Three new Horizons BetaPro Inverse Exchange Traded Funds are now trading the Toronto Stock Exchange, BetaPro Management Inc. said Thursday.

The HBP Inverse ETFs are expected to track the opposite (100%) of the daily performance of their underlying benchmarks, less applicable fees and expenses. These ETFs do not involve leverage.

“Our HBP Inverse ETFs now total seven and provide a complement to our popular leveraged HBP Bull+ and Bear+ ETFs,” said Howard Atkinson, president of BetaPro. “These ETFs are extremely valuable tools for bearish investors to profit from a market decline or hedge existing portfolio exposure.”

The new HBP Inverse ETFs and their ticker symbols are:

• Horizons BetaPro S&P 500 Inverse ETF – HIU;
• Horizons BetaPro Nymex Crude Oil Inverse ETF – HIO; and
• Horizons BetaPro Nymex Natural Gas Inverse ETF — HIN

Each HBP Inverse ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to one times (100%) the inverse (opposite) of the daily performance of its specified underlying index.

The HBP S&P 500 Inverse ETF will use the S&P 500 as its underlying index. The HBP Nymex Crude Oil Inverse ETF will use the Nymex light sweet crude oil futures contract for the next delivery month, and the HBP Nymex Natural Gas Inverse ETF will use the Nymex natural gas futures contract for the next delivery month, as their respective underlying indices.

The HBP Inverse ETFs are denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of the ETF’s investment will be hedged back to the Canadian dollar to the best of its ability, BetaPro says.

IE