HIDRX — Horizon Defined Risk Fund
Data updated: 2026-07-10
HIDRX — Horizon Defined Risk Fund. United States Large Cap Blend / Core Equity · $1.06B AUM. Holdings, fees, performance and SEC filings.
HIDRX Fund Overview
HIDRX — Horizon Defined Risk Fund is a US mutual fund managed by Horizon Funds, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Horizon Funds
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $1.06B
- Ticker: HIDRX
- SEC CIK: 0001643174
- SEC series ID: S000055167
- Share class ID: C000173474
HIDRX Investment Objective and Strategy
Horizon Defined Risk Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Horizon Funds.
Investment objective
Investment Objective: The investment objective of the Horizon Defined Risk Fund (the Defined Risk Fund) is capital appreciation and capital preservation.
Principal investment strategy
The Defined Risk Funds investment adviser, Horizon Investments, LLC (Horizon), seeks to achieve the Defined Risk Funds investment objective by investing in a broadly diversified portfolio of equity securities (the Equity Portfolio), while seeking to generate income, hedge volatility and reduce the downside risk of the Equity Portfolio by buying and selling put and call options (the Options Portfolio). Horizon expects that the combination of the returns from the Equity Portfolio and the potential cash flow, reduced volatility and downside protection from the Options Portfolio will provide the Defined Risk Fund with the potential to capture a majority of the returns associated with the general equity markets with reduced risk and volatility. Equity Portfolio Securities in the Equity Portfolio may include common and preferred stock, exchange-traded funds (ETFs), convertible debt securities, American Depositary Receipts (ADRs), and securities issued by real estate investment trusts (REITs).
Horizon selects equity securities for the Defined Risk Funds Equity Portfolio by assessing each securitys projected return and expected risk using a multi-disciplined approach consisting of economic, quantitative and fundamental analysis. The Equity Portfolio typically focuses on investing in individual stocks. However, the Equity Portfolio may also invest in ETFs or baskets of securities, preferred stock, convertible debt securities, ADRs and REITs when Horizon believes such investments may offer higher return and/or lower risk than individual securities or when Horizon believes such investments will provide strategic exposure to a desired sector or market segment. Potential ETFs are reviewed for sufficient trading liquidity and fit within the overall diversification needs of the Equity Portfolio prior to investment.
Horizon selects securities for the Equity Portfolio without restriction as to an issuers country or capitalization. The Defined Risk Fund will typically sell equity securities to achieve a desired diversification, to secure gains or limit potential losses or when Horizon otherwise believes it is in the best interest of the Defined Risk Fund. Horizon expects to engage in frequent buying and selling of securities to achieve the Defined Risk Funds investment objective. Options Portfolio The Options Portfolio will generally consist of options collars, which are options combinations comprised of a written call option or call spread and a purchased put option or put spread on the same underlying security. To implement an options collar, the Defined Risk Fund will write a call option or call spread on the underlying security with a strike price above the price of the underlying security and purchase a corresponding put option or put spread on the same underlying security with a strike price below the price of that security.
A call or put spread is an option combination whereby the Defined Risk Fund buys an option for investment purposes and writes another option on the same underlying security with the same expiration date, but a different strike price (e.g., a higher strike price in the case of a call and a lower strike price in the case of a put), as a way to offset some of the cost of purchasing the first option. When the Defined Risk Fund writes (sells) a call or put option, it receives a premium from the purchaser, which may be used to offset the price of purchasing other options. In addition to the cash flow generated by the selling options, the Defined Risk Fund will write call options to seek to reduce the volatility of the Equity Portfolio, especially in down or sideways markets. Writing call options will, however, reduce the Defined Risk Funds ability to profit from increases in the value of the Equity Portfolio because the Defined Risk Fund will begin to accrue liabilities to the purchaser of the call option once the price of the underlying security rises above the options strike price.
The Defined Risk Fund will buy corresponding put options in an attempt to protect the Defined Risk Fund from significant market declines in the Equity Portfolio that may occur over short periods of time. The Defined Risk Fund will primarily use exchange-traded options on indexes, ETFs and other individual equity securities, but may also use over-the-counter options when Horizon deems it advisable to do so. The Defined Risk Fund will typically increase its use of options collars when the Advisers research indicates that markets are likely to experience volatility, and there is no maximum or minimum amount of assets that the Defined Fund may use to invest in options collars. Horizon uses quantitative techniques to screen the available option universe for options collars that Horizon believes offer the best risk/return characteristics for the Equity Portfolio, taking into account, among other things, the following characteristics: ?
liquidity of underlying instruments ? basis risk/tracking error between portfolio & options positions ? volatility forecasts ? option relative valuation ? time to maturity & strike prices The Defined Risk Fund typically expects to allow the options in the Options Portfolio to expire, but may seek to close out options positions ahead of expiration when Horizon believes it is advantageous to do so. There is no limit on the number or size of the options transactions in which the Fund may engage; however, the Fund will not use options for the purpose of increasing the Funds leverage with respect to any portfolio investment.
HIDRX Holdings
Top 10 holdings of Horizon Defined Risk Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp | 7.22% |
| Apple Inc | 6.46% |
| Roundhill Magnificent Seven ET | 6.40% |
| Microsoft Corp | 4.57% |
| Broadcom Inc | 3.33% |
| Amazon.com Inc | 3.12% |
| Alphabet Inc | 2.84% |
| Alphabet Inc | 2.28% |
| Micron Technology Inc | 1.72% |
| Meta Platforms Inc | 1.49% |
HIDRX Portfolio Allocation
Asset-class allocation of Horizon Defined Risk Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 103.4% |
| Cash & Equivalents | 0.6% |
HIDRX Performance
Total returns for HIDRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 4.8% |
| 1 year | 13.7% |
| 3 years (annualised) | 13.2% |
| 5 years (annualised) | 9.0% |
HIDRX Risk Information
Risk metrics for HIDRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.0%
HIDRX Costs and Fees
HIDRX costs about $92 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.92%
- Gross expense ratio: 0.92%
- Portfolio turnover: 13%
- Brokerage commissions: 0.82 bps of average net assets (SEC N-CEN)
HIDRX Cashflows
Over the 12 months to 2026-05, Horizon Defined Risk Fund had net inflows of $185.64M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | $14.00M |
| 2026-04 | $19.61M |
| 2026-03 | $9.37M |
| 2026-02 | $19.66M |
| 2026-01 | $18.13M |
| 2025-12 | $13.11M |
HIDRX Debt Constituents
No individual debt constituents are reported in Horizon Defined Risk Fund's latest SEC N-PORT filing.
HIDRX Prospectus and SEC Filings
Official Horizon Defined Risk Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-07-08
- Prospectus (485BPOS) — filed 2026-03-26
- Prospectus supplement (497) — filed 2025-04-01
- Portfolio holdings (N-PORT) — filed 2026-07-10
- Portfolio holdings (N-PORT) — filed 2026-04-29
- Portfolio holdings (N-PORT) — filed 2026-01-14
- Annual census (N-CEN) — filed 2026-02-13
- Annual census (N-CEN) — filed 2025-02-13
Related Funds
Other United States Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.