Horizons Morningstar Hedge Fund Index ETF - HHF

ETF Overview

The fund seeks investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that replicate the performance of the Morningstar Broad Hedge Fund Index, hedged to the Canadian Dollar.

The fund will use an index replication strategy that provides exposure to futures contracts, exchange traded funds, money market instruments and cash.

The fund does not invest, directly or indirectly, in the constituent hedge funds comprising the Hedge Fund Index.

Additional Index Information

The Morningstar Broad Hedge Fund Index is a rules-based, asset-weighted index based on the largest and broadest hedge fund database in the hedge fund industry.

The Hedge Fund Index is designed to capture the performance and behaviour of the most liquid hedge funds offering exposure to a wide spectrum of core and category hedge fund strategies.

The Hedge Fund Index is comprised of between 600 and 800 U.S. based hedge funds from a universe of more than 7,000 single-strategy and fund-of-fund hedge funds.

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 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

Fundamentals
Category (main)	Active Global Multi-Asset Class - Hedge Funds
Category (other)	Multi-Asset Class - Hedge Funds
Underlying Index	Morningstar Broad Hedge Fund Index
ETF Structure	Active management with index
Asset Class	Multi-Asset Class
Sub-Asset Class	Hedge Funds
Region	Global (index tracks USA-based hedge funds)
Issuer	Horizons ETFs (Canada)
ETF Home Page	Available here

Fund Facts
Inception Date	April 25, 2012
Total Holdings	Unknown
Distribution Frequency	Annually
Leverage	Yes *
Significant Currency Exposure	Yes
Currency Hedging	Yes

* Average leverage ratio is 2.28:1

Fees
Management Fee	0.95%
Management Expense Ratio (MER)	Unknown *
Forward Structure Costs	0.45%

* Not available yet

Trading Information
Ticker	HHF
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: