The Cannabis ETF (NYSE:THCX) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Innovation Labs Cannabis Index, which consists of global companies engaged in the legal cannabis, hemp, or CBD-based pharmaceutical, consumer product, and wellness markets. The fund will invest at least 80% of its total assets in the component securities of the index. It will also invest, under normal circumstances, at least 80% of its net assets, plus borrowings for investment purposes, in exchange listed common stock (or corresponding American Depositary Receipts (“ADRs”) of Cannabis Companies. The index is a proprietary, rules-based index designed to track the performance of a portfolio of Cannabis Companies. The fund is non-diversified.
- Net Assets 151.5 Millions
- YTD Daily Total Return 19.54%
- Yield 1.18%
- Annual Expense Ratio 0.75%
- 19.54% YTD Daily Total Return
- 47.42% 1-Year Daily Total Return
The Cannabis ETF began trading in July 2019 and has an expense ratio of 0.75%. The ETF is passively managed and tracks the Innovation Labs Cannabis Index. While the fund only has $151.5 million in assets, it provides a dividend yield of 1.18%. All of the fund’s holdings are based in the U.S. and Canada. It is heavily weighted to the pharmaceuticals and biotech sector, and follows a blended strategy of investing in a mix of value and growth stocks. The fund’s top three holdings are Canadian producer Tilray at 6.89%, Canopy Growth Corp. at 6.53% and Village Farms International at 5.93% as of August 29, 2021.
Top 10 Holdings (52.48% of Total Assets)
|Canopy Growth Corp||WEED.TO||6.53%|
|Village Farms International Inc||VFF.TO||5.93%|
|Cronos Group Inc||CRON.TO||4.88%|
|Hydrofarm Holdings Group Inc Ordinary Shares||HYFM||4.63%|
|Fire & Flower Holdings Corp Ordinary Shares||FAF.TO||4.50%|
|OrganiGram Holdings Inc||OGI.TO||4.50%|
|RIV Capital Inc Ordinary Shares (Sub Voting)||RIV.TO||4.41%|
This ETF is designed to provide a convenient way for investors to gain exposure to a basket of stocks expected to benefit from growth in the hemp and legal marijuana industries.