TORONTO – July 21, 2020 – Horizons ETFs Management (Canada) Inc. (“Horizons ETFs” or the “Manager”) is announcing a change to the exposure of the Horizons Crude Oil Rolling Futures Index (the “Underlying Index”), the proprietary underlying index of the BetaPro Crude Oil Leveraged Daily Bull ETF1 (“HOU”) and the BetaPro Crude Oil Inverse Leveraged Daily Bear ETF2 (“HOD”, and together with HOU, the “ETFs”).
As a result of some stabilization of crude oil futures prices and negotiations with the ETFs counterparties, the Manager is announcing that the exposure of the Underlying Index will not roll to the December crude oil futures contract today, which is the contract expiry date for the current front-month August crude oil futures contract. The Underlying Index is now expected to remain exposed to the November crude oil futures contract until August 20, 2020, which is the contract expiry date for the September crude oil futures contract.
This change is in keeping with the Underlying Index’s goal disclosed in the prospectus of the ETFs, which is to endeavor to provide exposure to as close to the front month crude oil futures contract as is deemed reasonable by the Manager, based on the current market conditions for crude oil futures contracts and subject to negotiations with the counterparties.
The roll methodology for the Underlying Index (which includes roll dates, the primary and secondary futures contracts, and the allocation between the primary and secondary futures contract) may be changed at any time by the Manager in its sole discretion based on, among other things, negotiations with the ETFs’ counterparties, liquidity for the underlying primary and secondary futures contracts as the primary futures contract’s expiry approaches. The Manager posts the current roll methodology for the Horizons Crude Oil Rolling Futures Index on its website, www.HorizonsETFs.com.
About Horizons ETFs Management (Canada) Inc.
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 almost $14 billion of assets under management and 92 ETFs listed on major Canadian stock exchanges.
For all inquiries:
Contact Horizons ETFs at 1-866-641-5739 (toll-free) or (416) 933-5745 info@horizonsetfs.com
1 Previously known as the BetaPro Crude Oil Daily Bull ETF
2 Previously known as the BetaPro Crude Oil -1x Daily Bear ETF
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.
The Horizons Exchange Traded Products 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.
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