We are asked all the time whether or not there is a marijuana stock ETF. Unfortunately, the answer is not yet. While there is currently no ETF focused on the cannabis industry, many do not know that there is in fact a marijuana focused diversified mutual fund. We are happy to announce that the American Growth Fund Series II E now has a profile in our database!
Cannabis Mutual Fund
The American Growth Fund Series II E (MUTF:AMREX) is by no means new. American Growth Fund, Inc. was actually founded back in 1958. Only recently, since late July of 2016 has the fund reorganized to focus on the blossoming marijuana industry.
Unlike a passive ETF, mutual funds have the added benefit of professional management. Managed by Timothy Taggart and his daughter Victoria Taggart, this mutual fund is worth looking into for anyone who wants to have the ease of a diversified basket-style approach to cannabis stocks. Keep in mind that mutual funds have fees which can add up. Also since AMREX is a mutual fund rather than an ETF, it only trades once per day after the close unlike the individual underlying marijuana stocks.
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