Horizons Seasonal Rotation ETF - HAC

ETF Overview

This fund utilizes a seasonal investing strategy.

Investing with historically demonstrated buy and sell dates during times of the year when markets and sectors have traditionally outperformed because of one or more recurring annual events.

The fund's investment objective is long-term capital appreciation in all market cycles by tactically allocating its exposure amongst equities, fixed income, commodities and currencies during periods that have historically demonstrated seasonal trends.

Additional Fund Information

HAC uses a proprietary, seasonal rotation investment strategy developed by research analysts Don Vialoux/Brooke Thackray/Jon Vialoux.

The strategy's core position consists of broad markets at seasonally favourable times of the year and money market securities at seasonally unfavourable times of the year.

The strategy allocates from the core portfolio to various sectors when those sectors offer favourable opportunities.

Rotating a portfolio in anticipation of these opportunities is designed to deliver returns that are superior to a static investment in broad markets.

As seasonal periods are never the same, this investment strategy is supported by additional fundamental and technical analysis.

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:

5% annualized return

Key ETF Data

Fundamentals
Category (main)	Active North American Multi-Asset Class: Seasonal Rotation strategy
Category (other)	Multi-Asset Class - Seasonal Rotation strategy
Underlying Index	No Index
ETF Structure	Active management. No index
Asset Class	Multi-Asset Class
Region	North American
Issuer	Horizons ETFs (Canada)
ETF Home Page	Available here

Fund Facts
Inception Date	Nov 19, 2009
Total Holdings	Unknown
Distribution Frequency	Annually
Leverage	Maybe *
Significant Currency Exposure	Yes
Currency Hedging	Maybe **

* Investment manager may employ maximum 10% leverage

** Currency hedging at discretion of investment manager

Fees
Management Fee	0.75%
Management Expense Ratio (MER)	1.72% *
Performance Fee	20% over High Water Mark plus Benchmark

* 2011, 2010 (3.41%), 2009 (3.05%)

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

Eligibility
Eligibility *	RRSP, RRIF, RESP, TFSA, DPSP, RDSP
DRIP available **	No
PACC Plan available **	No
SWP available **	No

* 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: