TORONTO – December 20, 2023 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) is pleased to announce the distribution amounts per security (the “Distributions”) for its exchange traded funds (the “ETFs”), for the period ending December 31, 2023, as indicated in the tables below.
Each ETF is required to distribute any net income and capital gains that they have earned in the year. All of the Distributions indicated as “Cash Distribution per Security” in the table (the “Cash Distributions”) will be paid in cash unless the securityholder has enrolled in the dividend reinvestment plan (“DRIP”) of the respective ETF.
The estimated annual non-cash Distributions, indicated as “Reinvested Annual Non-Cash Distributions per Security (Est.)” in the table (the “Non-Cash Distributions”), will not be paid in cash but will be reinvested and reported as taxable Distributions and will be used to increase each securityholder’s adjusted cost base of their securities of the respective ETF. The Non-Cash Distributions will be reinvested automatically in additional securities of the respective ETFs and immediately consolidated so that the number of securities held by the securityholder, the securities outstanding 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 Distribution rates in the table below are presented on an estimated basis. A press release confirming the final annual Non-Cash Distribution rates will be disseminated on or about the record date of the Distributions.
The ex-dividend date for the Distributions is anticipated to be December 28, 2023, for all ETFs.
| ETF Name | Ticker Symbol | Distribution per Security | Frequency | Reinvested Non-Cash Income Distribution per Security (Est.) | Estimated Non-Cash Distribution as % of NAV |
| Horizons Seasonal Rotation ETF | HAC | $0.31760 | Annually | $0.71471 | 2.51% |
| Horizons Robotics & AI Index ETF(1) | RBOT | $0.03011 | Annually | – | – |
| RBOT.U | $0.03011 | Annually | – | – | |
| Horizons Global Uranium Index ETF | HURA | $0.35774 | Annually | – | – |
| Horizons Big Data & Hardware Index ETF(2) | HBGD | $0.17216 | Annually | – | – |
| HBGD.U | $0.17216 | Annually | – | – | |
| Horizons Global Lithium Producers Index ETF | HLIT | $0.70350 | Annually | – | – |
| Horizons Global Semiconductor Index ETF(3) | CHPS | $0.16820 | Annually | – | – |
| CHPS.U | $0.16820 | Annually | – | – | |
| Horizons GX Cybersecurity Index ETF | HBUG | $0.34694 | Annually | – | – |
| Horizons Copper Producers Index ETF | COPP | $0.19936 | Annually | $1.41478 | 5.13% |
| Horizons Active Cdn Dividend ETF | HAL | $0.14250 | Quarterly | – | – |
| Horizons Active Global Dividend ETF | HAZ | $0.12250 | Quarterly | – | – |
| Horizons Pipelines & Energy Services Index ETF | HOG | $0.10500 | Quarterly | $0.45195 | 4.41% |
| Horizons Inovestor Canadian Equity Index ETF | INOC | $0.07500 | Quarterly | $0.07640 | 0.54% |
| Horizons Global Sustainability Leaders Index ETF | ETHI | $0.12500 | Quarterly | – | – |
| Horizons S&P Green Bond Index ETF | HGGB | $0.19663 | Quarterly | – | – |
| Horizons Active Corporate Bond ETF | HAB | $0.03200 | Monthly | – | – |
| Horizons Active Cdn Bond ETF | HAD | $0.02100 | Monthly | – | – |
| Horizons Active Global Fixed Income ETF | HAF | $0.03200 | Monthly | – | – |
| Horizons Active Hybrid Bond and Preferred Share ETF |
HYBR |
$0.03400 |
Monthly |
– |
– |
| Horizons Active Ultra-Short Term Investment Grade Bond ETF |
HFR |
$0.04750 |
Monthly |
$0.05665 |
0.57% |
| Horizons Active Cdn Municipal Bond ETF | HMP | $0.02150 | Monthly | – | – |
| Horizons Active Preferred Share ETF | HPR | $0.03400 | Monthly | – | – |
| Horizons Active Floating Rate Senior Loan ETF | HSL | $0.04800 | Monthly | – | – |
| Horizons Active Ultra-Short Term US Investment Grade Bond ETF(4) | HUF.U | $0.04000 | Monthly | – | – |
| HUF | $0.04000 | Monthly | – | – | |
| Horizons Active High Yield Bond ETF | HYI | $0.03850 | Monthly | – | – |
| Horizons Tactical Absolute Return Bond ETF | HARB.J | $0.03700 | Monthly | – | – |
| Horizons Active ESG Corporate Bond ETF | HAEB | $0.02900 | Monthly | – | – |
