- ISIN
- US44053A8466
- CUSIP
- 44053A846
- Issuer
- Horizon Investments
- Inception Date
- Dec 27, 2017
- Category
- Options Trading
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
HNDRX Performance Chart
Horizon Defined Risk Fund (HNDRX) is up 4.9% since the beginning of the year. HNDRX is currently trading at $90 per share. Investors who bought $1,000 worth of HNDRX shares 5 years ago would now be looking at an investment worth $1,519.
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Returns By Period
Horizon Defined Risk Fund (HNDRX) has returned 4.87% so far this year and 12.94% over the past 12 months.
Horizon Defined Risk Fund
- 1D
- 0.41%
- 1M
- 0.63%
- YTD
- 4.87%
- 6M
- 4.66%
- 1Y
- 12.94%
- 3Y*
- 12.60%
- 5Y*
- 8.72%
- 10Y*
- —
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%
HNDRX Monthly Returns History
Based on dividend-adjusted daily data since Apr 16, 2018, HNDRX's average daily return is +0.03%, while the average monthly return is +0.66%. At this rate, an investment would double in approximately 8.8 years.
Historically, 72% of months were positive and 28% were negative. The best month was Nov 2020 with a return of +5.8%, while the worst month was Mar 2020 at -6.2%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, HNDRX closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +6.8%, while the worst single day was Mar 9, 2020 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.11% | 0.01% | -2.69% | 4.79% | 1.63% | 0.08% | 4.87% | ||||||
| 2025 | 1.65% | -0.44% | -2.18% | 0.01% | 3.09% | 2.28% | 1.06% | 0.97% | 1.86% | 1.32% | 0.46% | 0.31% | 10.78% |
| 2024 | 1.07% | 2.08% | 1.30% | -0.88% | 2.70% | 1.61% | 0.58% | 2.10% | 1.56% | 0.00% | 3.08% | -0.69% | 15.41% |
| 2023 | 3.66% | -1.02% | 1.57% | 1.28% | 0.52% | 2.58% | 0.96% | 0.47% | -1.90% | -0.35% | 4.18% | 2.28% | 14.97% |
| 2022 | -3.06% | -3.57% | 1.82% | -4.95% | 0.86% | -3.47% | 4.08% | -0.92% | -4.18% | 4.34% | 3.08% | -3.99% | -10.12% |
| 2021 | -0.62% | 1.06% | 0.27% | 2.37% | 0.17% | 1.82% | 1.61% | 1.62% | -2.34% | 4.00% | -0.34% | 2.90% | 13.08% |
Benchmark Metrics
Horizon Defined Risk Fund has an annualized alpha of 0.73%, beta of 0.52, and R2 of 0.91 versus S&P 500 Index. Calculated based on daily prices since April 16, 2018.
- This fund participated in 51.81% of S&P 500 Index downside but only 46.29% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.52 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.73%
- Beta
- 0.52
- R²
- 0.91
- Upside Capture
- 46.29%
- Downside Capture
- 51.81%
Expense Ratio
HNDRX has a high expense ratio of 1.04%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
HNDRX ranks 68 for risk / return — better than 68% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Horizon Defined Risk Fund (HNDRX) 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.
| HNDRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 2.78 | +0.12 |
| Martin ratioReturn relative to average drawdown | 13.63 | 12.44 | +1.19 |
Dividends
Dividend History
Horizon Defined Risk Fund provided a 0.20% dividend yield over the last twelve months, with an annual payout of $0.18 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.18 | $0.18 | $0.07 | $0.14 | $0.21 | $0.18 | $0.33 | $0.30 | $0.28 |
Dividend yield | 0.20% | 0.21% | 0.09% | 0.21% | 0.36% | 0.28% | 0.57% | 0.55% | 0.58% |
Monthly Dividends
The table displays the monthly dividend distributions for Horizon Defined Risk 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 | $0.18 | $0.18 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.07 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.14 | $0.14 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.21 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
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 Defined Risk 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 Defined Risk Fund was 20.71%, occurring on Mar 23, 2020. Recovery took 141 trading sessions.
The current Horizon Defined Risk Fund drawdown is 0.08%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -20.71%Mar 2020 | 1mo 2d | 6mo 23d | 7mo 25dFeb 2020 - Oct 2020 |
Bear market2022 | -13.99%Jun 2022 | 5mo 12d | 1y 5mo | 1y 10moJan 2022 - Nov 2023 |
2025 selloff2025 | -11.42%Apr 2025 | 1mo 17d | 2mo 2d | 3mo 19dFeb 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -9.69%Dec 2018 | 2mo 21d | 5mo 28d | 8mo 19dOct 2018 - Jun 2019 |
2024 pullback2024 | -4.49%Aug 2024 | 19d | 10d | 29dJul 2024 - Aug 2024 |
Drawdown Indicators
| HNDRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.71% | -56.78% | +36.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -9.10% | +4.62% |
Max Drawdown (3Y)Largest decline over 3 years | -11.42% | -18.90% | +7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -13.99% | -25.43% | +11.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.08% | -1.80% | +1.72% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -10.71% | +7.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.03% | -1.08% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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