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HSAV

Horizons Cash Maximizer ETF

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$102.27
$0.02
0.02%
NAV
$102.2513
$0.0079
0.01%

Benchmark

Corporate Class - Total Return

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QQCC

Horizons NASDAQ-100 Covered Call ETF

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$5.30
$0.03
0.57%
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$5.3115
$0.0499
0.95%

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Covered Call

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HAC

Horizons Seasonal Rotation ETF

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$24.74
$0.11
0.45%
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$24.7651
$0.1097
0.44%

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Strategic

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HARC

Horizons Absolute Return Global Currency ETF

Canada’s First Long/Short Active Global Currency ETF

Despite being the largest and most liquid market in the world, the global currency market has traditionally been accessible to institutional investors only and is largely untapped by Canadian retail investors – as very few have the financial resources or expertise to access it directly. Horizons Absolute Return Global Currency ETF (HARC) provides investors with access to an institutional currency strategy managed by one of North America’s largest currency investors, CIBC Asset Management Inc.
 

Key Features

• The only long/short global currency ETF in Canada. HARC gives investors both long- and short-position access to the world’s largest securities market, paired with the expertise of a world-class currency management team
• Non-correlated returns. Currency returns tend to be driven by factors that are distinct from those of traditional asset classes
• Absolute returns. HARC seeks to generate positive returns in all market conditions
• A high level of expertise. With $32 billion in currency-related assets under management, CIBC AM is one of the largest currency investment teams in North America1
• Leverage. HARC may be exposed to leverage. Under normal market conditions, the maximum amount of leverage used, expressed as a ratio of total underlying notional value of the securities and/or financial derivative positions, divided by the net assets, will generally not exceed 3:1
• Tax efficient reinvestment. Net interest income from settlement of currency forwards is reflected in HARC’s net asset value (“NAV”) but is not expected to be paid out.

1Source: CIBC Asset Management Inc., as at May 31, 2020.

Investment Objective

HARC seeks to generate positive absolute returns through long and short exposure to selected global currencies. HARC will generally hold Canadian short-term fixed-income securities and will primarily use derivative instruments to gain its exposure to selected global currencies.

Fund Details

Ticker
HARC
Inception Date
January 16, 2017
Net Assets ?
$47,546,096
As at August 12, 2022
Consolidated Prior Day Volume ?
2,245
For August 12, 2022
Average Daily Trading Volume Over a 12 Month Period ?
8,660
As at August 12, 2022
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.85%
(Plus applicable sales tax)
Management Expense Ratio ?
1.07%
As at December 31, 2021
Currency
CAD
Currency Hedging
N/A
LEI ?
549300G3ENI4XIIO6E31
NAV / Unit
$21.4461
Price
$21.48
Premium Discount
$0.03
Premium Discount Percentage
0.16%
Outstanding Shares
2,217,000

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 (%) *

1mo 3mo 6mo YTD 1 yr 3 yr 5 yr 10 yr SIR**
Horizons Absolute Return Global Currency ETF 0.58 -0.31 -3.59 -2.79 -1.36 0.05 0.60 -- 1.39

**Fund performance since inception on January 16, 2017, as at July 31, 2022

Calendar Year Performance (%) *

2014 2015 2016 2017 2018 2019 2020 2021

Horizons Absolute Return Global Currency ETF

-- -- -- -- -3.87 7.29 -0.20 2.50

Distributions

Distribution data is not currently available.

Top 10 Holdings

As at July 31, 2022
Security Name Symbol Long / Short Absolute Exposure as a % of Net Assets
Taiwan TWD S 18.68
Indian Rupee INR L 17.82
Japanese Yen JPY L 14.29
Israeli Shekel ILS S 8.98
Australian Dollar AUD S 8.00
Euro EUR S 7.90
Hong Kong Dollar HKD S 5.86
Indonesian Rupiah IDR L 5.85
US Dollar Forward USD L 5.71
Chilean Peso Forward CLP L 5.02
At a Glance

Canada’s First Long/Short Active Global Currency ETF

Despite being the largest and most liquid market in the world, the global currency market has traditionally been accessible to institutional investors only and is largely untapped by Canadian retail investors – as very few have the financial resources or expertise to access it directly. Horizons Absolute Return Global Currency ETF (HARC) provides investors with access to an institutional currency strategy managed by one of North America’s largest currency investors, CIBC Asset Management Inc.
 

Key Features

• The only long/short global currency ETF in Canada. HARC gives investors both long- and short-position access to the world’s largest securities market, paired with the expertise of a world-class currency management team
• Non-correlated returns. Currency returns tend to be driven by factors that are distinct from those of traditional asset classes
• Absolute returns. HARC seeks to generate positive returns in all market conditions
• A high level of expertise. With $32 billion in currency-related assets under management, CIBC AM is one of the largest currency investment teams in North America1
• Leverage. HARC may be exposed to leverage. Under normal market conditions, the maximum amount of leverage used, expressed as a ratio of total underlying notional value of the securities and/or financial derivative positions, divided by the net assets, will generally not exceed 3:1
• Tax efficient reinvestment. Net interest income from settlement of currency forwards is reflected in HARC’s net asset value (“NAV”) but is not expected to be paid out.

1Source: CIBC Asset Management Inc., as at May 31, 2020.

Product Facts

Investment Objective

HARC seeks to generate positive absolute returns through long and short exposure to selected global currencies. HARC will generally hold Canadian short-term fixed-income securities and will primarily use derivative instruments to gain its exposure to selected global currencies.

Fund Details

Ticker
HARC
Inception Date
January 16, 2017
Net Assets ?
$47,546,096
As at August 12, 2022
Consolidated Prior Day Volume ?
2,245
For August 12, 2022
Average Daily Trading Volume Over a 12 Month Period ?
8,660
As at August 12, 2022
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Management Fee
0.85%
(Plus applicable sales tax)
Management Expense Ratio ?
1.07%
 As at December 31, 2021
Currency
CAD
Currency Hedging
N/A
LEI ?
549300G3ENI4XIIO6E31
NAV / Unit
$21.4461
Price
$21.48
Premium Discount
$0.03
Premium Discount Percentage
0.16%
Outstanding Shares
2,217,000

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 (%) *

1mo 3mo 6mo YTD 1 yr 3 yr 5 yr 10 yr SIR**
Horizons Absolute Return Global Currency ETF 0.58 -0.31 -3.59 -2.79 -1.36 0.05 0.60 -- 1.39

**Fund performance since inception on January 16, 2017, as at July 31, 2022

Calendar Year Performance (%)

2014 2015 2016 2017 2018 2019 2020 2021
Horizons Absolute Return Global Currency ETF -- -- -- -- -3.87 7.29 -0.20 2.50

Distributions

Distribution data is not currently available.

Holdings

Top 10 Holdings

As at July 31, 2022
Security Name Symbol Long / Short Absolute Exposure as a % of Net Assets
Taiwan TWD S 18.68
Indian Rupee INR L 17.82
Japanese Yen JPY L 14.29
Israeli Shekel ILS S 8.98
Australian Dollar AUD S 8.00
Euro EUR S 7.90
Hong Kong Dollar HKD S 5.86
Indonesian Rupiah IDR L 5.85
US Dollar Forward USD L 5.71
Chilean Peso Forward CLP L 5.02

Related Posts

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