BetaPro Management Inc. has further expanded its collection of commodity-based exchange-traded funds with the launch of two new silver ETFs on Tuesday.

The subsidiary of Jovian Capital Corp. has introduced the Horizons BetaPro COMEX Silver Bull Plus ETF (HZU) and the Horizons BetaPro COMEX Silver Bear Plus ETF (HZD), both listed on the Toronto Stock Exchange.

The launch comes just days after the company launched four single commodity-based ETFs. The new silver funds add to the company’s existing offering of Bull and Bear Plus ETFs based on such underlying commodities as oil, natural gas, gold and agricultural grains.

“Given the immense interest in commodities, advisors and investors are seeking new ways to diversify their portfolios,” said Howard Atkinson, president of BetaPro. “Our new Bull and Bear COMEX Silver Plus ETFs offer investors a new opportunity to access +/-200% of the daily performance of the silver futures contract market in a cost-effective manner.”

The Silver Bull Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to 200% of the daily performance of the COMEX silver futures contract for a subsequent delivery month.

In contrast, the Silver Bear Plus ETF seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that correspond to 200% of the inverse of the daily performance of the COMEX silver futures contract for a subsequent delivery month.

Both ETFs are denominated in Canadian dollars and hedge against any U.S. dollar gains or losses.

IE