MJ is the first cannabis-focused ETF to trade in the US. The fund tracks an index of stocks across the globe engaged in the legal cultivation, production, marketing or distribution of cannabis products and those that derive more than half of their revenue from cannabis-related activities. MJ also holds companies that trade or produce tobacco products, fertilizers, plant foods, pesticides, and equipment for cannabis or tobacco. Weighting is based on 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 similar exposure. The index is reconstituted and rebalanced quarterly. Before Dec. 26, 2017, the fund was called Tierra XP Latin America Real Estate ETF (Ticker: LARE) that tracked a Latin America real estate index. Prior to Feb. 9, 2018, the fund traded under the ticker MJX. Before Jan. 29, 2023, the fund was named ETFMG Alternative Harvest ETF.
