Horizon Defensive Multi-Factor Fund
- USRAX
- Price as of: Mar 05, 2021
-
$28.27
N/A N/A
- Primary Theme
- U.S. Growth Allocation
- Fund Company
- Horizon Investments
- Share Class
USRAX - Snapshot
Vitals
- YTD Return 4.6%
- 3 Yr Annualized Return N/A
- 5 Yr Annualized Return N/A
- Net Assets $176 M
- Holdings in Top 10 32.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.14%
SALES FEES
- Front Load N/A
- Deferred Load N/A
BROKERAGE FEES
- Turnover 325.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $2,500
- IRA N/A
Fund Classification
-
Primary Theme
U.S. Growth Allocation
- Fund Type Open End Mutual Fund
- Investment Style Allocation--85%+ Equity
USRAX - Profile
Distributions
- YTD Total Return 4.6%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.49%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameHorizon Defensive Multi-Factor Fund
-
Fund Family NameHorizon Investments
-
Inception DateJun 26, 2019
-
Shares Outstanding6147648
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerScott Ladner
Fund Description
The fund seeks to achieve its investment objective by investing primarily in large and mid-cap U.S. common stocks; and employs defensive techniques, including strategic portfolio positioning, to achieve lower overall volatility as compared to the market generally. The fund will invest not less than 80% of the value of its net assets in the securities of U.S. companies.
USRAX - Performance
Return Ranking - Trailing
Period | USRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -6.3% | 20.0% | 20.37% |
1 Yr | 19.4% | 2.8% | 71.4% | 92.26% |
3 Yr | N/A* | 2.7% | 28.3% | N/A |
5 Yr | N/A* | 7.3% | 23.8% | N/A |
10 Yr | N/A* | 6.2% | 20.4% | N/A |
* Annualized
Return Ranking - Calendar
Period | USRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 4.9% | -20.4% | 60.4% | 78.43% |
2019 | N/A | -13.8% | 32.8% | N/A |
2018 | N/A | -39.5% | -6.5% | N/A |
2017 | N/A | -4.9% | 26.4% | N/A |
2016 | N/A | -15.1% | 16.9% | N/A |
Total Return Ranking - Trailing
Period | USRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -6.3% | 20.0% | 20.37% |
1 Yr | 19.4% | 2.8% | 71.4% | 90.97% |
3 Yr | N/A* | 2.0% | 28.3% | N/A |
5 Yr | N/A* | 6.9% | 23.8% | N/A |
10 Yr | N/A* | 6.2% | 20.4% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | USRAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2020 | 4.9% | -20.4% | 60.4% | 78.43% |
2019 | N/A | -13.8% | 32.8% | N/A |
2018 | N/A | -38.4% | -6.4% | N/A |
2017 | N/A | 1.3% | 29.9% | N/A |
2016 | N/A | 0.1% | 19.4% | N/A |
NAV & Total Return History
USRAX - Holdings
Concentration Analysis
USRAX | Category Low | Category High | USRAX % Rank | |
---|---|---|---|---|
Net Assets | 176 M | 4.36 M | 129 B | 75.93% |
Number of Holdings | 159 | 4 | 9877 | 13.04% |
Net Assets in Top 10 | 68.1 M | 7.61 M | 20 B | 80.12% |
Weighting of Top 10 | 32.54% | 15.6% | 100.0% | 88.89% |
Top 10 Holdings
- Berkshire Hathaway Inc Class B 4.04%
- Facebook Inc A 4.03%
- Walmart Inc 4.01%
- Alphabet Inc A 3.99%
- Microsoft Corp 3.97%
- Amazon.com Inc 3.94%
- Apple Inc 3.91%
- Unitedhealth Group Inc 3.35%
- Verizon Communications Inc 2.78%
- Oracle Corp 2.20%
Asset Allocation
Weighting | Return Low | Return High | USRAX % Rank | |
---|---|---|---|---|
Stocks | 99.01% | 51.77% | 99.85% | 4.35% |
Cash | 0.98% | -132.60% | 9.34% | 70.19% |
Preferred Stocks | 0.00% | 0.00% | 4.77% | 65.84% |
Other | 0.00% | -0.03% | 13.00% | 88.82% |
Convertible Bonds | 0.00% | 0.00% | 6.03% | 62.73% |
Bonds | 0.00% | 0.00% | 129.47% | 70.19% |
Stock Sector Breakdown
Weighting | Return Low | Return High | USRAX % Rank | |
---|---|---|---|---|
Technology | 22.32% | 3.81% | 30.93% | 13.66% |
Healthcare | 14.17% | 6.92% | 19.61% | 24.22% |
Financial Services | 14.14% | 4.82% | 28.02% | 50.31% |
Consumer Defense | 12.42% | 1.55% | 21.67% | 4.97% |
Communication Services | 11.08% | 1.99% | 12.92% | 4.35% |
Industrials | 9.38% | 2.92% | 17.16% | 82.61% |
Consumer Cyclical | 7.94% | 0.00% | 26.19% | 91.93% |
Real Estate | 2.88% | 0.00% | 23.40% | 64.60% |
Utilities | 2.32% | 0.00% | 12.28% | 69.57% |
Basic Materials | 2.16% | 0.00% | 5.77% | 86.34% |
Energy | 1.20% | 0.00% | 25.06% | 91.93% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | USRAX % Rank | |
---|---|---|---|---|
US | 98.52% | 33.53% | 99.49% | 1.24% |
Non US | 0.49% | 0.00% | 41.13% | 97.52% |
USRAX - Expenses
Operational Fees
USRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.14% | 0.10% | 2.61% | 32.00% |
Management Fee | 0.80% | 0.00% | 1.00% | 90.74% |
12b-1 Fee | 0.10% | 0.00% | 1.00% | 16.67% |
Administrative Fee | N/A | 0.01% | 0.31% | N/A |
Sales Fees
USRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
USRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
USRAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 325.00% | 0.00% | 462.00% | 96.08% |
USRAX - Distributions
Dividend Yield Analysis
USRAX | Category Low | Category High | USRAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 5.15% | 12.35% |
Dividend Distribution Analysis
USRAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
USRAX | Category Low | Category High | USRAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.49% | -1.82% | 6.65% | 77.71% |
Capital Gain Distribution Analysis
USRAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
USRAX - Fund Manager Analysis
Managers
Scott Ladner
Start Date
Tenure
Tenure Rank
Jun 26, 2019
1.68
1.7%
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.
Josh Rohauer
Start Date
Tenure
Tenure Rank
Jun 26, 2019
1.68
1.7%
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.
Michael Dickson
Start Date
Tenure
Tenure Rank
Jun 26, 2019
1.68
1.7%
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.17 | 25.35 | 7.2 | 0.67 |