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/TSX 60 Index.
The Index represents the large cap universe for Canada by offering exposure to 60 of the largest companies on the Toronto Stock Exchange. The S&P/TSX 60 Index is the basis for the most highly traded futures contract in Canada.
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 Canadian Equity Large Cap |
| Category (other) | Inverse |
Underlying Index  |
S&P/TSX 60 Index |
| ETF Structure | Passive type. Inverse. Endeavours to return the inverse (opposite) daily Index return before fees/costs |
| Asset Class |
Equity |
| Sub-Asset Class | Large Cap |
| Region |
Canada |
| Issuer | Horizons ETFs (Canada) |
| ETF Home Page | Available here |
| Fund Facts | |
|---|---|
| Inception Date | Jan 8, 2007 |
| Total Holdings |
Unknown |
Distribution Frequency  |
None |
| Leverage |
None |
| Significant Currency Exposure
|
No |
| Currency Hedging
|
Not applicable |
| Fees | |
|---|---|
| Management Fee |
1.15% |
| Management Expense Ratio (MER) |
1.35% * |
| Forward Structure Costs | 0.50% |
* 2011, 2010 (1.34%)
| Trading Information | |
|---|---|
| Ticker | HIX |
| 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.