Horizons launches medical marijuana ETF

Jess Morgan 5 April, 2017 | 5:00PM

Canada's fourth-largest ETF provider is the first in the world aiming to capitalize on the growing medical marijuana industry. Horizons ETFs Management (Canada) Inc. today launched Horizons Medical Marijuana Life Sciences ETF, which trades on the Toronto Stock Exchange under the symbol HMMJ.

With the North American medical marijuana market generating US$6.7 billion in revenues in 2016, up 30% from the year before, Horizons sees "strong growth potential" for diversified industry exposure. Its portfolio consists of "publicly listed life sciences companies with significant business activities in the marijuana industry," according to HMMJ's product sheet. These companies will generally have a market capitalization of at least $75 million.

HMMJ tracks the North American Medical Marijuana Index, created by German index provider Solactive. This index tracks 16 companies, including Vancouver's Aurora Cannabis (ACB), Ottawa's CannaRoyalty (CRZ) and Aphria Inc. (APH) of Leamington, Ontario.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Aphria Inc5.80 CAD-3.65
Aurora Cannabis Inc7.39 CAD-24.05
Origin House  

About Author

Jess Morgan

Jess Morgan  Jess Morgan is the associate editor of Morningstar Canada’s website. She began her career as a television producer and freelance writer, often making appearances on TV and radio as a commentator on politics and culture. She holds a BA in communications from the University of Winnipeg and a diploma in Creative Communications from Red River College.

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