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HSAV

Horizons Cash Maximizer ETF

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

Benchmark

Corporate Class - Total Return

Fact Sheet
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QQCC

Horizons NASDAQ-100 Covered Call ETF

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

Active

Covered Call

Fact Sheet
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HAC

Horizons Seasonal Rotation ETF

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

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Strategic

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HYBR

Horizons Active Hybrid Bond and Preferred Share ETF

Attractive Yields, Interest Rate Protected

Horizons Active Hybrid Bond and Preferred Share ETF (HYBR) is an actively managed ETF that provides Canadian investors exposure to hybrid securities, such as preferred shares, hybrid bonds and limited recourse capital notes (LRCNs). These types of securities are generally referred to as hybrid securities, as they typically offer a combination of shared features with both traditional fixed income and equities

Key Features

• Fixed or predefined coupon payments. Due to the terms defined in the agreements on preferred shares and other hybrid fixed income securities, companies are less likely to miss a coupon payment than with their common shares
• Potentially benefits from rising interest rates. Most of the securities held by HYBR will have a rate-reset feature, where the coupon rate paid by the security will reset at a specified date (“the reset date”) to a pre-determined spread over a government benchmark bond rate. This feature means the price of these securities will historically rise with corresponding interest rates, it does also means that these securities are negatively impacted by declining interest rates and historically see valuations decrease during declining interest rates
• Potentially attractive yield. Since preferred shares and other hybrid fixed income securities sit lower on the capital structure than traditional bonds, they typically pay a more attractive yield than traditional corporate bonds

Investment Objective

HYBR seeks to provide Unitholders with a high level of income by investing in a portfolio of debt and other debt-like securities, including but not limited to hybrid corporate debt (“Hybrids”), Alternative Tier 1 Capital (“AT1”) (such as LRCNs), and income generating equities, including but not limited to preferred securities (fixed-rate perpetual, fixed floating rate, retractable and floating rate), of Canadian and U.S. companies. HYBR may hedge some or all of its non-Canadian dollar currency exposure at the discretion of its Sub-Advisor.

As of March 10, 2021, the ETF name and ticker were changed. The ETF was previously named Horizons Active Floating Rate Preferred Share ETF (HFP). Subsequent to shareholder approval, the Investment Objective and Strategy of the ETF was also changed as of March 4, 2021.

Fund Details

Ticker
HYBR
Inception Date
October 01, 2013
Net Assets ?
$71,816,336
As at August 12, 2022
Consolidated Prior Day Volume ?
7,405
For August 12, 2022
Average Daily Trading Volume Over a 12 Month Period ?
27,139
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
0.55%
(Plus applicable sales tax)
Management Expense Ratio ?
0.65%
As at December 31, 2021
Currency
CAD
LEI ?
549300WPIMP1OM8C2K79
Most Recent Distributions Per Unit
0.03482
Estimated Annualized Yield ?
4.97%
12-Month Trailing Yield ?
4.80%
Distribution Frequency
Monthly
Record Date
July 29, 2022
NAV / Unit
$8.8343
Price
$8.69
Premium Discount
$-0.14
Premium Discount Percentage
-1.66%
Outstanding Shares
8,129,256
Weighted Average Duration ?
3.64
Average Credit Quality ?
--
Weighted Average Coupon ?
0.00
Weighted Average Yield to Maturity ?
5.33

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 Active Hybrid Bond and Preferred Share ETF -0.35 -1.06 -10.22 -10.03 -6.14 7.57 2.50 -- 2.65

