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MSOS AdvisorShares Pure US Cannabis ETF

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$4.33
−3.6% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Over the year to Nov 4, 2026, MSOS returned 3.6%.

Why did MSOS return −82.2% from Sep 2020 to Oct 2026, against VOO’s +147.3%?What does MSOS hold that the S&P 500 does not?What do MSOS’s net flows of +$927m over the 3 years to Jun 30, 2026 mean?
Holds 6 stocks in cannabis, 0% of its weight in S&P 500 companiesAdvisorShares ↗Expense ratio 0.75%Fund assets $807m on Nov 4, 2026First traded Sep 2, 2020Benchmark Its own holdings, as of Jun 30, 2026; its shareholder report compares it with the S&P 500 Index, but its daily returns fit VOO's at R-squared 0.0231 over the year to Nov 4, 2026 (251 days), under the 0.35 it needs to return to itFund page at the issuer ↗SEC filings ↗Every AdvisorShares fund ETFIQ covers

Promise check: Not measuredETFIQ has not yet listed which companies belong to the cannabis theme.

Compare with…Trading costsPut to the committeeaskIQ about MSOSAdd to portfolioOverlapFlowsAlerts

MSOS risk and return scorecard

vs VOO, its stated benchmark (secondary) · Sep 2020 to Oct 2026 · 320 weekly returns · dividend-adjusted

6.1 years
MSOS −82.2%, VOO +147.3%, Sep 2020 to Oct 2026, distributions reinvested.

Secondary: VOO tracks the S&P 500 Index, named in its shareholder report. Its own benchmark is its holdings, which have no weekly prices.

Return
MeasureMSOSVOOEdge
Total return−82.2%+147.3%VOO
Annualized−24.5%+15.8%VOO
Price return−82.3%+126.3%VOO
Risk
MeasureMSOSVOOEdge
Volatility65.4%15.8%VOO
Max drawdown−95.9%−23.9%VOO
Upside capture47.9%100.0%VOO
Downside capture130.2%100.0%VOO
Risk-adjusted
MeasureMSOSVOOEdge
Sharpe ratio−0.160.81VOO
Sortino ratio−0.251.23VOO
Alpha vs VOO
MeasureMSOSVOOEdge
Alpha, a year−26.7%Not significant
Alpha t-stat−1.06
Beta to VOO1.261.00Higher beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jun 30, 2026
12 months to Jun 30, 2026
+$352m
3 years to Jun 30, 2026
+$927m
5 years to Jun 30, 2026
+$1.9bn
askIQ: what do these flows mean? ↗

What you earned

MSOS −1.4%: total return over one month to Nov 4, 2026.
MSOS−1.4%
MSOS +7.2%: total return over three months to Nov 4, 2026.
MSOS+7.2%
MSOS −17.8%: total return over six months to Nov 4, 2026.
MSOS−17.8%
MSOS −8.3%: total return over the year to Nov 4, 2026.
MSOS−8.3%
MSOS +3.6%: total return over one year to Nov 4, 2026.
MSOS+3.6%
MSOS −26.4%: total return over three years to Nov 4, 2026.
MSOS−26.4%
MSOS −84.6%: total return over five years to Nov 4, 2026.
MSOS−84.6%
MSOS −82.4%: total return since launch to Nov 4, 2026.
MSOS−82.4%
askIQ: what drove MSOS’s returns? ↗

What did you actually buy?

Cannabis · holdings as of Jun 30, 2026
0.0%
Already in the S&P 500
Report
100.0%
Active share vs the S&P 500
Report
25.8%
Top ten holdings
Report
+3.6%
Total return, 1 year
Report
$0.07
Last payment, ex-date Dec 23, 2021
Report
Share already in the S&P 500
0.0% of the fund by weight, holdings as of Jun 30, 2026.
Ten largest holdings
CURALEAF HOLDINGS INC12.3%
TRULIEVE CANNABIS CORP9.6%
TERRASCEND CORP2.7%
GLASS HOUSE BRANDS INC0.9%
VILLAGE FARMS INTERNATIONAL INC0.3%
FLUENT CORP0.0%
askIQ: what does MSOS hold that the S&P 500 does not? ↗

More on MSOS

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Price, 1 year

$4.33−3.6%1 day, priceClose, Nov 4, 2026

Price only. No distribution was paid over these days, so total return is the same. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Nov 4, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

