Direct from the Manager

Brokers and dealers who have entered into a designated broker and/or underwriter agreement with Horizons ETFs Management (Canada) Inc. (the “Manager”), subject to certain conditions outlined in the Prospectus, can subscribe for or redeem a prescribed number of units (PNUs) directly with the Manager.

Creation and Redemption of ETF Units 

Investors do not purchase and redeem ETF units directly with the investment manager in the same way as they do with traditional mutual funds. ETFs are designed to minimize portfolio turnover and related transaction costs, and they do this by restricting the direct creation and redemption of units to large investors, typically banks or brokers known as "Authorised Participants", and market makers. These institutions can create and redeem ETF units in line with the daily demand for units, helping the ETFs to trade with maximum liquidity. Brokers, dealers and investors, subject to certain conditions outlined in the Prospectus, can redeem a PNU. In respect of the Horizons Active Floating Rate Senior Loan ETF ("HSL"), cash subscriptions by Dealers or Designated Brokers may, at the sole discretion of the Manager, be subject to a creation charge of up to 0.25% of the value of the cash subscription order, payable to HSL. Redemptions may be subject to an administration fee of up to 0.25% of the redemption proceeds of the Horizons ETF units.

The administration fee schedule is as follows or it can be downloaded here:

Ticker
Symbol
Creation
Administration Fee
Redemption
Administration Fee
Creation
Unit Size
DLR 0.000% 0.0000% 25,000
FOUR 0.000% 0.0000% 25,000
HAB 0.000% 0.0000% 25,000
HAC 0.000% 0.0000% 25,000
HAD 0.000% 0.0000% 25,000
HAF 0.000% 0.0000% 25,000
HAJ 0.000% 0.0000% 25,000
HAL 0.000% 0.0000% 25,000
HAU 0.000% 0.0000% 25,000
HAZ 0.000% 0.0000% 25,000
HBAL 0.000% 0.0000% 25,000
HBB Up to 0.10%
plus costs
Up to 0.10%
plus costs
50,000
HBD 0.000% 0.0000% 25,000
HBU 0.000% 0.0000% 25,000
HCN  0.000% 0.0000% 40,000
HCON 0.000% 0.0000% 25,000
HEA.U 0.000% 0.0000% 25,000
HED  0.000% 0.0000% 20,000
HEE 0.000% 0.0000% 25,000
HEF 0.000% 0.0000% 25,000
HEJ 0.000% 0.0000% 25,000
HEMB 0.000% 0.2000% 25,000
HEP 0.000% 0.0000% 25,000
HEU  0.000% 0.0000% 20,000
HEW 0.000% 0.0000% 25,000
HEX 0.000% 0.0000% 25,000
HFD  0.000% 0.0000% 20,000
HFP 0.000% 0.0000% 25,000
HFR 0.000% 0.0000% 25,000
HFU  0.000% 0.0000% 20,000
HGD  0.000% 0.0000% 50,000
HGM 0.000% 0.0000% 25,000
HGU  0.000% 0.0250% 50,000
HGY 0.000% 0.0000% 25,000
HHF 0.000% 0.0000% 25,000
HII 0.000% 0.0000% 25,000
HIU 0.000% 0.0000% 20,000
HIX 0.000% 0.0125% 25,000
HLPR 0.000% 0.0000% 25,000
HMJR 0.000% 0.0000% 25,000
HMMJ 0.000% 0.0000% 25,000
HMP 0.000% 0.150%* 25,000
HMUS 0.000% 0.0000% 25,000
HND 0.000% 0.0250% 100,000
HNU 0.000% 0.0250% 100,000
HNY 0.000% 0.0000% 25,000
HOD 0.000% 0.0250% 100,000
HOG 0.000% 0.0000% 25,000
HOU 0.000% 0.0250% 100,000
HPR 0.000% 0.0500% 25,000
HQD 0.000% 0.0000% 25,000
HQU 0.000% 0.0000% 25,000
HRA 0.000% 0.0000% 25,000
HSD 0.000% 0.0125% 50,000
HSH 0.000% 0.0000% 25,000
HSL 0.250%* 0.150%* 25,000
HSU 0.000% 0.0125% 50,000
HTB Up to 0.10%
plus costs
Up to 0.10%
plus costs
25,000
HTH Up to 0.10%
plus costs
Up to 0.10%
plus costs
25,000
HUC 0.000% 0.0000% 10,000
HUF.U 0.000% 0.0000% 25,000
HUG 0.000% 0.0000% 10,000
HUN 0.000% 0.0000% 10,000
HUV 0.000% 0.0000% 25,000
HUZ 0.000% 0.0000% 10,000
HXD  0.000% 0.0250% 50,000
HXDM 0.000% 0.0000% 25,000
HXE 0.000% 0.0000% 25,000
HXF 0.000% 0.0000% 25,000
HXH 0.000% 0.0000% 50,000
HXQ 0.000% 0.0000% 50,000
HXS 0.000% 0.0000% 100,000
HXT 0.000% 0.0000% 100,000
HXU  0.000% 0.0125% 50,000
HXX 0.000% 0.0000% 25,000
HYI 0.000% 0.250%* 25,000
HZD 0.000% 0.0000% 25,000
HZU 0.000% 0.0125% 25,000
INOC 0.000% 0.0000% 25,000
MIND 0.000% 0.0000% 25,000
RBOT 0.000% 0.0000% 25,000
 

