Horizons Tactical Absolute Return Bond ETF Available in U.S. Dollar Denominated Shares

U.S. dollar denominated series of shares of the Horizons Tactical Absolute Return Bond ETF will trade under ticker HARB.U  

TORONTO, April 22, 2021 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") is pleased to announce the launch of a U.S. dollar denominated series of shares of the Horizons Tactical Absolute Return Bond ETF. These shares will trade on the Toronto Stock Exchange ("TSX") under the ticker symbol HARB.U ("HARB.U").

The launch of HARB.U follows the launch of two other series of the Horizons Tactical Absolute Return Bond ETF, which were launched on December 8, 2020, under the ticker symbols HARB (the "Total Return Series Shares") and HARB.J ("HARB.J" or the "Dividend Series Shares"). The new U.S. dollar denominated shares will provide unhedged exposure to the ETF' portfolio, which, under normal market conditions, is not expected to make any distributions, similar to the Total Return Series Shares used by HARB.

ETF Name




Horizons Tactical Absolute Return Bond ETF


Total Return Series Shares


Horizons Tactical Absolute Return Bond ETF


Dividend Series Shares


Horizons Tactical Absolute Return Bond ETF


USD Unhedged Total Return Series Shares


All three series of shares of the ETF seek to provide positive absolute returns with low volatility over a market cycle regardless of market conditions or general market direction. The ETF tactically takes long and short positions in North American and global debt instruments and derivatives across the credit spectrum.  

Unlike HARB, which only accepts subscriptions in Canadian dollars and tactically hedges its currency exposure and employs tactical FX hedging, HARB.U will only accept subscriptions in U.S. dollars and does not employ any FX hedging.

The ETF can take long or short positions, using leverage up to three-times (300%) of its net asset value, across a variety of North American and global income-producing instruments including, but not limited to: government debt, corporate debt, preferred shares, fixed income derivatives, and other income-producing instruments, as part of a variety of sophisticated strategies.

"Since we launched HARB and HARB.J in December 2020, we have seen considerable interest across the investor spectrum for a U.S. dollar version that can also deliver absolute returns in what has been a challenging fixed income environment to navigate using traditional strategies," said Steve Hawkins, President & CEO of Horizons ETFs. "With increased volatility in the fixed income market in 2021, we believe it is more critical than ever to offer Canadian fixed income investors the tools that allow them to navigate this market turbulence, which would include having flexibility with their currency exposure."

The ETF is sub-advised by DMAT Capital Management ("DMAT").

HARB.U has closed its initial offering of shares and will begin trading on the TSX when the market opens tomorrow morning. Please refer to the prospectus and/or our website for more information about the ETF.

About DMAT Capital Management

DMAT is a boutique portfolio management firm founded by renowned Canadian fixed income manager, Barry Allan, who has nearly 40 years of industry experience running investment mandates involved in the full spectrum of the fixed income world, from government bonds, investment-grade bonds, high-yield bonds and distressed bonds. DMAT currently has a team of four investment professionals, led by Mr. Allan, that specialize in creating specialized and non-traditional fixed income strategies designed to meet the needs of Canadian financial advisors and their high-net-worth clientele.

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 currently has approximately $18 billion of assets under management and 92 ETFs listed on major Canadian stock exchanges.

Commissions, management fees and expenses all may be associated with an investment in Horizons Tactical Absolute Return Bond ETF ("the ETF") managed by Horizons ETFs Management (Canada) Inc. The ETF is an alternative mutual fund within the meaning of National instrument 81-102, Investment Funds, and is permitted to use strategies generally prohibited by conventional mutual funds and ETFs, such as borrowing cash, selling securities short, and employing leverage of up to 300%, amongst others. The use of these strategies may accelerate the risk associated with the ETF. The ETF Is not guaranteed, its values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the ETF. Please read the prospectus and its risk disclosure before investing.

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.