Horizons ETFs Management has launched the Horizons BetaPro MSCI Japan Bull Plus ETF (HPU) and the Horizons BetaPro MSCI Japan Bear Plus ETF (HPD).
HPU and HPD will seek to provide Canadian investors with exposure to two times (200 per cent) the daily long and two times (200 per cent) the daily inverse performance, respectively, of the MSCI Japan Index, before fees and expenses.
The ETFs do not seek to achieve their stated investment objectives over a period of time greater than one day.
The MSCI Japan Index is a free-float adjusted market capitalisation weighted index that aims to track the equity market performance of Japanese securities listed on the Tokyo Stock Exchange, Osaka Stock Exchange, JASDAQ and Nagoya Stock Exchange, and that represents approximately 85 per cent of the free-float market capitalisation of Japanese equities.
"The MSCI Japan Index has risen more than 20 per cent over the past year," says Howard Atkinson, president of Horizons ETFs. "With the Japanese government stimulating its economy with its so-called 'Abenomics', named after the country's Prime Minister, Shinzō Abe, Japanese stocks have been attracting more attention from global investors."
HPU and HPD join a diverse family of Horizons BetaPro ETFs, which offer sophisticated investment strategies for experienced investors.
"Our corporate motto at Horizons ETFs is 'Investment Solutions for Every Investor'," says Atkinson. "We think HPU and HPD are great additions to our line-up of leveraged BetaPro ETFs, providing an opportunity to investors who have high conviction on the direction of Japanese stocks to potentially magnify positive or negative returns from the MSCI Japan Index."