HAC $19.79

Change $0.00 +0.00%

Volume 2776

Last Close $19.79

Prices delayed by 15 minutes.
Last trade: May 25, 2018 05:15 PM

Inception Date:




Consolidated Prior Day Volume:

Average Daily Trading Volume Over a 12 Month Period:


Investment Manager:


Management Fee:

Performance Fee:


November 19, 2009



206,334,351 (as at 2018-05-24)

8,745 (for 2018-05-23)

32,713 (as at 2018-04-30)

Toronto Stock Exchange

Horizons ETFs Management (Canada) Inc.

All Registered and Non-Registered Accounts

0.75% (plus applicable sales tax)

20% of outperformance over high water mark and an annualized return of 5% (please see the prospectus for more information)


Found In


Multi Asset

2017 Lipper Fund Award Winner

lipperlogo.pngHorizons ETFs is proud to announce that the Horizons Seasonal Rotation ETF won “Best Alternative Strategies ETF” at the 2017 Thomson Reuters Lipper Fund Awards.
Learn more


Investment Objective

Long-term capital appreciation in all market cycles by tactically allocating its exposure amongst equities, fixed income, commodities and currencies during periods that have historically demonstrated seasonal trends.

Daily NAV

The NAV chart above only shows the historical daily net asset value per unit (NAV) of the ETF, and identifies the various distributions made by the ETF, if any. The distributions are not treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder. The NAV values do contemplate management fees and other fund expenses. The chart is not a performance chart and is not indicative of future NAV values which will vary.

Growth of 10K

The Growth of 10K chart above is based on the historical daily net asset value per unit (NAV) of the ETF, and represents the value of an initial investment into the ETF of $10,000 since its inception, on a total return basis. Distributions, if any, are treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses where paid by the fund. The chart is not a performance chart and is not indicative of future value which will vary.

Annualized Performance*

**Performance since inception on November 19, 2009, as at April 30, 2018

Calendar Year Performance*




Asset Allocation

as at April 30, 2018


as at April 30, 2018

** Reflects gain / loss on currency hedge (Notional exposure equals 9.65% of current NAV)

Nav/Unit: $19.82290

Price: $19.79

Premium Discount: $-0.03

Premium Discount Percentage: -0.17%

Outstanding Shares: 10,408,880

as at May 24, 2018

Proprietary Seasonal Rotation Investment Strategy

The strategy’s core position consists of broad markets at seasonally favourable times of the year and money market securities at seasonally unfavourable times of the year. The strategy allocates from the core portfolio to various sectors when those sectors offer favourable opportunities. Rotating a portfolio in anticipation of these opportunities is designed to deliver returns that are superior to a static investment in broad markets. As seasonal periods are never the same, this investment strategy is supported by additional fundamental and technical analysis

Potential for Outperformance

Current research supports the view that broad markets and sectors may earn higher returns during specific periods of the year when compared to other periods of the same duration

Broad Diversification

The HAC portfolio will be primarily comprised of ETFs to gain access to the broader markets (Canadian or U.S. equities, fixed income), sectors, currencies and commodities. Investing via ETFs is cost effective and also helps to reduce risk in the portfolio

Annually if any

Horizons ETFs Management (Canada) Inc. has completed the conversion of all advisor-class units of its Canadian-listed exchange trade funds (ETFs) into the corresponding common class units of the same ETF as at the end-of-day, April 28, 2017. The Conversion Ratio of advisor-class units to common class units for HAC.A is 1 to 0.970588. Only whole units of HAC were issued and any resulting fractional units were redeemed for cash. For more information, view our press release.

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“Toronto Raptors” and associated word marks and logos are trademarks, designs and other forms of intellectual property of NBA Properties, Inc. and the Toronto Raptors and are used under licence (or with permission) by Maple Leaf Sports & Entertainment Partnership © 2018 NBA Properties, Inc. All rights reserved.

Horizons ETFs is a Member of Mirae Asset Global Investments. 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") and VIX ETFs (defined below). 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, for the 2x Daily ETFs, 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 VIX ETF, one of which is a (1x) VIX ETF, and one of which is a (-1x) Inverse VIX 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 2x Daily nor (1x) VIX ETFs nor their Target are expected to have positive long term performance. In addition, the VIX ETFs' Target has historically experienced some significant one-day increases when equity markets have had large negative returns which, if repeated, could cause the Inverse (-1x) VIX ETF to suffer substantial losses. 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.