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TORONTO November 29, 2023 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) announced today the estimated non-cash distributions (the “Non-Cash Distributions”) to unitholders of certain exchange traded funds (the “ETFs”) it manages for the 2023 tax year as indicated in the table below. Those ETFs managed by Horizons ETFs not listed in the table are not expected to have Non-Cash Distributions for the 2023 tax year.

Please note that these are estimated amounts only as of November 28, 2023. Circumstances may arise which could cause these estimates to change before the ETFs’ applicable tax year ends on December 15, 2023.

Each ETF is required to distribute any net income and capital gains it has earned during the year. The Non-Cash Distributions will be automatically reinvested in additional units of the respective ETFs and immediately consolidated so that the number of units held by the unitholder (the outstanding units of the ETFs) and the net asset value of the ETFs will not change as a result of the Non-Cash Distributions. The annual Non-Cash Distributions will be reported to unitholders as taxable distributions and will increase each unitholder’s adjusted cost base for the respective ETF. The Non-Cash Distributions may be income and/or capital gains in nature. These estimated amounts are for the Non-Cash distributions only and do not include any estimates of the regular monthly or quarterly cash distributions, as applicable, including income and capital gains amounts that may form a part of the monthly and/or quarterly distributions.

Horizons ETFs expects to announce the final year-end Non-Cash Distribution amounts, as well as any regular monthly or quarterly cash distribution amounts, on or about December 20, 2023. The ex-dividend dates for all of these distributions (cash and non-cash) are anticipated to be December 28, 2023 and December 29, 2023, for all unitholders of record on December 29, 2023. In early 2024, the tax characteristics of all distributions for 2023 for the ETFs will be reported to brokers via the Clearing and Depository Services Inc. (CDS) and will be posted on our website shortly thereafter.


ETF Name  




Non-Cash Distributions per Unit as of

Nov. 28, 2023 (1)

Net Asset Value (NAV) per Unit as of            Nov. 28, 2023 Estimated

Non-Cash Distributions as a % of NAV as of

Nov. 28, 2023

Horizons Seasonal Rotation ETF HAC $0.25655 $27.19664 0.94%
Horizons Pipelines & Energy Services Index ETF HOG $0.50505 $9.93824 5.08%
Horizons Inovestor Canadian Equity Index ETF INOC $0.12005 $13.55810 0.89%
Horizons Global Uranium Index ETF HURA $0.35273 $35.24747 1.00%
Horizons Canadian Utility Services High Dividend Index ETF UTIL $0.29374 $19.83358 1.48%
Horizons Copper Producers Index ETF COPP $1.41442 $23.72611 5.96%
Horizons 0-3 Month U.S. T-Bill ETF(2) UBIL.U $0.93864 $50.18633 1.87%
  • Distributions for all of the ETFs listed in the table are expected to be capital gains in nature.
  • The ex-dividend date for Horizons 0-3 Month U.S. T-Bill ETF distributions is anticipated to be December 29, 2023.

About Horizons ETFs Management (Canada) Inc. (

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $28 billion of assets under management and 119 ETFs listed on major Canadian stock exchanges. Horizons ETFs is a wholly owned subsidiary of the Mirae Asset Financial Group, which manages approximately $710 billion of assets across 13 countries around the world.

For further information: (416) 933-5745 or (866) 641-5739