HXT continues to be lowest-cost ETF in Canada
Horizon ETFs Management says it is extending its 4-basis-point rebate on the annual management fees of its Horizons S&P/TSX 60 Index ETF (HXT).
With the effective annual management fee on HXT at 0.03%, plus applicable sales taxes, the firm claims the lowest-cost ETF in Canada. The 0.03% fee has been in place since January 2016 and will remain until at least September 2019.
"Recently, investors have witnessed a growing number of low-management fee ETFs on the market," said Steve Hawkins, President and CEO of Horizons ETFs. "Eight years ago, we launched HXT as Canada's lowest-cost ETF. We're proud of our role in pioneering a trend that provides better value for investors while maintaining HXT's status as the lowest-cost ETF in the country.”
The fund seeks to replicate the performance of the S&P/TSX 60 Index (Total Return), net of expenses, to the extent that is possible.
In August of 2018, HXT surpassed $2 billion in AUM, joining only 10 other ETFs in Canada to have previously achieved that mark.
"As a fund within our suite of TRI strategies, HXT's value is enhanced by its tax-deferral advantages. In fact, HXT has not paid a single taxable distribution to its end unitholders since its inception in 2010." said Hawkins.
