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‘Altered Experience’ Fund Brings Psychedelics to U.S. ETFs

By Claire Ballentine
May 28, 2021, 9:01 AM EDT Updated on May 28, 2021, 4:17 PM EDT

Defiance’s PSY tracks medical uses of legal psychedelics
Follows launch of a similar Canadian fund in January
Curious investors looking for new experiences in the $6.3 trillion U.S. exchange-traded fund market can now dabble in the world of psychedelic drugs.

The Defiance Next Gen Altered Experience ETF began trading Friday under the ticker PSY, offering exposure to firms involved in “the next generation of medicine, including psychedelics, cannabis and other psychedelic-derived treatments,” according to a statement.

Although a similar product launched in Canada in January, the Defiance fund will be a first for the exchange-traded fund industry in the U.S. This version will track the BITA Medical Psychedelics, Cannabis and Ketamine Index, which includes companies that conduct federally legal medical activities with psychedelics, cannabis and ketamine.

“The focus of this is the medical aspect around psychedelics and mental health -- we’re seeing a lot of breakthroughs,” Paul Dellaquila, president of Defiance ETFs, said in an interview. “You’re seeing some of the bigger companies get involved in this type of treatment. Johnson & Johnson has a treatment that is ketamine-based for depression.”

Its top positions are in Charlottes Web Holdings Inc. and Aurora Cannabis Inc. During its first day trading, the fund rose 4.1%.

Despite poor performance, the Canadian product -- Horizons Psychedelic ETF (PSYK) -- has attracted about $50 million since its January launch, even as it plunged almost 20% amid a broader selloff in speculative bets. Top holdings in the fund include Seelos Therapeutics Inc., Mind Medicine MindMed Inc. and Cybin Inc.

Learn more: Trillions Podcast: ETFs Get Trippy in the Shroom Sector

Horizons ETFs has filed for a sister psychedelics ETF for U.S. markets, also trading under the ticker PSYK, although it has not yet been approved by U.S. regulators.

The market for psychedelic drugs is worth only about $2.8 billion but is growing rapidly and expected to reach $7.6 billion by 2028, according to Data Bridge Market Research.

“With cannabis becoming more accepted across the U.S., we believe the door is opening wider for alternative drugs, especially as substitutes for opioids,” wrote Eric Balchunas, ETF analyst for Bloomberg Intelligence, in a note.

www.bloomberg.com/news/articles/2021-05-28/-altered-experience-fund-is-bringing-psychedelics-to-u-s-etfs

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A New ETF Launches for Next-Gen Medicine

Baystreet.ca
Mon., May 31, 2021, 11:14 a.m.

According to a report from ResearchAndMarkets, the global psychedelic drugs market could be worth $10.75 billion by 2027. And until then, it will grow at a compounded annual growth rate of more than 12%.

The sector is still in its infancy stages, which it makes it both very promising and risky. One way for investors to hedge some of that risk is to invest in an exchange-traded fund (ETF) that gives them some broad exposure. And Defiance Next Gen Altered Experience ETF (NYSEArca:PSY) can accomplish just that. It is the first psychedelic ETF to trade in the U.S. and launched just last week. However, the fund goes beyond just psychedelics.

Defiance ETFs says that investors will get "exposure to companies involved in the development of the next generation of medicine, including psychedelics, cannabis and other psychedelic derived treatments."

The top two stocks in the fund are from the cannabis sector as both Charlotte's Web (TSX:CWEB) and Aurora Cannabis (TSX:ACB)(NASDAQ:ACB) make up more than 7% of the fund's net assets. Psychedelics stock Compass Pathways (NASDAQ:CMPS) is also in the fund and at the number five spot, with a weight of about 5.6%. Mind Medicine (NASDAQ:MNMD) is a few spots further down.

However, the makeup of the ETF likely change as more psychedelic companies go public. Currently, there are just 20 holdings in the fund so investors won't get a whole lot of diversification just yet; in larger funds, stocks can make up just 1% or 2% of the total holdings.

The Next Gen Altered Experience ETF charges an expense ratio of 0.75%.

ca.finance.yahoo.com/news/etf-launches-next-gen-medicine-151400018.html

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AP has a can't beat them strategy. AP can't beat Bellus Health to a data readout. Bellus Health flopped on their 1st try and will run circles around AP to get to a data readout for their 2nd try with its Chronic Cough trial - with hundreds of patients. Therefore, since AP can't beat anybody at anything - AP may as well join/follow the crowd and hope to get thrown some scraps at some point down the road. That's the game show host CEO's leadership style @ AP. It's just a matter of tick-tock time. Don't believe me? Just watch >

M$

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