With rumblings of federal legalization, marijuana-focused exchange-traded funds (ETFs) have been one of the best performers in 2021. Here are three actively managed ETFs investors can look at now as the capital markets await word from the White House.

“The new year has started on a high note for the cannabis industry. Marijuana ETFs – like this one – provide investors with exposure to companies that engage in the cultivation, distribution and sale of marijuana products,” wrote Aimee Bohn in an Investment U article.

“Once again there are whispers in Washington about the possibility of federal legalization,” noted Investment U’s Matthew Makowski, who was referenced in the same article. “Whether the Biden administration chooses to move the goalpost in that direction has yet to be seen. But with or without a federal ruling, one thing is for certain: People are shelling out big bucks for bud across the country.”

“It’s estimated medical marijuana sales broke $7 billion in 2020,” Makowski added. “Within just a few years, medical and recreational marijuana use is expected to be close to a $40 billion industry. Growth like that is hard to ignore. And it’s high time investors take notice.”

1. Amplify Seymour Cannabis ETF (CNBS)

CNBS invests at least 80% of its net assets (including investment borrowings) in the securities of companies that derive 50% or more of their revenue from the cannabis and hemp ecosystem. As mentioned, it is an actively managed ETF that seeks to provide investment exposure to global companies principally engaged in the emerging cannabis and hemp ecosystem across one of three classifications.

CNBS Chart

2. Cambria Cannabis ETF (TOKE)

TOKE seeks capital appreciation from investments in the global equity markets that have exposure to the broad cannabis industry. Under normal market conditions, at least 80% of the value of the fund’s net assets (plus borrowings for investment purposes) will be invested in cannabis companies. The advisor generally expects to invest in cannabis companies across a broad market capitalization spectrum of micro-, small-, and mid-capitalization stocks.

TOKE Chart

3. AdvisorShares Pure Cannabis ETF (YOLO)

YOLO seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in securities of companies that derive at least 50% of their net revenue from the marijuana and hemp business and in derivatives or other instruments that have economic characteristics similar to such securities.

YOLO Chart

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