As of February 11, 2019, Horizons Global Currency Opportunities ETF has gone out of business. Horizons Global Currency Opportunities ETF is an exchange traded fund launched and managed by Horizons ETFs Management (Canada) Inc. The fund is co-managed by CIBC Asset Management Inc. It invests in currency markets across the globe. The fund uses derivatives such as forward contracts to invest in currencies relative to the U.S. dollar. It employs absolute return strategy to create its portfolio. The fund employs fundamental analysis with a focus on factors such as country’s level of inflation, anticipated interest rate change, employment outlook, economic growth expectation, trade balance, government policy and central bank actions, interest rate and inflation differentials to create its portfolio. It benchmarks the performance of its portfolio against the Deutsche Bank Currency Return Index. The fund employs proprietary research to create its portfolio. Horizons Global Currency Opportunities ETF was formed on July 18, 2016 and is domiciled in Canada.