Horizons Active High Yield Bond ETF?s (the ?ETF?) investment objectives are to provide Unitholders with: (i) high total return income; and (ii) monthly distributions. The ETF invests, directly or indirectly, primarily in high-yield debt securities of North American companies. The ETF may also invest, directly or indirectly, in convertible debentures, preferred shares and mortgage back securities. The ETF will, to the best of its ability, seek to hedge its non-Canadian dollar currency exposure to the Canadian dollar at all times.