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Horizons ETFs Management (USA) LLC ("Horizons ETFs"), a member of the Horizons ETFs Group and a subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae Asset Korea”), is a registered investment adviser acting as either investment manager or sub-manager to the following Horizons-branded ETFs listed on the New York Stock Exchange (“NYSE”)
Covered Call ETFs
HSPX: NYSE - The Horizons S&P 500® Covered Call ETF seeks investment results that, before fees and expenses, generally correspond to the performance of the S&P 500® Stock Covered Call Index.
Exchange Traded Concepts, LLC ("ETC") lists the Horizons-branded covered call ETFs on the NYSE and serves as their manager. Foreside Fund Services, LLC facilitates distribution of the ETFs.
The Horizons ETFs Group
The Horizons ETFs Group consists of innovative financial services companies offering regional families of ETFs in Canada, Korea, Hong Kong, Australia, Colombia and the United States. Currently, all of the ETFs offered by these companies use the Horizons ETFs' brand with the exception of the 'BetaShares' family of ETFs in Australia and the 'Mirae Asset Tiger ETFs' family in Korea. With approximately US$11 billion in assets under management and 176 ETF listings worldwide (as at March 31, 2016), the Horizons ETFs Group makes up one of the largest collective families of ETFs in the world. All of the Horizons ETFs Group companies and affiliates are subsidiaries of Mirae Asset Global Investments Co., Ltd.
Mirae Asset Global Investments (www.miraeasset.com)
Mirae Asset Global Investments is one of the world's largest investment managers in emerging market equities (Investments & Pensions Europe, January 2013). With approximately 550 employees, including 126 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise. Mirae Asset's offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam. Headquartered in Seoul, South Korea, the firm manages $59 billion in assets globally (as at January 31, 2014) through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.
© 2017 Horizons ETFs Management (US) LLC. All rights reserved.
THE MORNINGSTAR RATING™ FOR FUNDS, OR "STAR RATING", IS CALCULATED FOR MANAGED PRODUCTS (INCLUDING MUTUAL FUNDS, VARIABLE ANNUITY AND VARIABLE LIFE SUBACCOUNTS, EXCHANGE-TRADED FUNDS, CLOSED-END FUNDS, AND SEPARATE ACCOUNTS) WITH AT LEAST A THREE-YEAR HISTORY. EXCHANGE-TRADED FUNDS AND OPEN-ENDED MUTUAL FUNDS ARE CONSIDERED A SINGLE POPULATION FOR COMPARATIVE PURPOSES. IT IS CALCULATED BASED ON A MORNINGSTAR RISK-ADJUSTED RETURN MEASURE THAT ACCOUNTS FOR VARIATION IN A MANAGED PRODUCT'S MONTHLY EXCESS PERFORMANCE, PLACING MORE EMPHASIS ON DOWNWARD VARIATIONS AND REWARDING CONSISTENT PERFORMANCE. THE TOP 10% OF PRODUCTS IN EACH PRODUCT CATEGORY RECEIVE 5 STARS, THE NEXT 22.5% RECEIVE 4 STARS, THE NEXT 35% RECEIVE 3 STARS, THE NEXT 22.5% RECEIVE 2 STARS, AND THE BOTTOM 10% RECEIVE 1 STAR. THE OVERALL MORNINGSTAR RATING FOR A MANAGED PRODUCT IS DERIVED FROM A WEIGHTED AVERAGE OF THE PERFORMANCE FIGURES ASSOCIATED WITH ITS THREE-, FIVE-, AND 10-YEAR (IF APPLICABLE) MORNINGSTAR RATING METRICS. THE WEIGHTS ARE: 100% THREE-YEAR RATING FOR 36-59 MONTHS OF TOTAL RETURNS, 60% FIVE-YEAR RATING/40% THREE-YEAR RATING FOR 60-119 MONTHS OF TOTAL RETURNS, AND 50% 10-YEAR RATING/30% FIVE-YEAR RATING/20% THREE-YEAR RATING FOR 120 OR MORE MONTHS OF TOTAL RETURNS. WHILE THE 10-YEAR OVERALL STAR RATING FORMULA SEEMS TO GIVE THE MOST WEIGHT TO THE 10-YEAR PERIOD, THE MOST RECENT THREE-YEAR PERIOD ACTUALLY HAS THE GREATEST IMPACT BECAUSE IT IS INCLUDED IN ALL THREE RATING PERIODS. PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND IS NO GUARANTEE OF FUTURE RESULTS.
