Mitigating Risk with Crude Oil Futures Investing Using ETFs

March 30, 2022

Starting in late February 2022, oil and gas markets surged to near all-time highs in response to potential supply issues and the geopolitical impacts of the Russian invasion of Ukraine. In response, many investors may be trying to capture the momentum and swings by trading crude oil futures, or at least investing in crude oil futures ETFs.

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Navigating Inflation in 2022: Is Fixed Income Oversold?

March 11, 2022

The last two years have been exceptionally difficult for fixed income investors; declining bond prices due to rising yields continue to punish them with substantial losses, relative to their yield. Could this turbulence in fixed income be an opportunity though?

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Can Short Duration Bond ETFs Offer Protection During the Market Storm?

February 04, 2022

Since the beginning of the COVID-19 pandemic the fixed income asset class has not been as attractive to investors, as evidenced by lower historical returns throughout the period and in-flows, compared to stimulus-driven equity market gains. However, the recent stock market downturn could shift investor interest back towards the fixed income market in an effort to preserve capital while weathering this latest bout of market volatility.

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Is the Marijuana Sector a Value-Play?

January 21, 2022

From a traditional investment perspective, referring to an emerging sector with low earnings and lots of regulatory challenges as a value investment could be considered a misclassification. Yet, at no point during the existence of the Horizons Marijuana Life Sciences Index ETF (HMMJ), launched in April 2017, have the fundamental valuations on these stocks been as compelling as they are today.

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Biden the Builder and the Trillion Dollar Infrastructure Development Investment Opportunity

November 22, 2021

North American infrastructure is on the verge of receiving its biggest investment in more than 50 years thanks to the Infrastructure Investment and Jobs Act. From traditional civil infrastructure to green energy and utilities, our latest blog explores how investors can potentially benefit from the historic investment and gain exposure to the theme through the Horizons North American Infrastructure Development Index ETF (BLDR).

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Growing Pains: Is the Marijuana Sector’s Struggle Ending?

November 11, 2021

It’s been a painful quarter for marijuana sector equity investors, as both the Canadian and U.S. sectors have struggled to generate positive returns. Much of this stagnation can be attributed to the recent lack of positive industry or regulatory changes occurring that could potentially spur the sector forward.

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Are Higher Natural Gas Prices Here to Stay?

November 03, 2021

For the better part of a decade, natural gas investing has been a volatile and overall disappointing asset class to be invested in. Previous spikes in natural gas have historically been followed by long and protracted drawdowns. That might be changing: are current natural gas prices potentially staying or hitting new highs in the future?

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Gold Vs. Bitcoin

August 09, 2021
Putting Gold To Work  

For over a millennia gold has been a store of value and a source of savings in tough times. Civilizations all over the world dating back thousands of years stored it and sometimes even kept all of their wealth in gold. That’s certainly the case in some of the biggest countries of the world today including China, India and Turkey to name a few.

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Waiting on the USA – U.S. Investors Drive Marijuana Stocks

July 20, 2021

Retail investors continue to be a driving force behind the valuations of marijuana stocks. It was a volatile quarter for marijuana stocks in particular within the sector benchmark, represented by the Horizons Marijuana Life Sciences Index ETF (HMMJ), which had a -13.71 percent return at the end of the second quarter but is still up 34.62 percent on a year-to-date basis as at June 30, 2021.

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HBGD: Own the Picks, Pans and Shovels of the Digital Gold Rush

May 06, 2021

Clearly there is a lot of interest in owning and “mining” bitcoin and some spectators have likened the current popular frenzy surrounding cryptocurrency as a “digital gold rush”. Here are some reasons to consider the diversified approach of owning equities that could benefit from the rise in cryptocurrency usage through ownership of the Horizons Big Data & Hardware Index ETF (HBGD).

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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 value changes frequently and past performance may not be repeated. Certain ETFs may have exposure to leveraged investment techniques that magnify gains and losses and which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The prospectus contains important detailed information about the ETF. 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 Daily Bull and Daily Bear ETFs (“Leveraged and Inverse Leveraged ETFs”), Inverse ETFs (“Inverse ETFs”) and our BetaPro S&P 500 VIX Short-Term Futures™ ETF (the “VIX ETF”). Included in the Leveraged and Inverse Leveraged 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 Leveraged and Inverse Leveraged 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 Leveraged and Inverse Leveraged ETF seeks a return, before fees and expenses, that is either up to, or equal to, 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 Leveraged and Inverse Leveraged 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 Leveraged and Inverse Leveraged ETFs, possibly direction from the performance of their respective Target(s) for the same period. For certain Leveraged and Inverse Leveraged ETFs that seek up to 200% or up to or -200% leveraged exposure, the Manager anticipates, under normal market conditions, managing the leverage ratio as close to two times (200%) as practicable however, the Manager may, at its sole discretion, change the leverage ratio based on its assessment of the current market conditions and negotiations with the respective ETF’s counterparties at that time. 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 publishes 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. BetaPro Bitcoin ETF (“HBIT”), and BetaPro Inverse Bitcoin ETF (“BITI”), which are a 1X ETF, and an up to -1X ETF, respectively, as described in the prospectus, are speculative investment tools that are not conventional investments. Their Target, an index which replicates exposure to rolling Bitcoin Futures and not the spot price of Bitcoin, is highly volatile. As a result, neither ETF is intended as a stand-alone investment. There are inherent risks associated with products linked to crypto-assets, including Bitcoin Futures. While Bitcoin Futures are traded on a regulated exchange and cleared by regulated central counterparties, direct or indirect exposure to the high level of risk of Bitcoin Futures will not be suitable for all types of investors. An investment in any of the BetaPro Products is not intended as a complete investment program and is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. Please read the full risk disclosure in the prospectus before investing. 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.

Horizons Total Return Index ETFs (“Horizons TRI ETFs”) are generally index-tracking ETFs that use an innovative investment structure known as a Total Return Swap to deliver index returns in a low-cost and tax-efficient manner. Unlike a physical replication ETF that typically purchases the securities found in the relevant index in the same proportions as the index, most Horizons TRI ETFs use a synthetic structure that never buys the securities of an index directly. Instead, the ETF receives the total return of the index through entering into 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 held by the ETF. 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 Horizons TRI ETF receives the total return of the index (before fees), which is reflected in the ETF’s share price, and investors are not expected to receive any taxable distributions. Certain Horizons TRI ETFs (Horizons Nasdaq-100 ® Index ETF and Horizons US Large Cap Index ETF) use physical replication instead of a total return swap. The Horizons Cash Maximizer ETF and Horizons USD Cash Maximizer ETF use cash accounts and do not track an index but rather a compounding rate of interest paid on the cash deposits that can change over time.

*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.