Thematic ETF Issuer, ETF Managers Group’s (ETFMG) ETFMG Alternative Harvest ETF (MJ) has passed USD1 billion in assets under management (AUM).
MJ is now the largest cannabis ETF in the world and remains the first and only US-listed ETF to target the global cannabis industry directly. The Fund provides investors unrivalled exposure to this constantly evolving sector which continues to see medicinal advancements, regulatory changes and M&A activity, highlighting the long-term, outsized investment opportunity in the cannabis industry.
Despite elevated market volatility in 2018, MJ managed to retain and grow assets by 9,600 per cent within its first year. After a nearly 9-million-dollar dividend distribution (equivalent to a 1.36 per cent yield per share) for the quarter, investors that held MJ throughout Q4 of 2018 were essentially paid to own the fund as the income exceeded the total expenses of owning it.
Sam Masucci, CEO and Founder of ETFMG, says: “When we launched MJ I talked about how at ETFMG we look to impact the ETF industry evolution with products that innovate and provide investors exposure to new markets, in fact 75 per cent of our products are first to market. MJ is not only proof of our ability but also as to the power of the ETF wrapper and that thematic products can have a place in the average investor’s portfolio while generating significant returns.” Sam continued by saying; “the tremendous success seen in the global cannabis industry shows no signs of slowing down and we are proud to be a part of it with MJ.”