Let’s face it, everyone is interested in what’s going on in the cannabis industry. Whether or not people are personally interested in consuming marijuana, it can be difficult to ignore the massive growth potential of this space.
As the number of companies operating in the sector continues to grow at an astounding rate, it can be tough for the average investor to peg the individual winners and losers.
On Wednesday, April 5th the Horizons Medical Marijuana Life Sciences ETF (TSX:HMMJ) began trading on the TSX. HMMJ was the first-of-its-kind ETF offing investors direct exposure to a basket of marijuana-related companies based in Canada and the United States.
In June, Horizons announced that they’d be cutting the word medical from the fund’s name to reflect upcoming changes in Canada’s recreational marijuana laws and thus expand its investment objective to include a larger potential group of companies.
The re-named Horizons Marijuana Life Sciences ETF seeks to track the Solactive North American Medical Marijuana Index, which currently has 18 top-notch cannabis-focused constituents. HMMJ however gives investors exposure to 21 of the top cannabis companies in North America, as of data from August 22nd.
Since the ETF has more companies in its portfolio than the index, we’ll go over the ETF’s components to give investors an idea of 21 leaders in the space.
Marijuana ETF Components
Back in April, the ETF was tracking 16 different companies. While a majority of the components have remained, new companies have been added and weightings have changed substantially since then.
The cannabis companies that make up the Horizons Marijuana Life Sciences ETF (in order of weighting from highest to lowest) are as follows:
Which Companies Were Removed?