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New PSYK ETF Follows Psychedelics

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2022-02-01-New PSYK ETF Follows Psychedelics

Elemental Advisors Inc. has launched the PSYK ETF, an ETF that focuses on the emerging use of psychedelic compounds in the treatment of mental health problems. The ETF begins trading on the NYSE today.

PSYK tracks the performance of the Enhanced Consciousness Index, which consists primarily of companies involved in the research, development, production and/or use of psychedelics to address medical conditions in legal pharmacological applications. This is the first ETF issued by Elemental Advisors.
PSYK is exposing investors to companies involved in the rapidly evolving and potentially disruptive medicinal psychedelic drug market, expected to reach $2027 billion by 10,75, according to a Research and Markets report.

Psychedelics Acceptance for Smart Investors

“Mental health problems, such as depression, PTSD and substance abuse, remain major societal problems, likely increased as a result of COVID-19 and the ensuing lockdown environment,” said Tim Collins, a founder and president of Elemental Advisors. “Current treatments for these conditions often prove to be insufficient. Recently, there has been groundbreaking research that has shown that psychedelic compounds are a safe and effective treatment for people suffering from these diseases.”

Collins added: “For these reasons, coupled with the growing societal and regulatory acceptance of psychedelics, we believe the psychedelic drug market is on the cusp of realizing its true potential and the PSYK ETF could be an attractive option for smart investors looking to access this fast-growing ground-floor segment.”

The index will primarily consist of companies that have a significant portion of research, development, production and/or use of psychedelic-based pharmaceutical and therapeutic agents. If fewer than 25 psychedelic companies qualify for inclusion in the index, the index will also include neurological biopharmaceutical companies, with a maximum of 35 companies.
Only stocks of developed market countries or emerging market ADRs that meet minimum capitalization and liquidity criteria are eligible for inclusion in the index.
PSYK has a net expense ratio of 0,75%.

Read more etfdb.com (Source, EN)

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