Horizons ETFs Management (Canada) Inc. has announced the launch of the BetaPro Marijuana Companies 2x Daily Bull ETF (HMJU) and the BetaPro Marijuana Companies Inverse ETF (HMJI). Units of the ETFs began trading May 24 on the Toronto Stock Exchange.

HMJU and HMJI provide leveraged and inverse exposure, respectively, to the North American MOC Marijuana Index.

"Since we introduced HMMJ in 2017, thousands of Canadian investors have approached us and expressed their wish for leveraged and inverse exposure to the Canadian cannabis sector," said Steve Hawkins, President and CEO at Horizons ETFs. "Until now, generating leveraged and inverse exposure to marijuana equities has been difficult and typically requires using a margin account and securities lending facilities. HMJU and HMJI streamline this process and allow investors to get leverage and inverse access through diversified ETF exposure to the sector, rather than taking on individual stock risk or having to using a margin account."

He adds that the new funds are higher-risk ETFs that will give Canadian marijuana equity investors the opportunity to potentially generate returns in both positive and negative markets in the Marijuana sector.

The company underlined that as BetaPro funds, HMJU and HMJI are designed to provide daily investment results by employing leverage and short exposure beyond the limits prescribed for conventional mutual funds. “These characteristics make them riskier than funds that do not employ these mechanisms and make them more suitable for sophisticated investors,” says Horizons ETFs.