Toronto – March 13, 2018 – Horizons ETFs Management (Canada) Inc. (the “Manager”) has announced today that further to the press release dated February 27, 2018, it will resume the acceptance of new subscriptions of units of the BetaPro S&P 500 VIX Short-Term Futures™ Inverse ETF (“HVI”) tomorrow, March 14, 2018. HVI trades on the Toronto Stock Exchange under the ticker symbol “HVI”.

Since the close of trading on February 27, 2018, the performance of HVI has corresponded to approximately one-half times the inverse (opposite) of the daily performance of the S&P 500 VIX Short-Term Futures Index (the “Index”), and the performance of HVI is expected to continue to corresponded to approximately one-half times the inverse (opposite) of the daily performance of the Index.

In accordance with the declaration of trust of HVI, and in accordance with applicable securities law, the Manager intends to call a special meeting of unitholders of HVI as soon as practicable, in order to amend HVI’s investment objective from seeking to correspond to one times the inverse (opposite) of the daily performance of the Index to seeking to correspond to one-half times the inverse (opposite) of the daily performance of the Index. The Manager will provide unitholders with additional information pertaining to the details of the special meeting, including the matters to be proposed at such meeting, in due course.

About Horizons ETFs Management (Canada) Inc.
Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product suite includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs currently has approximately $10 billion of assets under management and 82 ETFs listed on major Canadian stock exchanges. Horizons ETFs Management (Canada) Inc. is a member of the Mirae Asset Global Investments Group.

For investor inquiries:
1-866-641-5739 (toll-free) or (416) 933-5745
info@horizonsetfs.com

For press or other inquiries:
Mark Noble, Senior Vice-President and Head of Sales Strategy
Horizons ETFs Management (Canada) Inc.
(416) 640-8254
mnoble@horizonsetfs.com

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Amendment to December 2017 Annual Non-Cash Reinvested Distributions

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 ETFs' Target is highly volatile. As a result, the VIX ETF is not generally viewed as stand-alone long-term investment. 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 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.