Horizons ETFs has launched the Horizons Active Cdn Municipal Bond ETF, which provides diversified exposure to Canada’s municipal bond market.

Units of the ETF will begin trading today on the TSX in Canadian dollars under the ticker symbols HMP (Class E units) and HMP.A (Advisor Class units).

HMP is an actively managed ETF, sub-advised by Fiera Capital, that invests primarily in a portfolio of Canadian municipal bonds, denominated in Canadian dollars.

Up to 75% of HMP’s portfolio can be invested in non-rated Canadian municipal bonds.
Non-rated bonds are generally issued by mid-size municipalities and offer a slightly higher yield than the rated debt of larger Canadian cities. Fiera Capital undertakes an extensive independent credit analysis to find the most attractive opportunities among non-rated issues.