Horizons ETFs Management has launched the Horizons Robotics and Automation Index ETF, the first exchange traded fund in Canada to offer global exposure to the rapidly growing robotics and automation industry.
Units of the ETF are now trading on the Toronto Stock Exchange (TSX) under the ticker symbol ROBO.
Horizons ROBO seeks to replicate the performance of the ROBO Global® Robotics and Automation Index. The Index is designed to provide exposure to the performance of equity securities of robotics-related and/or automation-related companies. Horizons ROBO will be mainly invested in the equity securities of issuers within the Index and will seek to hedge its U.S. currency exposure to the Canadian dollar at all times.
Comprising more than 80 stocks focused on the entire robotics and automation industry, the Index includes securities from rapidly developing companies around the world – listings can be found on exchanges in 14 different countries, across 12 sub-sectors. As a rules-based Index, it employs specific investment criteria focused on companies that derive a portion of revenues and profits from robotics-related and/or automation-related products and/or services.
“We could be witnessing the most transformative technological change of our lifetime as robotics and automation start to become integral to much of what we do on a daily basis,” says Steve Hawkins, President and Co-CEO of Horizons ETFs. “Despite the quick ascendency of the Robotics, Automation and Artificial Intelligence sectors, it’s still in its very early days. This could be the largest untapped investment opportunity for Canadian investors, particularly since very few likely own these stocks in their equity portfolios.”
“We’re excited to partner with Horizons ETFs to potentially enhance the portfolios of Canadian investors, by giving them an easier way to access the sector of Robotics, Automation and Artificial Intelligence,” says Travis Biggs, CEO of ROBO Global, US “We feel Horizons ETFs is an excellent partner, based on their success in bringing innovative ETF solutions to Canadians.”