MJ — ETFMG Alternative Harvest ETF
Data updated: 2024-02-28
MJ — ETFMG Alternative Harvest ETF. United States Small Cap Blend / Core Equity · $223.07M AUM. Holdings, fees, performance and SEC filings.
MJ Fund Overview
MJ — ETFMG Alternative Harvest ETF is a US ETF managed by ETF Managers Trust, categorised as United States Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: ETF Managers Trust
- Category: United States Small Cap Blend / Core Equity
- Assets under management: $223.07M
- 1-year return: -21.5%
- Ticker: MJ
- SEC CIK: 0001467831
- SEC series ID: S000051172
- Share class ID: C000161092
MJ Investment Objective and Strategy
ETFMG Alternative Harvest ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Managers Trust.
Investment objective
The ETFMG Alternative Harvest ETF (the Fund) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Prime Alternative Harvest Index (the Index).
Principal investment strategy
The Fund uses a passive or indexing approach to try to achieve its investment objective. Unlike many investment companies, the Fund does not try to beat the Index and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will use a replication strategy. A replication strategy is an indexing strategy that involves investing in the securities of the Index in approximately the same proportions as in the Index. However, the Fund may utilize a representative sampling strategy with respect to the Index when a replication strategy might be detrimental to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to follow the Index, in instances in which a security in the Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Index.
The Index tracks the performance of the exchange-listed common stock (or corresponding American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs)) of companies across the globe, including U.S. companies, that (i) are engaged in the legal cultivation of cannabis, or the legal production, marketing or distribution of cannabis products for medical or non-medical purposes (Cannabis Companies); (ii) engage in the lawful creation, marketing or distribution of prescription drugs that utilize cannabinoids as an active ingredient (Pharmaceutical Companies); (iii) trade tobacco or produce tobacco products, such as cigarettes, cigars or electronic cigarettes; (iv) produce cigarette and cigar components, such as cigarette paper and filters; or (v) engage in the creation, production and distribution of fertilizers, plant foods, pesticides or growing equipment to be used in the cultivation of cannabis or tobacco.
The Index only includes companies that are engaged exclusively in legal activities under applicable national and local laws, including U.S. federal and state laws. Therefore, the Index will not include any companies that are in violation of any United States federal or state laws. Companies whose business activities are legal under state law, but not legal under federal law, are automatically ineligible for inclusion in the Index. Because the Index only includes companies that are currently engaged exclusively in legal activities under applicable national and local laws, the Index will not include any company that engages in the cultivation, production or distribution of marijuana or products derived from marijuana for medical or non-medical purposes in a particular country, including the United States, unless and until such time as the cultivation, production or distribution of medical or non-medical marijuana, as applicable, becomes legal under all local and national laws governing the company in such country.
A Cannabis Company is considered to be primarily engaged in a line of business if it derives more than 50% of its revenue from such activity. The Cannabis Companies would possess all necessary permits and licenses to legally grow cannabis. As of the date of this prospectus, the Cannabis Companies do not include companies that grow or distribute marijuana inside of the United States. Additionally, the Cannabis Companies only supply products for activities that are legal under applicable national and local laws, including U.S. federal and state laws. The Pharmaceutical Companies produce, market or distribute drug products that use cannabinoids to create government approved drugs. Cannabinoids are extracts from the cannabis plant and include tetrahydrocannabinol, cannabidiol, dronabinol and nabilone.
All Pharmaceutical Companies would have the necessary permits and licenses to engage in lawful medical research using cannabinoids to produce government approved drugs, or to otherwise produce, market or distribute such drugs. This activity is distinct from the medical marijuana business, which refers to the use of the cannabis leaf, as opposed to specific extracts in pharmaceutical form, to alleviate the symptoms of injury or illness. The initial universe of companies engaged in the above activities is determined based on proprietary research and analysis conducted by the Index Provider. The Index Provider uses a variety of publicly available resources for such analysis, including shareholder reports of issuers, public disclosures on the websites of applicable U.S. or Canadian health regulators or the Bloomberg Terminal, to determine whether a company is engaged in one of the businesses described in categories (i)-(v), above.
