ETF Evaluator:
Horizon Expansion Leaders ETF (EXPN)
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(as of )
Best Performing in Large Blend Over the Last Year
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ETF Details
Horizon Expansion Leaders ETF Overview
Horizon Expansion Leaders ETF (EXPN) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Horizon Funds launched the ETF in 2026.
The investment seeks capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective primarily by investing in equity securities of U.S. large-capitalization companies (“Equity Strategy”) and, opportunistically, through an options overlay designed to provide commodity-linked return exposure. It is non-diversified.
About Horizon Expansion Leaders ETF (EXPN)
There are 4 members of the management team with an average tenure of 0.05 years: Scott Ladner (2026), Zachary Hill (2026), Clark Allen (2026) and Mike Dickson (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Horizon Expansion Leaders ETF has 59 securities in its portfolio. The top 10 holdings constitute 35.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Horizon Expansion Leaders ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Horizon Expansion Leaders ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.9% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Horizon Expansion Leaders ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $82 million in total assets, which is below the $14 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
EXPN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Horizon Expansion Leaders ETF expense ratio is above average compared to funds in the Large Blend category. Horizon Expansion Leaders ETF has an expense ratio of 0.75%, which is 80% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Horizon Expansion Leaders ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 155% for the Large Blend category.
Recently, in the month of August 2026, Horizon Expansion Leaders ETF returned 0.0%, which earned it a grade of NA, as the Large Blend category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Horizon Expansion Leaders ETF has a trailing yield of 0.00%, which is below the 1.22% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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EXPN Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| EXPN Return (NAV) | na | na | na | na | na | na |
| EXPN Return (Price) | na | na | na | na | na | na |
| NAV +/- Price Return | na | na | na | na | na | na |
| Large Blend Avg | 2.4% | 1.7% | 18.1% | 19.0% | 11.1% | 13.9% |
| EXPN Grade (NAV) | na | na | na | na | na | na |
| +/- Category (NAV) | na | na | na | na | na | na |
| EXPN Tax-Cost Ratio | na | na | na | na | na | na |
EXPN Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EXPN Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| EXPN Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 12.2% | 15.4% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| EXPN Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 83 Mil |
| Share Class Assets: | $ 83 Mil |
| Turnover: | na |
| Expense Ratio: | 0.75% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 0.1 years | |||
| Average Tenure: 0.1 years | |||
| Managers (Year): Ladner Scott (2026), Hill Zachary (2026), Allen Clark (2026), Dickson Mike (2026) | |||
Portfolio Composition (as of 8/31/26)
| # of Holdings: | 59 |
| % in Top 10 Holdings: | 35.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Horizon Funds |
| Phone Number: | 855-754-7932 |
| Website: | www.horizonmutualfunds.com |
| Inception Date: | August 11, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.42% |
