AIHAX: Horizon Active Income A

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AIHAX Horizon Active Income A

  • Fund
  • AIHAX
  • Price as of: Jan 17, 2020
  • $9.51
    - $0.01 - 0.11%

Profile

AIHAX - Profile

Vitals

  • YTD Return 0.6%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return N/A
  • Net Assets $280 M
  • Holdings in Top 10 88.4%

52 WEEK LOW AND HIGH

$9.51
$9.04
$9.53

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.24%

SALES FEES

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

BROKERAGE FEES

  • Turnover 155.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multisector Bond

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.07%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Horizon Active Income Fund Class A
  • Fund Family Name
    Horizon Investments
  • Inception Date
    Feb 08, 2016
  • Shares Outstanding
    247481
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Ronald Saba

Fund Description

The fund seeks to achieve the fund's investment objective by allocating assets across various sectors of the global securities markets. The manager executes this strategy by investing in exchange-traded funds ("ETFs"). The fund will invest primarily in U.S. Dollar denominated securities, but may also invest a portion of its assets in non-U.S. Dollar denominated securities.


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Categories

Performance

AIHAX - Performance

Return Ranking - Trailing

Period AIHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.4% 4.6% 40.32%
1 Yr 5.2% -36.6% 178.5% 53.54%
3 Yr -0.3%* -34.6% 40.7% 85.15%
5 Yr N/A* -34.3% 21.5% 22.53%
10 Yr N/A* -3.6% 8.7% N/A

* Annualized

Return Ranking - Calendar

Period AIHAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.7% -35.1% 177.6% 55.33%
2018 -7.8% -48.0% 0.8% 77.02%
2017 1.6% -14.8% 11.2% 66.67%
2016 N/A -11.2% 19.1% N/A
2015 N/A -51.1% 4.0% N/A

Total Return Ranking - Trailing

Period AIHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.4% 4.6% 40.32%
1 Yr 5.4% -36.6% 178.5% 49.01%
3 Yr 1.7%* -34.6% 40.7% 46.53%
5 Yr N/A* -34.3% 22.2% 46.64%
10 Yr N/A* -3.6% 8.7% N/A

* Annualized

Total Return Ranking - Calendar

Period AIHAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.9% -35.1% 177.6% 53.60%
2018 -4.8% -48.0% 4.8% 42.24%
2017 4.1% -14.8% 14.0% 42.76%
2016 N/A -11.2% 22.5% N/A
2015 N/A -51.1% 4.0% N/A

NAV & Total Return History


Holdings

AIHAX - Holdings

Concentration Analysis

AIHAX Category Low Category High AIHAX % Rank
Net Assets 280 M 100 K 134 B 66.76%
Number of Holdings 20 6 7570 95.83%
Net Assets in Top 10 259 M -42.1 B 5.96 B 29.72%
Weighting of Top 10 88.44% 4.5% 410.5% 9.44%

Top 10 Holdings

  1. Xtrackers USD High Yield Corp Bd ETF 16.27%
  2. WisdomTree Yield Enhanced US Aggt Bd ETF 14.97%
  3. SPDR® DoubleLine Total Return Tact ETF 10.78%
  4. iShares 7-10 Year Treasury Bond ETF 10.05%
  5. iShares Intermediate-Term Corp Bd ETF 9.96%
  6. SPDR® Portfolio Interm Term Corp Bd ETF 9.90%
  7. First Trust TCWOpportunistic Fxd Inc ETF 6.98%
  8. VanEck Vectors JP Morgan EM LC Bd ETF 4.62%
  9. Janus Henderson Mortgage-Backed Sec ETF 2.48%
  10. Xtrackers Short Duration High Yld Bd ETF 2.42%

Asset Allocation

Weighting Return Low Return High AIHAX % Rank
Bonds
95.12% 31.46% 157.00% 24.86%
Cash
2.82% -76.54% 45.73% 75.56%
Convertible Bonds
1.17% 0.00% 11.31% 44.72%
Preferred Stocks
0.86% 0.00% 54.19% 29.72%
Stocks
0.02% -1.77% 22.96% 60.22%
Other
0.01% -32.79% 26.24% 35.56%

Stock Sector Breakdown

Weighting Return Low Return High AIHAX % Rank
Utilities
42.33% 0.00% 100.00% 14.83%
Financial Services
31.45% 0.00% 100.00% 21.29%
Industrials
16.97% 0.00% 100.00% 11.03%
Basic Materials
9.24% 0.00% 100.00% 6.84%
Technology
0.00% 0.00% 48.41% 63.88%
Real Estate
0.00% 0.00% 100.00% 61.60%
Healthcare
0.00% 0.00% 80.24% 66.54%
Energy
0.00% 0.00% 100.00% 79.85%
Communication Services
0.00% 0.00% 100.00% 67.68%
Consumer Defense
0.00% 0.00% 23.83% 59.32%
Consumer Cyclical
0.00% 0.00% 100.00% 71.48%

Stock Geographic Breakdown

Weighting Return Low Return High AIHAX % Rank
US
0.02% -1.09% 22.23% 60.56%
Non US
0.00% -1.88% 4.62% 63.89%

Bond Sector Breakdown

Weighting Return Low Return High AIHAX % Rank
Corporate
52.25% 0.00% 96.88% 30.28%
Government
28.26% 0.00% 99.36% 25.56%
Securitized
16.41% 0.00% 98.45% 56.11%
Cash & Equivalents
2.97% 0.28% 47.61% 88.33%
Municipal
0.08% 0.00% 36.84% 36.39%
Derivative
0.02% -1.18% 44.06% 45.83%

Bond Geographic Breakdown

Weighting Return Low Return High AIHAX % Rank
US
78.19% 13.75% 140.38% 28.89%
Non US
16.93% -8.93% 74.05% 60.28%

Expenses

AIHAX - Expenses

Operational Fees

AIHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.24% 0.00% 76.93% 45.95%
Management Fee 0.77% 0.00% 2.25% 80.47%
12b-1 Fee 0.25% 0.00% 1.00% 38.16%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

AIHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% 10.00%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

AIHAX 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.

AIHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 155.00% 2.00% 899.00% 85.17%

Distributions

AIHAX - Distributions

Dividend Yield Analysis

AIHAX Category Low Category High AIHAX % Rank
Dividend Yield 0.20% 0.00% 6.35% 81.79%

Dividend Distribution Analysis

AIHAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

AIHAX Category Low Category High AIHAX % Rank
Net Income Ratio 3.07% 0.87% 10.10% 81.79%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

AIHAX - Fund Manager Analysis

Managers

Ronald Saba


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.25

6.3%

Mr. Saba has more than twenty years of experience performing fundamental research and managing equity portfolios. He joined Horizon Investments in 2009 and is responsible for all fundamental equity research. Prior to joining Horizon, Mr. Saba was Managing Partner and Chief Investment Officer of Charlotte Capital, LLC from 1999 through 2006, where he was lead portfolio manager for the firm’s two institutional investment products.

Scott Ladner


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.25

6.3%

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.

Kevin Blocker


Start Date

Tenure

Tenure Rank

Mar 31, 2018

1.75

1.8%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.65 5.5 5.0