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Market Chatter: Horizons' New Junior Marijuana ETF Offers Exposure to U.S. Recreational Market


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Two new Canadian exchanged-traded funds aim to give investors exposure to the U.S. and international marijuana markets, "sectors that have largely been avoided by other ETFs because of legal uncertainties," Bloomberg reported earlier on Friday.

According to the report, Horizons ETFs Management Canada Inc. filed a preliminary prospectus to launch the Junior Marijuana Growers Index ETF, which includes companies with operations in the U.S. It said this is in contrast to Horizons' existing Marijuana Life Sciences Index ETF, which avoids U.S. growers and focuses on larger companies with ancillary exposure like Scotts Miracle-Gro Co.

Separately, the report said, Evolve Funds Group Inc. filed Friday to launch the world's first actively managed marijuana ETF under the ticker SEED, which will initially focus on Canadian-listed companies with the goal of buying securities in other countries as legalization spreads. It also has the ability to invest up to 10% of the fund in private companies, the report added.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , ETFs


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