HBP S&P/TSX 60 Index ETF

HXT-T

Analysis and Opinions about HXT-T

Signal
Opinion
Expert
PAST TOP PICK
PAST TOP PICK
August 20, 2019
(A Top Pick Oct 18/18, Up 9%) At the time they were feeling pretty good about Canada and they still are. Total return swap. Derivative contracts. The cheapest ETF in Canada at only 0.03% MER. Because of the uncertainty around its derivative structure its hard to say if its tax efficiency will cary forward in exactly the same way.
(A Top Pick Oct 18/18, Up 9%) At the time they were feeling pretty good about Canada and they still are. Total return swap. Derivative contracts. The cheapest ETF in Canada at only 0.03% MER. Because of the uncertainty around its derivative structure its hard to say if its tax efficiency will cary forward in exactly the same way.
Daniel Straus
Head of ETF Research & Strategy, National Bank Financial
Price
$35.480
Owned
No
COMMENT
COMMENT
January 2, 2019
An inverse ETF such as XIV-N might be leveraged -- and he will never touch leveraged funds. XIV-N was actually liquidated as investors lost 90% of their investment. He thinks HXT-T is non-leveraged. You can be on the right side of the market, yet still lose money on a leveraged fund. The leveraged funds are really for day traders only.
An inverse ETF such as XIV-N might be leveraged -- and he will never touch leveraged funds. XIV-N was actually liquidated as investors lost 90% of their investment. He thinks HXT-T is non-leveraged. You can be on the right side of the market, yet still lose money on a leveraged fund. The leveraged funds are really for day traders only.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$30.860
Owned
No
BUY
BUY
December 4, 2018
They do a complicated derivative swap, so what happens if there's a default? Yes, this is a swapped-based ETF, which means you don't get paid any dividend. It's a swap; complicated, but basically you get the same return as the index. Horizons has been doing this kind of ETF for a long time. He's comfortable with this ETF.
They do a complicated derivative swap, so what happens if there's a default? Yes, this is a swapped-based ETF, which means you don't get paid any dividend. It's a swap; complicated, but basically you get the same return as the index. Horizons has been doing this kind of ETF for a long time. He's comfortable with this ETF.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$32.480
Owned
Unknown
TOP PICK
TOP PICK
October 18, 2018

A play on the blue chip stocks. It is Canada's cheapest at 3 basis points. It is swap based so pays no dividends. Canada is one of the better priced markets in the world.

A play on the blue chip stocks. It is Canada's cheapest at 3 basis points. It is swap based so pays no dividends. Canada is one of the better priced markets in the world.

Daniel Straus
Head of ETF Research & Strategy, National Bank Financial
Price
$32.520
Owned
No
COMMENT
COMMENT
August 31, 2018

This is a great representation of the TSX60. It is swap based, so this will not lead to any taxable distributions and a low MER.

This is a great representation of the TSX60. It is swap based, so this will not lead to any taxable distributions and a low MER.

Mike Philbrick
President, ReSolve Asset Management
Price
$34.380
Owned
No
PAST TOP PICK
PAST TOP PICK
August 15, 2018

(Past Top Pick, Sept. 21, 2017, Up 11%) It's for people who don't want income/yield (and lead to a better tax position). This ETF is swap-based and adds a little more risk. But he isn't worried about it.

(Past Top Pick, Sept. 21, 2017, Up 11%) It's for people who don't want income/yield (and lead to a better tax position). This ETF is swap-based and adds a little more risk. But he isn't worried about it.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$34.160
Owned
Yes
PAST TOP PICK
PAST TOP PICK
June 13, 2018

(Past Top Pick, Sept.1, 2017, Up 11%) Covers the TSX, pays no dividends and charges a very low MER.

