“California — the most populated state with nearly 40 million and the sixth-largest economy in the world — expects to generate $1 billion from recreational marijuana. These mouthwatering numbers will prove irresistible to states. It’s only a matter of time before political pressure goads the remaining 21 states into following suit,” according to Seeking Alpha.
MJX country weights include Canada 41%, US 34%, UK 9%, Hong Kong 3%, Italy 3%, Denmark 3%, Japan 3% and Sweden 3%. Sector weights include health care 50%, consumer staples 31%, materials 9%, stocks 7% and industrials 3%.
Investors have added nearly $294 million to MJX since the start of this year.
For more information on new fund products, visit our new ETFs category.