*Only applicable to cash.
The current administration fees will be posted on this website and may change at any time without notice and may be waived at our discretion.

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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 include our BetaPro products (the “BetaPro Products”). The BetaPro Products are alternative mutual funds within the meaning of National Instrument 81-102 Investment Funds, and are permitted to use strategies generally prohibited by conventional mutual funds: the ability to invest more than 10% of their net asset value in securities of a single issuer, to employ leverage, and engage in short selling to a greater extent than is permitted in conventional mutual funds. While these strategies will only be used in accordance with the investment objectives and strategies of the BetaPro Products, during certain market conditions they may accelerate the risk that an investment in units of a BetaPro Product decreases in value. The BetaPro Products consist of our 2x Daily Bull and 2x Daily Bear ETFs (“2x Daily ETFs”), Inverse ETFs (“Inverse ETFs”) and our BetaPro S&P 500 VIX Short-Term Futures™ ETF (the “VIX ETF”). Included in the 2x Daily ETFs and the Inverse ETFs are the BetaPro Marijuana Companies 2x Daily Bull ETF (“HMJU”) and BetaPro Marijuana Companies Inverse ETF (“HMJI”), which track the North American MOC Marijuana Index (NTR) and North American MOC Marijuana Index (TR), respectively. The 2x Daily ETFs and certain other BetaPro Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These BetaPro Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk, among other risks, which 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 futures index or benchmark (the “Target”) for a single day. Each Inverse ETF seeks a return that is –100% of the performance of its 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, particularly in the case of the 2x Daily ETFs, possibly direction from the performance of their respective Target(s) for the same period. Hedging costs charged to BetaPro Products reduce the value of the forward price payable to that ETF. Due to the high cost of borrowing the securities of marijuana companies in particular, the hedging costs charged to HMJI are expected to be material and are expected to materially reduce the returns of HMJI to unitholders and materially impair the ability of HMJI to meet its investment objectives. Currently, the manager expects the hedging costs to be charged to HMJI and borne by unitholders will be between 15.00% and 35.00% per annum of the aggregate notional exposure of HMJI’s forward documents. The hedging costs may increase above this range. The manager will publish, on its website, the updated monthly fixed hedging cost for HMJI for the upcoming month as negotiated with the counterparty to the forward documents, based on the then current market conditions. The VIX ETF, which is a 1x ETF, as described in the prospectus, is a speculative investment tool that is not a conventional investment. The VIX ETF’s Target is highly volatile. As a result, the VIX ETF is not intended as a stand-alone long-term investment. Historically, the VIX ETF’s Target has tended to revert to a historical mean. As a result, the performance of the VIX ETF’s Target is expected to be negative over the longer term and neither the VIX ETF nor its target is expected to have positive long-term performance. Investors should monitor their holdings in BetaPro Products and their performance at least as frequently as daily to ensure such investment(s) 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.