Inflection Point: U.S Marijuana Stocks Rally

June 01, 2020

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The United States marijuana sector, which is comprised primarily of multi-state-operators (MSOs) — vertically integrated companies that cultivate marijuana and own dispensaries and retail distribution in various U.S. states – has rallied over the last month.


Marijuana Stocks: Holding Up Better than Expected?

April 16, 2020
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Who knew that marijuana would ever be considered an essential service? For those familiar with social gathering restrictions in Ontario — Canada’s largest province by population — it was a bit of a head scratcher to see both online and storefront marijuana dispensaries initially included on the provincial government’s list of essential businesses allowed to stay open, while retail and restaurants were forced to close.

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Equity ETF Strategies to Consider: Canadian Bank Stocks

March 20, 2020
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When we experience a market selloff as significant as we have since the end of February, it can be a nerve-wracking experience. Even the most seasoned investors can have their emotional fortitude tested. In fact, the extreme volatility we have observed, in conjunction with the occasionally wild price swings, suggests that even professional investors are having difficulty navigating the torrent of news. Do you sell? Do you buy? Do you do nothing?

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Finding the REIT Income Opportunity in 2020

February 26, 2020
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Canadian preferred shares and real estate investment trusts (“REITs”) have historically functioned as a potentially compelling Yin and Yang symbiosis for an income-focused portfolio. While preferred shares are technically classified as fixed income, and REITs as equities, there are some notable similarities between the two asset classes.

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Cannabis Outlook 2020: Threats and Opportunities in Marijuana Investing

January 17, 2020
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Optimism might sound crazy given how far the sector has fallen, but we are seeing major investment firms starting to call a bottom and stamp recommendation “buys” on the sector. These include CIBC, Bank of America Merrill Lynch and Cantor Fitzgerald.

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Get a Positive Real Rate of Return with Corporate Bond Strategies

January 02, 2020
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In a declining interest rate environment like the one we’ve observed over the last 12 months, it can be tempting to move investments into ultra-defensive income strategies—most notably, cash.

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Blockchain’s role in driving Industry 4.0 forward

December 12, 2019
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BY: HANS ALBRECHT, CIM®, FCSI, VICE-PRESIDENT, PORTFOLIO MANAGER AND OPTIONS STRATEGIST, HORIZONS ETFS

Horizons ETF’s Blockchain Technology and Hardware Index Fund (“ETF”) is up 36.98 per cent year-to-date*. In the past, I’ve said that this ETF is a great basket that will likely do well regardless of how cryptocurrencies and blockchain, per se, perform.

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Why your ESG fund may not be as socially responsible as you think

November 06, 2019
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Are ESG investment strategies, which focus on environment, social and governance factors, truly socially responsible? While the recent increase in ESG products is a well-intentioned move to make investors consider the social and environmental repercussions of their portfolio, investors might be disappointed by how many ESG strategies fall short of owning truly socially responsible companies.

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Industry 4.0: The World of Today and Tomorrow

October 22, 2019
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BY: HANS ALBRECHT, CIM®, FCSI, VICE-PRESIDENT, PORTFOLIO MANAGER AND OPTIONS STRATEGIST, HORIZONS ETFS

What do we mean by Industry 4.0? Put simply, it’s the current – and future – progression of today’s technology.

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Marijuana Q3 Rebalance: Are Marijuana Stocks a Value Play?

October 04, 2019
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BY: MARK NOBLE, SENIOR VICE-PRESIDENT, ETF STRATEGY, HORIZONS ETFS

It has been a rough six months for Marijuana equities. Could it be that the decline in these stocks has fallen too far, and for the first time, these stocks are starting to look (gasp) undervalued?

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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 shares 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 10.00% and 45.00% 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.