(Past Top Pick, Sept.1, 2017, Up 11%) Covers the TSX, pays no dividends and charges a very low MER.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$33.950
Owned
Yes
COMMENT
COMMENT
May 15, 2018

What's the difference if I use derivatives with HTX than not? Best to do this in taxable accounts, because you don't receive a dividend per se. With this, a counter-party guarantees that your ETF will generate that rate of return on the swap. The key is who is the counter-party which in this case is National Bank, which he's comfortable with. You don't get cash flow, but you get the exact rate of return on the Canadian equity market appreciation, plus dividend. It's a nice one-stop.

What's the difference if I use derivatives with HTX than not? Best to do this in taxable accounts, because you don't receive a dividend per se. With this, a counter-party guarantees that your ETF will generate that rate of return on the swap. The key is who is the counter-party which in this case is National Bank, which he's comfortable with. You don't get cash flow, but you get the exact rate of return on the Canadian equity market appreciation, plus dividend. It's a nice one-stop.

Terry Shaunessy
President & portfolio manager, Shaunessy Investment Counsel
Price
$33.710
Owned
Yes
HOLD
HOLD
February 9, 2018

They are a little different than most other ETFs. This is a swap-based ETF. Basically, a contract between Horizon and National Bank. These are total return ETFs so there is no distribution so very efficient for people making high income.

They are a little different than most other ETFs. This is a swap-based ETF. Basically, a contract between Horizon and National Bank. These are total return ETFs so there is no distribution so very efficient for people making high income.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$31.060
Owned
Yes
BUY
BUY
January 19, 2018

HXF-T or HXT-T? He likes both. This one is Toronto, while the other is US. They are basically swap vehicles, which is different from most ETF's where they actually hold the security. There is no distribution, so are for people who want to retain the distributions within the ETF. A great vehicle for someone who is still working and doesn't want the income.

HXF-T or HXT-T? He likes both. This one is Toronto, while the other is US. They are basically swap vehicles, which is different from most ETF's where they actually hold the security. There is no distribution, so are for people who want to retain the distributions within the ETF. A great vehicle for someone who is still working and doesn't want the income.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$33.810
Owned
Yes
BUY
BUY
January 15, 2018

HXS-T and HXT-T in a non-registered account. He likes this strategy based on a total return swap. You only pay capital gains tax. There is no distribution. If you believe the markets will go higher for a number of years these are great instruments. A buy and hold for many years.

HXS-T and HXT-T in a non-registered account. He likes this strategy based on a total return swap. You only pay capital gains tax. There is no distribution. If you believe the markets will go higher for a number of years these are great instruments. A buy and hold for many years.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$33.840
Owned
Unknown
TOP PICK
TOP PICK
September 1, 2017

This is extremely low cost. What is different about Horizons products is that they are a total return index. This is for someone who doesn’t want the income. There is no distribution, therefore there is no tax. It is all done with a SWAP. All you have to do is go onto Horizons website where there are a couple of really good concise explanations of what they are doing. 100% of it stays with their custodian and they do the SWAP thing, and their counter-parties are National Bank and CIBC.

This is extremely low cost. What is different about Horizons products is that they are a total return index. This is for someone who doesn’t want the income. There is no distribution, therefore there is no tax. It is all done with a SWAP. All you have to do is go onto Horizons website where there are a couple of really good concise explanations of what they are doing. 100% of it stays with their custodian and they do the SWAP thing, and their counter-parties are National Bank and CIBC.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$30.740
Owned
Yes
COMMENT
COMMENT
April 27, 2017

This is a derivative play, which has scared some people. It holds the dividend and builds it into the capital costs. If you are not looking for income, this is not bad. Another one you could consider is the iShares TSX 60 (XIU-T).

This is a derivative play, which has scared some people. It holds the dividend and builds it into the capital costs. If you are not looking for income, this is not bad. Another one you could consider is the iShares TSX 60 (XIU-T).

Mike S. Newton, CIM FCSI
Director & Portfolio Manager, Scotia Wealth Management
Price
$31.260
Owned
Unknown
COMMENT
COMMENT
March 29, 2017

It tracks the same index as the XIU-T. There is a major difference in terms of structure. HXT-T is structured around a total return swap. This allows them to run it very cheaply (3 basis points). It does not pay a dividend and accrues the yield to the NAV. It is tax efficient compared to XIU-T.

