AIMNX vs. ARANX

Last updated Jun 24, 2026

AIMNX (Horizon Active Income Fund) and ARANX (Horizon Active Risk Assist Fund) are both mutual funds - AIMNX is a Intermediate Core-Plus Bond fund managed by Horizon Investments, while ARANX is a Diversified Portfolio fund managed by Horizon Investments. Over the past 10 years, AIMNX returned 0.62%/yr vs 8.32%/yr for ARANX. At a 0.25 correlation, their price movements are largely independent. AIMNX charges 0.89%/yr vs 1.17%/yr for ARANX.

Performance

AIMNX vs. ARANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Active Income Fund (AIMNX) and Horizon Active Risk Assist Fund (ARANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIMNX achieves a 0.28% return, which is significantly lower than ARANX's 11.00% return. Over the past 10 years, AIMNX has underperformed ARANX with an annualized return of 0.62%, while ARANX has yielded a comparatively higher 8.32% annualized return.

AIMNX

• 1D: -0.37%
• 1M: 0.54%
• YTD: 0.28%
• 6M: 0.28%
• 1Y: 3.99%
• 3Y*: 3.50%
• 5Y*: -0.83%
• 10Y*: 0.62%

ARANX

• 1D: -0.14%
• 1M: 1.09%
• YTD: 11.00%
• 6M: 10.25%
• 1Y: 24.40%
• 3Y*: 16.57%
• 5Y*: 7.84%
• 10Y*: 8.32%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIMNX vs. ARANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIMNX Horizon Active Income Fund	0.28%	5.04%	1.77%	5.03%	-14.95%	-0.78%	7.65%	8.67%	-4.77%	4.10%
ARANX Horizon Active Risk Assist Fund	11.00%	14.03%	13.60%	16.70%	-19.38%	20.69%	4.25%	12.63%	-7.49%	18.06%

Correlation

The correlation between AIMNX and ARANX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Sep 2, 2014	0.25

Over the past year, AIMNX and ARANX have become more correlated (0.49) than their long-term average of 0.25, meaning their price movements have been converging.

Return for Risk

AIMNX vs. ARANX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIMNX

AIMNX Risk / Return Rank: 18
AIMNX Sharpe Ratio Rank: 18
AIMNX Sortino Ratio Rank: 18
AIMNX Omega Ratio Rank: 16
AIMNX Calmar Ratio Rank: 18
AIMNX Martin Ratio Rank: 19

ARANX

ARANX Risk / Return Rank: 48
ARANX Sharpe Ratio Rank: 48
ARANX Sortino Ratio Rank: 44
ARANX Omega Ratio Rank: 45
ARANX Calmar Ratio Rank: 48
ARANX Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIMNX vs. ARANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Active Income Fund (AIMNX) and Horizon Active Risk Assist Fund (ARANX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AIMNX	ARANX	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.87	-0.76
Sortino ratio: Return per unit of downside risk	1.65	2.58	-0.93
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	1.39	2.53	-1.13
Martin ratio: Return relative to average drawdown	4.43	10.73	-6.30

AIMNX vs. ARANX - Sharpe Ratio Comparison

The current AIMNX Sharpe Ratio is 1.11, which is lower than the ARANX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of AIMNX and ARANX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIMNX vs. ARANX - Drawdown Comparison

The maximum AIMNX drawdown since its inception was -19.68%, smaller than the maximum ARANX drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for AIMNX and ARANX.

Drawdown Indicators

	AIMNX	ARANX	Difference
Max Drawdown Largest peak-to-trough decline	-19.68%	-21.50%	+1.82%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-10.13%	+7.07%
Max Drawdown (3Y) Largest decline over 3 years	-6.78%	-15.34%	+8.56%
Max Drawdown (5Y) Largest decline over 5 years	-19.63%	-21.50%	+1.87%
Max Drawdown (10Y) Largest decline over 10 years	-19.68%	-21.50%	+1.82%
Current Drawdown Current decline from peak	-5.27%	-1.62%	-3.65%
Average Drawdown Average peak-to-trough decline	-5.06%	-6.44%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	2.38%	-1.42%

Volatility

AIMNX vs. ARANX - Volatility Comparison

The current volatility for Horizon Active Income Fund (AIMNX) is 1.29%, while Horizon Active Risk Assist Fund (ARANX) has a volatility of 5.55%. This indicates that AIMNX experiences smaller price fluctuations and is considered to be less risky than ARANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIMNX	ARANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.29%	5.55%	-4.26%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	11.48%	-8.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.86%	13.70%	-9.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.62%	12.91%	-7.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.10%	12.71%	-7.61%

AIMNX vs. ARANX - Expense Ratio Comparison

AIMNX has a 0.89% expense ratio, which is lower than ARANX's 1.17% expense ratio.

Dividends

AIMNX vs. ARANX - Dividend Comparison

AIMNX's dividend yield for the trailing twelve months is around 4.09%, less than ARANX's 8.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIMNX Horizon Active Income Fund	4.09%	4.03%	4.29%	3.78%	1.69%	1.88%	1.86%	2.73%	3.51%	2.47%	1.60%	1.66%
ARANX Horizon Active Risk Assist Fund	8.23%	9.14%	10.35%	0.83%	0.53%	8.22%	0.37%	1.00%	3.91%	4.70%	0.86%	1.06%

Frequently Asked Questions

Can I hold both AIMNX and ARANX in my portfolio?

AIMNX and ARANX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIMNX or ARANX?

ARANX has higher volatility (5.55%) compared to AIMNX (1.29%). In terms of maximum drawdown, AIMNX dropped -19.68% vs ARANX's -21.50%.

Which has better risk-adjusted returns?

ARANX currently has the higher Sharpe Ratio (1.87 vs 1.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.