Horizons ETFs Management (Canada) Inc. is a

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

company that offers exchange-traded funds. In April 2017, Horizons began offering the first

cannabis industry The cannabis industry is composed of legal cultivators and producers, consumers, independent industrial standards bodies, ancillary products and services, regulators and researchers concerning cannabis and its industrial derivative, hemp. The can ...

focused

exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the ...

(ETF), Horizons Marijuana Life Sciences Index ETF. The company is also the fourth-largest ETF provider in Canada, with more than CAD$24 billion in assets as of April 2023.

History

Founded in 2005, Horizons ETFs was formerly known as BetaPro Management Inc., a subsidiary of Jovian Capital Corp, which traded in direct-commodities linked ETFs,

leveraged ETFs An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout the d ...

, and inverse ETFs. In January 2006, the company under the brand Horizons BetaPro began offering two funds which tracked the S&P and

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in t ...

(TSX): S&P/TSX 60 Bull Plus Fund and the S&P/TSX 60 Bear Plus Fund. In 2011, Jovian Capital sold BetaPro Management and its subsidiary AlphaPro Management to Mirae Asset Global Investments, based in

Seoul Seoul (; ; ), officially known as the Seoul Special City, is the capital and largest metropolis of South Korea.Before 1972, Seoul was the ''de jure'' capital of the Democratic People's Republic of Korea (North Korea) as stated iArticle 103 ...

, South Korea. In 2017, Horizons ETFs launched the Horizons Marijuana Life Sciences Index ETF (HMMJ), the first

marijuana Cannabis, also known as marijuana among other names, is a psychoactive drug from the cannabis plant. Native to Central or South Asia, the cannabis plant has been used as a drug for both recreational and entheogenic purposes and in various tra ...

-related exchange-traded fund, focused on a collection of publicly-traded companies in North America. HMMJ was listed on the Toronto Stock Exchange on April 5, 2017. By September 2018, HMMJ's assets reached CAD$1 billion. Despite significant losses at the end of September and the last two weeks of October, HMMJ returned a 60% gain in 2018. Horizons ETFs was also a sponsor of the

Toronto Raptors The Toronto Raptors are a Canadian professional basketball team based in Toronto. The Raptors compete in the National Basketball Association (NBA) as a member of the league's Eastern Conference Atlantic Division. They play their home games a ...

NBA team during its 2017–18 season. In August 2017, Scotiabank purchased the naming rights to the home arena of the

Toronto Maple Leafs The Toronto Maple Leafs (officially the Toronto Maple Leaf Hockey Club and often referred to as the Leafs) are a professional ice hockey team based in Toronto. They compete in the National Hockey League (NHL) as a member of the Atlantic Div ...

and Raptors and exercised a veto in its deal on competing institutions, ending Horizons' sponsorship of the Raptors before the

2018–19 NBA season The 2018–19 NBA season was the 73rd season of the National Basketball Association (NBA). The regular season began on October 16, 2018, and ended on April 10, 2019. The 2019 NBA All-Star Game was played on February 17, 2019, at the Spectrum Cen ...

. On February 14, 2018, Horizons began offering Horizons Junior Marijuana Growers Index ETF, traded as HMJR on the

NEO Exchange The NEO Exchange is a Canadian Tier 1 stock exchange for the innovation economy, bringing together investors and capital raisers. Fully operational since 2015, and acquired by Cboe Global Markets in 2022, NEO provides access to trading across al ...

. HMJR is

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to smaller marijuana companies involved in cultivation, production and distribution. On June 21, 2018, it also began trading Horizons Blockchain Technology & Hardware Index ETF. Horizons were also represented among the companies in the cannabis industry that gathered to ring the opening bell of the Toronto Stock Exchange on October 17, 2018, the day Canada legalized recreational use of marijuana. In November 2018, the firm began offering Horizons Active A.I. Global Equity ETF, which makes investment decisions governed by

artificial intelligence Artificial intelligence (AI) is intelligence—perceiving, synthesizing, and inferring information—demonstrated by machines, as opposed to intelligence displayed by animals and humans. Example tasks in which this is done include speech re ...

. In April 2019, Horizons ETFs launched the Horizons US Marijuana Index ETF, an index ETF focused on the U.S. cannabis marketplace. This was followed the next month with BetaPro Marijuana Companies 2x Daily Bull ETF and BetaPro Marijuana Companies Inverse ETF, respectively the first leveraged and the first inverse cannabis ETFs.

References

External links

* {{Official website, horizonsetfs.com Canadian companies established in 2005 Financial services companies of Canada Financial services companies established in 2005 Exchange-traded funds 2011 mergers and acquisitions Companies based in Toronto