MSOS returns by window: total return, cash paid and price change
WindowTotal returnS&P 500 (SPY)
1M Oct 5 – Nov 4, 2026−1.4%−1.0%
3M Aug 5 – Nov 4, 2026+7.2%−0.1%
6M May 6 – Nov 4, 2026−17.8%+5.0%
YTD Dec 31, 2025 – Nov 4, 2026−8.3%+13.3%
1Y Nov 4, 2025 – Nov 4, 2026+3.6%+14.8%
3Y Nov 3, 2023 – Nov 4, 2026−26.4%+82.9%
5Y Nov 5, 2021 – Nov 4, 2026−84.6%+75.0%
Since launch Sep 2, 2020 – Nov 4, 2026−82.4%+133.4%
Since launch, annualised Sep 2, 2020 – Nov 4, 2026−24.5%–

Total returns, distributions reinvested.

Source: Tiingo end-of-day prices, with distributions reinvested.

Money in and out

Monthly data · as of Jun 30, 2026

MSOS: in the month to Jun 30, 2026, nothing net moved, by its SEC filing.

12 months
+$352m
111.7% of $315m on Jun 30, 2025
Jul 1, 2025 to Jun 30, 2026
monthly, from SEC filings
3 years
+$927m
268.3% of $345m on Jun 30, 2023
Jul 1, 2023 to Jun 30, 2026
monthly, from SEC filings
5 years
+$1.9bn
197.6% of $951m on Jun 30, 2021
Jul 1, 2021 to Jun 30, 2026
monthly, from SEC filings
Since Jul 2020
+$2.9bn
Jul 1, 2020 to Jun 30, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions MSOS files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jun 2026. Every day and month ETFIQ holds for MSOS, back to Jul 2020, is in its flows file. Flows across every fund · How these flows are computed · Compare MSOS with other funds in the flows tool

Month by month, money in and money outJul 2023 to Jun 2026

MSOS, money in and money out each month from Jul 2023 to Jun 2026: two bars a month, money in above the line and money out below. Every bar is from MSOS’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 28 and went out in 4.

Every bar is from MSOS’s SEC filings (N-PORT item B.6). Of the 36 months listed, money came in on net in 28 and went out in 4.

MonthInOutNet
Jun 2026 SEC Form N-PORT$0$0$0
May 2026 SEC Form N-PORT+$5.8m−$17.8m−$12.0m
Apr 2026 SEC Form N-PORT+$22.9m$0+$22.9m
Mar 2026 SEC Form N-PORT+$13.3m$0+$13.3m
Feb 2026 SEC Form N-PORT+$14.3m$0+$14.3m
Jan 2026 SEC Form N-PORT$0$0$0
Dec 2025 SEC Form N-PORT+$95.2m−$16.4m+$78.7m
Nov 2025 SEC Form N-PORT+$1.6m−$12.2m−$10.6m
Oct 2025 SEC Form N-PORT+$28.4m$0+$28.4m
Sep 2025 SEC Form N-PORT+$27.7m$0+$27.7m
Aug 2025 SEC Form N-PORT+$159m$0+$159m
Jul 2025 SEC Form N-PORT+$29.4m$0+$29.4m
Jun 2025 SEC Form N-PORT$0$0$0
May 2025 SEC Form N-PORT$0$0$0
Apr 2025 SEC Form N-PORT$0−$4.4m−$4.4m
Mar 2025 SEC Form N-PORT$0−$7.5m−$7.5m
Feb 2025 SEC Form N-PORT+$21.3m$0+$21.3m
Jan 2025 SEC Form N-PORT+$1.0m$0+$1.0m
Dec 2024 SEC Form N-PORT+$2.5m$0+$2.5m
Nov 2024 SEC Form N-PORT+$3.2m−$811k+$2.4m
Oct 2024 SEC Form N-PORT+$33.6m$0+$33.6m
Sep 2024 SEC Form N-PORT+$6.6m$0+$6.6m
Aug 2024 SEC Form N-PORT+$5.4m−$3.1m+$2.4m
Jul 2024 SEC Form N-PORT+$20.8m−$3.3m+$17.5m
Jun 2024 SEC Form N-PORT+$15.1m$0+$15.1m
May 2024 SEC Form N-PORT+$36.8m$0+$36.8m
Apr 2024 SEC Form N-PORT+$62.1m$0+$62.1m
Mar 2024 SEC Form N-PORT+$23.1m$0+$23.1m
Feb 2024 SEC Form N-PORT+$120m$0+$120m
Jan 2024 SEC Form N-PORT+$69.3m$0+$69.3m
Dec 2023 SEC Form N-PORT+$40.4m−$6.5m+$33.9m
Nov 2023 SEC Form N-PORT+$3.8m−$1.3m+$2.5m
Oct 2023 SEC Form N-PORT+$61.7m−$2.4m+$59.3m
Sep 2023 SEC Form N-PORT+$51.2m$0+$51.2m
Aug 2023 SEC Form N-PORT+$16.0m$0+$16.0m
Jul 2023 SEC Form N-PORT+$11.4m−$514k+$10.9m