It tracks the same index as the XIU-T. There is a major difference in terms of structure. HXT-T is structured around a total return swap. This allows them to run it very cheaply (3 basis points). It does not pay a dividend and accrues the yield to the NAV. It is tax efficient compared to XIU-T.

Daniel Straus
Head of ETF Research & Strategy, National Bank Financial
Price
$31.480
Owned
Unknown
COMMENT
COMMENT
February 26, 2016

It uses forward contacts to replicate the return of the TSX 60. It tracks the TSX 60. He is not sure how the holdings’ dividends are treated for tax purposes.

It uses forward contacts to replicate the return of the TSX 60. It tracks the TSX 60. He is not sure how the holdings’ dividends are treated for tax purposes.

John DeGoey
Portfolio Manager, Wellington-Altus Private Wealth Inc.
Price
$24.820
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
May 29, 2015

(A Top Pick April 14/15. Down 2.35%.) Most markets peak on May 5, but the TSE Composite actually peaks on May 29. If you have invested in this, now would be a good time to consider making your move into more conservative investments, preferably cash, bonds, short-term notes, etc.

(A Top Pick April 14/15. Down 2.35%.) Most markets peak on May 5, but the TSE Composite actually peaks on May 29. If you have invested in this, now would be a good time to consider making your move into more conservative investments, preferably cash, bonds, short-term notes, etc.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$28.230
Owned
No
TOP PICK
TOP PICK
April 14, 2015

TSX 60 finally broke through a 7 year high, which is technically very, very good. This is in an upward trend, above its 20 day moving average and is outperforming the S&P 500. The problem is, once you get into May to October, volatility increases virtually every year, so you want to protect yourself by owning this until May and then look for some technical signals to take some profits.

TSX 60 finally broke through a 7 year high, which is technically very, very good. This is in an upward trend, above its 20 day moving average and is outperforming the S&P 500. The problem is, once you get into May to October, volatility increases virtually every year, so you want to protect yourself by owning this until May and then look for some technical signals to take some profits.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$28.870
Owned
No
PAST TOP PICK
PAST TOP PICK
January 19, 2015

(Top Pick Dec 31’14, Down 2.72%) It was a market call, but it didn’t work out. He had hoped to hold until the end of May.

(Top Pick Dec 31’14, Down 2.72%) It was a market call, but it didn’t work out. He had hoped to hold until the end of May.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$26.595
Owned
Yes
TOP PICK
TOP PICK
December 31, 2014

The best time to own Canadian stocks relative to US stocks is right around the middle of December through until the middle of March each year. This year in particular looks interesting, because we have seen the TSE Composite slightly outperform the S&P during the last couple of weeks. Of greater importance is the earnings reports coming out during the 4th quarter, where results from the major US companies are not going to be that great.

The best time to own Canadian stocks relative to US stocks is right around the middle of December through until the middle of March each year. This year in particular looks interesting, because we have seen the TSE Composite slightly outperform the S&P during the last couple of weeks. Of greater importance is the earnings reports coming out during the 4th quarter, where results from the major US companies are not going to be that great.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$27.250
Owned
Yes
PAST TOP PICK
PAST TOP PICK
December 4, 2013

(A Top Pick Nov 6/12. Up 11.86%.) Seasonal strength is from October to May of each year. Historically, the best time to own the Canadian market instead of the US market is from Dec 7 until March 7. Overnight, all of the commodities such as gold, oil, silver, copper are being bought by China. Canada is a commodity market. (See Top Picks.)

(A Top Pick Nov 6/12. Up 11.86%.) Seasonal strength is from October to May of each year. Historically, the best time to own the Canadian market instead of the US market is from Dec 7 until March 7. Overnight, all of the commodities such as gold, oil, silver, copper are being bought by China. Canada is a commodity market. (See Top Picks.)

