RE: I called Horizon, here is how this ETF works The index is down to 44% of where it was 18 months ago. ABX is 37% - the index is out performing ABX. ABX is the largest component.
It is important to understand HGU only tracks the index movement short term, the rebalancing daily and management fees erode value (over the same period as above hgu is at 17%!). Despite this I consider it an excellent way to trade a volatile group of stocks that exhibit strong trends, just don’t expect to buy and hold.
Most days hgu will track closely, Friday was before the share consolidation so people did not want to hold overnight and at one point it was 1.3% undervalued as there was a huge block just thrown at the market in the late afternoon. It ended the day at 0.28% undervalued – i.e. one penny.
https://www.horizonsetfs.com/pub/en/ETFs.aspx
(look under leveraged for hgu)
https://www.horizonsetfs.com/pub/en/etfs/?etf=HGU&tab=overview