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jun 30, 2026. Updated when the fund files its next report.

MSOS key stats

52-week high, daily closes to Nov 4, 2026 (ETFIQ)$6.69 on Dec 17, 2025
52-week low, daily closes to Nov 4, 2026 (ETFIQ)$2.99 on Nov 19, 2025
Close on Nov 4, 2026, within that range (ETFIQ)$4.33, 36% of the way from the low to the high
Holdings6
Top ten holdings weight25.8%
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Nov 4, 2026
Trading · MSOSas of Nov 4, 2026
·
Not scored3 of 6 measured · Nov 4, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
$1,000$1.220.12%
$10,000$120.12%
$100,000 · estimate$6,2916.29%
Premium or discount to NAV, Nov 3 close+0.22%
−1%95% of days within ±0.78%+1%
How to tradeLimit: midpoint + 1¢ to buy, midpoint − 1¢ to sell.At the Nov 3 close of $4.49, that’s $4.50 to buy and $4.48 to sell.
Full trading page: components, premium history, dealers →

MSOS for holders outside the US

US tax withheld on dividends, no treaty30%
Treaty rates on dividends (IRS table, read Oct 30, 2026)65 countries, 10% to 30%
MSOS interest-related and short-term gain dividendsnot read by ETFIQ
US estate tax filing threshold, non-resident holders$60,000
Share classDistributing

MSOS is a US fund. Stock of US corporations counts as US property for a non-resident's estate. Facts from the IRS, not tax advice. How withholding and treaties work
Download all holdings

MSOS top ten by weight, 25.8% of the fund, of its 6 equity positions, from the holdings filed for Jun 30, 2026. Source: the fund’s SEC filing.

CURALEAF HOLDINGS INC CURLD 12.32%
TRULIEVE CANNABIS CORP TRLV 9.56%
TERRASCEND CORP TSNDF 2.70%
GLASS HOUSE BRANDS INC GLAS 0.93%
VILLAGE FARMS INTERNATIONAL INC VFF 0.31%
FLUENT CORP CNTMF 0.01%
Fund filings on SEC EDGAR ↗See all 6 holdings →Check overlap with another fund →

Source: Holdings filing (SEC Form N-PORT).

About MSOS

Theme (ETFIQ, editorial)Cannabis
First tradedSep 2, 2020
Already in the S&P 500, by weight (ETFIQ)0.0%
Outside the S&P 500, by weight (ETFIQ)100%
Active share vs the S&P 500 (ETFIQ)100.0%
Already in the Nasdaq-100, by weight (ETFIQ)0.0%
Active share vs the Nasdaq-100 (ETFIQ)100.0%
Top ten holdings weight25.8%
Holdings6
Holdings as of (SEC N-PORT)Jun 30, 2026
Top holdingsCURALEAF HOLDINGS INC 12.3%, TRULIEVE CANNABIS CORP 9.6%, TERRASCEND CORP 2.7%, GLASS HOUSE BRANDS INC 0.9%, VILLAGE FARMS INTERNATIONAL INC 0.3%, FLUENT CORP 0.0%
Net assets (issuer page, as of Nov 4, 2026)$807mReport
Benchmark (ETFIQ, from its filings)Its own holdings, as of Jun 30, 2026; its shareholder report compares it with the S&P 500 Index, but its daily returns fit VOO's at R-squared 0.0231 over the year to Nov 4, 2026 (251 days), under the 0.35 it needs to return to it
Stated benchmark (secondary)S&P 500 Index (from its shareholder report), priced by VOO
MSOS, 1 year to Nov 4, 2026 (secondary)+3.6%
VOO, the same days (secondary)+14.8%
Against its stated benchmark, 1 year (secondary)−11.2 pts
Daily R-squared against VOO, 1 year to Nov 4, 2026 (secondary)0.02
Below its all-time high (ETFIQ)−92.1%
Expense ratio (485BPOS XBRL, Oct 28, 2026)0.75%Report
Fee for the part that differs from the S&P 500, active expense ratio (ETFIQ)0.75%
Closest funds by holdings overlapYOLO 26%, WEED 12%
Below its all-time high92.1%, high on Feb 10, 2021
How we measure
The top ten holdings are 26% of the fund across 6 positions, as filed for Jun 30, 2026. Over the year to Nov 4, 2026 the fund returned +3.6% with distributions reinvested. It sits 92.1% below its all-time high of Feb 10, 2021.
Holdings from the fund’s latest public SEC N-PORT filing; overlap and active share computed by ETFIQ against the IVV and QQQM books; returns from Tiingo end-of-day prices with distributions reinvested. Method
IQ Investment Committee on MSOS

