TORONTO,
Nov. 22, 2012 /CNW/ - Horizons
Exchange Traded Funds Inc. ("Horizons ETFs") and its
affiliate AlphaPro Management Inc. are pleased to announce the
monthly distribution amounts per unit (the "Distributions")
for certain of the Horizons ETFs family of exchange traded funds
(the "ETFs"), for the period ending November 30, 2012, as indicated in the table
below.
The ex-dividend date for the Distributions is
anticipated to be November 28, 2012
for all unitholders of record on November
30, 2012. The Distributions will be paid in cash or,
if the unitholder has enrolled in the respective ETF's dividend
reinvestment plan (DRIP), reinvested in additional units of the
applicable ETF, on or about December 12,
2012.
| ETF Name |
Ticker
Symbol |
Current
Month
Distribution
Rate |
NAV
Change
from Prior
Month(1) |
Current
Month
Yield(2) |
Prior
Month
Yield(3) |
Absolute
Change in
Yield from
Prior
Month(4) |
| Horizons Enhanced Income Equity ETF |
HEX |
$0.04901 |
-1.64% |
8.25% |
7.28% |
0.97% |
| Horizons Enhanced Income Equity
ETF |
HEX.A |
$0.04448 |
-1.70% |
7.46% |
6.49% |
0.97% |
| Horizons Enhanced Income Energy ETF |
HEE |
$0.04385 |
-5.74% |
8.40% |
7.30% |
1.10% |
| Horizons Enhanced Income Energy
ETF |
HEE.A |
$0.03996 |
-5.80% |
7.61% |
6.51% |
1.10% |
| Horizons Enhanced Income Gold Producers ETF |
HEP |
$0.05546 |
-5.75% |
10.99% |
7.08% |
3.91% |
| Horizons Enhanced Income Gold Producers ETF |
HEP.A |
$0.05123 |
-5.81% |
10.20% |
6.29% |
3.91% |
| Horizons Enhanced Income Financials ETF |
HEF |
$0.04907 |
1.52% |
7.32% |
7.04% |
0.28% |
| Horizons Enhanced Income
Financials ETF |
HEF.A |
$0.04397 |
1.46% |
6.54% |
6.26% |
0.28% |
| Horizons Enhanced Income
International Equity ETF |
HEJ |
$0.06126 |
-2.32% |
8.50% |
7.92% |
0.58% |
| Horizons Enhanced Income
International Equity ETF |
HEJ.A |
$0.05584 |
-2.38% |
7.75% |
7.17% |
0.58% |
| Horizons Enhanced Income US Equity
(USD) ETF (5) |
HEA.U |
$0.06822 |
-2.05% |
8.25% |
7.62% |
0.63% |
| Horizons Enhanced Income US Equity
(USD) ETF (5) |
HEA.V |
$0.06170 |
-2.11% |
7.46% |
6.83% |
0.63% |
| Horizons Enhanced US Equity Income
ETF |
HES |
$0.04779 |
-2.02% |
7.01% |
6.47% |
0.54% |
| Horizons Enhanced US Equity Income
ETF |
HES.A |
$0.04258 |
-2.09% |
6.25% |
5.69% |
0.56% |
| Horizons Gold Yield ETF |
HGY |
$0.05165 |
0.32% |
6.75% |
6.57% |
0.18% |
| Horizons Gold Yield ETF |
HGY.A |
$0.04513 |
0.25% |
5.90% |
5.72% |
0.18% |
| Horizons Silver Yield ETF |
HZY |
$0.03835 |
3.21% |
5.25% |
5.05% |
0.20% |
| Horizons Silver Yield ETF |
HZY.A |
$0.03214 |
3.14% |
4.40% |
4.20% |
0.20% |
| Horizons Crude Oil Yield ETF |
HOY |
$0.06012 |
-0.22% |
9.32% |
9.22% |
0.10% |
| Horizons Crude Oil Yield ETF |
HOY.A |
$0.05463 |
-0.29% |
8.47% |
8.37% |
0.10% |
| Horizons Natural Gas Yield ETF |
HNY |
$0.12176 |
2.84% |
14.65% |
14.80% |
-0.15% |
| Horizons Natural Gas Yield ETF |
HNY.A |
$0.11466 |
2.77% |
13.80% |
13.96% |
-0.16% |
(1) Based on the period October 22, 2012 to November 21, 2012, where the prior month's net
asset value per unit is adjusted to include the prior month's
distribution.
