Horizons launches REIT and bank index ETFs

Toronto-based Horizons ETFs Management (Canada) Inc. has launched two index ETFs, the investment manager announced Wednesday.

Units of the Horizons Equal Weight Canada REIT Index ETF and the Horizons Equal Weight Canada Banks Index ETF began trading today on the Toronto Stock Exchange under the ticker symbols HCRE and HEWB, respectively.

The two ETFs join the Horizons Total Return Index ETF suite, (TRI ETFs) which now totals 14 ETFs. Horizons TRI ETFs use a “total return swap” investment structure, which aims to maximize tax efficiency.

“Since introducing our first TRI ETF in 2010, the Horizons TRI ETF suite has continued to grow, providing investors with tax-advantaged access to an increasing variety of important index strategies from around the world,” Steve Hawkins, president and CEO of Horizons ETFs, said in a statement. “The additions of HCRE and HEWB are made-in-Canada ETFs that provide access to two investing themes popular with Canadians: real estate and Canadian banks.”

HCRE seeks to replicate, to the extent possible, the performance of the Solactive Equal Weight Canada REIT Index (Total Return), net of expenses, while HEWB seeks to replicate  the performance of the Solactive Equal Weight Canada Banks Index (Total Return), net of expenses.

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