12 seats on MSOS, as of Nov 4, 2026: 1 Supports, 1 Mixed, 7 Challenges, 2 Not enough data, 1 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyDoes not apply
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityChallenges
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianNot enough data
In the tradition ofRay DalioDalio-style All-WeatherChallenges
In the tradition ofHoward MarksMarks-style Cycles & RiskSupports
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityChallenges
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationChallenges
In the tradition ofJesse LivermoreLivermore-style Trend FollowingChallenges
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatMixed
Put MSOS to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about MSOS

How much of MSOS is in S&P 500 companies?
By its holdings filed for Jun 30, 2026, 0% of MSOS by weight is stocks the S&P 500 already holds. Its active share against the index is 100%, so that share is the part doing something different.
What does MSOS hold?
6 positions as filed for Jun 30, 2026, with the top ten at 26% of the fund. The largest are CURALEAF HOLDINGS INC at 12.3%, TRULIEVE CANNABIS CORP at 9.6%, TERRASCEND CORP at 2.7%.
Has MSOS beaten the S&P 500?
Over the year to Nov 4, 2026 MSOS returned +3.6% with distributions reinvested, against +14.8% for the S&P 500, so it finished behind the index by 11.2 points.
What does MSOS cost?
The prospectus expense ratio is 0.75% a year. Because 100% of the fund differs from the S&P 500, the fee on that differing part works out at 0.75%.
Sources and dates
Prices, MSOS and S&P 500 (SPY)Tiingo end-of-day · Nov 4, 2026
Fee, 0.75%Prospectus filing with the expense ratio (SEC) ↗
Net assets, $807mIssuer page · Nov 4, 2026
HoldingsHoldings filing (SEC Form N-PORT) · Jun 30, 2026 ↗
IssuerAdvisorShares page for MSOS ↗
All fund filingsFund filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, MSOS, thematic ETFs, data as of Nov 4, 2026. https://etfiq.com/funds/msos

The difference bar for MSOS, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Active share
How differently the money is placed, counting weights: one minus the sum of the smaller weight of each security across the fund and the index. 100% means nothing in common; 0% means the index itself. Two funds can hold the same names and still have a high active share if they weight them very differently.
Weight overlap
The share of money two portfolios hold in the same securities at the same weight.
Already in the index
The fund’s weight in securities the S&P 500 holds at all. A fund can be made entirely of index names and still have high active share, because it holds them at different weights.
Top ten
The weight of the ten largest holdings. Above 50% the fund is a bet on a handful of companies, whatever the theme.
Full definitions: thematic ETFs vocabulary page. →
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MSOS: MSOS holds 6 positions, 26% of its net assets. Holdings as of Jun 30, 2026.
<figure style="margin:0;max-width:640px">
<iframe src="https://etfiq.com/embed/themes/msos/" title="MSOS: MSOS holds 6 positions, 26% of its net assets. Holdings as of Jun 30, 2026." width="640" height="346" loading="lazy" style="border:0;max-width:100%;width:100%"></iframe>
<figcaption style="font:13px/1.5 sans-serif">MSOS: MSOS holds 6 positions, 26% of its net assets. Holdings as of Jun 30, 2026. Data: <a href="https://etfiq.com/funds/msos">ETFIQ</a></figcaption>
</figure>

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Snapshot, Nov 4, 2026. More on the tabs above.