Horizons ReSolve Adaptive Asset Allocation ETF

HRAA’s investment objective is to seek long term capital appreciation by investing, directly or indirectly, in major global asset classes including but not limited to equity indexes, fixed income indexes, interest rates, commodities and currencies. Horizons HRAA provides exposure to major global asset classes including equity indexes, fixed income indexes, interest rates, commodities and currencies. Horizons HRAA gains exposure to these asset classes by investing in derivatives and securities. Derivative instruments may include futures contracts and forward agreements. Horizons HRAA may invest in instruments that provide exposure to both domestic and foreign markets, including emerging markets. Horizons HRAA will also hold a large portion of its assets in cash, money market mutual funds, U.S. treasury securities, or other cash equivalents, some or all of which will serve as margin or collateral for Horizons HRAAs investments.