INDIVIDUAL SHARES OF THE HORIZONS-BRANDED EXCHANGE TRADED FUNDS (THE "FUNDS") MAY BE PURCHASED OR SOLD IN THE SECONDARY MARKET THROUGHOUT THE REGULAR TRADING DAY ON THE NEW YORK STOCK EXCHANGE OR NASDAQ EXCHANGE THROUGH A BROKERAGE ACCOUNT. HOWEVER, SHARES ARE NOT INDIVIDUALLY REDEEMABLE DIRECTLY FROM THE FUNDS. EACH FUND ISSUES AND REDEEMS SHARES ON A CONTINUOUS BASIS, AT NAV, ONLY IN BLOCKS OF SHARES ("CREATION UNITS"), PRINCIPALLY IN-KIND FOR SECURITIES INCLUDED IN THE RELEVANT INDEX. THE CREATION UNITS FOR BMLA, DAX, QYLD, HSPX and USMR ARE 50,000 SHARES.
BEFORE INVESTING YOU SHOULD CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. THIS AND OTHER INFORMATION IS IN THE PROSPECTUS, A COPY OF WHICH MAY BE OBTAINED ON THIS WEBSITE. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE YOU INVEST. DISTRIBUTOR: FORESIDE FUND SERVICES, LLC.
THERE ARE RISKS INVOLVED WITH INVESTING, INCLUDING POSSIBLE LOSS OF PRINCIPAL. CONCENTRATION IN A PARTICULAR INDUSTRY OR SECTOR WILL SUBJECT THE FUNDS TO LOSS DUE TO ADVERSE OCCURRENCES THAT MAY AFFECT THAT INDUSTRY OR SECTOR. THE FUNDS RISK NOT BENEFITING FROM POTENTIAL INCREASES IN THE VALUE OF UNDERLYING SECURITIES ABOVE THE EXERCISE PRICES OF THE WRITTEN COVERED CALL OPTIONS, AND ARE SUBJECT TO THE RISK OF DECLINES IN THE VALUE OF SUCH SECURITIES. EACH SECTOR FUND IS SUBJECT TO ITS OWN SPECIFIC RISK FACTORS. SEE PROSPECTUS FOR SPECIFIC RISKS REGARDING FUND.
QYLD AND HSPX BOTH ENGAGE IN OPTIONS TRADING. AN OPTION IS A CONTRACT SOLD BY ONE PARTY TO ANOTHER THAT GIVES THE BUYER THE RIGHT, BUT NOT THE OBLIGATION, TO BUY (CALL) OR SELL (PUT) A STOCK AT AN AGREED UPON PRICE WITHIN A CERTAIN PERIOD OR ON A SPECIFIC DATE. A COVERED CALL OPTION INVOLVES HOLDING A LONG POSITION IN A PARTICULAR ASSET, IN THIS CASE U.S. COMMON EQUITIES, AND WRITING A CALL OPTION ON THAT SAME ASSET WITH THE GOAL OF REALIZING ADDITIONAL INCOME FROM THE OPTION PREMIUM.
HORIZONS ETFS MANAGEMENT (US) LLC IS THE INVESTMENT ADVISER OF THE HSPX, BMLA, DAX, QYLD and DAX. THE FUNDS ARE DISTRIBUTED BY FORESIDE FUND SERVICES, LLC, WHICH IS NOT AFFILIATED WITH HORIZONS ETFS MANAGEMENT (US) LLC OR ANY OF ITS AFFILIATES.
