Quite honestly by the end of the week we’re somewhat sick and tired of reading about this ETF but in case you’ve sensibly hidden under a rock Psilocybin Alpha have quite a good general article about it.
Of course what would be perfect would be if Game Stop Reddit culture moved into the world of psychedelics to apply a bit of chaos theory to the world of profit takers as a shot across the bows in the early days of this “market”
Psilocybin Alpha write
Horizons Psychedelic Stock Index ETF
NEO: PSYK
The world’s first psychedelics ETF was launched by Horizons ETFs in January 2021, marking a milestone for the space.
Key Facts
- Inception date: Jan 26, 2021
- Underlying Index: North American Psychedelics Index (by Solactive)
- Management Fee: 0.85%
Investment Objective
“The ETF seeks to replicate, to the extent possible and net of expenses, the performance of a market index that is designed to provide exposure to the performance of a basket of North American publicly-listed life sciences companies having significant business activities in, or significant exposure to, the psychedelics industry. Currently, the ETF seeks to replicate the performance of the North American Psychedelics Index, net of expenses.”
-2.12%$0.2000After decades of restrictions, recent policy changes and exemptions in Canada and the United States have allowed for increased research in the therapeutic application of psychedelic compounds, and the potential to create an entirely new marketplace for drugs derived from psychedelics. That momentum has allowed for the emergence of a number of psychedelic-focused life sciences companies and we expect many more to follow. An ETF makes particular sense for this emerging industry as it offers investors diversified exposure to the overall growth of the psychedelics sector without the same single stock risk associated with picking your own companies.
Which Companies are Included in the First Psychedelics ETF?
Given the Index’s requirements (see below), the following companies are included in the current North American Psychedelics Index at present:
Johnson & Johnson; AbbVie Inc; Greenbrook TMS Inc.
The Index will be rebalanced quarterly according to a number of factors, some of which are described below.
Read more at. https://psilocybinalpha.com/company/horizons-psychedelic-stock-index-etf-psyk
