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 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
18.1%
1 yr return
26.5%
3 Yr Avg Return
9.7%
5 Yr Avg Return
N/A
Net Assets
$284 M
Holdings in Top 10
39.1%
Expense Ratio 1.22%
Front Load N/A
Deferred Load N/A
Turnover 218.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/08/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Multi-Factor U.S. Equity 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 Multi-Factor U.S. Equity Fund’s investment adviser, Horizon Investments, LLC (“Horizon”), generally considers large and mid-cap issuers to be those that are within the range of the S&P 500 and S&P 400 indices when purchased. However, the Fund can invest in companies of any size, which may include small-cap companies, at the discretion of the Adviser.
Horizon selects and weights securities using a flexible approach that combines active management and quantitative models to allocate the Fund’s portfolio between issuers, sectors and/or factors (e.g., growth, value, momentum, quality, size and volatility) that Horizon believes offer the opportunity for the highest projected return for a given amount of risk. Horizon assesses projected return and expected risk using a multi-disciplined approach consisting of economic, quantitative and fundamental analysis. The Multi-Factor U.S. Equity Fund expects its risk/return analysis will favor defensive investments, and therefore the Multi-Factor U.S. Equity Fund may lag the performance of traditional U.S. equity markets in strong up markets, but is designed to outperform when traditional U.S. equity markets decline. The Multi-Factor U.S. Equity Fund expects to engage in frequent buying and selling of securities to achieve its investment objective.
Under normal circumstances, the Multi-Factor U.S. Equity Fund will invest not less than 80% of the value of its net assets in the equity securities of U.S. companies. Depending on market conditions, the Multi-Factor U.S. Equity Fund may at times focus its investments in particular sectors or areas of the economy.
Options. The Multi-Factor U.S. Equity Fund may also buy or write put and call options for investment purposes, to hedge other investments, or to generate option premiums for the Fund. The Multi-Factor U.S. Equity Fund’s options investments may involve “covered” positions where the Fund may write a call option on an underlying position to generate income. The Multi-Factor U.S. Equity Fund may involve a “collateralized” strategy more generally, where the Multi-Factor U.S. Equity Fund may write put options on a security whose value is collateralized by cash (“cash-secured puts”) or otherwise collateralized by the Fund’s securities.
The Multi-Factor U.S. Equity Fund’s option strategies may involve options combinations, such as spreads, straddles, and collars. In “spread” transactions, the Multi-Factor U.S. Equity 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 Multi-Factor U.S. Equity 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. In “straddles,” the Multi-Factor U.S. Equity Fund purchases a put option and a call option or writes a put option and a call option on the same instrument with the same expiration date and the same exercise price. A “collar” position combines a put option purchased by the Multi-Factor U.S. Equity Fund (the right of the Multi-Factor U.S. Equity Fund to sell a specific security within a specified period) with a call option that is written by the Multi-Factor U.S. Equity Fund (the right of the counterparty to buy the same security) in a single instrument, and the Multi-Factor U.S. Equity 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 Multi-Factor U.S. Equity Fund may engage.
Period | USRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.1% | 4.3% | 35.1% | 65.18% |
1 Yr | 26.5% | 8.4% | 55.4% | 83.24% |
3 Yr | 9.7%* | -10.6% | 16.8% | 46.64% |
5 Yr | N/A* | -7.8% | 111.2% | N/A |
10 Yr | N/A* | 0.0% | 52.7% | N/A |
* Annualized
Period | USRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.8% | -42.6% | 47.4% | 78.41% |
2022 | -11.2% | -56.3% | -4.2% | 2.78% |
2021 | 1.8% | -27.2% | 537.8% | 90.71% |
2020 | N/A | -22.5% | 2181.7% | N/A |
2019 | N/A | -13.5% | 40.4% | N/A |
Period | USRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.1% | 4.3% | 35.1% | 65.18% |
1 Yr | 26.5% | 8.4% | 55.4% | 83.24% |
3 Yr | 9.7%* | -10.6% | 16.8% | 46.64% |
5 Yr | N/A* | -7.8% | 111.2% | N/A |
10 Yr | N/A* | 0.0% | 52.7% | N/A |
* Annualized
Period | USRTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.8% | -5.0% | 47.4% | 88.47% |
2022 | -10.8% | -36.8% | -2.2% | 11.85% |
2021 | 27.3% | 3.0% | 537.8% | 43.15% |
2020 | N/A | -15.8% | 2266.0% | N/A |
2019 | N/A | -0.4% | 241.3% | N/A |
USRTX | Category Low | Category High | USRTX % Rank | |
---|---|---|---|---|
Net Assets | 284 M | 2.34 M | 1.55 T | 76.46% |
Number of Holdings | 160 | 2 | 4002 | 40.78% |
Net Assets in Top 10 | 162 M | 979 K | 517 B | 71.60% |
Weighting of Top 10 | 39.13% | 0.3% | 112.9% | 37.12% |
Weighting | Return Low | Return High | USRTX % Rank | |
---|---|---|---|---|
Stocks | 99.08% | 0.00% | 105.85% | 45.63% |
Cash | 0.92% | 0.00% | 99.07% | 53.80% |
Preferred Stocks | 0.00% | 0.00% | 2.53% | 48.46% |
Other | 0.00% | -13.91% | 100.00% | 61.33% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 45.29% |
Bonds | 0.00% | 0.00% | 94.06% | 49.35% |
Weighting | Return Low | Return High | USRTX % Rank | |
---|---|---|---|---|
Technology | 23.55% | 0.00% | 48.94% | 58.32% |
Healthcare | 17.79% | 0.00% | 60.70% | 13.59% |
Financial Services | 14.51% | 0.00% | 55.59% | 34.60% |
Communication Services | 8.15% | 0.00% | 27.94% | 54.37% |
Consumer Cyclical | 7.97% | 0.00% | 30.33% | 81.71% |
Industrials | 7.57% | 0.00% | 29.90% | 84.10% |
Energy | 5.88% | 0.00% | 41.64% | 15.16% |
Consumer Defense | 5.49% | 0.00% | 47.71% | 80.64% |
Basic Materials | 3.53% | 0.00% | 25.70% | 26.61% |
Real Estate | 3.25% | 0.00% | 31.91% | 29.65% |
Utilities | 2.32% | 0.00% | 20.91% | 59.80% |
Weighting | Return Low | Return High | USRTX % Rank | |
---|---|---|---|---|
US | 99.08% | 0.00% | 105.85% | 35.92% |
Non US | 0.00% | 0.00% | 64.54% | 56.39% |
USRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.22% | 0.01% | 19.75% | 24.19% |
Management Fee | 0.80% | 0.00% | 1.90% | 93.66% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 43.65% |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
USRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
USRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 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.
USRTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 218.00% | 0.00% | 268.00% | 99.33% |
USRTX | Category Low | Category High | USRTX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.34% | 0.00% | 25.47% | 33.98% |
USRTX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
USRTX | Category Low | Category High | USRTX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.34% | -54.00% | 2.44% | 70.50% |
USRTX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.113 | OrdinaryDividend |
Dec 21, 2023 | $0.508 | CapitalGainShortTerm |
Dec 21, 2023 | $0.132 | CapitalGainLongTerm |
Dec 22, 2022 | $0.112 | OrdinaryDividend |
Dec 27, 2021 | $7.069 | OrdinaryDividend |
Dec 21, 2020 | $0.075 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 26, 2019
2.93
2.9%
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
Jun 26, 2019
2.93
2.9%
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.
Start Date
Tenure
Tenure Rank
Feb 18, 2022
0.28
0.3%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.24 | 2.42 |
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