| Horizons Canadian Utility Services High Dividend Index ETF | UTIL |
$0.07900 |
Monthly |
– |
– |
| Horizons Conservative Asset Allocation ETF | HCON | $0.03000 | Monthly | – | – |
| Horizons Balanced Asset Allocation ETF | HBAL | $0.03000 | Monthly | – | – |
| Horizons Growth Asset Allocation ETF | HGRW | $0.04000 | Monthly | – | – |
| Horizons All-Equity Asset Allocation ETF | HEQT | $0.02500 | Monthly | – | – |
| Horizons Equal Weight Banks Index ETF | HBNK | $0.08500 | Monthly | – | – |
| Horizons Equal Weight Canadian Bank Covered Call ETF |
BKCC |
$0.15000 |
Monthly |
– |
– |
| Horizons Canadian Oil and Gas Equity Covered Call ETF |
ENCC |
$0.13000 |
Monthly |
– |
– |
| Horizons US Large Cap Equity Covered Call ETF(5) | USCC.U | $0.12000 | Monthly | – | – |
| USCC | $0.12000 | Monthly | – | – | |
| Horizons NASDAQ-100 Covered Call ETF | QQCC | $0.10750 | Monthly | – | – |
| Horizons Canadian Large Cap Equity Covered Call ETF |
CNCC |
$0.10000 |
Monthly |
– |
– |
| Horizons Gold Yield ETF | HGY | $0.05000 | Monthly | – | – |
| Horizons Gold Producer Equity Covered Call ETF | GLCC | $0.22000 | Monthly | – | – |
| Horizons Enhanced Equal Weight Banks Index ETF | BNKL | $0.09500 | Monthly | – | – |
| Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF |
BKCL |
$0.24500 |
Monthly |
– |
– |
| Horizons Enhanced S&P/TSX 60 Index ETF | CANL | $0.07000 | Monthly | – | – |
| Horizons Enhanced Canadian Large Cap Equity Covered Call ETF |
CNCL |
$0.20000 |
Monthly |
– |
– |
| Horizons Enhanced US Large Cap Equity Covered Call ETF |
USCL |
$0.23000 |
Monthly |
– |
– |
| Horizons Enhanced NASDAQ-100 Covered Call ETF |
QQCL |
$0.25000 |
Monthly |
– |
– |
| Horizons Enhanced Canadian Oil and Gas Equity Covered Call ETF |
ENCL |
$0.29000 |
Monthly |
– |
– |
| Horizons Enhanced All-Equity Asset Allocation Covered Call ETF |
EQCL |
$0.19500 |
Monthly |
– |
– |
| Horizons Enhanced All-Equity Asset Allocation ETF | HEQL | $0.04000 | Monthly | – | – |
| Horizons Growth Asset Allocation Covered Call ETF | GRCC | $0.14000 | Monthly | – | – |
| Horizons Short-Term U.S. Treasury Premium Yield ETF(6) | SPAY.U | $0.12500 | Monthly | $0.00001 | 0.00% |
| SPAY | $0.12500 | Monthly | $0.00001 | 0.00% | |
| Horizons Mid-Term U.S. Treasury Premium Yield ETF(6) | MPAY.U | $0.15000 | Monthly | – | – |
| MPAY | $0.15000 | Monthly | – | – | |
| Horizons Long-Term U.S. Treasury Premium Yield ETF(6) | LPAY.U | $0.17500 | Monthly | – | – |
| LPAY | $0.17500 | Monthly | – | – |
The ex-dividend date for the following Distributions is anticipated to be December 29, 2023.
| ETF Name | Ticker Symbol | Distribution per Security | Frequency | Reinvested Non-Cash Income Distribution per Security (Est.) | Estimated Non-Cash Distribution as % of NAV |
| Horizons US Dollar Currency ETF(7) | DLR.U | $0.24830 | Quarterly | $0.00000 | 0.00% |
| DLR | $0.24830 | Quarterly | $0.00000 | 0.00% | |
| Horizons High Interest Savings ETF | CASH | $0.21500 | Monthly | $0.00000 | 0.00% |
| Horizons 0-3 Month T-Bill ETF | CBIL | $0.21000 | Monthly | $0.00000 | 0.00% |
| Horizons 0-3 Month U.S. T-Bill ETF(8) | UBIL.U | $0.21500 | Monthly | $0.71214 | 1.42% |
The record date for all ETFs will be December 29, 2023. The Distributions for securities of each ETF will be paid in cash or, if the securityholder has enrolled in the respective ETF’s dividend reinvestment plan, reinvested in additional securities of the applicable ETF, on or about January 8, 2024. The nominal payment date applied to the Non-Cash Distributions will also be January 8, 2024, though in actuality there will be no physical payment made as would be the case with the Cash Distributions.
(1) Distributions for Horizons Robotics & AI Index ETF are declared and paid in Canadian dollars, including those listed under the U.S. dollar traded ticker RBOT.U. The approximate U.S. dollar equivalent distribution rate for RBOT.U is $0.02258 per security. For securityholders who hold the U.S. dollar traded RBOT.U, distribution payments will typically be converted to U.S. dollars by the securityholder’s account holder.
