This version of the Terms of Use is in effect as of January 1, 2016.

Please read these Terms of Use carefully, as they govern your use of this website and the pages within it (the “Website”).

  1. These Terms of Use set out the terms and conditions on which Horizons ETFs Management (Canada) Inc. (“Horizons”, “we”, “our” and “us”) agree to make available and you agree to access and use this Website. By using the Website, you agree to be legally bound by these Terms of Use and you agree to the processing of your personal data in accordance with our Privacy Policy at http://www.horizonsetfs.com/legal/Privacy-of-information . If you do not agree with these Terms of Use or our Privacy Policy, you should not use the Website.

  2. The products and services described on this Website are available only in jurisdictions where they may be lawfully offered for sale. The information on this Website is not an offer or solicitation by anyone in any jurisdiction in which an offer or solicitation cannot lawfully be made, or to any person to whom it is unlawful to make a solicitation. If you choose to access this Website from outside Canada, you are responsible for compliance with applicable local, national or international laws and regulations.

  3. The information contained on this Website is for informational purposes only and is not intended to provide or constitute specific legal, accounting, financial or tax advice for you and should not be relied upon in that regard. Decisions based on information contained on this Website are the sole responsibility of the visitor. In exchange for using this Website, the visitor agrees to indemnify and hold Horizons, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to legal fees) arising from your use of this Website, from your violation of these Terms of Use or from any decisions that the visitor makes based on such information.

  4. Although care has been taken in preparing and maintaining the information and materials contained on this Website, they are provided on an "as is" basis, without warranty of any kind either express or implied. In particular, all responsibility or liability for any damages caused to computer systems, software or electronic files by computer viruses, worms, Trojan horses or other items or forces of an intrusive, disruptive or destructive nature is disclaimed.

  5. We may amend these Terms of Use from time to time. If we do, we will publish the changes on the Website. It is your responsibility to check the Website periodically for changes to these Terms of Use.  Amendments to these Terms of Use will take effect upon their publication to this Website, and from then on will govern the relationship between you and us in respect of your use of the Website. If you do not agree with the amended Terms of Use, you must not continue to use the Website after the amendments take effect.

  6. You agree not to:
    • use or access the Website for any fraudulent or unlawful purpose;
    • use or access the Website to impersonate any person or entity
    • interfere with or disrupt the operation of the Website or access to it
    • transmit or otherwise make available in connection with the Website or access to it any virus, worm, Trojan horse, time bomb, spyware, or other harmful computer code, file, or program;
    • restrict or inhibit the ability of any other person to access or use the Website;
    • modify, adapt or translate any portion of the Website; or
    • remove, obscure or modify any copyright, trade mark, or other proprietary rights notice from the Website.

  7. From time to time, the Website may include links to third party websites. These links are provided for your convenience only and do not signify that we endorse such third party websites. We do not review such third party websites and you acknowledge and agree that:
    • we are not responsible for such websites, including the terms on which such websites are made available and the privacy policies of such websites, and do not control their content or availability;
    • we make no representation, warranty or condition, either express or implied, in relation to any goods or services or information received from such websites; and
    • if you access any such websites, you do so entirely at its own risk.

  8. The intellectual property rights in the Website and copyright in all material stored, displayed and accessible on the Website is either owned us or duly licensed by third parties. All such rights are reserved.

  9. The rights granted to you herein terminate immediately upon any violation by you of these Terms of Use. Horizons, in its sole discretion, reserves the right to temporarily or permanently terminate your access to and use of this Website at any time and for any reason whatsoever, without notice or liability. We will not be liable to you or any third party for any termination of your access to or use of this Website.

