BetaPro Management Inc. yesterday announced the launch of the Horizons BetaPro ETFs. The new investment products are the first exchange-traded funds in Canada to offer inverse and magnified exposure to the S&P/TSX 60 index.

Horizons BetaPro S&P/TSX 60 Bull Plus ETF (TSX:HXU) seeks daily investment results, before fees and other expenses, that endeavour to correspond to 200% of the daily performance of the S&P/TSX 60 index, while Horizons BetaPro S&P/TSX 60 Bear Plus ETF (TSX:HXD) seeks daily investment returns, before fees and other expenses, that endeavour to correspond to two times 200% of the inverse of the daily performance of the S&P/TSX 60 Index.

Both HXU and HXD will be listed on the TSX as of January 9.

“HXU and HXD are the next evolution in Canadian exchange-traded funds, allowing investors to profit or protect in bull and bear markets,” said Howard Atkinson, president of Horizons BetaPro ETFs division, in a news release.

BetaPro has retained National Bank Financial to be the sole designated broker for HXU and HXD.

The Portfolio Manager, ProShare Advisors LLC, is part of ProFunds Group, which includes ProFund Advisors LLC, manager of the group’s mutual funds . ProFunds offers the largest number of indexed based mutual funds in the United States, with approximately $10 billion in assets in over 100 U.S. mutual funds. In June 2006, ProShare Advisors LLC introduced the first U.S. exchange traded funds which provide inverse and magnified exposure to market indexes using strategies similar to those of the Horizons BetaPro ETFs.

BetaPro Management Inc. is a member of the Jovian group of companies.