HMMJ is the first-ever ETF that offers investors direct exposure to a basket of North American-listed stocks that are actively involved with the marijuana industry.
HMMJ is an index-based ETF, which seeks to replicate, to the extent possible, the performance of the Solactive North American Medical Marijuana Index, net of expenses. Rebalancing of the North American Medical Marijuana Index, and by extension, the Horizons Marijuana Life Sciences Index ETF, occurs before the end of each calendar quarter. At that point, all stocks eligible for inclusion in the index are weighted by their respective market capitalization. No single stock can exceed 10% of the weight of the portfolio at the rebalance date.
In conjunction with the recently announced index rebalance by Solactive AG, HMMJ has also rebalanced the holdings of the ETF portfolio. It is important to note that HMMJ may not hold all of the constituent names in the Index.
Fund holdings as of Friday, June 16th are shown below. We'll be sure to update readers on the rebalanced portfolio tomorrow upon release.