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HBNK

Horizons Equal Weight Banks Index ETF

Price
$19.35
$0.05
0.26%
NAV
$19.2848
$0.0204
0.11%

Benchmark

Sector Equity

Fact Sheet
Learn more about HBNK

SPAY

Horizons Short-Term U.S. Treasury Premium Yield ETF

Price
$27.34
$0.14
0.51%
NAV
$27.1873
$0.0910
0.34%

Active

Fixed Income

Fact Sheet
Learn more about SPAY

CASH

Horizons High Interest Savings ETF

Price
$50.03
$0.00
0.00%
NAV
$50.0281
$0.0208
0.04%

Benchmark

Fixed Income

Fact Sheet
Learn more about CASH
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BKCL

Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF

Canadian Big Six Bank Exposure

As one of Canada’s largest economic sectors, the Canadian Big Six Banks have traditionally offered a stable bastion within the broader Canadian equity landscape.

The Covered Call Advantage + Leverage

BKCL’s Underlying ETF (Horizons Equal Weight Canadian Bank Covered Call ETF) uses a dynamic call writing approach, which seeks to generate income and reduce downside risk. BKCL employs 1.25x leverage, which can potentially magnify performance, relative to the performance of the Underlying Index.

Light Leverage, Big Opportunities

Investment Objective: BKCL seeks to provide, to the extent reasonably possible and net of expenses: (a) exposure to the performance of an index of equal-weighted equity securities of diversified Canadian banks (currently, the Solactive Equal Weight Canada Banks Index); and (b) high monthly distributions of dividend and call option income. To generate income, BKCL will be exposed to a dynamic covered call option writing program.

BKCL will also employ leverage (not to exceed the limits on use of leverage described under “Investment Strategies” in the ETFs prospectus) through cash borrowing and will generally endeavour to maintain a leverage ratio of approximately 125%.

Fund Details

Ticker
BKCL
Inception Date
July 05, 2023
Net Assets ?
$47,086,534
As at  December 04, 2023
Consolidated Prior Day Volume ?
48 806
For  December 04, 2023
Average Daily Trading Volume Over a 12 Month Period ?
45,457
As at  December 04, 2023
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.65%
(Plus applicable sales tax)
Management Expense Ratio ?
N/A (New ETF)
Currency
CAD
Currency Hedging
N/A
LEI ?
5493000KC63RT1RW2X37
Most Recent Distributions Per Unit
$0.24500
Distribution Frequency
Monthly
Record Date
November 30, 2023
NAV / Unit
$17.9178
Price
$17.94
Premium Discount
$0.02
Premium Discount Percentage
0.12%
Outstanding Shares
2,627,926

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 security holder. 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.

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 (%) *

Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.

Calendar Year Performance (%) *

Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.

Distributions

Year Ex-Dividend Date Record Date Payment Date Payment Amount Reinvested Non-Cash Distributions Distribution Period
2023 11/29/2023 11/30/2023 12/07/2023 0.245 Monthly
2023 10/30/2023 10/31/2023 11/07/2023 0.245 Monthly
2023 09/28/2023 09/29/2023 10/06/2023 0.257 Monthly
2023 08/30/2023 08/31/2023 09/08/2023 0.257 Monthly
2023 07/28/2023 07/31/2023 08/08/2023 0.257 Monthly

Top Holdings

As at December 04, 2023
Security Name Weight
Horizons Equal Weight Can Bk Cov Call ETF (BKCC) 124.44%

Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL) may invest in one or more other investment funds, including investment funds managed by Horizons ETFs Management (Canada) Inc. (“HEMI”). In doing so, HEMI is required to ensure that no duplicate fees are payable by BKCL and passed on to the investor, where BKCL and the investment fund it holds provide the same service.

Click here for holdings of the Horizons Equal Weight Canadian Bank Covered Call ETF (BKCC) Holdings

At a Glance

Key Features

Canadian Big Six Bank Exposure

As one of Canada’s largest economic sectors, the Canadian Big Six Banks have traditionally offered a stable bastion within the broader Canadian equity landscape.

The Covered Call Advantage + Leverage

BKCL’s Underlying ETF (Horizons Equal Weight Canadian Bank Covered Call ETF) uses a dynamic call writing approach, which seeks to generate income and reduce downside risk. BKCL employs 1.25x leverage, which can potentially magnify performance, relative to the performance of the Underlying Index.

Light Leverage, Big Opportunities

Investment Objective: BKCL seeks to provide, to the extent reasonably possible and net of expenses: (a) exposure to the performance of an index of equal-weighted equity securities of diversified Canadian banks (currently, the Solactive Equal Weight Canada Banks Index); and (b) high monthly distributions of dividend and call option income. To generate income, BKCL will be exposed to a dynamic covered call option writing program.

BKCL will also employ leverage (not to exceed the limits on use of leverage described under “Investment Strategies” in the ETFs prospectus) through cash borrowing and will generally endeavour to maintain a leverage ratio of approximately 125%.

Product Facts

Fund Details

Ticker
BKCL
Inception Date
July 05, 2023
Net Assets ?
$47,086,534
As at  December 04, 2023
Consolidated Prior Day Volume ?
48 806
ForDecember 04, 2023
Average Daily Trading Volume Over a 12 Month Period ?
45,457
As at  December 04, 2023
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.65%
(Plus applicable sales tax)
Management Expense Ratio ?
N/A (New ETF)
Currency
CAD
Currency Hedging
N/A
LEI ?
5493000KC63RT1RW2X37
Most Recent Distributions Per Unit
0.245
Distribution Frequency
Monthly
Record Date
November 30, 2023
NAV / Unit
$17.9178
Price
$17.94
Premium Discount
$0.02
Premium Discount Percentage
0.12%
Outstanding Shares
2,627,926

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 security holder. 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.

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.

Performance & Distributions

Annualized Performance (%)

Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.

Calendar Year Performance (%)

Investment fund regulations restrict the presentation of performance figures until a fund reaches its one-year anniversary.

Distributions

Year Ex-Dividend Date Record Date Payment Date Payment Amount Reinvested Non-Cash Distributions Distribution Period
2023 11/29/2023 11/30/2023 12/07/2023 0.245 Monthly
2023 10/30/2023 10/31/2023 11/07/2023 0.245 Monthly
2023 09/28/2023 09/29/2023 10/06/2023 0.257 Monthly
2023 08/30/2023 08/31/2023 09/08/2023 0.257 Monthly
2023 07/28/2023 07/31/2023 08/08/2023 0.257 Monthly
Holdings

Top Holdings

As at December 04, 2023
Security Name Weight
Horizons Equal Weight Can Bk Cov Call ETF (BKCC) 124.44%

Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF (BKCL) may invest in one or more other investment funds, including investment funds managed by Horizons ETFs Management (Canada) Inc. (“HEMI”). In doing so, HEMI is required to ensure that no duplicate fees are payable by BKCL and passed on to the investor, where BKCL and the investment fund it holds provide the same service.

Click here for holdings of the Horizons Equal Weight Canadian Bank Covered Call ETF (BKCC) Holdings

Related Posts

At Horizons ETFs, we believe in education as empowerment. We endeavor to equip Canadian investors with the knowledge and tools they need to navigate the investing world. From the ETF basics to more complex topics like how our suite of inverse and leveraged funds work, our comprehensive learning library aims to be accessible for all investors, from beginners to experienced traders!