The Treasury, explained

Q: I see that Janet Yellen is expected to become the next secretary of the Treasury. What does that job entail? — R.Y., online

A: If Yellen is confirmed by the Senate, she’ll be the first woman in the job since it was created in 1789. (Alexander Hamilton was the first secretary.)

Yellen will oversee the Department of the Treasury, which encompasses many bureaus and is charged with many tasks. These include collecting taxes; paying government bills; overseeing currency and coins; managing government accounts and the public debt; supervising national banks and thrifts; and advising on domestic and international financial, monetary, economic, trade and tax policy. Its bureaus include the Internal Revenue Service (IRS), the Bureau of Engraving and Printing (bills) and the U.S. Mint (coins), and the Financial Crimes Enforcement Network.

Q: Are cannabis-focused exchange-traded funds (ETFS) good investments? — B.V., Kailua, Hawaii

A: You should do your own research into the growing medical and recreational marijuana industries to see whether you think their futures look rosy or bleak.

If you end up bullish on cannabis-focused companies, then ETFS are a good option. Like mutual funds, each will distribute your investment across a bunch of companies in or related to the industry, such as marijuana cultivators, owners of dispensary real estate, retailers, growing equipment providers and more.

There are many such ETFS to choose from, though most are fairly new and small; see which ones best match your interests and charge the lowest fees. Here are a few (with some amusing ticker symbols): MG Alternative Harvest ETF (MJ), Cambria Cannabis ETF (TOKE), Global X Cannabis ETF (POTX) and Advisorshares Pure Cannabis ETF (YOLO).

Don’t put all your eggs in the cannabis basket, though — or any other single basket.