Global X Active Canadian Dividend ETF
HAL.TO
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- Global X Active Canadian Dividend ETF (HAL:TSX) is an actively managed exchange-traded fund that seeks long-term total returns consisting of regular dividend income and capital growth by investing primarily in equity securities of North American companies with above-average dividend yields. The ETF, sub-advised by Guardian Capital LP, employs a proprietary investment process based on fundamental research, quantitative and technical factors to select companies with strong long-term prospects for increasing dividend payments; its portfolio is diversified across industry sectors including energy, financials and industrials, with up to 10% allocated to preferred and fixed-income securities such as government bonds, corporate bonds or treasury bills; HAL may also engage in securities lending and use derivatives including options, futures, forward contracts and swaps for hedging or efficient portfolio adjustment, while hedging non-CAD currency exposure at all times. Units trade on the Toronto Stock Exchange and target investors seeking dividend-focused exposure primarily to Canadian and U.S. equities. Launched on February 9, 2010 and managed by Global X Investments Canada Inc. (formerly Horizons ETFs Management (Canada) Inc.), headquartered at 55 University Avenue, Suite 800, Toronto, Ontario M5J 2H7, the ETF is part of a broader suite offered by Global X, a subsidiary of Mirae Asset Global Investments Co., Ltd., with over CAD 30 billion in assets under management in Canada. The manager oversees administrative services, portfolio compliance and unitholder communications, charging a management fee of 0.55% annually plus applicable taxes, resulting in a management expense ratio of approximately 0.69% as of June 30, 2024. In a significant recent development, effective May 1, 2024, the ETF and its manager completed a rebranding from Horizons Active Cdn Dividend ETF to align with the Global X Investments Canada Inc. name, reflecting integration into the global Global X platform backed by Mirae Asset's over $100 billion in worldwide ETF assets while maintaining unchanged operations, personnel and investment strategies. This rebrand followed Horizons ETFs' announcement in March 2024 and coincided with Global X launching 17 new ETFs in May 2024, including expansions in Equity Essentials and thematic products like AI-focused funds, alongside earlier 2024 innovations such as Canada's first 0-3 Month T-Bill ETFs. Portfolio adjustments during the first half of 2024 included adding positions in goeasy Ltd., Toromont Industries, Parkland Corp., Crescent Point Energy and Whitecap Resources, while exiting BCE, TELUS, Ovintiv and Gibson Energy to optimize for dividend growth amid high interest rates and sector rotations overweighting energy and industrials.