ETF Sage
Canadian ETF knowledgebase
ETF Sage
Canadian ETF knowledgebase
The fund 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 500.
Any U.S. dollar gains or losses as a result of the ETF's investment will be hedged back to the Canadian dollar to the best of its ability.
The S&P 500 Index is an index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities, reflecting the risk/return characteristics of the large cap universe. The Index is one of the most commonly used benchmarks for the overall U.S. stock market.
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.
| Fundamentals | |
|---|---|
| Category (main) | Inverse USA Equity - Large Cap |
| Category (other) | Inverse |
Underlying Index  |
S&P 500 Index |
| ETF Structure | Passive type. Inverse. Endeavours to return the inverse (opposite) daily Index return before fees/costs |
| Asset Class |
Equity - Large Cap |
| Region |
USA |
| Issuer | Horizons ETFs (Canada) |
| ETF Home Page | Available here |
| Fund Facts | |
|---|---|
| Inception Date | Feb 10, 2010 |
| Total Holdings |
Unknown |
Distribution Frequency  |
None |
| Leverage |
None |
| Significant Currency Exposure
|
Yes |
| Currency Hedging
|
Yes |
| Fees | |
|---|---|
| Management Fee |
1.15% |
| Management Expense Ratio (MER) |
1.32% * |
| Forward Structure Costs | 0.50% |
* 2011, 2010 (1.35%)
| Trading Information | |
|---|---|
| Ticker | HIU |
| 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.
To view the TSX or Morningstar fund page for this ETF click on the Fund Data menu tab or below:
Inverse ETFs are reset/rebalanced daily. Consequently they will not and should not be expected to replicate the return (or inverse return) of its underlying index over any period of time other than daily.
The returns of inverse 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 inverse ETFs on a daily basis.
When inverse ETFs are held, they are typically held for small periods only - often just a single day.
Do not invest in inverse ETFs unless you fully understand the risks involved and how your particular ETF works.