Horizons ETFs has launched the Horizons Intl Developed Markets Equity Index ETF. The ETF provides tax-efficient, indirect exposure to the MSCI EAFE Index. The management fee is 0.20%.

Read: Look for these fastest-growing emerging markets

The fund seeks to replicate, to the extent possible, the performance of the Horizons EAFE Futures Roll Index, net of expenses. The index reflects returns generated over time of notional investments that represent a long position in a series of futures contracts on the MSCI EAFE Index.

The fund uses Horizons ETFs’ total return index (TRI) structure to replicate the returns of the index. This structure is designed to enhance the after-tax performance benefits of the ETF.

No distributions are expected to be paid by the fund. Instead, the value of any dividend or interest income is directly reflected in the performance of the ETF, which leads to greater tax efficiency for investors who hold the ETF in non-registered investment accounts. In addition, tracking error is reduced with the TRI structure since there are no physical replication trading costs.

Also read:

Canada to get its first cryptocurrency ETF

First Asset expands suite of MSCI index-based ETFs