In the world of exchange-traded funds, it’s not surprising that cannabis funds are viewed as beneficiaries of former Vice President Joe Biden perhaps winning the White House.
What Happened: Marijuana ETFs join a slew of sector and industry funds seen as winners under a Biden Administration. Up 8.28% over the past month, the Amplify Seymour Cannabis ETF (NYSE: CNBS) is an example of a cannabis fund that’s proving sensitive – in a good way – to expectations that the occupant of the Oval Office is soon to change.
CNBS, which turned a year old in July, is an actively managed fund and that strategy is making a world of difference. Over the past six months, CNBS is higher by more than 22% while the passively managed ETFMG Alternative Harvest ETF (NYSE: MJ), the largest cannabis ETF by assets, is lower by 9.54% over the same period.
See Also: Cannabis Stocks, Cruise Lines Have A Lot To Gain From A Biden Victory
Why It’s Important: Analysts see the Biden/Harris stance on…