  10. NEITHER HORIZONS NOR ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, OR ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS WILL BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, OR EXEMPLARY DAMAGES, INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, REVENUE, INCOME, GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES, OR DAMAGES CAUSED BY THEFT, UNAUTHORIZED ACCESS, SYSTEMS FAILURE, OR COMMUNICATIONS LINE FAILURE, OR THE COST OF PROCURING SUBSTITUTE GOODS OR SERVICES, CAUSED BY THE USE OF OR INABILITY TO USE THE WEBSITE, MATERIALS OR ANY PRODUCTS OR SERVICES PROVIDED HEREIN, OR ANY OTHER MATTER RELATING TO THIS SITE, EVEN IF HORIZONS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. TO THE EXTENT THAT SOME JURISDICTIONS DO NOT ALLOW CERTAIN EXCLUSIONS OR LIMITATIONS OF DAMAGES, SOME OF THE ABOVE EXCLUSIONS OR LIMITATIONS MAY NOT APPLY TO YOU. TO THE EXTENT THAT A JURISDICTION DOES NOT PERMIT THE EXCLUSION OR LIMITATION OF LIABILITY AS SET FORTH HEREIN, THE LIABILITY OF HORIZONS AND ITS AFFILIATES, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, LICENSORS, AND ANY THIRD-PARTY INFORMATION PROVIDERS AND VENDORS IS LIMITED TO THE EXTENT PERMITTED BY LAW IN SUCH JURISDICTIONS.

    YOU HEREBY RELEASE, REMISE AND FOREVER DISCHARGE HORIZONS AND ALL OF ITS RESPECTIVE AGENTS, DIRECTORS, OFFICERS, EMPLOYEES, INFORMATION PROVIDERS, SERVICE PROVIDERS, SUPPLIERS, LICENSORS AND LICENSEES, AND ALL OTHER RELATED, ASSOCIATED, OR CONNECTED PERSONS FROM ANY AND ALL MANNER OF RIGHTS, CLAIMS, COMPLAINTS, DEMANDS, CAUSES OF ACTION, PROCEEDINGS, LIABILITIES, OBLIGATIONS, LEGAL FEES, COSTS, AND DISBURSEMENTS OF ANY NATURE AND KIND WHATSOEVER AND HOWSOEVER ARISING, WHETHER KNOWN OR UNKNOWN, WHICH NOW OR HEREAFTER EXIST, WHICH ARISE FROM, RELATE TO, OR ARE CONNECTED WITH YOUR USE OF THE WEBSITE.

  11. The laws of the Province of Ontario and the applicable federal laws of Canada, without regard to principles of conflict of laws, govern these Terms of Use and any dispute that might arise between you and Horizons. If you take legal action relating to these Terms of Use, you agree to file such action before the Courts of the Province of Ontario sitting in the City of Toronto and in no other venue, and you consent and submit to the personal jurisdiction of those courts for the purposes of litigating any such action.
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Horizons ETFs is a Member of Mirae Asset Global Investments. Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

The Horizons Exchange Traded Products consist of the Horizons Index ETFs ("Index ETFs"), 2x Daily Bull and -2x Daily Bear ETFs ("2x Daily ETFs"), Inverse ETFs ("Inverse ETFs"), VIX ETFs (defined below) and active ETFs. The 2x Daily ETFs and certain other Horizons Exchange Traded Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These Horizons Exchange Traded Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, which, where applicable, are described in their respective prospectuses. Each 2x Daily ETF seeks a return, before fees and expenses, that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "Target") for a single day. Each Index ETF or Inverse ETF seeks a return that is 100% or -100%, respectively, of the performance of a Target. Due to the compounding of daily returns, a 2x Daily ETF's or Inverse ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of their respective Target(s) for the same period. The Horizons Exchange Traded Products whose Target is the S&P 500 VIX Short-Term Futures Index™ (the "VIX ETFs"), one of which is a 2x Daily ETF and one of which is an Index ETF, as described in their prospectus, are speculative investment tools that are not conventional investments. The VIX ETFs' Target is highly volatile. As a result, the VIX ETFs are not generally viewed as stand-alone long-term investments. Historically, the VIX ETFs' Target has tended to revert to a historical mean. As a result, the performance of the VIX ETFs' Target is expected to be negative over the longer term and neither the VIX ETFs nor their Target are expected to have positive long term performance. Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

*The indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The rates of return shown in the table are not intended to reflect future values of the ETF or returns on investment in the ETF. Only the returns for periods of one year or greater are annualized returns.