First Trust Horizon Managed Volatility Small/Mid ETF
First Trust Horizon Managed Volatility Small/Mid ETF (AMEX: HSMV) is an exchange-traded fund listed on NYSE Arca, trading at $35.58 (about ₹3,418 a unit) as of 29 Sep 2026, 3:59 PM ET. It has an expense ratio of 0.8% and holds 150 securities. Indian residents can buy HSMV through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$35.43
Today's high
$35.71
52 week low
$35.00
52 week high
$39.82
HSMV opened at $35.71, closed previously at $35.71, and has traded between $35.00 and $39.82 over the past 52 weeks.
About
The First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) aims to deliver capital appreciation to its shareholders. To achieve this principal objective under typical market conditions, the Fund allocates a substantial portion—at least 80%—of its net assets (which may include borrowed capital) to specific types of investments. These consist of common stocks issued by small and/or mid-capitalization companies. These equities are publicly traded on U.S. national exchanges and are specifically chosen by Horizon Investments, LLC based on their projected low future volatility.
Key statistics
Expense ratio
0.8%
Assets (AUM)
$5.4M
Holdings
150
NAV
$35.83
Avg. volume
—
1-year price change
-1.66%
5-year price change
+11.26%
Price change excludes dividends.
Top 10 holdings
HSMV holds 150 securities in total. These 10 are 16.4% of the fund.
Where the money is invested
Sectors
Countries
How to buy HSMV from India
Indian residents can buy HSMV units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search HSMV and buy
Find the fund by its ticker, HSMV, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in HSMV from India
Trading and taxes when buying HSMV from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the HSMV price today?
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV) last traded at $35.58 on NYSE Arca, as of 29 Sep 2026, 3:59 PM ET. That is ₹3,418 a unit at the 29 Sep 2026 USD/INR rate.
When does HSMV trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is HSMV, and what does it cost to hold?
First Trust Horizon Managed Volatility Small/Mid ETF manages about $5.4M. Its expense ratio is 0.8% a year, deducted inside the fund. It launched in 2020.
What are HSMV's largest holdings?
The top three are Ingredion Incorporated (2.3%), Dolby Laboratories, Inc. (2.0%) and Antero Midstream Corp. (1.6%). HSMV's 10 largest positions make up 16.4% of the fund.
Does HSMV pay dividends?
Yes. HSMV is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on HSMV taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of HSMV?
Yes. You can buy HSMV by amount rather than by whole unit, and there is no minimum trade size.
How has HSMV performed?
HSMV's price is down 1.7% over the past year and up 11.3% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.