Horizons Gold Producer Equity Covered Call ETF (HEP.TO)

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The chart shows the growth of an initial investment of CA$10,000 in Horizons Gold Producer Equity Covered Call ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Horizons Gold Producer Equity Covered Call ETF (HEP.TO) has returned -1.36% so far this year and 65.25% over the past 12 months. Looking at the last ten years, HEP.TO has achieved an annualized return of 16.29%, outperforming the S&P 500 Index benchmark, which averaged 12.91% per year.

Based on dividend-adjusted daily data since Apr 11, 2011, HEP.TO's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, your investment would double in approximately 7.0 years.

Historically, 57% of months were positive and 43% were negative. The best month was Apr 2020 with a return of +34.3%, while the worst month was Mar 2026 at -23.1%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.

On a daily basis, HEP.TO closed higher 50% of trading days. The best single day was Mar 24, 2020 with a return of +12.8%, while the worst single day was Jan 30, 2026 at -11.8%.

Horizons Gold Producer Equity Covered Call ETF has an annualized alpha of 7.07%, beta of 0.14, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since April 12, 2011.

• This ETF captured 7.52% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -12.59%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.14 may look defensive, but with R² of 0.00 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R² of 0.00 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

HEP.TO has an expense ratio of 0.81%, placing it in the medium range.

HEP.TO ranks 79 for risk / return — better than 79% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Horizons Gold Producer Equity Covered Call ETF (HEP.TO) and compare them to a chosen benchmark (S&P 500 Index).

Horizons Gold Producer Equity Covered Call ETF provided a 0.94% dividend yield over the last twelve months, with an annual payout of CA$0.52 per share.

The table displays the monthly dividend distributions for Horizons Gold Producer Equity Covered Call ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Horizons Gold Producer Equity Covered Call ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Horizons Gold Producer Equity Covered Call ETF was 71.13%, occurring on Aug 5, 2015. Recovery took 2293 trading sessions.

The current Horizons Gold Producer Equity Covered Call ETF drawdown is 23.06%.

The chart below shows the rolling one-month volatility.