World's First Marijuana ETF Reaches $1 Billion in Assets
Horizons ETFs announced that the Horizons Marijuana Life Sciences Index ETF ("HMMJ") has reached CAD $1 billion in assets under management ("AUM").
HMMJ is the first and largest ETF in the world to offer direct exposure to an investable index of North American-listed companies with business activities in the marijuana industry. The ETF reached its $1 billion milestone in a relatively short amount of time – 16 months.
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index (the "Index"), net of expenses. The Index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the Marijuana industry.