Horizons lowers management fee for A.I. ETF

Horizons ETFs announced on Tuesday it will be lowering the management fee for its A.I. ETF, called the Horizons Robotics and Automation Index ETF.

As of July 4, the new management fee will drop to 0.68% from 0.75%, said the company in a release.

The ETF also has a new investment objective to replicate the performance of the Indxx Global Robotics & Artificial Intelligence Thematic Index, says the release. Previously, the fund sought to replicate, to the extent possible, the performance of the ROBO Global Robotics and Automation Index, net of expenses.

“[The fund’s] underlying index is designed to provide exposure to the performance of equity securities of companies that are involved in the development of robotics and/or artificial intelligence,” the release adds.

The ETF will trade on the TSX under the new ticker symbols, RBOT (in Canadian dollars) and RBOT.U (in U.S. dollars).

Read:

Horizons launches blockchain ETF

Explore clients’ investment ideas and be ready to back up yours

Horizons ETFs building out marijuana-focused ETF lineup

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.