ETF Description
Horizons BetaPro S&P/TSX 60 Inverse ETF (HIX:CA)
Horizons HIX seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to one times (100%) the inverse (opposite) of the daily performance of the S&P/TSX 60 Index.
Horizons HIX takes positions in equity securities and/or other financial instruments that, in combination, should have similar daily return characteristics as one times (100%) the inverse (opposite) of the S&P/TSX 60 Index. In order to achieve this objective, the total underlying notional value of these instruments and/or securities will typically not exceed one times the total assets of the ETF. Assets not invested in financial instruments may be invested in debt instruments or money market instruments with a term not to exceed 365 days, or reverse repurchase agreements with a term not to exceed 30 days.
IFM Investment Tips:
In general, Inverse ETFs are not designed as a 'Buy & Hold' investment. They are rebalanced daily and investors are best to view them as a trading position to help defend against a short-term stock market downturns.
- Fact Sheet
- Link
- TMX Money ETF Screener
- Link
- Morningstar ETF Screener
- Link
- Website
- Link
- Underlying Index/Commodity
- Inverse of the S&P/TSX 60 Index
- Asset Category
- Hedging Investments
- Average Duration
- N/A
- Average Maturity
- N/A
- Currency
- Cdn$
- Date Established
- March 5, 2009
- Annual Management Fee
- 1.15% Plus 0.24% Operating Expenses (2016)
- Trading Expense Ratio (TER)
- 0.50% (2016)
- Management Expense Ratio (MER)
- 1.89% (2016)
- Additional Performance Fee(s)
- None
- Distributions
- None to date.
- Distribution Dates
- N/A
- Distribution Details
- Link
- Dividend Reinvestment Plan (DRIP)
- N/A
- Rebalancing Frequency
- Daily
- Portfolio Turnover Ratio
- The fund stopped reporting PTRs in 2015. PTR was 1,221.02% in 2014, 20.01% in 2013, 291.40% in 2012, 380.07% in 2011 and 238.97% in 2010
- Leverage
- None
- Simplified Prospectus
- Link
- Research
- Link
- Last Updated
- 2017-10-30