QGRD ETF — Holdings & Analysis

The Horizon Nasdaq-100 Defined Risk ETF (QGRD) is an exchange-traded fund managed by Horizon Funds. Launched in July 2025, QGRD aims to provide capital appreciation and capital preservation by investing in companies within the Nasdaq-100 index, while also employing a defined risk strategy. However, as of March 2026, its top holding is First American Government Obligs X (FGXXX), suggesting a more conservative approach currently. The fund's objective is to offer investors exposure to the growth potential of the Nasdaq-100 while mitigating potential downside risks, although the current portfolio composition may not fully reflect this objective. Investors should monitor the fund's holdings to ensure alignment with its stated investment strategy.

The expense ratio for the Horizon Nasdaq-100 Defined Risk ETF (QGRD) is 0.85%. This means that for every $10,000 invested in the fund, $85 is used to cover the fund's operating expenses annually. While this provides the fund managers resources to actively manage the fund, it is important to note that the expense ratio is higher than the category average for equity ETFs, which is approximately 0.44%. the may be worth researching impact of this higher expense ratio on their overall returns, especially in a low-return environment.

As of March 2026, the top holding in the Horizon Nasdaq-100 Defined Risk ETF (QGRD) is First American Government Obligs X (FGXXX), comprising 0.08% of the fund's total assets. While this is the only holding explicitly listed, it suggests a significant portion of the fund may be held in cash or similar instruments. Investors should review the complete holdings list periodically to understand the fund's exposure to various assets and sectors. The fund's investment strategy aims to provide exposure to the Nasdaq-100, but the current top holding indicates a more conservative approach.

Whether QGRD is a suitable long-term investment depends on an individual investor's specific financial goals, risk tolerance, and investment horizon. The fund's objective is to provide capital appreciation and capital preservation within the Nasdaq-100. However, the expense ratio of 0.85% is higher than category averages, which can impact long-term returns. The fund's current holdings, with a significant allocation to First American Government Obligs X (FGXXX), suggest a more conservative approach. Investors should carefully consider these factors and monitor the fund's performance and holdings over time to determine if it aligns with their long-term investment objectives. Past performance does not guarantee future results.

QGRD differentiates itself through its defined risk approach within the Nasdaq-100. Compared to passively managed Nasdaq-100 ETFs, QGRD aims to provide downside protection, although its current holdings suggest a more conservative stance. Its expense ratio of 0.85% is higher than many passively managed Nasdaq-100 trackers, which typically have expense ratios below 0.20%. With AUM of $0.08 billion, QGRD is smaller than many of its competitors, which can impact liquidity and trading costs. Investors should compare QGRD's strategy, holdings, expense ratio, and AUM to those of other Nasdaq-100 ETFs and defined-outcome ETFs to determine the best fit for their investment needs.

As of March 2026, the Horizon Nasdaq-100 Defined Risk ETF (QGRD) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any dividends to its shareholders. Investors seeking income-generating investments may want to consider other ETFs with a higher dividend yield. However, QGRD's primary objective is capital appreciation and capital preservation, rather than income generation.