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AAANX Horizon Active Asset Allocation Investor

  • Fund
  • AAANX
  • Price as of: Nov 19, 2018
  • $12.46
  • - $0.18
  • - 1.42%
  • Category
  • Diversified Portfolio

AAANX - Profile

Vitals

  • YTD Return -2.0%
  • 3 Yr Annualized Return 6.9%
  • 5 Yr Annualized Return 5.7%
  • Net Assets $505 M
  • Holdings in Top 10 98.0%

52 WEEK LOW AND HIGH

$12.46
$12.23
$14.39

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.48%

SALES FEES

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

BROKERAGE FEES

  • Turnover 168.00%

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 -2.0%
  • 3 Yr Annualized Total Return 6.9%
  • 5 Yr Annualized Total Return 5.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.61%
DIVIDENDS
  • Dividend Yield 0.1%
  • 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 37447545
  • 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 -2.0% -56.5% 18.5% 28.14% 2
1 Yr 1.0% -41.6% 45.9% 23.57% 2
3 Yr 6.9% * -24.0% 14.6% 6.28% 1
5 Yr 5.7% * -9.6% 12.3% 16.52% 1
10 Yr N/A * -7.7% 13.1% N/A N/A

* Annualized


Return Ranking - Calendar

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 8.8% -17.9% 390.9% 24.75% 2
2016 3.6% -65.8% 23.3% 31.95% 2
2015 -7.1% -49.9% 48.7% 56.34% 4
2014 1.1% -59.3% 36.4% 38.55% 3
2013 17.9% -17.5% 27.4% 11.27% 1

Total Return Ranking - Trailing

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -2.0% -100.0% 11.6% 27.53% 2
1 Yr 1.0% -44.5% 73.2% 19.50% 1
3 Yr 6.9% * -24.9% 28.2% 5.63% 1
5 Yr 5.7% * -9.6% 12.1% 16.18% 1
10 Yr N/A * -7.7% 13.4% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period AAANX Return Category Return Low Category Return High Rank in Category (%) Quintile
2017 8.8% -16.6% 390.9% 25.02% 2
2016 3.6% -65.6% 32.0% 47.77% 3
2015 -4.3% -54.8% 50.4% 72.58% 4
2014 6.5% -21.5% 56.6% 38.30% 2
2013 33.1% -16.7% 57.2% 2.10% 1

NAV & Total Return History

AAANX - Holdings

Filings data as of: Sep 30, 2018

Concentration Analysis

AAANX Category Low Category High AAANX % Rank Quintile
Net Assets 505 M 81.4 K 130 B 14.30% 3
Number of Holdings 43 1 13387 15.05% 3
Net Assets in Top 10 543 M -654 M 26 B 8.65% 2
Weighting of Top 10 98.0% 0.0% 537.2% 2.97% 1

Top 10 Holdings

  1. iShares Edge MSCI USA Momentum Fctr ETF 9.86%
  2. SPDR® Portfolio S&P 500 Growth ETF 14.76%
  3. iShares Edge MSCI USA Quality Factor ETF 19.59%
  4. SPDR® S&P 600 Small Cap Growth ETF 9.50%
  5. iShares US Medical Devices ETF 5.04%
  6. Invesco S&P 500® Equal Weight ETF 19.42%
  7. SPDR® Portfolio Developed Wld ex-US ETF 10.02%
  8. SPDR® Portfolio Small Cap ETF 9.58%
  9. WISDOMTREE JAPAN HEDGED EQUITY FUND Nov. 16, 2018 Call 58 0.12%
  10. FINANCIAL SEL SECT SPDR FD Nov. 16, 2018 Put 27 0.06%

Asset Allocation

Weighting Category Low Category High AAANX % Rank Quintile
Stocks
97.90% -7.39% 146.41% 0.59% 1
Cash
2.08% -217.71% 121.32% 24.11% 4
Other
0.02% -15.55% 131.18% 16.47% 4
Preferred Stocks
0.01% -0.49% 64.65% 8.74% 4
Convertible Bonds
0.00% 0.00% 36.42% 9.01% 5
Bonds
0.00% -119.31% 203.19% 33.99% 5

Stock Sector Breakdown

Weighting Category Low Category High AAANX % Rank Quintile
Technology
18.24% -6.57% 70.04% 1.48% 1
Healthcare
17.69% -0.78% 31.05% 0.51% 1
Financial Services
15.19% -8.51% 69.58% 3.09% 1
Consumer Cyclical
13.49% -9.24% 54.37% 1.20% 1
Industrials
12.38% -2.74% 48.84% 1.15% 1
Consumer Defense
5.33% -3.24% 27.69% 6.00% 1
Energy
3.96% -4.89% 35.36% 10.20% 2
Real Estate
3.67% -4.50% 80.40% 7.94% 2
Basic Materials
3.51% -2.54% 21.85% 5.59% 1
Utilities
2.44% -0.89% 47.20% 4.99% 1
Communication Services
1.55% -1.63% 27.16% 9.28% 3

Stock Geographic Breakdown

Weighting Category Low Category High AAANX % Rank Quintile
US
87.72% -97.12% 144.89% 0.69% 1
Non US
10.18% -7.60% 150.26% 17.06% 3

AAANX - Expenses

Operational Fees

AAANX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.48% 0.00% 165.34% 12.84% 4
Management Fee 0.99% 0.00% 2.55% 1.69% 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 168.00% 0.00% 5910.00% 4.14% 5

AAANX - Distributions

Dividend Yield Analysis

AAANX Category Low Category High AAANX % Rank Quintile
Dividend Yield 0.1% 0.00% 11.69% 56.11% 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 0.61% -3.77% 11.42% 15.82% 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

5.67

Tenure Rank

4.7%

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

6.75

Tenure Rank

4.0%

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.


Scott E. Ladner

Manager

Start Date

Mar 31, 2018

Tenure

0.59

Tenure Rank

8.3%

Mr. Ladner provides trading, risk management and quantitative expertise to several of the firm’s strategies, with a particular emphasis on building Horizon’s capabilities within the alternative and absolute return investment space. Prior to Horizon, Mr. Ladner was a founder of Charlotte Global Advisor 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 trading firm. Previously at First Union/Wachovia, Mr. Ladner founded and ran the $4 billion equity swap and forwards portfolio. He also co-founded and managed the Risk Arbitrage and Special Situations portfolio. Mr. Ladner then managed the $300 billion notional swap and cap/floor portion of the bank’s interest rate derivatives portfolio. Mr. Ladner received his BS in economics from North Carolina at Chapel Hill.


Tenure Analysis

Category Low

0.0

Category High

37.9

Category Average

5.91

Category Mode

0.5