The Index universe is then screened to eliminate the stocks that have a market capitalization of less than $200 million or a three-month average daily trading volume of less than $500,000. Additionally, component securities of the Index must not be listed on an exchange in a country which employs restrictions on foreign capital investment such that those restrictions render the component effectively non-investable for a U.S.-based fund. The Index is developed and owned by Prime Indexes (the Index Provider), and the Index is calculated and maintained by Solactive AG. The Index Provider is independent of Solactive AG, the Fund, the Funds investment adviser, and the Funds distributor. As of December 18, 2017, the Index had 30 constituents, 17 of which were foreign companies, and the three largest stocks and their weightings in the Index were Cronos Group (5.50%), CannTrust Holdings (5.42%), and Canopy Growth (5.31%).
The Index is reconstituted and rebalanced quarterly. Changes are announced on the Index Providers publicly available website prior to their effective date. The Fund will invest at least 80% of its total assets, exclusive of collateral held from securities lending, in the component securities of the Index and in ADRs and GDRs based on the component securities in the Index (the 80% Policy). The Fund may invest up to 20% of its total assets in securities that are not in the Index to the extent that the Funds investment adviser believes that such investments should help the Funds overall portfolio track the Index. Correlation: Correlation is the extent to which the values of different types of investments move in tandem with one another in response to changing economic and market conditions. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio.
The performance of the Fund and the Index may vary somewhat due to transaction costs, asset valuations, foreign currency valuations, market impact, corporate actions (such as mergers and spin-offs), legal restrictions or limitations, illiquid or unavailable securities, and timing variances. The Funds investment adviser expects that, over time, the correlation between the Funds performance and that of the Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Index than if it uses a representative sampling strategy. Industry Concentration Policy: The Fund will concentrate its investments ( i.e ., hold more than 25% of its net assets) in a particular industry or group of related industries to approximately the same extent that the Index is concentrated.
As of December 18, 2017, the Index was concentrated in the Pharmaceuticals and Tobacco industries.
MJ Holdings
Top 10 holdings of ETFMG Alternative Harvest ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| ETFMG US Alternative Harvest E | 49.24% |
| Mount Vernon Liquid Assets Portfolio, LLC | 32.67% |
| Tilray Brands Inc | 9.07% |
| Innovative Industrial Properti | 8.15% |
| SNDL Inc | 5.16% |
| Cronos Group Inc | 5.06% |
| Canopy Growth Corp | 3.43% |
| Chicago Atlantic Real Estate F | 2.89% |
| Aurora Cannabis Inc | 2.44% |
| AFC Gamma Inc | 2.32% |
MJ Portfolio Allocation
Asset-class allocation of ETFMG Alternative Harvest ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 34.5% |
MJ Performance
Total returns for MJ (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -21.5% |
| 3 years (annualised) | -37.4% |
MJ Risk Information
Risk metrics for MJ, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 36.6%
MJ Costs and Fees
MJ costs about $75 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.75%
- Gross expense ratio: 0.94%
- Portfolio turnover: 74%
- Brokerage commissions: 65.69 bps of average net assets (SEC N-CEN)
MJ Cashflows
Over the 12 months to 2023-12, ETFMG Alternative Harvest ETF had net inflows of $20.36M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-12 | $0 |
| 2023-11 | $0 |
| 2023-10 | $6.78M |
| 2023-09 | $0 |
| 2023-08 | $2.47M |
| 2023-07 | $0 |
MJ Debt Constituents
No individual debt constituents are reported in ETFMG Alternative Harvest ETF's latest SEC N-PORT filing.
MJ Prospectus and SEC Filings
Official ETFMG Alternative Harvest ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-08-18
- Prospectus (485BPOS) — filed 2022-01-28
- Prospectus supplement (497) — filed 2023-01-31
- Portfolio holdings (N-PORT) — filed 2024-02-28
- Portfolio holdings (N-PORT) — filed 2023-11-28
- Portfolio holdings (N-PORT) — filed 2023-08-25
- Annual census (N-CEN) — filed 2023-12-14
- Annual census (N-CEN) — filed 2022-12-15
Related Funds
Other United States Small Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.