Profit or Protect

in Bull & Bear markets

HBP S&P 500 Bull+ ETF (HSU)

HBP S&P 500 Bear+ ETF (HSD)

HORIZONS BETAPRO ETFS

Horizons BetaPro Exchange Traded Funds (HBP ETFs), a unique series of alternative Exchange Traded Funds (ETFs), are designed to help investors achieve their investment goals in all market conditions. HBP ETFs go beyond traditional index funds. HBP Bull Plus ETFs seek to double the daily performance of a market index. HBP Bear Plus ETFs seek twice the daily returns opposite those of an index. Combined, Horizons BetaPro ETFs allow investors to profit or protect in all market environments.

INVESTMENT OBJECTIVE

The Horizons BetaPro S&P 500® Bull Plus ETF (HBP S&P 500® Bull+ ETF) and the Horizons BetaPro S&P 500® Bear Plus ETF (HBP S&P 500® Bear+ ETF) seek daily investment results equal to 200% the daily performance, or inverse performance, of the S&P 500® Index, before fees and expenses. The S&P 500® Index is an index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500® is designed to be a leading indicator of U.S. equities, reflecting the risk/return characteristics of the large cap universe. The Index is one of the most commonly used benchmarks for the overall U.S. stock market.

PRINCIPAL INVESTMENT STRATEGY

The HBP S&P 500® Bull+ ETF and the HBP S&P 500® Bear+ ETF take positions in financial instruments and/or equity securities to seek daily investment results, before fees and expenses, that correspond to twice the daily performance or inverse performance of the S&P 500Ò Index. HBP ETFs are rebalanced daily, so risk is limited to the initial invested capital. As a result, 200%/-200% benchmark tracking over a longer period is dependent upon the extent of compounding and the underlying benchmark volatility. To minimize these effects, longer-term investors should rebalance their HBP ETF holdings periodically.

TOP TEN INDEX HOLDINGS (MAY 31, 2009)

1. Exxon Mobil 4.27%   6. General Electric 1.77%
2. Microsoft 1.99%   7. IBM 1.77%
3. Johnson & Johnson 1.90%   8. JP Morgan Chase & Co. 1.73%
4. Procter & Gamble 1.89%   9. Chevron Corp. 1.66%
5. AT&T Inc. 1.82%   10. Apple 1.51%
TOTAL:  20.31%

ETF SNAPSHOT

Ticker: HSU / HSD
Inception Date: June 18, 2008
Cusip: 44046M105 / 44045R105
Exchange: TSX
Underlying Index: S&P 500 Composite Total Return
Bloomberg Index Ticker: SPTR
Management Fee: 1.15%
RSP and TFSA Eligible: Yes
Portfolio Manager: ProShare Advisors LLC

PERFORMANCE (MAY 31, 2009)

  Bear (HSD) Bull (HSU) S&P 500 Composite Total Return
1 Month -11.63% 10.00% 5.59%
3 Months -42.10% 49.10% 25.83%
6 Months -24.14% -4.78% 4.05%
YTD -17.97% -4.15% 2.96%
1 Year - - -32.57%
3 Years - - -8.24%
5 Years - - -1.91%
Since Inception 21.70% -65.02% -

HISTORICAL RETURNS

The following table shows the cumulative growth of $10,000 initial investment in the fund.

Chart showing growth of $10000
All Horizons BetaPro Bull+ and Bear+ Exchange Traded Funds ("HBP ETFs") use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. All HBP ETFs are subject to aggressive investment risk, leverage risk, and price volatility risk, which are described in the HBP ETF's prospectus. Each HBP ETF seeks a return that is either 200% or -200% commodity or benchmark (the "target") for a single day. Due to the compounding of daily returns, a HBP ETF's returns over periods other than one day will likely differ in amount and possibly direction from the performance of the specified underlying index for the same period. Investors should monitor, as frequently as daily, their holdings to ensure that it remains consistent with their investment strategies. Commissions, management fees and expenses all may be associated with HBP ETFs. HBP ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing.

Source: CTVglobemedia Publishing Inc.

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