Horizons Enhanced Income Gold ETF

HEP-T

Analysis and Opinions about HEP-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
September 13, 2019
He doesn't want a cap on it on something volatile. Gold has been recently volatile recently so he doesn't want a cap on it.
He doesn't want a cap on it on something volatile. Gold has been recently volatile recently so he doesn't want a cap on it.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$28.170
Owned
No
TOP PICK
TOP PICK
August 1, 2019
15 equally weighted senior gold producers, and they sell calls against it. Massive premiums. You get gold with equity leverage. Yield is 4.40%.
15 equally weighted senior gold producers, and they sell calls against it. Massive premiums. You get gold with equity leverage. Yield is 4.40%.
Mike Philbrick
President, ReSolve Asset Management
Price
$28.800
Owned
No
COMMENT
COMMENT
July 19, 2019

XGD-T vs HEP-T vs GLD-N. XGD-T is global, primarily Canadian gold stocks. HEP-T is based on futures contracts, a more pure play. GLD-N holds physical gold. Not bullish on gold, but will trade it seasonally.

XGD-T vs HEP-T vs GLD-N. XGD-T is global, primarily Canadian gold stocks. HEP-T is based on futures contracts, a more pure play. GLD-N holds physical gold. Not bullish on gold, but will trade it seasonally.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$28.580
Owned
Unknown
COMMENT
COMMENT
July 8, 2019
Gold stocks don’t generally pay a dividend. Horizons and a few others shave come out with ETFs where they write options and take the premiums. Over the last 5 years there is a loss but if you compare it now, you get a much lower return compared to the appropriate index.
Gold stocks don’t generally pay a dividend. Horizons and a few others shave come out with ETFs where they write options and take the premiums. Over the last 5 years there is a loss but if you compare it now, you get a much lower return compared to the appropriate index.
Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$26.400
Owned
Unknown
DON'T BUY
DON'T BUY
February 7, 2019

Would like a Gold ETF but enjoys getting dividends - Don't think dividend and gold stock. They are two different things. Don't go together. Even if it pays dividend it is going to move a lot. Gold is going into a consolidation. He prefers XGD. The granddaddy in the space. But it is expensive at 65 basis points.

Would like a Gold ETF but enjoys getting dividends - Don't think dividend and gold stock. They are two different things. Don't go together. Even if it pays dividend it is going to move a lot. Gold is going into a consolidation. He prefers XGD. The granddaddy in the space. But it is expensive at 65 basis points.

Terry Shaunessy
President & portfolio manager, Shaunessy Investment Counsel
Price
$24.100
Owned
Unknown
DON'T BUY
DON'T BUY
October 21, 2015

Really doesn’t like this. If he is going to be writing a covered call position on gold, which he doesn’t like to begin with, he doesn’t want to be messing around with a yield component. He wants to get the full benefit of the rise in the price of the commodity, rather than hedging it off.

Really doesn’t like this. If he is going to be writing a covered call position on gold, which he doesn’t like to begin with, he doesn’t want to be messing around with a yield component. He wants to get the full benefit of the rise in the price of the commodity, rather than hedging it off.

John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$4.150
Owned
No
BUY
BUY
July 31, 2014

It generates a good dividend by writing Calls against the positions it has in its portfolio. Between the end of July and through to September, gold miners tend to go higher.

It generates a good dividend by writing Calls against the positions it has in its portfolio. Between the end of July and through to September, gold miners tend to go higher.

Jon Vialoux
Research Analyst, CastleMoore Inc.
Price
$6.420
Owned
Unknown
DON'T BUY
DON'T BUY
April 2, 2014

Not a good investment. This is large-cap gold companies, so you are going to get the movement of those companies and you are going to get a dividend and a covered call premium attached to that. Right now you are getting a yield of about 13%. In the past 12 months, it was trading at around the $9 mark and is now at around $6. Yielding about 8% a year ago. Has no idea where gold is going to go.

Not a good investment. This is large-cap gold companies, so you are going to get the movement of those companies and you are going to get a dividend and a covered call premium attached to that. Right now you are getting a yield of about 13%. In the past 12 months, it was trading at around the $9 mark and is now at around $6. Yielding about 8% a year ago. Has no idea where gold is going to go.

Michael Bowman
Portfolio Manager, Wickham Investment Management
Price
$6.220
Owned
No
COMMENT
COMMENT
September 9, 2013

He doesn’t follow it. In general he looks at upper $1400s to lower $1500s for gold prices in the coming year. We are in a trading range. Something needs to come along to change that.

