HNDRX: Horizon Defined Risk Fund - MutualFunds.com

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Horizon Defined Risk Investor

HNDRX - Snapshot

Vitals

  • YTD Return 2.7%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $195 M
  • Holdings in Top 10 33.7%

52 WEEK LOW AND HIGH

$55.69
$44.22
$55.87

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.20%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 10.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Options-based

Compare HNDRX to Popular Options-based Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$23.25

+0.04%

$11.31 B

1.01%

$0.24

9.36%

0.60%

$35.23

+0.06%

$6.94 B

1.07%

$0.38

1.56%

1.01%

$8.52

-1.05%

$2.54 B

-

-

-6.37%

1.07%

$12.13

-1.06%

$1.82 B

-

-

-1.86%

1.07%

$8.38

-0.95%

$1.55 B

-

-

-16.45%

0.87%

HNDRX - Profile

Distributions

  • YTD Total Return 2.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.99%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Horizon Defined Risk Fund
  • Fund Family Name
    Horizon Investments
  • Inception Date
    Dec 28, 2017
  • Shares Outstanding
    3107311
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Scott Ladner

Fund Description

The fund's investment adviser seeks to achieve the fund's investment objective by investing in a broadly diversified portfolio of equity securities (the "Equity Portfolio"), while seeking to generate income, hedge volatility and reduce the downside risk of the Equity Portfolio by buying and selling put and call options (the "Options Portfolio"). The Equity Portfolio typically focuses on investing in individual stocks. The Options Portfolio will generally consist of options "collars".


HNDRX - Performance

Return Ranking - Trailing

Period HNDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -38.0% 894.0% 36.09%
1 Yr 5.0% -33.3% 28.0% 42.27%
3 Yr N/A* -14.7% 15.2% N/A
5 Yr N/A* -6.3% 14.6% N/A
10 Yr N/A* -5.5% 12.7% N/A

* Annualized

Return Ranking - Calendar

Period HNDRX Return Category Return Low Category Return High Rank in Category (%)
2019 12.6% -28.6% 28.4% 37.02%
2018 -3.3% -93.5% 8.2% 17.33%
2017 N/A -38.9% 19.8% N/A
2016 N/A -10.9% 12.8% N/A
2015 N/A -31.0% 6.6% N/A

Total Return Ranking - Trailing

Period HNDRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.7% -38.0% 894.0% 36.52%
1 Yr 5.0% -36.5% 28.0% 39.09%
3 Yr N/A* -14.7% 15.2% N/A
5 Yr N/A* -6.3% 14.6% N/A
10 Yr N/A* -5.5% 12.7% N/A

* Annualized

Total Return Ranking - Calendar

Period HNDRX Return Category Return Low Category Return High Rank in Category (%)
2019 12.6% -5.9% 28.4% 37.57%
2018 -2.8% -30.9% 8.2% 20.00%
2017 N/A -23.4% 19.8% N/A
2016 N/A -10.9% 12.8% N/A
2015 N/A -31.0% 8.0% N/A

NAV & Total Return History


HNDRX - Holdings

Concentration Analysis

HNDRX Category Low Category High HNDRX % Rank
Net Assets 195 M 112 K 11.3 B 28.86%
Number of Holdings 352 3 509 2.88%
Net Assets in Top 10 50.7 M -4.54 M 3.8 B 53.09%
Weighting of Top 10 33.74% 14.5% 100.0% 55.41%

Top 10 Holdings

  1. Apple Inc 6.14%
  2. Microsoft Corp 5.89%
  3. Amazon.com Inc 5.21%
  4. Alphabet Inc A 3.75%
  5. Option on S&P 500 PR Sep20 3.02%
  6. Option on S&P 500 PR Sep20 3.02%
  7. Option on S&P 500 PR Sep20 3.02%
  8. Option on S&P 500 PR Sep20 3.02%
  9. Option on S&P 500 PR Sep20 3.02%
  10. Option on S&P 500 PR Sep20 3.02%

Asset Allocation

Weighting Return Low Return High HNDRX % Rank
Stocks
102.96% -3.62% 102.96% 0.82%
Preferred Stocks
0.00% 0.00% 4.89% 39.09%
Other
0.00% -5.49% 79.36% 51.85%
Convertible Bonds
0.00% 0.00% 26.25% 44.03%
Bonds
0.00% 0.00% 97.19% 44.03%
Cash
-2.97% -29.12% 100.04% 96.71%

