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MSOS

GradeCNew York Stock Exchange Arca

AdvisorShares Pure US Cannabis ETF

Themes · AdvisorShares · Inception 2020-09-01 · SEC filings

$5.41+0.08 (+1.50%)

As of Sep 23, 2026, 2:15 PM EDT

Intraday session: up, 58 prints from 5.33 to 5.41. Range 5.28 to 5.42. Use the arrow keys to read each point.$5.30$5.3510 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$967M
1Y return
+21.4%
Yield · Last 12 months
0.00%
Holdings
28
Volume · 30D
5.6M sh
NAV per share
$4.91
52W range
low $2.96high $7.25

The ETF.net MSOS Grade

C

52/ 100

Rank 2 of 5 in Cannabis⁠

Confidence Medium

Six-pillar profile for MSOS. Scores out of 100: Cost 56, Risk 35, Mission 43, Tradability 69, Holdings 43, Durability 56. Strongest: Tradability (69). Weakest: Risk (35). Leans toward Tradability.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 56
    Category rank2/5 · top 40%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    CScore 43
    Category rank1/1 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 35
    Category rank4/5 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 69
    Category rank1/5 · top 20%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 43
    Category rank2/4 · top 50%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 56
    Category rank3/5 · mid-pack

Graded as of Sep 22, 2026

Our read on MSOS

ETF.net Research

CMost cannabis ETFs are really Canadian grower funds. MSOS flips that: an actively managed, US-only book of plant-touching operators, using derivatives where owning the shares outright gets awkward.

Stated mandate

The Fund seeks long-term capital appreciation. It is actively managed and normally invests at least 80% of net assets plus investment borrowings in securities of U.S. marijuana and hemp companies meeting the stated revenue test, and in similar derivatives.

Why people hold it

  1. 01Built for American operators: at least 80% of assets go to US marijuana and hemp companies meeting a revenue test, plus derivatives tied to them.advisorshares.comadvisorshares.com
  2. 02Among the most heavily traded funds on the cannabis shelf, which usually shows up as easier fills and tighter spreads.
  3. 03Charges 0.81%, below the typical cannabis ETF, which is unusual for a fund with a live manager rather than an index rulebook.
  4. 04Running since 2020 and sitting in the upper half of its cannabis peer group, with a manager free to move as the state-by-state map changes.

Worth knowing

  1. 01A couple dozen holdings in one federally unresolved industry. Single headlines and single stocks move this fund hard in both directions.
  2. 02No regular distributions. The stated goal is long-term capital appreciation, so everything rides on share price.
  3. 03Cheaper cannabis funds exist (WEED undercuts it on fee), and derivative-based exposure carries counterparty considerations a plain stock portfolio does not.

MSOS Holdings

As of Sep 20, 2026, 6:06 AM
Asset class
Stocks
Holdings
28
Top-10 weight
92%
Largest holding
TRLV18.6%

Sectors

  • Real Estate50.2%
  • Industrials29.6%
  • Consumer Discr.17.8%
  • Health Care2.4%

Geography

  • United States91.02%
  • Canada8.98%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TRLVTRULIEVE CANNABIS CORP18.63%25,995,823$288M5
002CURLFCURALEAF HOLDINGS INC17.96%26,503,090$277M3
003—DERIVATIVES COLLATERAL NOMURA16.55%255,721,819$256M2
004GTBIFGREEN THUMB INDUSTRIES SWAP10.44%22,104,404$161M1
005—DERIVATIVES COLLATERAL NBC8.77%135,568,075$136M1
006—DERIVATIVES COLLATERAL MAREX4.63%71,493,054$71M2
007—DERIVATIVES COLLATERAL CF SECURED3.89%60,052,978$60M2
008GLASFGLASS HOUSE BRANDS INC3.80%7,356,963$59M2
009VRNOVERANO HOLDINGS CORP SWAP3.62%9,284,576$56M1
010—BLACKROCK TREASURY TRUST INSTL 623.38%52,167,822$52M9
011TRSSFTERRASCEND CORP2.62%61,855,410$40M2
012CRLBFCRESCO LABS INC-SUBORDIN2.54%52,410,781$39M1
013JUSHJUSH HOLDINGS INC SWAP1.43%34,574,982$22M1
014VREOFVIREO GROWTH INC COM SWAP0.88%1,185,399$14M2
015VFFVILLAGE FARMS INTERNATIONAL0.23%1,252,859$4M9

Showing 1–15 of 22 holdings

MSOS Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MSOS$12,141
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MSOS $12,141. SPY $11,723. Use the arrow keys to read each point.$6,137$11,025$15,913Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MSOS. Periods over one year show the average yearly return.
PeriodMSOS
Year to date+12.9%
1 month+7.5%
3 months+13.9%
1 year+21.4%
3 years−12.8%per year
5 years−29.9%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MSOS
YearReturn barMSOS
2026 YTD+12.9%
2025+23.9%
2024−45.6%
2023+0.3%
2022−72.7%
2021−29.7%
2020+48.0%

History from Sep 2, 2020

MSOS in the news

MSOS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2021

One bar per payment. 1 payment in 2021. Dec 23, 2021 $0.07. Use the arrow keys to read each point.2021
Ex-datePay dateAmount per share
Dec 23, 2021Dec 31, 2021$0.07

MSOS Risk

How much the fund’s monthly returns vary, scaled to a year.
86.5%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.18
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−93.7%
Trough Jun 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.86
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MSOS Cost

Expense ratio0.81%
  • The middle half of Cannabis funds
  • Median 0.91%

1 of the 5 Cannabis funds charge less.

MSOS costs $81.00 a year on $10,000. The median Cannabis fund costs $91.00.