Horizons launches ETF

Toronto-based Horizons ETFs Management (Canada) Inc. has launched a new dividend-focused, exchange-traded fund (ETF). Horizons Cdn. High Dividend Index ETF follows the Solactive Canadian high dividend yield index (total return), net of expenses. The index tracks 40 of the largest dividend-yielding companies on the Toronto Stock Exchange with a minimum market capitalization of $4 billion. According to Horizons Canada, the new ETF is the lowest-cost dividend ETF in Canada: the management fee is 0.1% for common shares. This ETF is part of Horizons’ suite of total return index ETFs, which includes Horizons S&P/TSX 60 Index ETF and Horizons S&P 500 ETF. For full details on the new fund, visit www.horizonsetfs.com.

(fcollie@investmentexecutive.com).