TORONTO, Nov. 9, 2020 /CNW/ - Horizons ETFs
Management (Canada) Inc.
("Horizons ETFs" or the "Manager") is announcing a
change to the BetaPro Crude Oil Leveraged Daily Bull ETF
("HOU") and the BetaPro Crude Oil Inverse Leveraged Daily
Bear ETF ("HOD", and together with HOU, the "ETFs").
After the market close for crude oil futures (2:30pm EST) on November
10, 2020, HOU will seek to deliver 1.5 times the daily
performance, and HOD will seek to deliver 1.5 times the inverse
(opposite) of the daily performance, of the Horizons Crude Oil
Rolling Futures Index (the "Underlying Index").
The investment objectives of the ETFs provide for up to
two times (200%) (HOU), and up to two times (200%) the
inverse (HOD), the daily performance of the Underlying Index.
Subject to negotiations with the counterparties, the Manager
anticipates under normal market conditions to manage the leverage
ratio to be as close to two times (200%) as practicable, however
the Manager can, at its sole discretion, change the leverage ratio
based on the current market conditions for crude oil futures
contracts at that time.
In accordance with the Manager's assessment of the crude oil
futures market, and the Manager's negotiations with the ETFs'
counterparties, the Manager has determined that, as noted above,
and until further public notice is provided by the Manager, HOU and
HOD will provide 1.5 times, and -1.5 times respectively, the daily
performance of the Underlying Index. The Underlying Index is
currently invested in the January
2021 crude oil contract and will roll into the February 2021 crude oil contract on November 20, 2020.
The current roll methodology for the Horizons Crude Oil Rolling
Futures Index is posted on the Horizons ETFs website
www.HorizonsETFs.com.
About Horizons ETFs Management (Canada)
Inc. (www.HorizonsETFs.com)
Horizons ETFs Management (Canada) Inc. is an innovative financial
services company and offers one of the largest suites of exchange
traded funds in Canada. The
Horizons ETFs product family includes a broadly diversified range
of solutions for investors of all experience levels to meet their
investment objectives in a variety of market conditions. Horizons
ETFs has more than $15 billion of
assets under management and 93 ETFs listed on major Canadian stock
exchanges.
Commissions, management fees and expenses all may be
associated with an investment in exchange traded products (the
"Horizons Exchange Traded Products") managed by Horizons ETFs
Management (Canada) Inc. The
Horizons Exchange Traded Products are not guaranteed, their values
change frequently and past performance may not be repeated. The
prospectus contains important detailed information about the
Horizons Exchange Traded Products. Please read the relevant
prospectus before investing.
Certain Horizons Exchange Traded Products like HOU and HOD
may have exposure to leveraged investment techniques that magnify
gains and losses and which may result in greater volatility in
value and could be subject to aggressive investment risk and price
volatility risk. Such risks are described in the
prospectus.
Certain statements may constitute a forward-looking
statement, including those identified by the expression "expect"
and similar expressions (including grammatical variations thereof).
The forward-looking statements are not historical facts but reflect
the author's current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. These and other
factors should be considered carefully and readers should not place
undue reliance on such forward-looking statements. These
forward-looking statements are made as of the date hereof and the
authors do not undertake to update any forward-looking statement
that is contained herein, whether as a result of new information,
future events or otherwise, unless required by applicable
law.
SOURCE Horizons ETFs Management (Canada) Inc.