Toronto-based Horizons ETFs Management (Canada) Inc. launched Horizons US Marijuana Index ETF.
It trades on the NEO Exchange under the ticker symbols HMUS for units denominated in Canadian dollars (C$), and HMUS.U for units in U.S. dollars.
The ETF uses a passive portfolio-management structure and provides direct exposure to the emerging U.S. cannabis industry.
The ETF seeks to replicate the performance of the U.S. marijuana companies index, calculated and published by Solactive AG, net of expenses. This index is designed to provide exposure to publicly listed North American life sciences companies that have “significant business activities in, or significant exposure to, the United States marijuana or hemp industries,” Horizons states.
The ETF’s management fee is 0.85%.