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AAANX Horizon Active Asset Allocation Investor

  • Fund
  • AAANX
  • Price as of: Nov 17, 2017
  • $13.85
  • - $0.05
  • - 0.36%
  • Category
  • Diversified Portfolio

AAANX - Profile

Vitals

  • YTD Return 18.5%
  • 3 Yr Annualized Return 6.3%
  • 5 Yr Annualized Return 10.4%
  • Net Assets $421 M
  • Holdings in Top 10 94.8%

52 WEEK LOW AND HIGH

$13.85
$11.51
$14.05

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.54%

SALES FEES

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

BROKERAGE FEES

  • Turnover 406.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

N/A

Investment Themes

CATEGORY

Diversified Portfolio
  • Fund Type Open End Mutual Fund
  • Investment Style Tactical Allocation

Distributions

  • YTD Total Return 18.5%
  • 3 Yr Annualized Total Return 6.3%
  • 5 Yr Annualized Total Return 10.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.09%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Horizon Active Asset Allocation Fund
  • Fund Family Name Horizon Investments
  • Inception Date Jan 31, 2012
  • Shares Outstanding 27937436
  • Share Class N
  • Currency USD
  • Domiciled Country United States
  • Manager Kevin W Blocker

Fund Description

The adviser selects asset classes using a flexible approach that allocates the Allocation fund's portfolio between asset classes that Horizon believes have the highest projected return for a given amount of risk. Horizon typically executes its strategy by investing in exchange-traded funds ("ETFs"). Potential ETFs are reviewed for sufficient trading liquidity and fit within overall portfolio diversification needs prior to investment.

AAANX - Performance

Return Ranking - Trailing

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.5% -49.2% 451.5% 1.30% 1
1 Yr 22.8% -26.7% 45.9% 0.51% 1
3 Yr 6.3% * -11.7% 12.3% 20.69% 2
5 Yr 10.4% * -11.3% 15.0% 5.00% 1
10 Yr N/A * -6.2% 8.6% N/A N/A

* Annualized


Return Ranking - Calendar

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 3.6% -65.8% 23.3% 33.17% 2
2015 -7.1% -37.7% 48.7% 54.41% 4
2014 1.1% -59.3% 22.9% 35.36% 3
2013 17.9% -17.5% 36.4% 11.84% 1
2012 N/A -16.2% 18.4% N/A N/A

Total Return Ranking - Trailing

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 18.5% -49.2% 451.5% 1.30% 1
1 Yr 22.8% -28.0% 73.2% 0.74% 1
3 Yr 6.3% * -11.8% 28.2% 17.02% 1
5 Yr 10.4% * -11.7% 15.0% 4.55% 1
10 Yr N/A * -6.2% 8.6% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 3.6% -65.6% 32.0% 49.28% 3
2015 -4.3% -29.3% 50.4% 69.72% 4
2014 6.5% -54.8% 25.4% 34.79% 2
2013 33.1% -16.7% 57.2% 2.12% 1
2012 N/A -16.2% 74.5% N/A N/A

NAV & Total Return History

AAANX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

AAANX Category Low Category High AAANX % Rank Quintile
Net Assets 421 M 81.4 K 118 B 19.32% 3
Number of Holdings 37 1 12799 16.33% 3
Net Assets in Top 10 398 M -654 M 23.3 B 10.89% 2
Weighting of Top 10 94.8% 0.2% 455.9% 4.76% 1

Top 10 Holdings

  1. Vanguard Value ETF 12.80%
  2. SPDR® EURO STOXX 50 ETF 9.94%
  3. Xtrackers MSCI Europe Hedged Equity ETF 6.95%
  4. iShares Exponential Technologies ETF 4.98%
  5. Vanguard Growth ETF 21.54%
  6. iShares Core MSCI Emerging Markets ETF 14.42%
  7. iShares Core MSCI EAFE ETF 9.85%
  8. ISHARES TR US AER DEF ETF 5.04%
  9. Vanguard FTSE Pacific ETF 4.85%
  10. Vanguard High Dividend Yield ETF 4.43%

Asset Allocation

Weighting Category Low Category High AAANX % Rank Quintile
Stocks
91.99% -2.59% 141.14% 1.23% 1
Other
5.24% -6.04% 98.99% 6.13% 1
Cash
1.63% -183.58% 110.98% 27.36% 5
Preferred Stocks
1.14% -0.07% 112.85% 6.72% 1
Convertible Bonds
0.00% 0.00% 33.12% 8.14% 5
Bonds
-0.01% -109.09% 135.52% 37.28% 5

