FYI: A new exchange-traded fund focused on marijuana stocks plans to undercut competitors when it debuts just days before an unofficial pot holiday.
With a ticker of YOLO -- “You Only Live Once” -- the AdvisorShares Pure Cannabis ETF will charge 74 basis points, or $7.40 for every $1,000 invested, according to regulatory documents. That’s 1 basis point less than the ETFMG Alternative Harvest ETF, known as MJ.
“Launching 1 basis point cheaper than MJ is a bit absurd, but symbolic of the era we are in right now where expense ratio is one of the first things an adviser looks at,” said Eric Balchunas, an ETF analyst at Bloomberg Intelligence. “This ETF has at least a fighting chance to find an audience.”
Regards,
Ted
https://www.bloomberg.com//news/articles/2019-04-16/new-pot-etf-called-yolo-cuts-the-price-to-invest-in-cannabis?srnd=markets-vp
