MJ is the first cannabis-focused ETF to trade in the US. The fund tracks an index of stocks across the globe that are engaged in the legal cultivation, production, marketing or distribution of cannabis products for either medical or nonmedical purposes. The index identifies companies that legally derive more than half their revenue from cannabis-related activities. MJ also holds stocks of companies that trade or produce tobacco products, fertilizers, plant foods, pesticides, equipment for cannabis or tobacco. Weightings are determined through a proprietary methodology, either by market cap or equally, depending on company engagement to cannabis. The fund does not directly invest in swaps but may hold ETFs utilizing swaps to gain exposure to similar securities. The index is reconstituted and rebalanced quarterly. Prior to Dec. 26, 2017, the fund was called the Tierra XP Latin America Real Estate ETF and tracked an index focused on Latin America real estate companies with the ticker LARE. Before Feb. 9, 2018, the fund traded under the ticker MJX. Prior to January 29, 2023, the fund was named ETFMG Alternative Harvest ETF.
