The ETFMG Alternative Harvest ETF, the first U.S. ETF solely targeting the cannabis or marijuana industry, includes a hefty 61.8% tilt toward Canadian companies, along with a 20.6% tilt toward U.S. companies. MJ includes exposure to some of upstart Canadian companies that could benefit from the new legalized status of cannabis, including a 5.7% position in Canopy Growth, which surged as much as 6% Wednesday.
While not solely targeting the cannabis industry, the AdvisorShares Vice ETF includes companies that derive at least 50% of their net revenue from the marijuana and hemp industry or have at least 50% of their company assets dedicated to lawful research and development of cannabis or cannabinoid-related products. Specifically, the fund includes a 20% position to cannabis-related companies.
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