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Horizons BetaPro S&P/TSX 60 Inverse ETF - HIX

ETF Overview

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 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) 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.

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

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.