MJ
ETFMG Alternative Harvest ETFMG Alternative Harvest
The ETFMG Alternative Harvest ETF tracks a market-cap-weighted index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products.lf
Fund Basics
Fund sponsor | ETF Managers Group |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Dec 03, 2015 |
Assets (mns) | $300 |
Expense ratio | 75 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Market Cap |
Weighting | Market Cap |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
AMPLIFY US ALTERNATIVE HARVEST ETF | 40.8 % |
SUNDIAL GROWERS INC. | 7.6 % |
TILRAY, INC. | 7.4 % |
CRONOS GROUP INC | 6.6 % |
INNOVATIVE INDUSTRIAL PROPERTIES INC | 6.2 % |
CHICAGO ATLANTIC REAL ESTATE FINANCE, IN | 2.8 % |
AURORA CANNABIS INC. | 2.6 % |
AFC GAMMA, INC. | 2.4 % |
GROWGENERATION CORP. | 2.1 % |
HIGH TIDE, INC. | 2.0 % |
Constituent Breakdown
Number of holdings | 28 |
Herfindahl-Hirschman Index | 2,058 |
Wgt avg mkt cap (mns) | $2,228 |
Large cap (>$10bn) | 4.6% |
Mid cap ($2-10bn) | 21.3% |
Small cap (<$2bn) | 73.3% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
CANADA | 27.3 % | |
UNITED STATES | 17.8 % | |
BRITAIN | 1.0 % |
Historical Performance
Standardized Annual Returns (as of 04/30/2024)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
51.5% | 54.4% | -19.3% | -36.9% | -30.2% | -- | -23.0% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.29 | 30% |
MSCI EAFE | 1.24 | 26% |
MSCI Emg Mkts | 0.96 | 16% |
Liquidity Measures
Avg. volume (000) | 2,245 |
Turnover | 3.3% |
Avg. Bid/Ask (% of price) | 0.00% |
ADV of underlying (mns) | $1,056 |
Technical Indicators
Recent close | $4.42 |
30d moving avg. | $3.13 |
Annualized volatility | 42.1% |
Relative strength (RSI) | 55 |
Short interest (ETF) | 6.1% |
Short interest (underlying) | 5.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. MJ |
Expenses vs. MJ |
ALTAR Score™ vs. MJ |
---|---|---|---|---|
TOKE | Cambria Cannabis ETF | 33.0% | -33 bp | +16.4% |
CNBS | Amplify Seymour Cannabis ETF | 21.7% | 0 bp | +1.2% |
YOLO | AdvisorShares Pure Cannabis ETF | 17.0% | +28 bp | +2.2% |
Risk and Returns: MJ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2023 | 2024E | Fwd Est | 2025E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 5/16/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MJ
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
MJ
-25.3%
Cat. Avg
5.7%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | -25.3% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 891 funds in the US Equities category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. MJ's ALTAR Score™ is approximately
12.0 standard deviations
below
the category average. This places MJ in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MJ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
Change | |
Volume | |
Bid/Ask Spread | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
MJ | 75.0 | 0.0 | 75 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .