Horizons ETFs is starting the Horizons Canadian Insider Index ETF.

It will use the amount of stock held by directors and senior management to select and confirm the performance potential of its stock holdings.

Read: Horizons CEO leaves

The ETF started trading today on the Toronto Stock Exchange under the ticker symbol “HII.”

The mandate of the ETF is to replicate, the performance of the INK Canadian Insider Index, net of expenses. That index is designed to provide exposure to the performance of 50 TSX-listed stocks, which amongst other things, demonstrate significant amounts of insider buying and ownership.

HII’s strategy puts an equal weighting on valuations, insider commitment and price momentum.

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