ETF Trends CEO Tom Lydon discussed the ETFMG Alternative Harvest ETF (MJ) on this week’s “ETF of the Week” podcast with Chuck Jaffe on the MoneyLife Show.
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Prime Alternative Harvest Index. The index is designed to measure the performance of companies within the cannabis ecosystem benefitting from global medicinal and recreational cannabis legalization initiatives.
It was the first U.S. ETF to target the cannabis/marijuana industry.
Many other significant applications for cannabis and THC based medicines and treatments ranging from epilepsy to cancer treatment to non-opioid pain management. Legal marijuana is approximately a $7b a year business in the US and rapidly growing as legalization spreads, according to the issuer.
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