{"id":54245,"date":"2023-07-19T14:01:39","date_gmt":"2023-07-19T13:01:39","guid":{"rendered":"https:\/\/www.etfworld.com\/nl\/?p=54245"},"modified":"2023-07-20T13:40:00","modified_gmt":"2023-07-20T12:40:00","slug":"solactive-horizons-etfs-launches-three-etfs","status":"publish","type":"post","link":"https:\/\/www.etfworld.com\/nl\/solactive-horizons-etfs-launches-three-etfs\/","title":{"rendered":"Solactive : Horizons ETFs Launches Three ETFs"},"content":{"rendered":"
Horizons ETFs Launches Three ETFs Tracking the Solactive Equal Weight Canada Banks Index<\/h5>\n
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Timo Pfeiffer, Chief Markets Officer at Solactive<\/strong><\/p>\n

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As a very regulated and supervised industry, the Canadian bank sector is recognized for its stability and resilience. In addition to that, Canadian banks are also known for their dividend payments and their diversified business models, both domestically and internationally, which helps mitigate risks.<\/strong><\/p>\n

Solactive is pleased to announce that Horizons ETFs launched three ETFs tracking the Solactive Equal Weight Canada Banks Index. Through an equally weighted methodology, the Solactive Equal Weight Canada Banks Index includes major and regional banks that are listed in the Toronto Stock Exchange Exchange.<\/strong><\/p>\n

The Horizons Equal Weight Banks Index ETF<\/strong> (ticker HBNK<\/strong>) aims to mirror the index\u2019s performance without utilizing leverage. The Horizons Enhanced Equal Weight Banks Index ETF<\/strong> (ticker BNKL<\/strong>) seeks to replicate the index\u2019s performance 1.25 times (125%). The Horizons Enhanced Equal Weight Canadian Banks Covered Call ETF<\/strong> (ticker BKCL<\/strong>) tracks the index\u2019s performance while offering substantial monthly distributions from dividends and call option income. It utilizes a dynamic covered call option writing program to generate income. Additionally, it employs leverage through cash borrowing and maintains a leverage ratio of approximately 125%. These strategies, namely leverage and covered call, have the potential to amplify both gains and losses.<\/p>\n

The ETFs were listed on 5 July on the Toronto Stock Exchange.<\/p>\n

Timo Pfeiffer, Chief Markets Officer at Solactive<\/strong><\/span>, commented:<\/u> \u201cOur partnership with Horizons ETFs has been invaluable in the Canadian ETF market, which has always been a core focus for us. It has enabled us to assist them in offering Canadian investors the chance to allocate resources and access a sector that continues to grow steadily. We are delighted to collaborate with Horizons ETFs once again and eagerly anticipate future launches together.\u201d<\/em><\/p>\n

Rohit Mehta<\/u>,<\/u> <\/strong><\/span>President and CEO at Horizons ETFs Management (Canada) Inc<\/strong><\/span>, <\/u>said:<\/u> \u201c<\/em>With the launch of HBNK, BNKL and BKCL, we\u2019ve given Canadians big and bold opportunities to access Canada\u2019s Banks \u2013 one of the country\u2019s most stable and dividend-rich sectors \u2013 like never before. We look forward to continuing our partnership with Solactive and bringing more exciting and innovative ETFs to market for investors.<\/em>\u201d<\/em><\/p>\n

Source : ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"

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