Stock Sector Breakdown

Weighting Return Low Return High HNDRX % Rank
Technology
23.27% 0.00% 44.96% 59.82%
Healthcare
13.82% 0.00% 31.08% 72.32%
Financial Services
13.52% 0.00% 27.81% 37.95%
Communication Services
11.61% 0.00% 21.22% 13.84%
Consumer Cyclical
10.94% 0.00% 19.31% 68.75%
Industrials
8.23% 1.45% 44.64% 75.89%
Consumer Defense
8.19% 0.00% 27.36% 26.79%
Utilities
2.91% 0.00% 14.51% 51.79%
Energy
2.69% 0.00% 60.53% 34.82%
Real Estate
2.67% 0.00% 9.43% 34.82%
Basic Materials
2.14% 0.00% 64.58% 72.77%

Stock Geographic Breakdown

Weighting Return Low Return High HNDRX % Rank
US
102.13% -3.59% 102.13% 0.82%
Non US
0.83% -1.51% 98.65% 63.79%

HNDRX - Expenses

Operational Fees

HNDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.20% 0.35% 9.76% 53.02%
Management Fee 0.80% 0.20% 1.75% 51.84%
12b-1 Fee 0.10% 0.00% 1.00% 53.52%
Administrative Fee N/A 0.03% 0.28% N/A

Sales Fees

HNDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HNDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HNDRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.00% 0.00% 456.80% 26.26%

HNDRX - Distributions

Dividend Yield Analysis

HNDRX Category Low Category High HNDRX % Rank
Dividend Yield 0.00% 0.00% 11.09% 46.75%

Dividend Distribution Analysis

HNDRX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

HNDRX Category Low Category High HNDRX % Rank
Net Income Ratio 0.99% -2.13% 14.24% 44.44%

Capital Gain Distribution Analysis

HNDRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

HNDRX - Fund Manager Analysis

Managers

Scott Ladner


Start Date

Tenure

Tenure Rank

Nov 01, 2016

3.92

3.9%

Mr. Ladner serves as Chief Investment Officer and is the Chair of the Investment Committee for Horizon. In these capacities, he oversees all aspects of the Investment Management division for the firm. He also provides the Investment Management division with Macro analysis and interpretation of global derivatives, credit, foreign exchange, equity, and funding markets. His previous roles at Horizon included Head of Risk and Director of Quantitative & Alternative Strategies. Prior to Horizon, Mr. Ladner was a founder of Charlotte Global Advisors and Principal Guard, LLC. Mr. Ladner helped to launch an equity index volatility and dispersion trading unit at PEΔK6 Investments in Chicago, a proprietary listed option and volatility trading firm. Previously at First Union/Wachovia, Mr. Ladner founded and ran the equity swap and forwards portfolio while also managing equity option and volatility portfolios. He also co-founded and managed the Risk Arbitrage and Special Situations portfolio.Mr. Ladner then managed the swaption and cap/floor portion of the bank’s interest rate derivatives portfolio. Mr. Ladner received his BA in Economics and Russian Language & Literature from the University of North Carolina at Chapel Hill.

Michael Dickson


Start Date

Tenure

Tenure Rank

Mar 31, 2018

2.5

2.5%

Dr. Dickson serves as Head of Portfolio Management and in this role oversees all investment strategies managed by Horizon. He also conducts research on the development of quantitative methods and strategies that support Horizon’s investment process and new product development. His research is published in scholarly journals and he frequently speaks on these topics at industry conferences. In previous roles at Horizon, he served as Director of Structured Financial Solutions and as a portfolio manager with an emphasis on retirement income and protection strategies. Dr. Dickson specializes in the areas of empirical asset pricing, portfolio construction, and factor models. Both during and after his Ph.D. studies he taught undergraduate and graduate school coursework in finance and portfolio management at UNC Charlotte. Prior to earning his Ph.D. he worked in financial analysis support roles at Premier, Inc. and Global Compliance. Dr. Dickson received his BS in Chemistry from Winthrop University and both an MS in Economics and Ph.D. in Finance from UNC Charlotte.

Josh Rohauer


Start Date

Tenure

Tenure Rank

Mar 31, 2018

2.5

2.5%

Josh Rohauer – Portfolio Manager (Active Risk Assist Fund, Defined Risk Fund, Multi-Asset Income Fund, Defensive Fund and ESG Fund) Josh Rohauer is part of the investment strategies team at Horizon Investments focusing on Fixed Income and Options strategies. Prior to joining Horizon Investments in 2017, Mr. Rohauer attended the University of North Carolina at Charlotte’s electrical engineering program from 2014 through 2017 and worked at Nathan Hale Capital’s residential mortgages department.. Prior to that, Mr. Rohauer worked in the Sales and Trading division of Investment banking at Wells Fargo. Over 14 years at Wells Fargo, Mr. Rohauer worked within Municipal Derivatives, Fixed Income Options and Commercial Mortgage trading. Mr. Rohauer received a BS in Business Administration with a focus in Economics and a minor in math from Alfred University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.27 3.72 5.17