Horizons launches currency-tracking ETF

Toronto-based Horizons ETFs Management (Canada) Inc. has launched an exchange-traded fund (ETF) for investors looking for exposure to the Canadian dollar (C$). Horizons Canadian Dollar Currency ETF provides unitholders with long exposure to the C$ relative to the U.S. dollar (US$). For example, when the C$ appreciates relative to the US$ in terms of the exchange rate, the value of the new ETF is expected to appreciate too. Management fees for common units of the ETF are 0.45%.

(fcollie@investmentexecutive.com)