HEA.U $11.42

Change $0.08 +0.71%

Volume 1500

Last Close $11.34


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

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HEA.U

September 13, 2011

29,385,338 (as at 2019-02-15)

194 (for 2019-02-15)

3,076 (as at 2019-01-31)

Toronto Stock Exchange

Horizons ETFs Management (Canada) Inc.

All Registered and Non-Registered Accounts

0.65% (plus applicable sales tax)

USD

549300GWB73M3TT1WP12

Found In

Active

Covered Call

Investment Objective

The investment objective of Horizons HEA.U is to provide Unitholders with: (a) exposure to the performance of an equal weighted portfolio of large capitalization U.S. companies; and (b) monthly U.S. dollar distributions of dividend and call option income. Horizons HEA.U will invest primarily in a portfolio of equity and equity related securities of U.S. companies that, as at the Constituent Reset Date, are amongst the largest by market capitalization and most liquid issuers on the New York Stock Exchange (the “NYSE”) or the NASDAQ Stock Market (“NASDAQ”). Horizons HEA.U will rebalance, on an equal weight basis, the portfolio of constituent securities on each Constituent Reset Date. Horizons HEA.U will not to seek to hedge its exposure to the U.S. dollar back to the Canadian dollar. To mitigate downside risk and generate income, Horizons HEA.U will generally write covered call options on 100% of the portfolio securities. The level of covered call option writing may vary based on market volatility and other factors.

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 September 13, 2011, as at January 31, 2019

Calendar Year Performance*

Distributions

Year

 

Sector Allocation

as at January 31, 2019

Top 10 Holdings

as at January 31, 2019

Most Recent Distribution per Unit : 0.06490

Estimated Annualized Yield : 7.30%

12-Month Trailing Yield: 6.32%

Distribution Frequency : Monthly

Record Date: 2018-12-31

Nav/Unit: $11.48250

Price: $11.42

Premium Discount: $-0.06

Premium Discount Percentage: -0.54%

Outstanding Shares: 2,559,134

as at February 15, 2019

To achieve its investment objective Horizons HEA.U primarily invests in an equal weighted portfolio of large capitalization U.S. companies. Semi-annually, on the Constituent Reset Date, the Investment Manager will select from the largest and most liquid U.S. companies listed on the NYSE or the NASDAQ and will invest Horizons HEA.U in each issuer equally. Horizons HEA.U will rebalance, on an equal weight basis, the portfolio of constituent securities on each Constituent Reset Date. The number of issuers included in the portfolio may change on a Constituent Reset Date. Between Constituent Reset Dates, the allocation between each of these constituent securities will change due to market movement and the Investment Manager will typically not re-allocate, include or exclude issuers from Horizons HEA.U’s portfolio until its next rebalance date or Constituent Reset Date, other than when, in the opinion of the Investment Manager, circumstances necessitate a change (e.g. insufficient liquidity of an issuer’s options). To mitigate downside risk and generate income, the Investment Manager actively manages a covered call strategy that will generally write out of the money covered call options on 100% of the portfolio securities.

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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.