Horizons ETFs Management (Canada) Inc. has launched the Horizons Cdn Select Universe Bond ETF (HBB). It provides low-cost and tax-efficient exposure to the Canadian investment-grade bond universe.
The ETF seeks to replicate the performance of the Solactive Canadian Select Universe Bond Index, net of expenses.
HBB will also be the first fixed-income ETF in Canada to use the total return swap structure, which can reduce the risk of tracking error.
HBB will begin trading today on the Toronto Stock Exchange.