HORIZON MANAGED RISK ETF

The Horizon Managed Risk ETF seeks to capture the majority of U.S. large-cap equity market returns while mitigating downside risk through a “Risk Assist®” strategy. The Managed Risk Fund is an actively managed exchange-traded fund (“ETF”) that pursues its objective by combining two complementary strategies: an Equity Strategy and the proprietary Risk Assist® Strategy. Under the Equity Strategy, the Fund primarily invests in large-cap U.S. equity securities identified through a multi-factor selection model emphasizing valuation, momentum, quality, volatility, and sentiment factors. The Risk Assist® Strategy systematically adjusts the Fund’s exposure based on real-time volatility signals, reducing equity exposure during periods of elevated market volatility and re-engaging when conditions normalize to participate in market recoveries.