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HBNK

Horizons Equal Weight Banks Index ETF

Price
$21.26
$-0.12
-0.56%
NAV
$21.2622
$-0.1178
-0.55%

Benchmark

Sector Equity

Fact Sheet
Learn more about HBNK

SPAY

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

Price
$27.12
$0.06
0.22%
NAV
$27.1064
$0.0569
0.21%

Active

Fixed Income

Fact Sheet
Learn more about SPAY

CASH

Horizons High Interest Savings ETF

Price
$50.15
$0.00
0.00%
NAV
$50.1530
$0.0066
0.01%

Benchmark

Fixed Income

Fact Sheet
Learn more about CASH
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HMJI

BetaPro Marijuana Companies Inverse ETF

Investment Objective

HMJI is designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to the single inverse (opposite) of the daily performance of the North American MOC Marijuana Index (TR). The Inverse ETF does not seek to achieve its stated investment objective over a period of time greater than one day.

In order to achieve its investment objective, the Inverse ETF may invest in equity securities, interest bearing accounts and T-Bills and/or other financial instruments, including derivatives.

 

Important Risk Considerations

HMJI is very different from most other exchange-traded funds, and is permitted to use strategies generally prohibited by conventional mutual funds. While such strategies will only be used in accordance with the investment objective and strategy of the ETF, during certain market conditions they may accelerate the risk that an investment in the Units of the ETF decreases in value.

HMJI, before fees and expenses, does not and should not be expected to return the inverse (e.g. -100%) of the return of its Underlying Index over any period of time other than daily.

The returns of HMJI over periods longer than one day will, under most market conditions, be in the opposite direction from the performance of its Underlying Index for the same period. However, the deviation of returns of HMJI from the inverse performance of its Underlying Index can be expected to become more pronounced as the volatility of HMJI’s Underlying Index, and/or the period of time increases.

Hedging costs charged to an ETF reduce the value of the forward price payable to that ETF. Due to the high cost of borrowing the securities of marijuana companies, the hedging costs charged to HMJI and indirectly borne by Unitholders are anticipated to be material.

Although the hedging costs of HMJI are assessed on a monthly basis to reflect the current market conditions, these hedging costs are expected to materially reduce the daily returns of HMJI to Unitholders and to materially impair the ability of HMJI to meet its investment objectives. Currently, Horizons ETFs Management (Canada) Inc. (the “Manager”) anticipates that, in respect of HMJI, based on existing market conditions, the hedging costs charged to HMJI and indirectly borne by Unitholders will be between 15.00% and 35.00% per annum of the aggregate notional exposure of HMJI’s Forward Documents. The hedging costs may increase beyond this range.

Although the Manager does not, as of the date of this prospectus, anticipate suspending subscriptions for new Units, it is possible that due to a Counterparty’s difficulties and costs associated with shorting the securities of constituent issuers, including the potential inability of a Counterparty to borrow securities of constituent issuers in order to “short” such issuers, HMJI will be subject to the risk that one or more Counterparties could refuse to increase the ETF’s existing notional exposure under the current Forward Documents. If the ETF cannot increase its notional exposure under the Forward Documents, the Manager will accordingly suspend new subscriptions for Units of HMJI until such time as the Manager can increase the notional exposure under the Forward Documents. During a period of suspended subscriptions, investors should note that Units of HMJI are expected to trade at a premium or substantial premium to NAV. In such cases, investors are strongly discouraged from purchasing Units of HMJI on a stock exchange. Any suspension of subscriptions will be announced by press release and on the Manager’s website. The suspension of subscriptions, if any, will not affect the ability of existing Unitholders to sell their Units in the secondary market at a price reflective of the NAV per Unit. See “Significant Hedging Cost Risk and Risk of Suspended Subscriptions (HMJI)” in the prospectus.

Investors should read the prospectus to understand the risks, and monitor their investments in the ETF at least daily.

 

Fund Details

Ticker
HMJI
Inception Date
May 23, 2019
Net Assets ?
$2,547,589
As at  February 22, 2024
Consolidated Prior Day Volume ?
4
For  February 27, 2024
Average Daily Trading Volume Over a 12 Month Period ?
742
As at  February 27, 2024
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Bloomberg Index Ticker
BAMMART
Management Fee
1.45%
(Plus applicable sales taxes)
Management Expense Ratio ?
2.06%
As at June 30, 2023
Currency
CAD
Currency Hedging
Seeks to hedge the U.S. dollar value of its portfolio to the Canadian dollar at all times
LEI ?
549300FQB5PSGO7WAD76
Current Hedging Cost
36.9141%
(As at January 31, 2023)
NAV / Unit
$--
Price
$23.50
Premium Discount
$--
Premium Discount Percentage
--%
Outstanding Shares
108,070

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

Distribution data is not currently available.