He doesn’t follow it. In general he looks at upper $1400s to lower $1500s for gold prices in the coming year. We are in a trading range. Something needs to come along to change that.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$7.200
Owned
No
COMMENT
COMMENT
December 17, 2012

If you are bearish on the sector and you want to generate some income, this is the way to play it. If we see gold above $1800, abandon this.

If you are bearish on the sector and you want to generate some income, this is the way to play it. If we see gold above $1800, abandon this.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$5.840
Owned
Unknown
COMMENT
COMMENT
June 19, 2012
Gold is very much misunderstood. It dropped about 30% in 2007-2008. Currently we have seen it come down from about $1900 to about $1600. Gold is not hedge against a geopolitical issue nor is it a hedge against inflation. Covered calls work great in a low volatile market and a range bound market but does not do well in a bull market. If you are bullish on gold, you do not want to own this one.
Gold is very much misunderstood. It dropped about 30% in 2007-2008. Currently we have seen it come down from about $1900 to about $1600. Gold is not hedge against a geopolitical issue nor is it a hedge against inflation. Covered calls work great in a low volatile market and a range bound market but does not do well in a bull market. If you are bullish on gold, you do not want to own this one.
Michael Bowman
Portfolio Manager, Wickham Investment Management
Price
$6.580
Owned
Unknown
COMMENT
COMMENT
June 19, 2012
He has been a strong believer in the concept of writing Call Options against gold producers. Gold stocks have declined in the last 6-7 months. The other issue is that premiums written on this ETF are distributed to the unit holders. Advantage of writing covered calls is that the premium actually reduces the risk of your holding. Yield is about 18%. Pretend the yield is actually 8% and use the other 10% for a systematic purchase of the ETF.
He has been a strong believer in the concept of writing Call Options against gold producers. Gold stocks have declined in the last 6-7 months. The other issue is that premiums written on this ETF are distributed to the unit holders. Advantage of writing covered calls is that the premium actually reduces the risk of your holding. Yield is about 18%. Pretend the yield is actually 8% and use the other 10% for a systematic purchase of the ETF.
Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$6.580
Owned
Unknown
DON'T BUY
DON'T BUY
June 1, 2012
Covered call on gold. When people see the very high yield, all it s doing is reflecting the price of gold and the very high premiums it is receiving. There is the volatility of the underlying commodity. This product doesn’t make a lot of sense to him.
Covered call on gold. When people see the very high yield, all it s doing is reflecting the price of gold and the very high premiums it is receiving. There is the volatility of the underlying commodity. This product doesn’t make a lot of sense to him.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$6.310
Owned
Unknown
BUY
BUY
March 26, 2012
Gold producers have not kept pace with gold commodities. Gold bullion is getting close to a rally point. They enhance by covered call writing. Uncovered call strategy will lag a straight gold strategy.
Gold producers have not kept pace with gold commodities. Gold bullion is getting close to a rally point. They enhance by covered call writing. Uncovered call strategy will lag a straight gold strategy.
Vikash Jain, CFA
Portfolio Manager, ArcherETF
Price
$7.190
Owned
Unknown
COMMENT
COMMENT
December 21, 2011
Covered Call Cdn Banks ETF (ZWB-T) or Enhanced Income Gold ETF (HEP-T)? Would prefer the gold HEP as he thinks gold is one of the best sectors of the economy against which to write covered calls.
Covered Call Cdn Banks ETF (ZWB-T) or Enhanced Income Gold ETF (HEP-T)? Would prefer the gold HEP as he thinks gold is one of the best sectors of the economy against which to write covered calls.
Richard Croft
President, R.N. Croft Financial Group Inc.
Price
$7.740
Owned
Unknown
COMMENT
COMMENT
December 1, 2011
Enhanced Income Gold ETF. These are gold producers. Gold stocks have gone nowhere for quite a while. Because they are volatile writing options on them is a better strategy than owning them out right.
Enhanced Income Gold ETF. These are gold producers. Gold stocks have gone nowhere for quite a while. Because they are volatile writing options on them is a better strategy than owning them out right.
Derek Webb, CFA
Chairman, CIO, Webb Asset Management
Price
$8.630
Owned
Unknown
COMMENT
COMMENT
November 4, 2011
Enhanced Income Gold ETF. This writes covered calls on gold producers. An interesting product. He isn't a gold bug but if they where, they would be interested in looking at it.
Enhanced Income Gold ETF. This writes covered calls on gold producers. An interesting product. He isn't a gold bug but if they where, they would be interested in looking at it.
John Hood
President & Portfolio Manager, J. C Hood Investment.
Price
$8.870
Owned
No
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