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LEI:

HVI

April 03, 2012

0 (for 2018-06-07)

Toronto Stock Exchange

Horizons ETFs Management (Canada) Inc.

All Registered and Non-Registered Accounts

Horizons Short VIX Short-term Futures Index

CMDYVXER

1.15% (plus applicable sales tax)

CAD

549300FOW3NOPH2UCQ47

Found In

BetaPro

Volatility

Horizons Announces Closure of HVI

Horizons ETFs Management (Canada) Inc. (the “Manager”) announced that it will be terminating the BetaPro S&P 500 VIX Short-Term Futures™ Daily Inverse ETF (HVI) effective at the close of business on Monday, June 11, 2018. Effective immediately, no further direct subscriptions for units of the ETF will be accepted. Tuesday, June 5, 2018, is expected to be the last date on which a redemption request may be placed with the Manager, and the ETF is expected to be de-listed from the Toronto Stock Exchange, at the request of the Manager, at the close of business on or about Wednesday, June 6, 2018, with all units still held by investors being subject to a mandatory redemption as of the Termination Date. Click here to learn more.

Investment Objective

Horizons HVI seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs that endeavour to correspond to the inverse (opposite) of the daily performance of the S&P 500 VIX Short-Term Futures Index™. Any U.S. dollar gains or losses as a result of the ETF’s investment will be hedged back to the Canadian dollar to the best of the ETF’s ability. HVI does not seek to achieve its stated investment objective over a period of time greater than one day.

The ETF is a speculative investment tool, is very different from other Canadian exchange traded funds, and can be used for diversification or as a partial hedge against certain market conditions. The ETF seeks the inverse (opposite) return, before fees and expenses, of its Underlying Index (S&P 500 VIX Short-Term Futures Index™ ) for a SINGLE DAY. The Underlying Index tracks market volatility, not market returns and can be highly volatile. Historically, the Underlying Index has experienced significant one day increases when equity markets have had large negative returns which, if repeated, could cause HVI to suffer substantial losses. As a result, it is not generally viewed as a stand-alone long-term investment. Investors should monitor their investment in the ETF daily. Please read the prospectus and ensure you understand this ETF before investing in it.

Daily NAV

No Data Found

Growth of 10K

No Data Found


 

Annualized Performance*

No Data Available

Calendar Year Performance*

Distributions

No Data Available

Click here for more information on the S&P 500 VIX Short-Term Futures

Click here to see HVI's Commodity Roll Calendars 2016-2020
 

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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.