An ETF with a ticker "YOLO" believes it's the best way to invest in the cannabis industry.
Unlike other broad industry ETFs, YOLO is actively managed
"There are some companies I want to avoid. But as an active portfolio manager, I decide which companies I want to overweight or underweight," said Dan Ahrens, portfolio manager of AdvisorShares' Pure Cannabis ETF, on CNN Business' "Markets Now" live show Wednesday.
He said he tries to make the fund low-turnover, but it tries to act very quickly when it sees action on the horizon. For example, it got out of a company called Insys Theraputics, which afterward said it may go bankrupt.
So why "YOLO?"
We think it's a little bit silly," said Ahrens, who likes that it gets attention. "Some people like to associate it with the marijuana stocks. We were excited to be able to get that ticker."