Horizons BetaPro Bull Plus and Bear Plus Exchange Traded Funds ("HBP Plus ETFs") use leveraged investment techniques that magnify gains and losses and result in greater volatility in value. HBP Plus ETFs are subject to leverage risk, and Horizons BetaPro Single Exchange Traded Funds ("HBP Single ETFs"), Horizons BetaPro Inverse Exchange Traded Funds ("HBP Inverse ETFs") and HBP Plus ETFs (collectively, "HBP ETFs") are subject to aggressive investment risk and price volatility risk, which are described in the HBP ETF's prospectus. Each HBP Plus ETF seeks a return that is either 200% or -200% of the performance of a specified underlying index, commodity or benchmark (the "target") for a single day. Each HBP Single ETF or HBP Inverse ETF seeks a return that is 100% or - 100%, respectively, of the performance of a specified underlying target. Due to the compounding of daily returns, an HBP Plus ETF's or HBP Inverse ETF's, returns over periods other than one day will likely differ in amount and possibly direction from the performance of the specified underlying target for the same period. Investors should monitor their holdings, as frequently as daily, to ensure that they remain 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. All trademarks/service marks are registered by their respective owners and licensed for use by BetaPro Management Inc. and none of the owners thereof or any of their affiliates sponsor, endorse, sell, promote or make any representation regarding the advisability of investing in HBP ETFs. Complete trademark and servicemark information is available at www.hbpetfs.com/trademark. Please read the prospectus before investing.   Commissions, management fees and expenses all may be associated with Exchange Traded Funds ("ETFs") investments. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Please read the prospectus before investing. "Standard & Poor's®" and "S&P®" are registered trademarks of The McGraw-Hill Companies, Inc. and "TSX®" is a registered trademark of the TSX Inc. These marks have been licensed for use by BetaPro Management Inc. The Horizons AlpaPro ETFs are not sponsored endorsed, sold, or promoted by Standard & Poor's or TSX Group and its affiliated companies and neither party make any representation, warranty or condition regarding the advisability of investing in the HAP ETFs. All trademarks/service marks are registered by their respective owners and licensed for use by BetaPro Management Inc. and/or AlphaPro Management Inc. All the respective owners or any of their affiliates do not sponsor, endorse, sell, promote or make any representation regarding the advisability of investing in Horizons AlphaPro ETFs. Complete trademark and servicemark information is available at www.hapetfs.com/trademark. Please read prospectus before investing.