Oakville, Ont.-based Harvest Portfolios Group Inc. has launched a new ETF focused on sports and entertainment.
The Harvest Sports & Entertainment Index ETF (ticker HSPN) is designed to replicate the Solactive Sports & Entertainment Index as well as provide Canadian investors access to the growing sports and entertainment industry.
The fund invests primarily in securities tied to the development of products and services related to sports and entertainment industries, including iGambling, eGaming, sports equipment and apparel, event bookings, and entertainment and professional sports listed in North America and select developed markets.
Class A and Class U units of the ETF began trading on the TSX on Friday. It will be managed by the firm and its management fee is 0.50% of the fund’s value.
“HSPN will encapsulate the fast growth of the eGaming and iGambling industries, combined with the steady growth of sports teams, merchandising, ticketing and apparel,” said Michael Kovacs, president and CEO of Harvest, in a release, adding that people’s excitement over sports events is palpable as “entry gates open around the world again.”