(2) Distributions for Horizons Big Data & Hardware Index ETF are declared and paid in Canadian dollars, including those listed under the U.S. dollar traded ticker HBGD.U. The approximate U.S. dollar equivalent distribution rate for HBGD.U is $0.12910 per security. For securityholders who hold the U.S. dollar traded HBGD.U, distribution payments will typically be converted to U.S. dollars by the securityholder’s account holder.
(3) Distributions for Horizons Global Semiconductor Index ETF are declared and paid in Canadian dollars, including those listed under the U.S. dollar traded ticker CHPS.U. The approximate U.S. dollar equivalent distribution rate for CHPS.U is $0.12613 per security. For securityholders who hold the U.S. dollar traded CHPS.U, distribution payments will typically be converted to U.S. dollars by the securityholder’s account holder.
(4) Distributions for the Horizons Active Ultra-Short Term US Investment Grade Bond ETF are declared and paid in U.S. dollars, including those listed under the Canadian dollar-traded ticker HUF. The approximate Canadian dollar equivalent distribution rate for HUF is $0.05334 per security. For securityholders who hold the Canadian dollar-traded HUF, the securityholder’s account holder will typically convert distribution payments to Canadian dollars.
(5) Distributions for the Horizons US Large Cap Equity Covered Call ETF are declared and paid in U.S. dollars, including those listed under the Canadian dollar-traded ticker USCC. The approximate Canadian dollar equivalent distribution rate for USCC is $0.16003 per security. For securityholders who hold the Canadian dollar-traded USCC, the securityholder’s account holder will typically convert distribution payments to Canadian dollars.
(6) Distributions Horizons Short-Term U.S. Treasury Premium Yield ETF, Horizons Mid-Term U.S. Treasury Premium Yield ETF and Horizons Long-Term U.S. Treasury Premium Yield ETF are declared and paid in U.S. dollars, including those listed under the Canadian dollar-traded ticker SPAY, MPAY and LPAY. The approximate Canadian dollar equivalent distribution rate for SPAY is $0.16669 per security, for MPAY is $0.20003 per security and for LPAY is $0.23337 per security. For securityholders who hold the Canadian dollar-traded ticker, SPAY, MPAY and LPAY, the securityholder’s account holder will typically convert distribution payments to Canadian dollars.
(7) Distributions for the Horizons US Dollar Currency ETF are declared and paid in U.S. dollars, including those listed under the Canadian dollar-traded ticker DLR. The approximate Canadian dollar equivalent distribution rate for DLR is $0.33112 per security. For securityholders who hold the Canadian dollar-traded DLR, the securityholder’s account holder will typically convert distribution payments to Canadian dollars.
(8) Distributions for the Horizons 0-3 Month U.S. T-Bill ETF are declared and paid in U.S. dollars,
Distributions for the ETFs will vary from period to period. For further information regarding the Distributions, please visit www.HorizonsETFs.com.
About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)
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 $29 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 19 global markets around the world.
For further information:
info@horizonsetfs.com (416) 933-5745 or (866) 641-5739
Commissions, management fees, and expenses all may be associated with an investment in the Horizons Exchange Traded Products managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing. Investment funds are not covered by the Canada Deposit Insurance Corporation or any other government deposit insurer.
The payment of distributions, if any, is not guaranteed and may fluctuate at any time. The payment of distributions should not be confused with an Exchange Traded Fund’s (“ETF”) performance, rate of return, or yield. If distributions paid by the ETF are greater than the performance of the ETF, distributions paid may include a return of capital and an investor’s original investment will decrease. A return of capital is not taxable to the investor, but will generally reduce the adjusted cost base of the securities held for tax purposes. Distributions are paid as a result of capital gains realized by an ETF, and income and dividends earned by an ETF are taxable to the investor in the year they are paid. The investor’s adjusted cost base will be reduced by the amount of any returns of capital. If the investor’s adjusted cost base goes below zero, investors will realize capital gains equal to the amount below zero. Future distribution dates may be amended at any time. To recognize that these distributions have been allocated to investors for tax purposes the amounts of these distributions should be added to the adjusted cost base of the units held. The characterization of distributions, if any, for tax purposes, (such as dividends/other income/capital gains, etc.) will not be known for certain until after the ETF’s tax year-end. Therefore, investors will be informed of the tax characterization after year-end and not with each distribution if any. For tax purposes, these amounts will be reported annually by brokers on official tax statements. Please refer to the applicable ETF distribution policy in the prospectus for more information.
Certain statements may constitute a forward-looking statement, including those identified by the expression “expect” and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.
This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the “Horizons Exchange Traded Products”) and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor.