The Last Cannabis ETFs Worth Your Money: Why Most Failed and 3 Are Still Trading

"The AdvisorShares Pure US Cannabis ETF (MSOS) was the first US-listed ETF built specifically around plant-touching American multi-state operators. Because federal law prevents most US-listed funds from directly holding MSO equities, AdvisorShares uses total return swaps to gain synthetic exposure to the underlying operators."

"The portfolio concentrates on the large US MSOs, with Curaleaf Holdings as the top non-governmental holding. The sector composition reflects how MSO balance sheets are reported, with Real Estate at roughly 50%, Industrials at 29%, Consumer Cyclical at 17%, and Healthcare at roughly 2%."

"Shares changed hands near $5 on April 22, after a 19% single-session move and a 33% gain over the trailing month. Reddit mention volume on the ticker has been low, but the ticker carried a sentiment score of 88 in the first quarter of 2026."

Cannabis ETFs entered 2026 with a reduced lineup due to multiple fund closures and stalled federal reform. The remaining options, MSOS, YOLO, and CNBS, have experienced severe long-term losses but rebounded sharply over the past year. Over five years, MSOS is down 87%, YOLO is down 82%, and CNBS is down 86%. In contrast, the one-year performance shows MSOS up 111%, YOLO up 98%, and CNBS up 90%. MSOS uses synthetic exposure to US multi-state operators, focusing on large MSOs like Curaleaf Holdings.

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