Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
16.7%
1 yr return
29.3%
3 Yr Avg Return
4.2%
5 Yr Avg Return
10.2%
Net Assets
$1.09 B
Holdings in Top 10
94.5%
Expense Ratio 1.62%
Front Load N/A
Deferred Load N/A
Turnover 142.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Allocation Fund’s investment adviser, Horizon Investments, LLC (“Horizon”), seeks to achieve the Allocation Fund’s investment objective by allocating assets across one or more of the following sectors of the global securities markets:
• | U.S. Common Stocks |
• | Foreign Developed Market Common Stocks |
• | Emerging Market Common Stocks |
• | Real Estate Investment Trusts (“REITs”) |
• | Government Bonds |
• | Corporate Bonds |
• | International Bonds |
• | Municipal Bonds |
• | High Yield Bonds |
Horizon selects asset classes using a flexible approach that allocates the Allocation Fund’s portfolio between asset classes that Horizon believes offer the opportunity for the highest projected return for a given amount of risk. This flexible approach to investing typically seeks to maximize returns by adjusting portfolio asset-allocations among various asset classes based upon near-term forecasts. Horizon assesses projected return and expected risk using a multi-disciplined approach consisting of economic, quantitative and fundamental analysis. Horizon expects to engage in frequent buying and selling of securities to achieve the Allocation Fund’s investment objective.
Horizon may execute the Allocation Fund’s strategy by investing in exchange-traded funds (“ETFs”) or by investing directly in individual securities or baskets of securities. Potential investments are reviewed for trading efficiency, liquidity, risk/return profile, and fit within overall portfolio diversification needs prior to investment. Horizon generally expects to select individual securities or baskets of securities instead of ETFs, when it believes such investments are more cost effective, more operationally efficient or will provide strategic exposure to a specific sector or market segment.
Horizon selects investments without restriction as to the issuer country, capitalization, currency, or maturity or credit quality of the securities or the securities held by each ETF. Under normal market conditions, the Allocation Fund invests a majority of its assets in equity securities or ETFs that invest primarily in equity securities; however, the Allocation Fund may invest in fixed income securities, including, without limitation, lower-quality fixed income securities commonly known as “high yield” or “junk” bonds, which are generally rated lower than Baa3 by Moody’s Investors Service (“Moody’s”) or lower than BBB- by S&P Global Ratings (“S&P”) or in ETFs that invest primarily in such securities. In addition, the Allocation Fund may buy or write options on puts or calls for investment purposes, to hedge other investments or to generate option premiums for the Allocation Fund, and may implement such investments through option combinations such as spreads, straddles, and collars.
The Allocation Fund’s option strategies may involve options combinations, such as spreads or collars. In “spread” transactions, the Allocation Fund buys and writes a put or buys and writes a call on the same underlying instrument with the options having different exercise prices, expiration dates, or both. When the Allocation Fund engages in spread transactions, it seeks to profit from differences in the option premiums paid and received and in the market prices of the related options positions when they are closed out or sold. A “collar” position combines a put option purchased by the Allocation Fund (the right of the Allocation Fund to sell a specific security within a specified period) with a call option that is written by the Allocation Fund (the right of the counterparty to buy the same security) in a single instrument, and the Allocation Fund’s right to sell the security is typically set at a price that is below the counterparty’s right to buy the security. Thus, the combined position “collars” the performance of the underlying security, providing protection from depreciation below the price specified in the put option, and allowing for participation in any appreciation up to the price specified by the call option. In each case, the premium received for writing an option offsets, in part, the premium paid to purchase the corresponding option; however, downside protection may be limited as compared to just owning a single option. There is no limit on the number or size of the options transactions in which the Allocation Fund may engage; however, the Allocation Fund will not use options for the purpose of increasing the Allocation Fund’s leverage with respect to any portfolio investment.
The Allocation Fund will typically sell portfolio securities to adjust portfolio allocations as described above, to seek to secure gains or limit potential losses, or when Horizon otherwise believes it is in the best interest of the Allocation Fund. Depending on market conditions, the Allocation Fund may at times focus its investments in particular sectors or areas of the economy.
