- ISIN
- US44053A3095
- CUSIP
- 44053A309
- Issuer
- Horizon Investments
- Inception Date
- Jan 30, 2012
- Category
- Tactical Allocation
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
AAANX Performance Chart
Horizon Active Asset Allocation Fund (AAANX) is up 11.9% since the beginning of the year. AAANX is currently trading at $17 per share. Investors who bought $1,000 worth of AAANX shares 5 years ago would now be looking at an investment worth $1,574.
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Returns By Period
Horizon Active Asset Allocation Fund (AAANX) has returned 11.90% so far this year and 28.03% over the past 12 months. Over the last ten years, AAANX has returned 10.76% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Horizon Active Asset Allocation Fund
- 1D
- 1.22%
- 1M
- 1.60%
- YTD
- 11.90%
- 6M
- 11.66%
- 1Y
- 28.03%
- 3Y*
- 16.59%
- 5Y*
- 9.49%
- 10Y*
- 10.76%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
AAANX Monthly Returns History
Based on dividend-adjusted daily data since Jan 31, 2012, AAANX's average daily return is +0.04%, while the average monthly return is +0.82%. At this rate, an investment would double in approximately 7.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Nov 2020 with a return of +12.8%, while the worst month was Mar 2020 at -13.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, AAANX closed higher 52% of trading days. The best single day was Mar 13, 2020 with a return of +9.1%, while the worst single day was Mar 16, 2020 at -12.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.25% | 1.24% | -6.53% | 9.97% | 4.59% | -0.42% | 11.90% | ||||||
| 2025 | 2.87% | -1.76% | -4.71% | -0.31% | 5.27% | 4.63% | 0.79% | 2.83% | 3.37% | 1.60% | 0.07% | 1.22% | 16.58% |
| 2024 | -0.21% | 4.59% | 3.16% | -4.06% | 4.44% | 1.66% | 1.18% | 1.74% | 1.08% | -2.13% | 4.04% | -3.23% | 12.43% |
| 2023 | 4.75% | -4.38% | 2.08% | 0.57% | -0.49% | 5.78% | 3.93% | -2.37% | -4.17% | -2.77% | 8.22% | 5.87% | 17.25% |
| 2022 | -5.20% | -2.89% | 2.30% | -7.41% | 1.57% | -8.27% | 6.82% | -3.86% | -9.27% | 8.14% | 6.27% | -4.58% | -16.99% |
| 2021 | 0.87% | 4.01% | 2.89% | 3.14% | 1.10% | 0.51% | 1.28% | 2.64% | -4.85% | 6.51% | -2.12% | 4.07% | 21.42% |
Benchmark Metrics
Horizon Active Asset Allocation Fund has an annualized alpha of -2.53%, beta of 0.95, and R2 of 0.94 versus S&P 500 Index. Calculated based on daily prices since January 31, 2012.
- This fund participated in 101.92% of S&P 500 Index downside but only 86.86% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -2.53% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.95 and R2 of 0.94, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -2.53%
- Beta
- 0.95
- R²
- 0.94
- Upside Capture
- 86.86%
- Downside Capture
- 101.92%
Expense Ratio
AAANX has a high expense ratio of 1.14%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
AAANX ranks 51 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Horizon Active Asset Allocation Fund (AAANX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAANX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 2.78 | -0.16 |
| Martin ratioReturn relative to average drawdown | 11.13 | 12.44 | -1.31 |
Dividends
Dividend History
Horizon Active Asset Allocation Fund provided a 3.97% dividend yield over the last twelve months, with an annual payout of $0.66 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.66 | $0.66 | $2.44 | $0.11 | $0.13 | $2.19 | $0.91 | $0.09 | $0.80 | $1.57 | $0.10 | $0.15 |
Dividend yield | 3.97% | 4.45% | 18.43% | 0.78% | 1.08% | 15.02% | 6.59% | 0.67% | 7.46% | 12.35% | 0.89% | 1.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Horizon Active Asset Allocation Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.66 | $0.66 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.44 | $2.44 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.11 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.19 | $2.19 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Horizon Active Asset Allocation Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Horizon Active Asset Allocation Fund was 34.18%, occurring on Mar 23, 2020. Recovery took 113 trading sessions.
The current Horizon Active Asset Allocation Fund drawdown is 1.31%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -34.18%Mar 2020 | 1mo 2d | 5mo 12d | 6mo 14dFeb 2020 - Sep 2020 |
Bear market2022 | -24.61%Sep 2022 | 8mo 28d | 1y 4mo | 2y 1moJan 2022 - Feb 2024 |
Rate-hike selloffLate 2018 | -20.35%Dec 2018 | 10mo 29d | 11mo 27d | 1y 10moJan 2018 - Dec 2019 |
2016 correction2016 | -19.63%Feb 2016 | 8mo 25d | 1y 11d | 1y 9moMay 2015 - Feb 2017 |
2025 selloff2025 | -18.84%Apr 2025 | 1mo 18d | 2mo 20d | 4mo 8dFeb 2025 - Jun 2025 |
Drawdown Indicators
| AAANX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.18% | -56.78% | +22.60% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -9.10% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -18.84% | -18.90% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -24.61% | -25.43% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -34.18% | -33.92% | -0.26% |
Current DrawdownCurrent decline from peak | -1.31% | -1.80% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -10.71% | +5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 2.03% | +0.45% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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