Top 10 Index Holdings

As at January 31, 2024
Security Name Weight
Corbus Pharmaceuticals Holdings Inc 20.73%
Jazz Pharmaceuticals PLC 8.73%
Chart Industries Inc 7.34%
Cardiol Therapeutics Inc Cl A 6.51%
Terrascend Corp 6.30%
OrganiGram Holdings Inc 6.30%
High Tide Inc 5.94%
Village Farms International Inc 5.23%
Ispire Technology Inc 5.22%
Canna-Global Acquisition Corp Cl A 5.19%

(Plus applicable sales tax)

At a Glance

Investment Objective

HMJI is designed to provide daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to the single inverse (opposite) of the daily performance of the North American MOC Marijuana Index (TR). The Inverse ETF does not seek to achieve its stated investment objective over a period of time greater than one day.

In order to achieve its investment objective, the Inverse ETF may invest in equity securities, interest bearing accounts and T-Bills and/or other financial instruments, including derivatives.

 

Important Risk Considerations

HMJI is very different from most other exchange-traded funds, and is permitted to use strategies generally prohibited by conventional mutual funds. While such strategies will only be used in accordance with the investment objective and strategy of the ETF, during certain market conditions they may accelerate the risk that an investment in the Units of the ETF decreases in value.

HMJI, before fees and expenses, does not and should not be expected to return the inverse (e.g. -100%) of the return of its Underlying Index over any period of time other than daily.

The returns of HMJI over periods longer than one day will, under most market conditions, be in the opposite direction from the performance of its Underlying Index for the same period. However, the deviation of returns of HMJI from the inverse performance of its Underlying Index can be expected to become more pronounced as the volatility of HMJI’s Underlying Index, and/or the period of time increases.

Hedging costs charged to an ETF reduce the value of the forward price payable to that ETF. Due to the high cost of borrowing the securities of marijuana companies, the hedging costs charged to HMJI and indirectly borne by Unitholders are anticipated to be material.

Although the hedging costs of HMJI are assessed on a monthly basis to reflect the current market conditions, these hedging costs are expected to materially reduce the daily returns of HMJI to Unitholders and to materially impair the ability of HMJI to meet its investment objectives. Currently, Horizons ETFs Management (Canada) Inc. (the “Manager”) anticipates that, in respect of HMJI, based on existing market conditions, the hedging costs charged to HMJI and indirectly borne by Unitholders will be between 15.00% and 35.00% per annum of the aggregate notional exposure of HMJI’s Forward Documents. The hedging costs may increase beyond this range.

Although the Manager does not, as of the date of this prospectus, anticipate suspending subscriptions for new Units, it is possible that due to a Counterparty’s difficulties and costs associated with shorting the securities of constituent issuers, including the potential inability of a Counterparty to borrow securities of constituent issuers in order to “short” such issuers, HMJI will be subject to the risk that one or more Counterparties could refuse to increase the ETF’s existing notional exposure under the current Forward Documents. If the ETF cannot increase its notional exposure under the Forward Documents, the Manager will accordingly suspend new subscriptions for Units of HMJI until such time as the Manager can increase the notional exposure under the Forward Documents. During a period of suspended subscriptions, investors should note that Units of HMJI are expected to trade at a premium or substantial premium to NAV. In such cases, investors are strongly discouraged from purchasing Units of HMJI on a stock exchange. Any suspension of subscriptions will be announced by press release and on the Manager’s website. The suspension of subscriptions, if any, will not affect the ability of existing Unitholders to sell their Units in the secondary market at a price reflective of the NAV per Unit. See “Significant Hedging Cost Risk and Risk of Suspended Subscriptions (HMJI)” in the prospectus.

Investors should read the prospectus to understand the risks, and monitor their investments in the ETF at least daily.

 

Product Facts

Fund Details

Ticker
HMJI
Inception Date
May 23, 2019
Net Assets ?
$2,547,589
As at  February 22, 2024
Consolidated Prior Day Volume ?
4
ForFebruary 27, 2024
Average Daily Trading Volume Over a 12 Month Period ?
742
As at  February 27, 2024
Exchange
Toronto Stock Exchange
Investment Manager
Horizons ETFs Management (Canada) Inc.
Eligibility
All Registered and Non-Registered Investment Accounts
Bloomberg Index Ticker
BAMMART
Management Fee
1.45%
(Plus applicable sales taxes)
Management Expense Ratio ?
2.06%
 As at June 30, 2023
Currency
CAD
Currency Hedging
Seeks to hedge the U.S. dollar value of its portfolio to the Canadian dollar at all times
LEI ?
549300FQB5PSGO7WAD76
Current Hedging Cost
36.9141%
(As at January 31, 2023)
NAV / Unit
$--
Price
$23.50
Premium Discount
$--
Premium Discount Percentage
--%
Outstanding Shares
108,070

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

Distribution data is not currently available.

Holdings

Top 10 Index Holdings

As at January 31, 2024
Security Name Weight
Corbus Pharmaceuticals Holdings Inc 20.73%
Jazz Pharmaceuticals PLC 8.73%
Chart Industries Inc 7.34%
Cardiol Therapeutics Inc Cl A 6.51%
Terrascend Corp 6.30%
OrganiGram Holdings Inc 6.30%
High Tide Inc 5.94%
Village Farms International Inc 5.23%
Ispire Technology Inc 5.22%
Canna-Global Acquisition Corp Cl A 5.19%

(Plus applicable sales tax)

Related Posts

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