Exchange-traded funds (ETFs), otherwise known as investment funds that are traded on stock exchanges, are commonplace in the investment world. However, because of the current volatility in the cannabis sector, there isn’t an abundance of marijuana-related ETFs. Horizons Marijuana Life Sciences ETF (OTC: HMLSF) is a rare cannabis-related ETF, and it could be a sleeper power play this year that some investors aren’t thinking about.
HMLSF has significant holdings in both Cannaopy Growth (NYSE: CGC) and GW Pharmaceuticals (NASDAQ: GWPH), which are two of the highest-valued companies and top stocks in the cannabis sector. These top cannabis stocks make up 30% of HMLSF’s total assets. With a valuation of CGC at $7.2 billion and GWPH at $3.1 billion, these companies are likely to stay at the top of their industries, as well as help the HMLSF ETF see growth in 2020 as well.