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Horizons BetaPro S&P/TSX Global Gold Bear+ ETF - HGD

ETF Overview

The fund seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the inverse (opposite) daily performance of the S&P/TSX Global Gold Index.

The Index consists of securities of global gold sector issuers listed on the TSX, NYSE, NASDAQ and AMEX.

The Forward Agreement Structure

The Fund utilizes a Forward Agreement structure to gain exposure to the target portfolio.

Be aware that the forward structure adds additional costs to the ETF. These costs are not included in the MER.

Key ETF Data

Category (main) Inverse Leveraged (2x Bear ie inverse) Global Equity: Sector Gold
Category (other)Inverse Leveraged (2x Bear)
Underlying Index S&P/TSX Global Gold Index
ETF Structure Passive type. Inverse Leveraged (2x). Endeavours to return 2x (200%) the inverse (opposite) daily Index return before fees/costs
Asset Class Equity
Sub-Asset Class Gold
Region Global
Issuer Horizons ETFs (Canada)
ETF Home Page Available here
Fund Facts
Inception Date June 26, 2007
Total Holdings Unknown
Distribution Frequency None
Leverage Yes 2x (200%) [Inverse]
Significant Currency Exposure No
Currency Hedging Not applicable
Management Fee 1.15%
Management Expense Ratio (MER) 1.36% *
Forward Structure Costs 0.50%

* 2011, 2010 (1.33%)

Trading Information
Ticker HGD
Exchange TSX (Toronto Stock Exchange)
Currency CAD
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:

ETF at TMX ETF at Morningstar

ETF Analysis

Leveraged ETFs expose you to significantly greater risk than non-leveraged ETFs - the greater the leverage, the greater the risk.

Before buying an ETF that employs leverage ensure you understand the additional risks the leverage exposes you to and how that leverage is employed.

These ETFs are reset/rebalanced daily. Consequently they will not and should not be expected to replicate the return (or 2x, inverse or inverse 2x) of their underlying index over any period of time other than daily.

The returns of leveraged ETFs over periods longer than one day will likely differ in amount and possibly direction from the performance of their underlying index for the same period. This effect becomes more pronounced as the volatility of the underlying index increases.

Investors should monitor investments in leveraged ETFs on a daily basis.

Typically leveraged ETFs are held for small periods only, frequently a single day.

Do not invest in leveraged ETFs unless you fully understand the risks involved and how your particular ETF works. You should have a high risk tolerance and ability to bear risk - if you don't, avoid leveraged ETFs.