- Business
- Global X Seasonal Rotation ETF (HAC.TO) is an actively managed exchange-traded fund that employs a proprietary seasonal rotation strategy to seek long-term capital appreciation across all market cycles by tactically allocating exposure among equities, fixed income, commodities, and currencies based on historical seasonal trends in the United States and Canada regions. The fund invests through other funds in diversified public equities across growth and value stocks of various market capitalizations, debt securities for fixed income, commodities, and currencies, utilizing a long/short approach with potential holdings in cash equivalents; key recent portfolio allocations as of November 2025 include SPDR DJIA Trust, Industrial Select Sector SPDR, Global X Equal Weight Canadian Banks Index ETF, and SPDR Gold Shares, targeting sectors such as industrials, financials, health care, and materials. It benchmarks performance against the S&P 500 Index and features a management fee of 0.75%, a management expense ratio of 1.11%, and a performance fee of 20% on outperformance above a 5% annualized high-water mark hurdle.
Launched on November 19, 2009, and listed on the Toronto Stock Exchange, the ETF is managed by Global X Investments Canada Inc., formerly known as Horizons ETFs Management (Canada) Inc., which rebranded to align with its parent Mirae Asset Global Investments in May 2024, including renaming the fund from Horizons Seasonal Rotation ETF to its current Global X designation. Headquartered in Toronto, Canada, Global X Investments Canada Inc. operates as one of the country's leading ETF providers with over CAD$30 billion in assets under management as of early 2025, offering a broad suite of innovative exchange-traded funds eligible for all registered and non-registered accounts. The firm focuses on Canadian and U.S. investors, providing products with historically low correlation to broad equity markets through active management.
In recent developments, the ETF maintained its active tactical rotations, including trimming gold exposure in October 2025 ahead of the "Halloween effect" and positioning for November opportunities, while delivering year-to-date returns of 5.95% and since-inception annualized returns of 7.78% as of November 30, 2025; its most recent annual distribution was $0.31760 per unit paid in January 2024. Amid the parent's rebranding, Horizons ETFs updated fund names and CUSIPs in April 2024 to reflect Global X branding, supporting strategic growth goals such as doubling assets under management. No major acquisitions, funding rounds, or new product launches specific to HAC.TO were reported in the last 1-2 years, with ongoing emphasis on seasonal portfolio adjustments for superior risk-adjusted returns.