Toronto-based Horizons ETFs Management (Canada) Inc. on Wednesday announced the launch of the Horizons NASDAQ-100 Index ETF (HXQ), which will provide investors with low-cost, tax-efficient exposure to 100 of the largest U.S. and international non-financial companies listed on the NASDAQ Stock Market.
Units of the exchange traded fund (ETF) trade on the Toronto Stock Exchange (TSX) in both Canadian and U.S. dollars under the ticker symbols HXQ and HXQ.U.
The new ETF seeks to replicate, to the extent possible, the performance of the NASDAQ-100 index (total return), net of expenses.
“The NASDAQ-100 is an investor’s main index for exposure to some of the world’s largest and most well-known brand names, like Apple, Facebook, Google and Microsoft,” says Steve Hawkins, co-CEO, Horizons ETFs, in a statement.
HXQ has closed its initial offering of units and began begin trading today on the TSX.