Horizons ETFs’ robotics and artificial intelligence (AI) ETF – the Horizons Robotics and Automation Index ETF – is to have a new investment objective and ticker symbol, as well as a lower management fee.
The ETF’s new investment objective will be to seek to replicate, to the extent possible, the performance of the Indxx Global Robotics & Artificial Intelligence Thematic Index, net of expenses. The ETF continues to trade on the Toronto Stock Exchange (TSX), but under new ticker symbols – RBOT (in Canadian dollars) and RBOT.U (in US dollars). In addition, the ETF’s management fee will be 0.68 per cent (plus applicable taxes), reduced from 0.75 per cent.
Previously, the ETF’s investment objective was to seek to replicate, to the extent possible, the performance of the ROBO Global® Robotics and Automation Index, net of expenses. The ETF previously traded on the TSX under the ticker symbols ROBO and ROBO.U.
The change in investment objective was approved by unitholders last month, and communicated via a press release dated 14 June 2018.