Horizons S&P/TSX Capped Composite Index ETF

Horizons HXCN seeks to replicate, to the extent possible, the performance of the S&P/TSX Capped Composite Index (Total Return), net of expenses In order to achieve its investment objective and obtain direct or indirect exposure to securities of the Underlying Indexs constituent issuers, the ETF may invest in and hold the securities of constituent issuers in substantially the same proportion as they are reflected in the Underlying Index, or may invest in and hold index participation units of exchange traded funds or other derivatives, including but not limited to swap agreements (see Swap Agreements below), futures contracts, options on futures contracts, forward contracts, options on securities and indices, reverse repurchase agreements or a combination of the foregoing, that are based on the Underlying Index, provided that the use of such derivative instruments is in compliance with National Instrument 81-102 (NI 81-102) and is consistent with the investment objective of the…