Stock Sector Breakdown

Weighting Category Low Category High AAANX % Rank Quintile
Technology
16.25% -6.57% 70.04% 2.22% 1
Financial Services
15.77% -8.51% 69.58% 3.37% 1
Consumer Cyclical
10.56% -10.84% 54.37% 2.59% 1
Healthcare
10.42% -8.22% 31.05% 3.97% 1
Industrials
10.25% -3.12% 48.84% 3.05% 1
Consumer Defense
7.60% -2.25% 27.69% 2.17% 1
Basic Materials
4.95% -2.54% 21.85% 3.05% 1
Energy
4.75% -4.89% 35.99% 6.88% 2
Communication Services
4.24% -1.63% 27.16% 1.94% 1
Real Estate
3.70% -4.60% 82.50% 8.45% 2
Utilities
2.86% -2.48% 47.20% 4.99% 1

Stock Geographic Breakdown

Weighting Category Low Category High AAANX % Rank Quintile
Non US
47.87% -11.38% 150.81% 0.50% 1
US
44.12% -97.12% 138.58% 14.27% 2

AAANX - Expenses

Operational Fees

AAANX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.54% 0.00% 165.34% 12.19% 4
Management Fee 1.10% 0.00% 2.55% 1.28% 5
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.83% N/A N/A

Sales Fees

AAANX Fees (% of AUM) Category Low Category High AAANX Rank Quintile
Front Load N/A 0.14% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

AAANX Fees (% of AUM) Category Low Category High AAANX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A N/A

Turnover 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.

AAANX Fees (% of AUM) Category Low Category High AAANX Rank Quintile
Turnover 406.00% 0.00% 5910.00% 1.38% 5

AAANX - Distributions

Dividend Yield Analysis

AAANX Category Low Category High AAANX % Rank Quintile
Dividend Yield 0.0% 0.00% 11.33% 60.10% 5

Dividend Distribution Analysis

AAANX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

AAANX Category Low Category High AAANX % Rank Quintile
Net Income Ratio 1.09% -3.27% 12.91% 14.66% 4

Capital Gain Distribution Analysis

AAANX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

AAANX - Managers

Kevin W Blocker

Manager

Start Date

Feb 28, 2013

Tenure

4.67

Tenure Rank

5.4%

One of the original developers of the firm’s investment process, Mr. Blocker specializes in quantitative analysis and portfolio construction using traditional and alternative investment strategies. As a member of the firm’s Investment Committee, Mr. Blocker is responsible for screening investment opportunities and portfolio optimization. Mr. Blocker received a BA and BS in mathematics, computer science, and Spanish at Wofford College. Mr. Blocker also holds the CAIA designation. Before Horizon, Mr. Blocker played shortstop for the Colorado Rockies organization.


Ronald B. Saba

Manager

Start Date

Jan 31, 2012

Tenure

5.75

Tenure Rank

4.7%

With three decades of investment management experience, Mr. Saba he is responsible for the management of Horizon's dividend and equity portfolio strategies and also contributes bottom-up, fundamental research for the investment team. Prior to joining Horizon in 2009, Mr. Saba was Managing Partner and Chief Investment Officer of Charlotte Capital, LLC where he was lead portfolio manager for the firm’s two institutional investment products. Prior to Charlotte Capital, Mr. Saba was a Portfolio Manager with Pioneer Investments. Before Pioneer he served as a Portfolio Manager and Analyst with Heartland Advisors. Mr. Saba regularly contributes to the financial media. He has appeared on CNBC and has been featured in Barron’s magazine. Mr. Saba holds an MBA from the University of Chicago Graduate School of Business and a BS in Business Administration from The Ohio State University.


Robbie J. Cannon

Manager

Start Date

Jan 31, 2012

Tenure

5.75

Tenure Rank

4.7%

Mr. Cannon is the president and CEO of Horizon Investments, LLC, an SEC registered investment advisor based in Charlotte NC. His firm specializes in active asset allocation, retirement income and principal protection. During his tenure which began in 1999, Horizon has grown from a small retail RIA firm to a multi-billion dollar third party investment management group with a national footprint of independent broker dealers and institutional clients. His career in finance began in 1994, and has encompassed various aspects of portfolio management including asset allocation, equity analysis and risk management. He graduated from Furman University and lives in Charlotte, NC. He is a national speaker on topics from asset allocation and risk management to market dynamics. He has led his firm to be nationally recognized for revenue growth.


Tenure Analysis

Category Low

0.0

Category High

49.6

Category Average

5.63

Category Mode

0.7