HADRX Performance — Horizon Defined Risk Fund, Advisor Class
Data updated: 2026-07-10
HADRX returned +4.72% year to date and +13.56% over one year to May 2026. Annualised returns are +13.06% over 3 years and +8.77% over 5 years. The fund trailed its US Large Blend category average: $100 invested three years ago grew to $145, against $165 for the category, and to $114 over one year, against $122. Volatility over the past three years was 5.66% a year. In the 12 months to May 2026 the fund took in a net $185.6M, and assets reached $1.06B.
HADRX Growth of $100
What $100 invested in Horizon Defined Risk Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Blend category average over the same months.
| Period | HADRX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $114 | $122 |
| 3 years (Jun 2023 – May 2026) | $145 | $165 |
| 5 years (Jun 2021 – May 2026) | $152 | $164 |
| Since data start (Sep 2019 – May 2026) | $176 | $229 |
HADRX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +4.72% |
| 1 year | +13.56% |
| 3 years (annualised) | +13.06% |
| 5 years (annualised) | +8.77% |
HADRX Annual Returns
Calendar-year total returns of Horizon Defined Risk Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +4.72% |
| 2025 | +10.61% |
| 2024 | +15.23% |
| 2023 | +14.75% |
| 2022 | −9.15% |
| 2021 | +12.88% |
| 2020 | +7.05% |
| 2019 (Sep–Dec) | +4.79% |
HADRX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.1% | 0.0% | −2.7% | +4.8% | +1.6% | — | — | — | — | — | — | — |
| 2025 | +1.6% | −0.5% | −2.2% | 0.0% | +3.1% | +2.3% | +1.1% | +0.9% | +1.9% | +1.3% | +0.4% | +0.3% |
| 2024 | +1.1% | +2.1% | +1.3% | −0.9% | +2.7% | +1.6% | +0.6% | +2.1% | +1.5% | 0.0% | +3.1% | −0.7% |
| 2023 | +3.6% | −1.0% | +1.6% | +1.3% | +0.5% | +2.6% | +0.9% | +0.5% | −1.9% | −0.4% | +4.2% | +2.2% |
| 2022 | −3.1% | −3.6% | +1.8% | −5.0% | +0.8% | −3.5% | +4.1% | −0.9% | −4.2% | +4.3% | +3.1% | −2.8% |
| 2021 | −0.7% | +1.0% | +0.3% | +2.4% | +0.2% | +1.8% | +1.6% | +1.6% | −2.3% | +4.0% | −0.4% | +2.9% |
| 2020 | −0.3% | −6.2% | −6.2% | +5.6% | +2.1% | +0.5% | +3.4% | +2.9% | −0.5% | −1.8% | +5.8% | +2.3% |
| 2019 | — | — | — | — | — | — | — | — | +0.7% | +1.4% | +1.6% | +1.1% |
HADRX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.66%
- 3-year Sharpe ratio: 1.51 (vs 4.5% risk-free rate)
- Best month: +4.79% (Apr 2026)
- Worst month: −2.73% (Mar 2026)
HADRX Fund Flows
Monthly money in and out of Horizon Defined Risk Fund, from SEC Form N-PORT.
- 12-month net flow: $185.6M
- 12-month gross sales (incl. reinvestments): $335.6M
- Sales ÷ redemptions: 2.24×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $26.3M | $12.3M | $14.0M |
| Apr 2026 | $31.6M | $11.9M | $19.6M |
| Mar 2026 | $25.1M | $15.7M | $9.4M |
| Feb 2026 | $33.5M | $13.9M | $19.7M |
| Jan 2026 | $32.5M | $14.4M | $18.1M |
| Dec 2025 | $23.7M | $10.6M | $13.1M |
| Nov 2025 | $29.1M | $13.3M | $15.8M |
| Oct 2025 | $23.5M | $11.0M | $12.4M |
| Sep 2025 | $24.9M | $12.8M | $12.1M |
| Aug 2025 | $31.5M | $9.9M | $21.6M |
| Jul 2025 | $27.7M | $15.3M | $12.4M |
| Jun 2025 | $26.3M | $8.9M | $17.4M |
HADRX Assets Under Management
Net assets of Horizon Defined Risk Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.06B |
| 2026-02-28 | $984.34M |
| 2025-11-30 | $921.82M |
| 2025-08-31 | $849.61M |
| 2025-05-31 | $763.95M |
| 2025-02-28 | $722.00M |
| 2024-11-30 | $691.28M |
| 2024-08-31 | $649.02M |
| 2024-05-31 | $598.58M |
| 2024-02-29 | $559.71M |
| 2023-11-30 | $508.77M |
| 2023-08-31 | $499.18M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.