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Launched

Horizon Expedition Plus ETF

HBTANYSE ArcaB

$33.45+0.04 (+0.12%)

As of Oct 13, 2026, 3:57 PM

B57/ 100

Rank 19 of 51 in Active Option Income

B57/100Rank 19 of 51inActive Option Income
Intraday session: up, 31 prints from 33.41 to 33.45. Range 33.15 to 33.47. Use the arrow keys to read each point.33.1533.2033.2533.3033.3510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$261M
1Y total return
+22.4%
Yield · Last 12 months
Data unavailable
Holdings
206
Avg volume · 30D
0.1M sh
NAV per share
$33.56
52W range
low $25.52high $33.84
Launched

The ETF.net HBTA Grade

Based on 5 of 6 pillars

B

Score 57 out of 100

Category
Active Option Income⁠
Rank
19 of 51
Six-pillar profile for HBTA. Scores out of 100: Cost 60, Risk 42, Mission not scored, Tradability 71, Holdings 43, Durability 73. Strongest: Durability (73). Weakest: Risk (42). Based on 5 of 6 pillars.

Score 57 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B60 out of 100
    Rank 21 of 51

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C42 out of 100
    Rank 30 of 46

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A71 out of 100
    Rank 10 of 51

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C43 out of 100
    Rank 29 of 42

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A73 out of 100
    Rank 10 of 51

Our read on HBTA

ETF.net Research

BAn options-income fund that isn't chasing yield. Horizon runs an active large-cap U.S. stock book and both buys and sells puts and calls, with income in service of total return instead of a fat monthly check.

Stated mandate

The Fund seeks total return through an actively managed portfolio focused primarily on large-cap U.S. equities, while buying and selling put and call options to generate income.

Why people hold it

  1. 01Two-sided options book: the fund buys as well as sells puts and calls, a wider toolkit than the sell-calls-and-collect standard in this corner of the market.horizonmutualfunds.com
  2. 02The stated goal is total return, with options premium as fuel rather than the headline. Distributions come annually or semiannually, so there's no monthly payout treadmill.
  3. 03At 0.85% a year, it undercuts the median fee in its options-income peer group, which is unusual for an actively managed derivative strategy.
  4. 04Shares change hands readily for a fund this young, and it sits in the upper half of a crowded 52-fund options-income cohort on our review.

Worth knowing

  1. 01Cheap for an active fund, not cheap outright: index-anchored rivals like PAPI (0.29%) and TCAL (0.34%) charge a fraction of the fee.
  2. 02Launched January 2025, so the track record is thin, and with no benchmark index to measure against, results ride on the manager's judgment.
  3. 03The long side of the options book costs premium to maintain. That spending is the price of the positioning, and it comes out of the portfolio either way.horizonmutualfunds.com

HBTA Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
206
Top-10 weight
51%
Largest holding
MAGS9.1%

Geography

  • United States98.06%
  • Ireland0.82%
  • Singapore0.71%
  • Switzerland0.41%
The fund’s holdings, weight-ordered — page 1 of 14.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001MAGSRoundhill Magnificent Seven ETF9.09%317,786$24M8
002NVDANVIDIA Corp8.28%94,625$21M847
003MSFTMicrosoft Corp8.19%39,154$21M815
004GOOGLAlphabet Inc7.85%57,558$20M709
005—Amazon.com Inc4.92%48,991$13M6
006METAMeta Platforms Inc3.64%12,672$9M704
007MUMicron Technology Inc3.43%8,979$9M679
008—Advanced Micro Devices Inc2.75%11,949$7M5
009JPMJPMorgan Chase & Co.1.77%13,697$5M481
010VVisa Inc1.54%10,221$4M558
011INTCIntel Corp1.50%38,175$4M511
012PLTRPalantir Technologies Inc1.41%17,468$4M525
013LRCXLam Research Corp1.14%9,543$3M606
014—Applied Materials Inc1.11%5,787$3M5
015MAMastercard Inc1.02%4,427$3M526

Showing 1–15 of 206 holdings

HBTA Performance

Launched Jan 22, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
HBTA$12,236
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. HBTA $12,236. SPY $12,044. Use the arrow keys to read each point.$9,278$10,933$12,589Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HBTA. Periods over one year show the average yearly return.
PeriodHBTA
Year to date+15.3%
1 month+3.9%
3 months+1.6%
1 year+22.4%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HBTA
YearReturn barHBTA
2026 YTD+15.3%
2025+14.7%

History from Jan 23, 2025

HBTA in the news

Filtered to HBTA · Active Option Income

HBTA Dividends

Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.19. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.19

HBTA Risk

How much the fund’s monthly returns vary, scaled to a year.
20.0%
Annualised · 20 months to Sep 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.74
vs 3-month T-bills · 20 months to Sep 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−26.7%
20 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.43
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

HBTA Cost

Expense ratio0.85%
  • The middle half of Active Option Income funds
  • Median 0.95%

20 of the 51 Active Option Income funds charge less.

HBTA costs $85.00 a year on $10,000. The median Active Option Income fund costs $95.00.

Other funds in Active Option Income

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