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$23.670
Owned
No
TOP PICK
TOP PICK
December 4, 2013

One of the most actively traded ETFs in Canada. Basically, it tracks the market. You want to be in the Canadian market between December 7 and March 7 because that is the time when Canadian markets outperform the US markets. We are just about to enter that period of seasonal strength.

One of the most actively traded ETFs in Canada. Basically, it tracks the market. You want to be in the Canadian market between December 7 and March 7 because that is the time when Canadian markets outperform the US markets. We are just about to enter that period of seasonal strength.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$23.670
Owned
No
PAST TOP PICK
PAST TOP PICK
October 11, 2013

(A top pick Sept 28/12. Up 9.12%.) You want to own the Toronto market from late October through until May of each year.

(A top pick Sept 28/12. Up 9.12%.) You want to own the Toronto market from late October through until May of each year.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$22.830
Owned
No
TOP PICK
TOP PICK
January 4, 2013

You can buy either this or the iShares S&P/TSX 60 Index Fund (XIU-T). The TSX has been outperforming S&P 500 for the past couple of months. This is a broad market play and may outperform the US in the 1st half of 2013.

You can buy either this or the iShares S&P/TSX 60 Index Fund (XIU-T). The TSX has been outperforming S&P 500 for the past couple of months. This is a broad market play and may outperform the US in the 1st half of 2013.

Keith Richards
Portfolio Manager, ValueTrend Wealth Management
Price
$10.820
Owned
Yes
TOP PICK
TOP PICK
November 6, 2012

During the last 4 weeks, the Canadian market, for the 1st time in well over a year, has started to outperform the US market.

During the last 4 weeks, the Canadian market, for the 1st time in well over a year, has started to outperform the US market.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$10.580
Owned
Yes
TOP PICK
TOP PICK
September 28, 2012

(Do not purchase this top pick until around mid-October.) Historically the Canadian market has outperformed the US market from the middle of October to the 1st couple of weeks in January. In the last 4 weeks, the Canadian market has started to outperform the S&P 500.

(Do not purchase this top pick until around mid-October.) Historically the Canadian market has outperformed the US market from the middle of October to the 1st couple of weeks in January. In the last 4 weeks, the Canadian market has started to outperform the S&P 500.

Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$10.470
Owned
No
PAST TOP PICK
PAST TOP PICK
March 2, 2012
S&P/TSX 60 Index ETF. This one looks great. Just had a breakout of a gorgeous reverse head and shoulders pattern early this week. Tactic for a reverse head and shoulders is from the bottom of the pattern to the trend line and then the same amount up from the neck line. The target here would be around $11.80, hopefully by May.
S&P/TSX 60 Index ETF. This one looks great. Just had a breakout of a gorgeous reverse head and shoulders pattern early this week. Tactic for a reverse head and shoulders is from the bottom of the pattern to the trend line and then the same amount up from the neck line. The target here would be around $11.80, hopefully by May.
Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$10.530
Owned
Unknown
BUY
BUY
September 16, 2011
S&P/TSX 60 Index ETF compared to S&P/TSX 60 ETF (XIU-T)? Because it is a swap and a total return ETF, you are not going to be getting the distributions but you could possibly get a better return. Good product.
S&P/TSX 60 Index ETF compared to S&P/TSX 60 ETF (XIU-T)? Because it is a swap and a total return ETF, you are not going to be getting the distributions but you could possibly get a better return. Good product.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$10.100
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
September 2, 2011
(A Top Pick Dec 10/10. Down 3.63%.)
(A Top Pick Dec 10/10. Down 3.63%.)
Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$10.380
Owned
No
TOP PICK
TOP PICK
December 10, 2010
TSX 60 ETF. Things are going to be very good in Canada in 2011. This ETF is the lowest cost ETF in Canada. MRE is only .07%. You hold until May.
TSX 60 ETF. Things are going to be very good in Canada in 2011. This ETF is the lowest cost ETF in Canada. MRE is only .07%. You hold until May.
Don Vialoux
Research Analyst, TimingTheMarket.CA & EquityClock.COM
Price
$10.740
Owned
No
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