Horizons adds 10 new companies to pot ETF

Horizons ETFs completed the quarterly rebalance of the Horizons Marijuana Life Sciences Index ETF last Friday. As a result, 10 new companies have been added to HMMJ’s portfolio. 

HMMJ is the world’s largest ETF offering direct exposure to North American-listed securities involved in marijuana bioengineering and production.

The HMMJ portfolio recently expanded to include the following constituents:

HMMJ is an index ETF that seeks to replicate the performance of the North American Marijuana 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 business activities in the marijuana industry.

All stocks eligible for inclusion in the index are weighted by their respective market capitalization during the quarterly rebalancing. However, no single stock can exceed 10% of the weight of the index at the rebalance date. 

“One of the key benefits of HMMJ is its diversification – providing access to a broad cross-section of stocks involved in the marijuana sector. It’s exciting to see an increase in the number of investable companies that qualify to be included in HMMJ’s portfolio,” said Steve Hawkins, President and Co-CEO of Horizons ETFs. “As we move closer to the Canadian government legalizing the recreational use of marijuana, we continue to watch the Cannabis sector rapidly grow in size and breadth.”

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