Toronto-based Evolve Funds Group Inc. launched Evolve U.S. Marijuana ETF, which trades on the NEO Exchange under the ticker symbol USMJ.
The ETF uses an active portfolio investment strategy and aims to provide long-term capital appreciation.
The ETF invests in a diversified mix of equities issued by publicly listed companies involved in the U.S. marijuana industry where permitted by state and local laws.
USMJ will be denominated in C$ and employ a currency-hedging strategy. The management fee is 0.75%.