining the weighting of particular stocks in the Fund’s portfolio. Any of these factors could cause the Fund to underperform funds with similar strategies that do not select stocks based on quantitative analysis.