What this ETF is trying to do

The HORIZON NASDAQ-100 DEFINED RISK ETF (ticker: QGRD) is an exchange-traded fund listed on the NASDAQ. While the specific investment strategy details are not fully detailed in the provided data, it is categorized as an ETF rather than a leveraged or inverse fund.

What the numbers show

The current price of QGRD is $30.66. Looking at how the share price has moved, we can see some growth over the last year:

• Year-to-Date (YTD) Price Return: The share price has increased by approximately 15.03%.

• One-Year Price Return: The share price has increased by approximately 13.23%.

• Estimated Price from Roughly One Year Ago: Based on reconstructed data, the price was approximately $27.08 one year ago.

It is important to distinguish between "price return" and "total return." Price return only tracks the change in the share price itself. Total return includes both the price change and any distributions (cash payments) made to investors.

For QGRD, the one-year total return was approximately 14.98%, which is slightly higher than the one-year price return of 13.23%. The YTD total return was approximately 15.03%, matching the YTD price return.

Income and distribution explanation

QGRD provides some cash distributions to investors. The distribution yield is approximately 1.36%. This number represents the cash distributions relative to the current ETF price.

The data shows that the distribution frequency is "Irregular / less frequent," with only one payout recorded in the last 12 months. The trailing distribution amount was approximately $0.42. Because the frequency is irregular, investors should not rely on a predictable schedule for this income.

NAV erosion explanation

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, regarding price erosion (the decline in the market price of the shares), the fund shows a "good" status. The erosion-risk score is 100, and the label indicates "No price erosion detected." There is no severe erosion-risk flag for this ETF.

Pros

• Positive Price Growth: The fund has shown both year-to-date and one-year price increases.

• Low Price Erosion Risk: The erosion-risk score suggests the share price has not been steadily declining.

Cons

• Irregular Income: The distributions are described as irregular and less frequent, which may make it difficult to plan for consistent cash flow.

• Limited Holdings Data: The fund shows a very small number of total holdings (1), with "FIRST AMERICAN GOVERNMENT OBLIGS X" making up 4% of the weight.

Beginner takeaway

QGRD has recently seen its share price increase. While it does pay distributions, they do not happen on a regular schedule. When looking at this ETF, remember that the distribution yield is separate from the total return, and a rising share price has been observed over the past year.