Horizons Active Preferred Share ETF - HPR

ETF Overview

The investment objective of the fund is to provide dividend income while preserving capital by investing primarily in preferred shares of Canadian companies.

The ETF may also invest in preferred shares of companies located in the United States, fixed income securities of Canadian and U.S. issuers, including other income generating securities, as well as Canadian equity securities and exchange traded funds that issue index participation units.

The ETF, to the best of its ability, seeks to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.

To achieve the ETF's investment objectives, the Sub-Advisor uses fundamental research to select companies that, based on the Sub-Advisor's view on the company's industry and growth prospects should be included in the ETF's investment portfolio.

An extensive credit analysis for each security as well as an assessment of each company's risk profile is completed in order to confirm the selection and relative weight of each security held by the ETF.

The ETF:

Primarily invests in the preferred securities of Canadian issuers whose debt, generally, at a minimum, have an investment grade rating at the time of purchase.
May also invest in preferred shares of companies located in the United States, fixed income securities of Canadian and U.S. issuers, including other income generating securities.
May also invest in Canadian equity securities that have attractive dividend yields and exchange traded funds that issue index participation units that pay dividend income.

Active Management

This fund has an active management mandate ( A minority of ETFs have an active investment management mandate or a degree of active investment management. Full active management involves an investment manager actively managing the fund - deciding which securities to buy/sell, and when etc. However, many 'active' ETFs employ only partial active investment management, not full. ), not passive ( Most ETFs are passively managed - they have no active investment management. Passive ETFs simply try to replicate the returns of an index as closely as possible, such as the S&P/TSX 60 Index. ).

The fund's benchmark ( Most actively managed funds have a benchmark. The fund manager typically aims to exceed the performance of that benchmark. ) is:

None stated

Key ETF Data

Fundamentals
Category (main)	Active North American Equity Preferred Shares
Category (other)	Active Preferred Shares
Underlying Index	No Index
ETF Structure	Active management. No index
Asset Class	Equity
Region	North America: Canada (mostly), USA (some)
Issuer	Horizons ETFs (Canada)
ETF Home Page	Available here

Fund Facts
Inception Date	Nov 23, 2010
Total Holdings	Unknown
Distribution Frequency	Monthly
Leverage	None
Significant Currency Exposure	Some
Currency Hedging	Yes

Fees
Management Fee	0.55%
Management Expense Ratio (MER)	0.62% *

* 2011 MER, 2010 MER (0.59%)

Trading Information
Ticker	HPR
Exchange	TSX (Toronto Stock Exchange)
Currency	CAD

Eligibility
Eligibility *	RRSP, RRIF, RESP, TFSA, DPSP, RDSP
DRIP available **	Yes
PACC Plan available **	Yes
SWP available **	Yes

* Always check eligibility with your plan operator as plans and accounts can differ

** Not all brokers can facilitate these plans. Check with your broker.

Current Price, Fund Performance, Yield, NAV, Charts etc

To view the TSX or Morningstar fund page for this ETF click on the Fund Data menu tab or below: