Horizons launches 2 low-fee sector ETFs

Horizons ETFs Management (Canada) Inc. has launched two ETFs that will provide investors with the lowest-cost exposure to the financials and energy sectors of the Canadian stock market.

Read: How to weight REIT ETFs

The Horizons S&P/TSX Capped Financials Index ETF (“HXF”) and the Horizons S&P/TSX Capped Energy Index ETF (“HXE”) will begin trading on the TSX today under the following ticker symbols:

* plus applicable sales taxes

Both HXF and HXE have a management fee almost 40% less expensive than the next lowest-cost ETF tracking the same index.

Read: Getting tax back with ETFs In other news, Horizons ETFs has extended HXT’s fee rebate of 2 basis points for another year, continuing the annual management fee investors pay on HXT at 5 basis points.

Launched in September 2010, HXT seeks to replicate the performance of the S&P/TSX 60 Index (Total Return), net of fees and expenses.

Read: The benefits of ETF fee transparency “Since we announced the fee rebate in September 2012, we’ve seen more than $600 million of net inflows into HXT, primarily from institutional investors, making HXT one of the fastest growing ETFs in Canada,” says Howard Atkinson, President of Horizons ETFs.

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