HGRO $9.99

Change $0.04 +0.40%

Volume 89

Last Close $9.95

Prices delayed by 15 minutes.
Last trade: Oct 23, 2019 11:45 PM


Inception Date:



Investment Manager:


Portfolio Manager:

Management Fee:

Management Expense Ratio:


Currency Hedging:



September 13, 2019

4,986,218 (as at 2019-10-22)

Toronto Stock Exchange

Horizons ETFs Management (Canada) Inc.

All Registered and Non-Registered Investment Accounts

Horizons ETFs Management (Canada) Inc.

0.00% (ETF is subject to fees of underlying ETFs)

Maximum MER will not exceed 0.19%


All USD exposure is hedged back to Canadian dollars


Found In


One-Ticket Solutions

Investment Objective

HGRO seeks long-term capital growth using a portfolio of primarily equity-focused total return index exchange traded funds. HGRO invests primarily in Horizons Total Return Index ETFs. The portfolio targets a long term asset allocation of at least 99% equity securities at the time of any rebalance, and the portfolio will be rebalanced semiannually in order to seek a consistent level of risk from developed countries around the world. 

HGRO is subject to the fees of its underlying ETFs. Horizons ETFs currently anticipates that the the management expense ratio of HGRO will be approximately 0.17%, and will not exceed 0.19%, while the aggregate trading expense ratio of the portfolio of Horizons TRI ETFs held by HGRO will be approximately 0.28%. As trading expense ratios include expenses outside of the Manager’s control, the trading expense ratio of HGRO is subject to change at any time.

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

No Data Found

Annualized Performance

Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.


No Data Available


as at October 21, 2019

Nav/Unit: $9.97200

Price: $9.99

Premium Discount: $0.02

Premium Discount Percentage: 0.18%

Outstanding Shares: 500,021

as at October 22, 2019

One-Ticket Solution: HGRO is a one-ticket asset allocation strategy that invests in tax-efficient ETFs

Tax-Efficient: The underlying ETFs in HGRO’s portfolio are not expected to make any ongoing taxable distributions of investment income or dividends, making them ideal portfolio solutions for taxable accounts

No-top-line management fee: There will be no direct management fees or operating expenses. Unitholders will still be indirectly charged the fees of the underlying Horizons TRI ETFs invested in by HGRO (the management expense ratio of HGRO will be approximately 0.17%, and will not exceed 0.19%, while the aggregate trading expense ratio of the portfolio of Horizons TRI ETFs held by HGRO will be approximately 0.28%)

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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.