cannabis leaf in hand close up

Horizons ETFs Management (Canada) Inc. announced on Wednesday the launch of two new marijuana ETFs that offer investors leveraged and inverse exposure to the North American MOC Marijuana Index.

The BetaPro Marijuana Companies 2x Daily Bull ETF (ticker symbol: HMJU) seeks to double the daily performance of the index, while the BetaPro Marijuana Companies Inverse ETF (ticker symbol: HMJI) seeks to correspond to 100% of the inverse daily performance of the index.

Both funds will begin trading Friday on the Toronto Stock Exchange, according to a release from Horizons.

“HMJU and HMJI are higher-risk ETFs that will give Canadian marijuana equity investors the opportunity to potentially generate returns in both positive and negative markets in the marijuana sector,” Steve Hawkins, president and CEO of Horizons ETFs, said in the release.

The management fee for both funds will be 1.45%. HMJI will also be subject to hedging costs, which Horizons estimates will be between 15% and 30% per year of the aggregate notional exposure of HMJI’s forward documents.