usiness graph with arrow showing profits and gains

Horizons ETFs Management Inc. has added a third portfolio ETF to its one-ticket-solution ETFs lineup.

Units of the Horizons Growth TRI ETF Portfolio began trading Monday on the Toronto Stock Exchange. The latest “ETF of ETFs” portfolio invests in a growth portfolio consisting primarily of Horizons’ Total Return Index (TRI) suite of ETFs, the firm said in a release. It seeks long-term capital growth, targeting an asset allocation of 99% equity securities, at least 15% of which will be exposed to Canada.

The fund has no direct management fee, but it will indirectly pay the management fees and trading expenses of the TRI ETFs it holds, the release said. The total management expense ratio is expected to be 0.17% and will not exceed 0.19% at any rebalance. The trading expense ratio is expected to be 0.28%.

The portfolio ETF joins the Horizons Conservative TRI ETF Portfolio and the Horizons Balanced ETF Portfolio, which launched in 2018.