Horizons ETFs Management (Canada) Inc - BetaPro S&P 500 VIX Short-Term Futures Daily Inverse ETF Class A BTTPF

horizon betapro HVI.TO (???)

[smartfinish]

after i called and 3 or more time
and got insulted by the receptionist i finaly got this answer regarding today's nonsense return on this risky investment that i got on the right and did not give any return...
furthure more i could not trade before 9:40 am this morning

very disturbing reply that make no sense and is false ...

Good afternoon,

 

Thanks for reaching out, and I sincerely apologize for the delayed response.

 

The disconnect you are seeing between HVI and the Short Term VIX index are a result of the different trading hours.  Our ETF trades on the TSX until 4pm, however the VIX futures that make up the ST Index trade until 4:15pm.   Yesterday, on the heels of the extreme market moves, the ST VIX Index actually spiked over 9% between 4 and 4:15 from 558.42 to 612.82. This in theory (had our ETF been trading) would have lost HVI value of that 9%.  However, because the ETF wasn’t trading, it didn’t feel the extreme loss that would have occurred and was calculated on index level of 558.42.   While writing this, the index is approximately 554.90 and the ETF price around 10.96 which puts it within a few pennies of where we would expect it.

 

Hope this helps,

 

 

Duran Guest 

Business Development Manager

Horizons ETFs Management (Canada) Inc.

26 Wellington St. E., Suite 700

Toronto, ON M5E 1S2

E: [e-mail]

Toll Free: 855-561-3713

P: 416.601.2497

F: 416.777.5181

[Nakate]

that does not explain the 16% discrepancy in the intraday trading values between hvu and hvi. At one point it was 19% down hvu and 2.7% up for hvi.  I wrote them a email and asked them to explain that glitch but as you have pointed out they don't respond very well. Probably got deleted on arrival.

[adaptable]

smarfinish I totally agree with you, horizon's explanation is disturbing and wrong and HVI did not follow hvu like normal throughout the day.