TORONTO,
Feb. 20, 2013 /CNW/ - Horizons
Exchange Traded Funds Inc. ("Horizons ETFs") and its
affiliate AlphaPro Management Inc. are pleased to announce the
distribution amounts per unit (the "Distributions") for
certain of the Horizons ETFs family of exchange traded funds (the
"ETFs"), for the period ending February 28, 2013, as indicated in the table
below.
The ex-dividend date for the Distributions is
anticipated to be February 26, 2013
for all unitholders of record on February
28, 2013. 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 March 12,
2013.
| 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 |
$0.03499 |
-0.64% |
6.18% |
6.23% |
-0.05% |
| HEX.A |
$0.03063 |
-0.70% |
5.39% |
5.44% |
-0.05% |
| Horizons Enhanced Income Energy
ETF |
HEE |
$0.03463 |
0.31% |
7.07% |
7.05% |
0.02% |
| HEE.A |
$0.03097 |
0.25% |
6.29% |
6.26% |
0.03% |
| Horizons Enhanced Income Gold
Producers ETF |
HEP |
$0.03936 |
-11.75% |
10.09% |
8.63% |
1.46% |
| HEP.A |
$0.03610 |
-11.80% |
9.30% |
7.84% |
1.46% |
| Horizons Enhanced Income Financials
ETF |
HEF |
$0.03271 |
0.55% |
5.05% |
5.14% |
-0.09% |
| HEF.A |
$0.02772 |
0.49% |
4.27% |
4.35% |
-0.08% |
| Horizons Enhanced Income International
Equity ETF |
HEJ |
$0.04200 |
-1.38% |
6.05% |
6.11% |
-0.06% |
| HEJ.A |
$0.03652 |
-1.44% |
5.26% |
5.33% |
-0.07% |
| Horizons Enhanced Income US Equity
(USD) ETF (5) |
HEA.U |
$0.03797 |
1.95% |
4.68% |
5.07% |
-0.39% |
| HEA.V |
$0.03158 |
1.89% |
3.89% |
4.29% |
-0.40% |
| Horizons Enhanced US Equity Income
ETF |
HES |
$0.02667 |
1.97% |
3.98% |
4.31% |
-0.33% |
| HES.A |
$0.02137 |
1.90% |
3.19% |
3.52% |
-0.33% |
| Horizons Active S&P/TSX
60TM Index Covered Call ETF(6) |
HAX |
$0.03300 |
N/A |
2.65% |
N/A |
N/A |
| HAX.A |
$0.02318 |
N/A |
1.86% |
N/A |
N/A |
| Horizons Gold Yield ETF |
HGY |
$0.03916 |
-4.96% |
5.96% |
5.10% |
0.86% |
| HGY.A |
$0.03357 |
-5.02% |
5.12% |
4.25% |
0.87% |
| Horizons Silver Yield ETF |
HZY |
$0.03867 |
-8.01% |
6.45% |
6.10% |
0.35% |
| HZY.A |
$0.03357 |
-8.08% |
5.60% |
5.25% |
0.35% |
| Horizons Crude Oil Yield ETF |
HOY |
$0.03211 |
0.67% |
5.10% |
6.02% |
-0.92% |
| HOY.A |
$0.02676 |
0.61% |
4.25% |
5.17% |
-0.92% |
| Horizons Natural Gas Yield ETF |
HNY |
$0.13782 |
-4.93% |
21.02% |
15.13% |
5.89% |
| HNY.A |
$0.13221 |
-4.99% |
20.17% |
14.28% |
5.89% |
(1) Based on the period January 22, 2013 to February 19, 2013, 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 February 19, 2013 net asset value per unit which
is available at www.HorizonsETFs.com.
(3) Annualized and based on the applicable January 22, 2013 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.
(6) The Class E and Advisor Class Units of Horizons
Active S&P/TSX 60TM Index Covered Call ETF began
trading on January 15, 2013.
The distributions attributable to those units have been prorated
from their launch date.
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 with
respect to the February 2013
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 slight decrease in the distribution yield for the current
month, when compared to the prior month's distribution yield,
reflects greater option buyback costs in the financial sector over
the past month.
HEE / HEE.A
The distribution yield for the current month was relatively
unchanged when compared to that of the prior month. This reflects
very little change in the implied volatility in the energy sector
over the past month.
HEP / HEP.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects an
increase in the implied volatility of the equities in the gold
sector as well as lower option buyback costs over the past
month.
HEF / HEF.A
The decrease in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects greater
option buyback costs due to an increase in equity prices in the
financial sector over the past month.
HEJ / HEJ.A
The distribution yield for the current month was
relatively unchanged when compared to that of the prior month. This
reflects very little change in the implied volatility in
international equities over the past month.
HEA.U/HEA.V; HES/HES.A
The decrease in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects greater
option buyback costs as a result of an increase in US equities, as
well as lower implied volatilities.
HAX / HAX.A
This distribution yield reflects the dividend yield of the
underlying index, given that this ETF was launched within the past
month.
HGY / HGY.A
The increase in the distribution yield for the current month, when
compared to the prior month's yield, reflects lower option buyback
costs as a result of a decline in the price of gold bullion over
the past month.
HZY / HZY.A
The increase in the distribution yield, when compared to the prior
month's distribution yield, reflects lower option buyback costs as
a result of a decline in the price of silver bullion over the past
month.
HOY / HOY.A
The decrease in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects a
decrease in the implied volatility of crude oil to multi-year lows,
in addition to greater option buyback costs over the past
month.
HNY / HNY.A
The increase in the distribution yield for the current month, when
compared to the prior month's distribution yield, reflects lower
option buyback costs as a result of a decline in the price of
natural gas over the 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 $4.2
billion in assets under management and 76 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 ETFs Management (Canada) Inc.