Horizons Global Semiconductor Index ETF

CHPS seeks to replicate, to the extent possible, the performance of the Solactive Capped Global Semiconductor Index (the Underlying Index, Bloomberg ticker: SOCGSEMN), net of expenses. The Underlying Index is designed to provide exposure to the performance of global, publicly listed companies engaged in the production and development of semiconductors and semiconductor equipment. To achieve its investment objective, CHPS invests and holds equity securities of the constituent issuers of the Underlying Index (the Constituent Issuers), in substantially the same proportion as its Underlying Index. CHPS may also invest in ADRs or GDRs representing equity securities of Constituent Issuers of its Underlying Index. To the extent permitted, the ETF will generally be fully invested in or exposed to its respective Underlying Index at all times.