**Fund performance since inception on October 01, 2013, as at July 31, 2022

Calendar Year Performance (%) *

2014 2015 2016 2017 2018 2019 2020 2021

Horizons Active Hybrid Bond and Preferred Share ETF

4.56 -13.41 8.38 16.79 -10.75 0.94 5.87 27.12

Distributions

Year Ex-Dividend Date Record Date Payment Date Payment Amount Reinvested Non-Cash Distributions Distribution Period
2022 07/28/2022 07/29/2022 08/11/2022 0.03482 Monthly
2022 06/29/2022 06/30/2022 07/13/2022 0.03566 Monthly
2022 05/30/2022 05/31/2022 06/10/2022 0.03566 Monthly
2022 04/28/2022 04/29/2022 05/11/2022 0.03566 Monthly
2022 03/30/2022 03/31/2022 04/12/2022 0.03741 Monthly
2022 02/25/2022 02/28/2022 03/10/2022 0.03741 Monthly
2022 01/28/2022 01/31/2022 02/10/2022 0.03741 Monthly
2021 12/30/2021 12/31/2021 01/13/2022 0.03197 Monthly
2021 11/29/2021 11/30/2021 12/10/2021 0.03197 Monthly
2021 10/28/2021 10/29/2021 11/10/2021 0.03197 Monthly
2021 09/28/2021 09/29/2021 10/13/2021 0.03188 Monthly
2021 08/30/2021 08/31/2021 09/13/2021 0.03188 Monthly
2021 07/29/2021 07/30/2021 08/12/2021 0.03188 Monthly
2021 06/29/2021 06/30/2021 07/13/2021 0.03232 Monthly
2021 05/28/2021 05/31/2021 06/10/2021 0.0323 Monthly
2021 04/29/2021 04/30/2021 05/12/2021 0.0323 Monthly
2021 03/30/2021 03/31/2021 04/13/2021 0.0305 Monthly

Sector Allocation

As at July 31, 2022
Financial Services 39.13%
Energy 22.14%
Utilities 13.33%
Fixed Income 11.89%
Telecommunications 8.23%
Real Estate 2.72%
Industrial Goods 1.98%
Cash and Cash Equivalent 0.55%
Consumer Services 0.02%

Preferred Share Ratings

As at July 29, 2022
Cash 2.92%
P1 0.70%
P2 42.82%
P3 43.62%
P4 or lower & N.R. 0.51%
Other 9.44%

Preferred Share Category

As at July 29, 2022
Hybrid 9.76%
Fixed-Floating 82.78%
Floating Rate 3.58%
Perpetual 3.76%

Top 10 Holdings

As at July 31, 2022
Security Name Weight
Toronto-Dominion Bank - Pfd Cl A Sr 1 2.29%
Enbridge Inc - Pfd Sr 11 2.17%
Royal Bank of Canada 4.20% PERP 2.14%
Canadian Imperial Bank Commerce - Pfd Cl A Sr 43 1.96%
Bank of Montreal - Pfd Cl B Sr 29 1.84%
Toronto-Dominion Bank - Pfd Cl B Sr 3 1.83%
Toronto-Dominion Bank - Pfd Sr 7 1.78%
Royal Bank of Canada - Pfd Sr BD 1.73%
Enbridge Inc - Pfd Cl A Sr 3 1.69%
Canadian Imperial Bank Commerce - Pfd Cl A Sr 39 1.58%
At a Glance

Attractive Yields, Interest Rate Protected

Horizons Active Hybrid Bond and Preferred Share ETF (HYBR) is an actively managed ETF that provides Canadian investors exposure to hybrid securities, such as preferred shares, hybrid bonds and limited recourse capital notes (LRCNs). These types of securities are generally referred to as hybrid securities, as they typically offer a combination of shared features with both traditional fixed income and equities

Key Features

• Fixed or predefined coupon payments. Due to the terms defined in the agreements on preferred shares and other hybrid fixed income securities, companies are less likely to miss a coupon payment than with their common shares
• Potentially benefits from rising interest rates. Most of the securities held by HYBR will have a rate-reset feature, where the coupon rate paid by the security will reset at a specified date (“the reset date”) to a pre-determined spread over a government benchmark bond rate. This feature means the price of these securities will historically rise with corresponding interest rates, it does also means that these securities are negatively impacted by declining interest rates and historically see valuations decrease during declining interest rates
• Potentially attractive yield. Since preferred shares and other hybrid fixed income securities sit lower on the capital structure than traditional bonds, they typically pay a more attractive yield than traditional corporate bonds

Product Facts

Investment Objective

HYBR seeks to provide Unitholders with a high level of income by investing in a portfolio of debt and other debt-like securities, including but not limited to hybrid corporate debt (“Hybrids”), Alternative Tier 1 Capital (“AT1”) (such as LRCNs), and income generating equities, including but not limited to preferred securities (fixed-rate perpetual, fixed floating rate, retractable and floating rate), of Canadian and U.S. companies. HYBR may hedge some or all of its non-Canadian dollar currency exposure at the discretion of its Sub-Advisor.

As of March 10, 2021, the ETF name and ticker were changed. The ETF was previously named Horizons Active Floating Rate Preferred Share ETF (HFP). Subsequent to shareholder approval, the Investment Objective and Strategy of the ETF was also changed as of March 4, 2021.

