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Horizon Tactical Fixed Income Fund

mutual fund
HTFNX
Payout Change
Pending
Price as of:
$48.12 -0.04 -0.08%
primary theme
N/A
share class
HTFNX (Mutual Fund)

Horizon Tactical Fixed Income Fund

Payout Change
Pending
Price as of:
$48.12 -0.04 -0.08%
primary theme
N/A
share class
HTFNX (Mutual Fund)

Horizon Tactical Fixed Income Fund

Payout Change
Pending
Price as of:
$48.12 -0.04 -0.08%
primary theme
N/A
share class

Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$48.12

$200 M

4.81%

$2.32

1.23%

Vitals

YTD Return

0.9%

1 yr return

6.0%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$200 M

Holdings in Top 10

108.5%

52 WEEK LOW AND HIGH

$48.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.23%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$48.12

$200 M

4.81%

$2.32

1.23%

HTFNX - Profile

Distributions

  • YTD Total Return 0.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Horizon Tactical Fixed Income Fund
  • Fund Family Name
    Horizon Funds
  • Inception Date
    Dec 20, 2022
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Tactical Income Fund’s investment adviser, Horizon Investments, LLC (“Horizon”), seeks to achieve the Tactical Income Fund’s investment objective by allocating to investments across various sectors of the global securities markets. The Tactical Income Fund’s investments will be primarily comprised of fixed and floating rate bonds of U.S. and foreign corporate issuers, both those that are investment-grade and non-investment grade (i.e., high yield or “junk” bonds); debt securities issued by the U.S. government and its agencies and instrumentalities (collectively, “U.S. Government Securities”); foreign sovereign debt; preferred stocks; convertible bonds; mortgage-backed securities (“MBS”); and bank loan assignments and participations. Horizon may execute the Tactical Income Fund’s strategy by investing in exchange-traded funds (“ETFs”) that invest primarily in the foregoing or by investing directly in individual securities or baskets of securities.

Horizon selects and weights securities using a flexible approach that combines active management and quantitative models to allocate the Tactical Income Fund’s portfolio. The Tactical Income Fund’s strategy is primarily driven by a tactical, systematic approach that uses measures of past return and risk to shift the Tactical Income Fund’s holdings towards asset classes determined by Horizon to have high and stable measures of price trends. Depending on market conditions, the Tactical Income Fund may at times focus its investments in particular sectors or areas of the economy. The strategy also incorporates a tactical risk management component that monitors asset class trends on a daily basis, and, if conditions deteriorate, prompts Horizon to reduce the Tactical Income Fund’s exposure to that asset class and allocate to more defensive-oriented investments, including, without limitation, U.S. Government Securities and money market instruments. As a result of the Tactical Income Fund’s tactical risk management strategy, in certain market conditions up to 100% of the Tactical Income Fund’s portfolio may be invested in U.S. Government Securities or money market instruments.

The Tactical Income Fund invests in the securities of non-U.S. issuers, including, without limitation, securities of emerging markets issuers and, while the Tactical Income Fund will invest primarily in U.S. Dollar denominated securities, it may also invest a portion of its assets in non-U.S. Dollar denominated securities. Horizon selects portfolio investments without restriction as to the issuer country, capitalization, currency, maturity or credit quality, and investments are expected to include those rated below investment grade (commonly referred to as “high yield” or “junk” bonds). 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 expects to engage in frequent buying and selling of securities to achieve the Tactical Income Fund’s objective.

Under normal circumstances, the Tactical Income Fund invests not less than 80% of the value of its net assets in fixed income investments. Horizon defines fixed income investments as including: (i) any debt or debt-related securities, income producing securities, and other instruments or evidences of indebtedness, including bonds, bills, notes (including structured notes), loans, money market instruments, mortgage and asset backed securities, and preferred stocks, and derivative instruments related thereto; and (ii) ETFs and mutual funds that invest primarily in fixed income investments.

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HTFNX - Performance

Return Ranking - Trailing

Period HTFNX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% N/A N/A N/A
1 Yr 6.0% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period HTFNX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.5% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period HTFNX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.9% N/A N/A N/A
1 Yr 6.0% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period HTFNX Return Category Return Low Category Return High Rank in Category (%)
2023 1.5% N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


HTFNX - Holdings

Concentration Analysis

HTFNX Category Low Category High HTFNX % Rank
Net Assets 200 M N/A N/A N/A
Number of Holdings 11 N/A N/A N/A
Net Assets in Top 10 238 M N/A N/A N/A
Weighting of Top 10 108.47% N/A N/A N/A

Top 10 Holdings

  1. SPDR Blackstone Senior Loan ETF 26.37%
  2. iShares 20+ Year Treasury Bond ETF 19.82%
  3. Xtrackers USD High Yield Corporate Bond ETF 16.80%
  4. iShares J.P. Morgan USD Emerging Markets Bond ETF 12.50%
  5. First American Government Obligations Fund 8.92%
  6. iShares iBoxx $ Investment Grade Corporate Bond ETF 8.71%
  7. VanEck Fallen Angel High Yield Bond ETF 5.64%
  8. SPDR Bloomberg Convertible Securities ETF 3.27%
  9. iShares Preferred and Income Securities ETF 3.23%
  10. Vanguard Total International Bond ETF 3.21%

Asset Allocation

Weighting Return Low Return High HTFNX % Rank
Stocks
99.55% N/A N/A N/A
Cash
9.37% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High HTFNX % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High HTFNX % Rank
US
99.55% N/A N/A N/A
Non US
0.00% N/A N/A N/A

HTFNX - Expenses

Operational Fees

HTFNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.23% N/A N/A N/A
Management Fee 0.60% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

HTFNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

HTFNX 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.

HTFNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

HTFNX - Distributions

Dividend Yield Analysis

HTFNX Category Low Category High HTFNX % Rank
Dividend Yield 4.81% N/A N/A N/A

Dividend Distribution Analysis

HTFNX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly

Net Income Ratio Analysis

HTFNX Category Low Category High HTFNX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

HTFNX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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HTFNX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A