Morningstar

Horizon Defensive Core Fund Advisor Class HESAX

Medalist Rating as of Aug 31, 2026 See Horizon Investments Investment Hub

Strategy

The investment seeks to capture the majority of returns associated with U.S. equity market investments, while mitigating downside risk through the use of a risk overlay strategy (the “Risk Assist® strategy”). The fund will utilize an active management strategy that invests primarily in common stocks of large and mid-cap U.S. companies that exhibit high quality and growth characteristics.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
HESGX	Horizon Defensive Core Fund Investor Class	No Load	Open			Dec 27, 2019	$444.00M	0.930%	Low	$2,500	−$37.34M
HESAX	Horizon Defensive Core Fund Advisor Class	No Load	Open			Jan 8, 2020	$47.65M	1.080%	Low	$2,500	−$781,897.26

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