Horizons ETFs Management (Canada) Inc. has launched two ETFs that will provide investors with the lowest-cost exposure to the financials and energy sectors of the Canadian stock market.
The Horizons S&P/TSX Capped Financials Index ETF (“HXF”) and the Horizons S&P/TSX Capped Energy Index ETF (“HXE”) will begin trading on the TSX today under the following ticker symbols:
| ETF Name | Ticker Symbol | Annual
Management Fee* |
| Horizons S&P/TSX Capped Financials Index ETF | HXF | 0.35% |
| Horizons S&P/TSX Capped Energy Index ETF | HXE | 0.35% |
* plus applicable sales taxes
Both HXF and HXE have a management fee almost 40% less expensive than the next lowest-cost ETF tracking the same index.
Read: Getting tax back with ETFs
In other news, Horizons ETFs has extended HXT’s fee rebate of 2 basis points for another year, continuing the annual management fee investors pay on HXT at 5 basis points.
Launched in September 2010, HXT seeks to replicate the performance of the S&P/TSX 60 Index (Total Return), net of fees and expenses.
Read: The benefits of ETF fee transparency
“Since we announced the fee rebate in September 2012, we’ve seen more than $600 million of net inflows into HXT, primarily from institutional investors, making HXT one of the fastest growing ETFs in Canada,” says Howard Atkinson, President of Horizons ETFs.