BetaPro Canadian Gold Miners 2x Daily Bull ETF T.HGU

Alternate Symbol(s): HZNSF

HGU seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to two times (200%) the daily performance of the Solactive Canadian Gold Miners Index. If HGU is successful in meeting its investment objective, its net asset value should gain approximately twice as much on a given day, on a percentage basis, as the Solactive Canadian Gold Miners Index when this Underlying Index rises on that given day. Conversely, HGUs net asset value should lose approximately twice as much on a given day, on a percentage basis, as the Solactive Canadian Gold Miners Index when this Underlying Index declines on that given day. In order to achieve this objective, the total underlying notional value of these instruments and/or securities will typically not exceed two times the total assets of the ETF. As such, HGU employs leverage.

TSX:HGU - Post by User

BetaPro Canadian Gold Miners 2x Daily Bull ETF

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Post by smilleyon Oct 03, 2008 8:10pm

464 Views

Post# 15504152

BetaPro Rip-Off Scam

OK, I'm mad as hell and I'm not going to take it anymore. HGU is supposed to approximate two times the change in the S&P/TSX Global Gold Index. The index was up 9.36 points or 4.13% from yesterdays close. Therefore, HGU should have been up about 8% from yesterdays close. Instead, it closed down $0 .75 or 6.5%. It should have been up about $0.90 (8%) to $12.40 instead of $ 10.75. Thats a difference of 14% from yesterdays close to today

Now, don't get me wrong. If I lose my money fairly and squarely, I don't complain. But this is just plain wrong. I e-mailed BetaPro looking for answers a couple of hours before the close and got no response. God knows I took a bath on HGU Thursday and lived with the results, but today is just wrong.

Does anyone know what the best course of action should be? Should we just ditch HGU, take our lumps, lick our wounds and go away? Am I missing something here?

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