Two new Canadian exchanged-traded funds aim to give investors exposure to the U.S. and international marijuana markets, sectors that have largely been avoided by other ETFs because of legal uncertainties.
Horizons ETFs Management Canada Inc. filed a preliminary prospectus to launch the Junior Marijuana Growers Index ETF, which includes companies with operations in the U.S. This is in contrast to Horizons’s existing Marijuana Life Sciences Index ETF, which avoids U.S. growers and focuses on larger companies with ancillary exposure like Scotts Miracle-Gro Co.
Separately, Evolve Funds Group Inc. filed Friday to launch the world’s first actively managed marijuana ETF under the ticker SEED, which will initially focus on Canadian-listed companies with the goal of buying securities in other countries as legalization spreads. It also has the ability to invest up to 10 percent of the fund in private companies. […]