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Launched · SEC filings

AdvisorShares Pure US Cannabis ETF

MSOSNYSE ArcaC

$4.10−0.10 (−2.38%)

At close: Oct 13, 2026, 4:00 PM

C54/ 100

Rank 2 of 5 in Cannabis

C54/100Rank 2 of 5inCannabis
Intraday session: down, 79 prints from 4.20 to 4.10. Range 4.10 to 4.24. Use the arrow keys to read each point.4.134.154.174.2210 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$798M
1Y total return
−15.7%
Yield · Last 12 months
0.00%
Holdings
21
Avg volume · 30D
5.5M sh
NAV per share
$4.23
52W range
low $2.96high $7.25
Launched
Filings
SEC EDGAR

The ETF.net MSOS Grade

C

Score 54 out of 100

Category
Cannabis⁠
Rank
2 of 5
Six-pillar profile for MSOS. Scores out of 100: Cost 56, Risk 34, Mission 42, Tradability 69, Holdings 53, Durability 56. Strongest: Tradability (69). Weakest: Risk (34). Leans toward Tradability.

Score 54 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B56 out of 100
    Rank 2 of 5

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    C42 out of 100
    Not ranked

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D34 out of 100
    Rank 5 of 5

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B69 out of 100
    Rank 1 of 5

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C53 out of 100
    Rank 2 of 4

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B56 out of 100
    Rank 3 of 5

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 Oct 13, 2026
Asset class
Stocks
Holdings
21
Top-10 weight
95%
Largest holding
TRLV19.8%

Sectors

  • Health Care93.6%
  • Materials3.8%
  • Industrials2.2%
  • Consumer Staples0.4%

Geography

  • United States92.42%
  • Canada7.58%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001TRLVTrulieve Cannabis Corp19.76%25,548,842$265M9
002—Derivatives Collateral Nomura19.20%258,001,819$258M2
003CURLFCuraleaf Holdings Inc17.75%25,776,544$238M3
004—Derivatives Collateral Nbc10.15%136,411,331$136M1
005GTBIFGreen Thumb Industries Swap10.11%20,607,794$136M1
006—Derivatives Collateral Marex5.33%71,657,388$72M2
007—Derivatives Collateral Cf Secured4.48%60,191,016$60M2
008VRNOVerano Holdings Corp Swap3.39%9,086,469$46M1
009CRLBFCresco Labs Inc-Subordin2.43%51,069,657$33M1
010GLASFGlass House Brands Inc2.24%7,370,643$30M2
011TRSSFTerrascend Corp2.14%59,926,381$29M2
012JUSHJush Holdings Inc Swap1.22%34,227,515$16M1
013VREOFVireo Growth Inc Com Swap0.87%1,275,192$12M1
014VFFVillage Farms International0.26%1,345,491$4M9
015AAWHAscend Wellness Holdings Swap Rec0.26%7,702,752$3M1

Showing 1–15 of 21 holdings

MSOS Performance

Launched Sep 1, 2020

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

Not enough history yet.
MSOS$8,434
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. MSOS $8,434. SPY $12,044. Use the arrow keys to read each point.$5,606$9,072$12,537Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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−11.0%
1 month−11.6%
3 months−6.5%
1 year−15.7%
3 yearsper year−15.4%
5 yearsper year−32.4%
10 yearsFund is under 10 years oldper 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−11.0%
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 Oct 12, 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.
86.2%
Annualised · 36 months to Sep 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.
0.08
vs 3-month T-bills · to Sep 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.
−93.6%
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.

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