(2) Annualized and based on the applicable November 21, 2012 net asset value per unit which
is available at www.horizonsetfs.com.
(3) Annualized and based on the applicable October 22, 2012 net asset value per unit which
is available at www.horizonsetfs.com.
(4) The absolute change of the prior month's previously
announced annualized distribution yield to the current month's
annualized distribution yield.
(5) Distributions for Horizons Enhanced Income US Equity
(USD) ETF are declared and paid in U.S. dollars.
Each ETF makes Distributions to unitholders
based on the amount of call option premiums received during the
month, along with any dividend income received, less expenses
payable by the ETF. Call option premiums, and therefore the amounts
distributed, tend to reflect the prevailing implied volatilities,
either higher or lower. Should implied volatility levels increase
in the future from current levels, it would be expected that call
option premiums would generally, but not always, rise.
Distributions will vary from period to period.
The following commentary is provided in respect
of the November Distributions for the ETFs. Any discussion of
implied volatility below is based on the average implied volatility
of the nearest out-of-the-money call options on the underlying
portfolio securities of the respective ETFs.
HEX / HEX.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects the
increased call option premium that HEX was able to earn due to a
similar change in the implied volatility of the constituents in its
portfolio over this past month.
HEE / HEE.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects reduced
option buybacks as a result of a decline in equities in the energy
sector.
HEP / HEP.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects the
increased call option premium that HEP was able to earn due to a
general increase in the implied volatility of the constituents in
its portfolio over this past month and reduced option buybacks as a
result of a decline in equities in the gold producers sector.
HEF / HEF.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects the
increased call option premium that HEF was able to earn due to a
general increase in the implied volatility of the insurance company
constituents in its portfolio over this past month.
HEJ / HEJ.A
The increased distribution yield for the current month, when
compared to the prior month's distribution yield, reflects reduced
option buybacks as a result of a decline in international equities,
in general.
HEA.U/HEA.V/HES/ HES.A
The increase in the distribution yields of these ETFs for the
current month, when compared to the prior month's distribution
yields, reflects reduced option buybacks as a result of a decline
in US equities, in general.
HGY/ HGY.A
The relatively unchanged distribution yield for the current month,
when compared to the prior month's distribution yield, reflects the
little change in the implied volatility of gold bullion over this
past month.
HZY/ HZY.A
The relatively unchanged distribution yield for the current month,
when compared to the prior month's distribution yield, reflects the
little change in the implied volatility of silver bullion over this
past month.
HOY/ HOY.A
The relatively unchanged distribution yield for the current month,
when compared to the prior month's distribution yield, reflects the
little change in the implied volatility of crude oil over this past
month.
HNY/ HNY.A
The relatively unchanged distribution yield for the current month,
when compared to the prior month's distribution yield, reflects a
general decrease in the implied volatility of natural gas offset by
lower call option buyback costs over this past month.
For further information regarding the
Distributions please visit www.horizonsetfs.com
Certain statements may constitute a forward
looking statement, including those identified by the expression
"expect" and similar expressions (including grammatical variations
thereof) to the extent they relate to the ETFs. The forward-looking
statements are not historical facts but reflect the ETFs, the ETF's
managers or Horizons ETF's current expectations regarding future
results or events. These forward-looking statements are subject to
a number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations.
These and other factors should be considered carefully and readers
should not place undue reliance on the ETF's forward looking
statements. These forward-looking statements are made as of the
date hereof and the ETFs do not undertake to update any
forward-looking statement that is contained herein, whether as a
result of new information, future events or otherwise, unless
required by applicable law.
Commissions, trailing commissions, management
fees and expenses all may be associated with investments in the
ETFs. The ETFs are not guaranteed, their values change frequently
and past performance may not be repeated. Please read the
prospectus before investing.
About Horizons Exchange Traded Funds Inc.
(www.horizonsetfs.com)
Horizons ETFs is an innovative financial
services company offering the Horizons ETFs family of ETFs. The
Horizons ETFs family includes a broadly diversified range of
investment tools with solutions for investors of all experience
levels to meet their investment objectives in a variety of market
conditions. With approximately $3.5
billion in assets under management and 79 ETFs listed on the
Toronto Stock Exchange, the Horizons ETFs family makes up one of
the largest families of ETFs in Canada. Horizons ETFs is a subsidiary of
Horizons ETFs Management (Canada)
Inc. and a member of the Mirae Asset Financial Group.
SOURCE Horizons Exchange Traded Funds Inc.