Horizons ETFs has launched a pair of tactical ETFs providing leveraged and inverse leveraged exposure to the Canadian banking industry.

Steve Hawkins, President and CEO of Horizons ETFs.

The Horizons BetaPro Equal Weight Canadian Bank 2x Daily Bull ETF (HBKU CN) and the Horizons BetaPro Equal Weight Canadian Bank -2x Daily Bear ETF (HBKD CN) have been listed on the Toronto Stock Exchange (TSX).

Each fund comes with a management fee of 1.15%.

HBKU and HBKD provide 200% and -200%, respectively, of the daily return of the Solactive Equal Weight Canada Banks Index.

The index consists of an equally weighted portfolio of Canada’s “Big Six” banks: Royal Bank of Canada, Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal, Canadian Imperial Bank of Commerce, and National Bank of Canada.

Steve Hawkins, President and CEO of Horizons ETFs, said: “Within the TSX’s top 60 companies, Canada’s Big Six banks make up nearly a quarter of the total market capitalization, underscoring their relative importance to the Canadian equity market and the economy at large.

“Whether you are bullish or bearish on a variety of sectors, broad indices, or commodities, our suite of leveraged and inverse leveraged ETFs can provide a potential high-conviction, short-term trade. Now, with HBKU and HBKD, we are giving Canadian investors the ability to invest those views on either the long or short side of the Canadian banking sector without taking on the high costs of using margin, or borrowing and shorting directly.”