INDEX RETURNS ARE FOR ILLUSTRATIVE PURPOSES ONLY. INVESTORS CANNOT DIRECTLY INVEST IN AN INDEX AND UNMANAGED INDEX RETURNS DO NOT REFLECT ANY MANAGEMENT FEES, TRANSACTION COSTS OR EXPENSES. IN ADDITION, THE RESULTS ACTUAL INVESTORS MIGHT HAVE ACHIEVED WOULD HAVE DIFFERED FROM THOSE SHOWN BECAUSE OF DIFFERENCES IN THE TIMING, AMOUNTS OF THEIR INVESTMENTS, AND FEES AND EXPENSES ASSOCIATED WITH INVESTMENTS IN THE FUND. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS. INVESTORS IN THE FUND SHOULD BE WILLING TO ACCEPT A HIGH DEGREE OF VOLATILITY IN THE PRICE OF THE FUND’S SHARES AND THE POSSIBILITY OF SIGNIFICANT LOSSES. AN INVESTMENT IN THE FUND INVOLVES A SUBSTANTIAL DEGREE OF RISK. INTERNATIONAL INVESTING INVOLVES RISKS, INCLUDING RISKS RELATED TO FOREIGN CURRENCY, LIMITED LIQUIDITY, LESS GOVERNMENT REGULATION AND THE POSSIBILITY OF SUBSTANTIAL VOLATILITY DUE TO ADVERSE POLITICAL, ECONOMIC OR OTHER DEVELOPMENTS. THESE RISKS OFTEN ARE HEIGHTENED FOR INVESTMENTS IN EMERGING/ DEVELOPING MARKETS OR IN CONCENTRATIONS OF SINGLE COUNTRIES. DIVERSIFICATION MAY NOT PROTECT AGAINST MARKET RISK OR LOSS OF PRINCIPAL. BROKERAGE COMMISSIONS WILL REDUCE RETURNS. BMLA, DAX, QYLD AND USMR ARE CONSIDERED NON-DIVERSIFIED AND MAY BE SUBJECT TO GREATER RISKS THAN A DIVERSIFIED FUND.
INVESTING IN USMR INVOLVES RISK, INCLUDING POSSIBLE LOSS OF PRINCIPAL. THE FUND SEEKS TO TRACK THE UNDERLYING INDEX, WHICH ITSELF MAY HAVE CONCENTRATION IN CERTAIN REGIONS, ECONOMIES, COUNTRIES, MARKETS, INDUSTRIES OR SECTORS. THE FUND MAY BE SUSCEPTIBLE TO AN INCREASED RISK OR LOSS, INCLUDING LOSSES DUE TO ADVERSE EVENTS THAT AFFECT THE FUND’S INVESTMENTS MORE THAN THE MARKET AS A WHOLE, TO THE EXTENT THAT THE FUND’S INVESTMENTS ARE CONCENTRATED IN THE SECURITIES OF A PARTICULAR ISSUER OR ISSUERS, COUNTRY, GROUP OF COUNTRIES, REGION, MARKET, INDUSTRY, GROUP OF INDUSTRIES, SECTOR, OR ASSET CLASS.
General Information and User Guidelines
Please read the following carefully. Horizons ETFs Management (USA) LLC (“Horizons USA”) is an investment adviser with the U.S. Securities and Exchange Commission (“SEC”). Information (“Horizons Content”) contained on social media pages (“Horizons Pages”) is provided by Horizons USA and is strictly for informational purposes only. Nothing herein shall constitute and should not be considered as any investment advice, recommendation, invitation, offer or solicitation to buy, sell or subscribe to any securities or related financial instruments, or investment products or services, to any person in any jurisdiction, or a representation that any investment strategy is suitable or appropriate for an investor’s individual circumstances. Please seek independent professional advice if you have any question to the information contained on our social media pages. Click here to read more.