HBAL $9.85

Change $0.01 +0.10%

Volume 529

Last Close $9.84


Prices delayed by 15 minutes.
Last trade: Feb 18, 2019 11:45 PM

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HBAL

August 01, 2018

18,297,576 (as at 2019-02-15)

829 (for 2019-02-15)

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 0.18%)

CAD

All USD exposure is hedged back to Canadian dollars

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Found In

Active

Strategic

Investment Objective

HBAL seeks long-term capital growth using a balanced portfolio of exchange traded funds. HBAL primarily invests in Horizons’ Total Return Index ETFs*. The portfolio targets a long-term asset allocation of approximately 70% equity securities and 30% fixed income securities, and rebalances semi-annually to ensure the composition of HBAL reflects a consistent level of balanced risk. HBAL will use currency forwards to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.

HBAL is subject to the fees of its underlying ETFs. Horizons ETFs currently anticipates that the management expense ratio of HBAL will be approximately 0.16%, and will not exceed 0.18%, while the aggregate trading expense ratio of the portfolio of Horizons TRI ETFs held by HBAL will be approximately 0.20%. As trading expense ratios include expenses outside of the Manager’s control, the trading expense ratio of HBAL is subject to change at any time.

*Horizons Total Return Index ETFs (“TRI ETFs”) are index-tracking ETFs that use an innovative investment structure known as a Total Return Swap to deliver index returns in a low-cost and taxefficient manner. Unlike a physical replication ETF that typically purchases the securities found in the relevant index in the same proportions as the index, a Horizons TRI ETF is a synthetic structure that never buys the securities of an index directly. Instead, the Horizons TRI ETF provides the investor with the total return of the index through entering a Total Return Swap agreement with one or more counterparties, typically large financial institutions, which will provide the ETF with the total return of the index in exchange for the interest earned on the cash deposit. Any distributions which are paid by the Index constituents are reflected automatically in the net asset value (NAV) of the ETF. As a result, the investor only receives the total return of the index, which is reflected in the ETF’s unit price, and is not expected to receive any taxable distributions directly. This means that an investor is only expected to be taxed on any capital gain that is realized if, and when, holdings are sold.

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.

Annualized Performance*

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

Calendar Year Performance*

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

Distributions

No Data Available

Holdings

as at February 14, 2019

Holdings are subject to change. Download full prior business day holdings

Nav/Unit: $9.89060

Price: $9.85

Premium Discount: $-0.04

Premium Discount Percentage: -0.41%

Outstanding Shares: 1,850,001

as at February 15, 2019

• Low-Cost1: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 HBAL (the management expense ratio of HBAL will be approximately 0.16%, and will not exceed 0.18%, while the aggregate trading expense ratio of the portfolio of Horizons TRI ETFs held by HBAL will be approximately 0.20%.)
• One-Ticket Solution: HBAL is a one-ticket asset allocation strategy that invests in low-cost1, tax-efficient index ETFs
• No-Taxable Distributions: These ETFs are not expected to make any taxable distributions, making them ideal portfolio solutions for taxable accounts

1Compared to other equivalent investment products.

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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 include our BetaPro Products which consist of our 2x Daily Bull and 2x Daily Bear ETFs ("2x Daily ETFs"), Inverse ETFs ("Inverse ETFs") and our VIX ETF (defined below). 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, 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 Inverse ETF seeks a return that is -100% 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 BetaPro Product whose Target is the S&P 500 VIX Short-Term Futures Index™ (the "VIX ETF"), which is a (1x) VIX 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 generally viewed as 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 ETFs' 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, 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.