| Investment Objective: |
The Horizon International Managed Risk ETF (the "International Managed Risk Fund" or the "Fund") seeks to provide total return and to limit exposure to downside risk. The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by utilizing two primary strategies: (1) the Equity Strategy, and (2) the Risk Assist Strategy. The Fund invests primarily in equity securities of non-U.S. companies across developed and emerging markets. In addition to investing in the equity securities of non-U.S. companies directly, the Fund may also gain exposure to such companies by investing in American Depositary Receipts ("ADRs") and in ETFs with exposure to such companies. The Fund may also invest in equity securities of U.S. companies that derive a significant portion of their revenue from international markets. The Fund's Risk Assist Strategy seeks to reduce downside risk by adjusting the Fund's exposure to equity markets during periods of increased market volatility or heightened risk, as determined by Horizon. Horizon will opportunistically allocate Fund assets between the Equity Strategy and the Risk Assist Strategy in an effort to reduce downside risk. |
