Toronto-based Horizons ETFs Management (Canada) Inc. has introduced new benchmark indices for 12 exchange-traded funds (ETFs) on its shelf.
The changes, which took effect Wednesday, mark a shift from using specified futures contracts as underlying benchmark indices to a series of specified indices from Germany-based Solactive AG.
For example, BetaPro Gold Bullion 2x Daily Bull ETF, which followed the COMEXgold futures contract for a subsequent delivery month, is now tied to the Solactive Gold Front Month MD Rolling Futures Index ER.
As a result, the firm says, the move will provide affected ETF investors with “identical exposure to the applicable asset class to which the ETF is currently exposed.”
A full list of the targeted ETFs and their corresponding benchmarks is available in the company’s news release.
No other changes will be triggered following this development.