Fund Details

Ticker
HYBR
Inception Date
October 01, 2013
Net Assets ?
$71,816,336
As at August 12, 2022
Consolidated Prior Day Volume ?
7,405
For August 12, 2022
Average Daily Trading Volume Over a 12 Month Period ?
27,139
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
0.55%
(Plus applicable sales tax)
Management Expense Ratio ?
0.65%
 As at December 31, 2021
Currency
CAD
LEI ?
549300WPIMP1OM8C2K79
Most Recent Distributions Per Unit
0.03482
Estimated Annualized Yield ?
4.97%
12-Month Trailing Yield ?
4.80%
Distribution Frequency
Monthly
Record Date
July 29, 2022
NAV / Unit
$8.8343
Price
$8.69
Premium Discount
$-0.14
Premium Discount Percentage
-1.66%
Outstanding Shares
8,129,256
Weighted Average Duration ?
3.64
Average Credit Quality ?
--
Weighted Average Coupon ?
0.00
Weighted Average Yield to Maturity ?
5.33

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 Active Hybrid Bond and Preferred Share ETF -0.35 -1.06 -10.22 -10.03 -6.14 7.57 2.50 -- 2.65

**Fund performance since inception on October 01, 2013, as at July 31, 2022

Calendar Year Performance (%)

2014 2015 2016 2017 2018 2019 2020 2021
Horizons Active Hybrid Bond and Preferred Share ETF 4.56 -13.41 8.38 16.79 -10.75 0.94 5.87 27.12

Distributions

Year Ex-Dividend Date Record Date Payment Date Payment Amount Reinvested Non-Cash Distributions Distribution Period
2022 07/28/2022 07/29/2022 08/11/2022 0.03482 Monthly
2022 06/29/2022 06/30/2022 07/13/2022 0.03566 Monthly
2022 05/30/2022 05/31/2022 06/10/2022 0.03566 Monthly
2022 04/28/2022 04/29/2022 05/11/2022 0.03566 Monthly
2022 03/30/2022 03/31/2022 04/12/2022 0.03741 Monthly
2022 02/25/2022 02/28/2022 03/10/2022 0.03741 Monthly
2022 01/28/2022 01/31/2022 02/10/2022 0.03741 Monthly
2021 12/30/2021 12/31/2021 01/13/2022 0.03197 Monthly
2021 11/29/2021 11/30/2021 12/10/2021 0.03197 Monthly
2021 10/28/2021 10/29/2021 11/10/2021 0.03197 Monthly
2021 09/28/2021 09/29/2021 10/13/2021 0.03188 Monthly
2021 08/30/2021 08/31/2021 09/13/2021 0.03188 Monthly
2021 07/29/2021 07/30/2021 08/12/2021 0.03188 Monthly
2021 06/29/2021 06/30/2021 07/13/2021 0.03232 Monthly
2021 05/28/2021 05/31/2021 06/10/2021 0.0323 Monthly
2021 04/29/2021 04/30/2021 05/12/2021 0.0323 Monthly
2021 03/30/2021 03/31/2021 04/13/2021 0.0305 Monthly
Holdings

Sector Allocation

As at July 31, 2022
Financial Services 39.13%
Energy 22.14%
Utilities 13.33%
Fixed Income 11.89%
Telecommunications 8.23%
Real Estate 2.72%
Industrial Goods 1.98%
Cash and Cash Equivalent 0.55%
Consumer Services 0.02%

Preferred Share Ratings

As at July 29, 2022
Cash 2.92%
P1 0.70%
P2 42.82%
P3 43.62%
P4 or lower & N.R. 0.51%
Other 9.44%

Preferred Share Category

As at July 29, 2022
Hybrid 9.76%
Fixed-Floating 82.78%
Floating Rate 3.58%
Perpetual 3.76%

Top 10 Holdings

As at July 31, 2022
Security Name Weight
Toronto-Dominion Bank - Pfd Cl A Sr 1 2.29%
Enbridge Inc - Pfd Sr 11 2.17%
Royal Bank of Canada 4.20% PERP 2.14%
Canadian Imperial Bank Commerce - Pfd Cl A Sr 43 1.96%
Bank of Montreal - Pfd Cl B Sr 29 1.84%
Toronto-Dominion Bank - Pfd Cl B Sr 3 1.83%
Toronto-Dominion Bank - Pfd Sr 7 1.78%
Royal Bank of Canada - Pfd Sr BD 1.73%
Enbridge Inc - Pfd Cl A Sr 3 1.69%
Canadian Imperial Bank Commerce - Pfd Cl A Sr 39 1.58%

Related Posts

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