USRAX: Horizon U.S. Defensive Equity Fund - MutualFunds.com
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Horizon Defensive Multi-Factor Fund

USRAX - Snapshot

Vitals

  • YTD Return 17.7%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $108 M
  • Holdings in Top 10 28.1%

52 WEEK LOW AND HIGH

$32.63
$24.64
$32.63

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.10%

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


Compare USRAX to Popular U.S. Large-Cap Blend Equity Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$226.69

-0.59%

$1.26 T

0.94%

$2.13

16.47%

0.03%

$110.31

-0.56%

$1.26 T

-

$0.00

16.47%

0.14%

$403.15

-0.49%

$753.41 B

1.31%

$5.29

17.30%

0.03%

$406.07

-0.53%

$753.41 B

-

$0.00

17.16%

0.14%

$438.51

-0.49%

$374.03 B

1.58%

$6.94

17.29%

0.09%

USRAX - Profile

Distributions

  • YTD Total Return 17.7%
  • 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%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Horizon U.S. Defensive Equity Fund
  • Fund Family Name
    Horizon Investments
  • Inception Date
    Jun 26, 2019
  • Shares Outstanding
    3381892
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Scott 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 17.7% -71.4% 44.0% 36.57%
1 Yr 34.3% 6.4% 91.4% 88.48%
3 Yr N/A* -0.6% 25.5% N/A
5 Yr N/A* 4.5% 26.6% N/A
10 Yr N/A* 3.0% 16.4% N/A

* Annualized

Return Ranking - Calendar

Period USRAX Return Category Return Low Category Return High Rank in Category (%)
2020 4.9% -94.0% 2181.7% 80.96%
2019 N/A -22.7% 41.1% N/A
2018 N/A -100.0% 17.1% N/A
2017 N/A -100.0% 33.2% N/A
2016 N/A -44.8% 25.0% N/A

Total Return Ranking - Trailing

Period USRAX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.7% -71.2% 44.0% 38.89%
1 Yr 34.3% 6.4% 108.6% 79.24%
3 Yr N/A* -0.6% 26.6% N/A
5 Yr N/A* 4.5% 26.6% N/A
10 Yr N/A* 3.0% 16.4% N/A

* Annualized

Total Return Ranking - Calendar

Period USRAX Return Category Return Low Category Return High Rank in Category (%)
2020 4.9% -94.0% 2181.7% 80.96%
2019 N/A -21.6% 41.1% N/A
2018 N/A -100.0% 17.1% N/A
2017 N/A -100.0% 33.2% N/A
2016 N/A -13.4% 26.8% N/A

NAV & Total Return History


USRAX - Holdings

Concentration Analysis

USRAX Category Low Category High USRAX % Rank
Net Assets 108 M 20 1.26 T 78.13%
Number of Holdings 160 2 3910 35.94%
Net Assets in Top 10 51.8 M -472 M 279 B 63.72%
Weighting of Top 10 28.08% 2.3% 100.0% 65.57%

Top 10 Holdings

  1. Berkshire Hathaway Inc Class B 4.04%
  2. Facebook Inc A 4.03%
  3. Microsoft Corp 4.01%
  4. Alphabet Inc A 3.99%
  5. Amazon.com Inc 3.94%
  6. Apple Inc 3.91%
  7. Unitedhealth Group Inc 3.35%
  8. Bank of America Corp 3.05%
  9. Oracle Corp 2.88%
  10. Walmart Inc 2.83%

Asset Allocation

Weighting Return Low Return High USRAX % Rank
Stocks
99.53% 0.00% 152.50% 48.02%
Cash
0.47% -87.42% 100.00% 48.69%
Preferred Stocks
0.00% 0.00% 5.20% 24.37%
Other
0.00% -15.82% 100.00% 25.10%
Convertible Bonds
0.00% 0.00% 8.98% 21.13%
Bonds
0.00% -0.36% 82.68% 24.04%

Stock Sector Breakdown

Weighting Return Low Return High USRAX % Rank
Technology
21.79% 0.00% 77.03% 60.64%
Healthcare
17.14% 0.00% 58.76% 13.72%
Financial Services
15.05% 0.00% 67.99% 35.63%
Consumer Defense
11.03% 0.00% 51.01% 10.90%
Communication Services
9.90% 0.00% 36.08% 55.51%
Industrials
9.02% 0.00% 62.09% 63.35%
Consumer Cyclical
8.55% 0.00% 53.56% 80.52%
Real Estate
2.28% 0.00% 68.36% 54.26%
Basic Materials
2.18% 0.00% 31.64% 67.36%
Utilities
1.89% 0.00% 32.20% 61.15%
Energy
1.16% 0.00% 19.92% 68.83%

Stock Geographic Breakdown

Weighting Return Low Return High USRAX % Rank
US
98.36% 0.00% 149.97% 30.69%
Non US
1.17% 0.00% 63.63% 60.54%

USRAX - Expenses

Operational Fees

USRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.10% 0.01% 4.53% 22.62%
Management Fee 0.80% 0.00% 2.00% 90.53%
12b-1 Fee 0.10% 0.00% 1.00% 27.31%
Administrative Fee N/A 0.00% 0.95% N/A

Sales Fees

USRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 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 0.25% 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.

USRAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 325.00% 0.00% 363.00% 99.50%

USRAX - Distributions

Dividend Yield Analysis

USRAX Category Low Category High USRAX % Rank
Dividend Yield 0.26% 0.00% 1.23% 25.60%

Dividend Distribution Analysis

USRAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Semi-Annually Monthly Monthly

Net Income Ratio Analysis

USRAX Category Low Category High USRAX % Rank
Net Income Ratio 0.49% -3.04% 2.71% 75.16%

Capital Gain Distribution Analysis

USRAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Dividend Payout History

View More +

USRAX - Fund Manager Analysis

Managers

Scott Ladner


Start Date

Tenure

Tenure Rank

Jun 26, 2019

2.01

2.0%

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

2.01

2.0%

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

2.01

2.0%

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
0.01 38.11 6.48 1.5