Period | HASAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.7% | -2.8% | 27.4% | 17.51% |
1 Yr | 29.3% | 1.3% | 51.5% | 13.36% |
3 Yr | 4.2%* | -21.3% | 11.6% | 13.02% |
5 Yr | 10.2%* | -11.8% | 23.0% | 6.86% |
10 Yr | N/A* | -4.8% | 9.8% | 4.70% |
* Annualized
Period | HASAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.2% | -18.9% | 60.2% | 8.33% |
2022 | -17.7% | -48.5% | 0.1% | 57.21% |
2021 | 5.2% | -19.0% | 48.3% | 40.19% |
2020 | 7.6% | -16.5% | 52.8% | 38.73% |
2019 | 19.8% | -8.5% | 26.6% | 6.53% |
Period | HASAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.7% | -2.8% | 27.4% | 17.51% |
1 Yr | 29.3% | 1.3% | 51.5% | 13.36% |
3 Yr | 4.2%* | -21.3% | 11.6% | 13.02% |
5 Yr | 10.2%* | -11.8% | 23.0% | 6.86% |
10 Yr | N/A* | -4.8% | 9.8% | 4.70% |
* Annualized
Period | HASAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.0% | -11.7% | 61.8% | 10.19% |
2022 | -17.1% | -48.5% | 4.6% | 79.53% |
2021 | 20.9% | -14.2% | 48.3% | 11.21% |
2020 | 14.7% | -11.7% | 77.4% | 18.63% |
2019 | 20.4% | -3.9% | 28.4% | 14.07% |
HASAX | Category Low | Category High | HASAX % Rank | |
---|---|---|---|---|
Net Assets | 1.09 B | 1.98 M | 12.4 B | 17.97% |
Number of Holdings | 75 | 2 | 2274 | 47.47% |
Net Assets in Top 10 | 1.03 B | 1.55 M | 9.46 B | 17.97% |
Weighting of Top 10 | 94.49% | 20.8% | 109.8% | 20.28% |
Weighting | Return Low | Return High | HASAX % Rank | |
---|---|---|---|---|
Stocks | 99.58% | 0.00% | 145.83% | 12.90% |
Cash | 11.42% | -33.22% | 99.64% | 31.34% |
Preferred Stocks | 0.00% | -0.09% | 5.36% | 42.86% |
Other | 0.00% | -29.71% | 135.29% | 60.37% |
Convertible Bonds | 0.00% | 0.00% | 8.92% | 70.97% |
Bonds | 0.00% | 0.00% | 106.59% | 55.30% |
Weighting | Return Low | Return High | HASAX % Rank | |
---|---|---|---|---|
Technology | 20.18% | 0.00% | 85.77% | 30.60% |
Financial Services | 13.34% | 0.00% | 98.22% | 43.17% |
Consumer Cyclical | 10.74% | 0.00% | 25.83% | 32.79% |
Industrials | 10.67% | 0.00% | 23.85% | 26.78% |
Healthcare | 10.46% | 0.00% | 38.63% | 63.93% |
Communication Services | 8.08% | 0.00% | 21.61% | 22.40% |
Consumer Defense | 8.03% | 0.00% | 37.51% | 31.15% |
Energy | 6.17% | 0.00% | 60.89% | 42.62% |
Utilities | 5.26% | 0.00% | 91.12% | 27.87% |
Basic Materials | 4.24% | 0.00% | 56.73% | 48.09% |
Real Estate | 2.83% | 0.00% | 99.45% | 53.01% |
Weighting | Return Low | Return High | HASAX % Rank | |
---|---|---|---|---|
US | 99.58% | 0.00% | 145.83% | 12.90% |
Non US | 0.00% | -1.94% | 38.53% | 47.00% |
HASAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.62% | 0.45% | 10.24% | 55.76% |
Management Fee | 0.99% | 0.00% | 1.50% | 63.59% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 45.14% |
Administrative Fee | N/A | 0.05% | 0.70% | N/A |
HASAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | 10.53% |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
HASAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | N/A |
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.
HASAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 142.00% | 1.75% | 441.00% | 60.34% |
HASAX | Category Low | Category High | HASAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.54% | 0.00% | 24.95% | 72.35% |
HASAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
HASAX | Category Low | Category High | HASAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.21% | -2.01% | 13.72% | 53.00% |
HASAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.087 | OrdinaryDividend |
Dec 22, 2022 | $0.097 | OrdinaryDividend |
Dec 27, 2021 | $2.180 | OrdinaryDividend |
Dec 21, 2020 | $0.889 | OrdinaryDividend |
Dec 20, 2019 | $0.069 | OrdinaryDividend |
Dec 24, 2018 | $0.597 | CapitalGainShortTerm |
Dec 24, 2018 | $0.122 | CapitalGainLongTerm |
Dec 24, 2018 | $0.070 | OrdinaryDividend |
Dec 29, 2017 | $1.452 | CapitalGainShortTerm |
Dec 29, 2017 | $0.047 | CapitalGainLongTerm |
Dec 29, 2017 | $0.071 | OrdinaryDividend |
Dec 28, 2016 | $0.127 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Mar 31, 2018
4.17
4.2%
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.
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
Mr. Hill is part of the Investment Management division at Horizon Investments focusing on and providing investment insight on a broad range of asset allocation decisions from a global macro and derivatives perspective. Prior to joining Horizon in 2019, Mr. Hill served as a Senior Portfolio Analyst for Cold Spring Asset Management in New York from July 2016 to January 2017 and was a director within the foreign exchange option trading group at Wells Fargo in New York from 2010 to 2016. Mr. Hill began his career at Wachovia, acquired by Wells Fargo in 2008, in Charlotte in the FX Division. Mr. Hill holds a BA in Economics and a BA in Physics from the University of Virginia. Mr. Hill is also a CFA ® Charterholder.
Start Date
Tenure
Tenure Rank
Mar 31, 2020
2.17
2.2%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.83 | 6.67 | 13.0 |
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