BetaPro S&P/TSX 60 Daily Inverse ETF
HIX.TO
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- BetaPro S&P/TSX 60 Daily Inverse ETF (HIX.TO) is an exchange-traded fund managed by Global X Investments Canada Inc. that seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, corresponding to one times (100%) the inverse (opposite) of the daily performance of the S&P/TSX 60 Index. The ETF achieves its investment objective through forward agreements with one or more Canadian chartered bank counterparties or their affiliates, collateralized by high-quality short-term debt instruments or money market instruments; assets not allocated to forward agreements are held in interest-bearing accounts, Canadian federal or provincial treasury bills with terms not exceeding 365 days, or reverse repurchase agreements with terms not exceeding 30 days. Launched on March 5, 2009, and listed on the Toronto Stock Exchange, the ETF targets sophisticated investors employing short-term trading strategies and operates within the inverse leveraged ETF segment of the Canadian equity market, providing tactical exposure to the inverse performance of Canada's 60 largest stocks by market capitalization. Global X Investments Canada Inc., headquartered at 55 University Avenue, Suite 800, Toronto, Ontario M5J 2H7, serves as the manager following its rebranding from Horizons ETFs Management (Canada) Inc. on May 1, 2024; the firm, originally founded in 2005, is a wholly-owned subsidiary of Mirae Asset Global Investments. In recent developments, the ETF underwent a one-for-four share consolidation effective February 21, 2023, and its ticker symbol changed from HIX.TO to CNDI effective January 20, 2025, to better reflect its exposure; the manager announced forthcoming BetaPro ETF launches for 2025 amid surpassing $30 billion in assets under management across its suite of over 119 funds as of early 2024.