Horizons ETFs Lowers Management Fee of its Equal Weight Canada Banks ETF
TORONTO, Nov. 2, 2021 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") has lowered the management fee of the Horizons Equal Weight Canada Banks Index ETF ("HEWB" or the "ETF").
The below change was effective as of the close of business on November 1, 2021:
ETF | Ticker
| Previous Management Fee* | New Management Fee* |
Horizons Equal Weight Canada Banks Index ETF | HEWB | 0.30% | 0.25% |
*Plus applicable sales tax |
The investment objective of the ETF remains unchanged. HEWB seeks to replicate, to the extent possible, the performance of the Solactive Equal Weight Canada Banks Index (Total Return) (the "Index"), net of expenses. The Index is an equally-weighted basket of the equity securities of the six largest Canadian banks.
HEWB is part of Horizons ETFs family of Total Return Index ("TRI") ETFs. All of the Horizons TRI ETFs are part of a single, multi-class corporate structure, which permits the ETFs to improve operational efficiency, aggregate all future gains and losses on both the income and capital accounts and substantially reduce the likelihood of distributions.
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 $20 billion of assets under management and 102 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.
SOURCE Horizons ETFs Management (Canada) Inc.
