msos stock: AdvisorShares Pure US Cannabis ETF Guide

MSOS (AdvisorShares Pure US Cannabis ETF)

msos stock refers to the ticker for the AdvisorShares Pure US Cannabis ETF, an actively managed exchange-traded fund that provides concentrated exposure to U.S.-based cannabis and hemp-related companies. This article explains what msos stock is, how the fund operates, key holdings and metrics, risks specific to the cannabis sector and derivatives use, and practical investor information — updated to provide timely context for researchers and traders.

Why read this guide: within a single resource you will learn how msos stock is structured, how managers obtain exposure when direct equity holdings are constrained, what fees and risks to expect, and where to find up-to-date documents and trading support (including Bitget tools for market research and execution).

Fund summary

Short description

MSOS is the ticker for the AdvisorShares Pure US Cannabis ETF, an actively managed ETF that focuses on U.S. cannabis and ancillary businesses. The fund is listed on NYSE Arca and uses both equities and derivative instruments to gain targeted exposure to the U.S. cannabis market.

Key facts (snapshot)

• Ticker: MSOS (msos stock)
• Exchange: NYSE Arca
• Inception date: September 1, 2020
• Sponsor/Issuer: AdvisorShares
• Primary fund objective: Active thematic exposure to U.S. cannabis industry participants

As of Jan 20, 2026, according to AdvisorShares and publicly filed issuer documents, msos stock is described as an actively managed ETF that reports a net expense ratio in the range commonly cited by providers (the issuer has reported an expense ratio around 0.75% in recent filings) and assets under management that fluctuate with market moves and flows. Reporting across data providers can differ; investors should consult the fund prospectus and the issuer’s current fact sheet for the most recent NAV, assets under management (AUM), and expense ratio.

(Note: NAV and AUM for msos stock vary daily; the issuer’s website and SEC filings are the authoritative sources.)

Investment objective and strategy

MSOS’s stated objective is to provide investors with targeted exposure to the U.S. cannabis industry through an actively managed, thematic portfolio. The manager seeks to invest primarily in securities of U.S. companies that are involved in the legal cannabis and hemp sectors, including multi-state operators (MSOs in the industry sense), ancillary services, and other businesses benefiting from legalization trends.

Because direct ownership of certain U.S. cannabis stocks or cash exposure can be constrained by liquidity, regulatory, or trading limitations, msos stock may employ swaps, total return swaps, and other derivative contracts to synthetically obtain exposure to underlying equities or baskets. These instruments are commonly used to achieve the target thematic weighting while managing operational limitations tied to the sector.

Active management allows the portfolio team to make concentrated bets, adjust sector tilts, and respond to regulatory or company-specific developments. For msos stock, the manager emphasizes a U.S.-focused thematic approach, in contrast with global or Canada-focused cannabis ETFs.

Fund structure and mechanics

Active management and trading instruments

MSOS is actively managed rather than tracking a passive index. Daily portfolio adjustments and rebalancing are used to align exposure with the manager’s thematic view. The fund’s holdings reported in periodic disclosures typically include direct equity positions in U.S. cannabis companies and derivative positions such as swaps.

Derivative usage: msos stock commonly uses swaps and other derivative contracts to obtain or adjust exposure. When swaps are used, the fund posts cash or liquid securities as collateral; these collateral positions may appear as short-term treasury holdings or cash equivalents on periodic holdings reports. The use of derivatives introduces counterparty and collateral risks; more detail is provided in the Risk Factors section.

Share class, listings and ticker information

• Listing venue: NYSE Arca (U.S. exchange)
• Ticker symbol: MSOS (msos stock)
• Share class: single common share class for the ETF
• Options: Options availability depends on exchange listing and market makers; options may be available for msos stock on U.S. options exchanges if listed and sufficiently liquid

Trading and liquidity considerations for msos stock include typical ETF intraday spreads and the role of authorized participants (APs) and market makers in maintaining an efficient market for shares. Because the fund concentrates in a niche sector, intraday volume and liquidity can be more variable than for broad-market ETFs; this can affect bid/ask spreads and execution quality.

NAV, creation/redemption and custody

Net asset value (NAV): NAV for msos stock is calculated at the end of each trading day using the market value of the fund’s holdings, inclusive of derivative valuation models when applicable. NAV per share is reported by the issuer and reflected in official fund documents.

Creation and redemption: As with other ETFs, authorized participants create and redeem creation units in kind (or in cash, depending on the fund’s processes). This creation/redemption mechanism supports arbitrage that helps keep the market price of msos stock close to NAV, though spreads can widen during stressed market conditions.

Custody: The fund’s custodian is named in issuer materials and SEC filings. For example, BNY Mellon has been referenced in AdvisorShares’ materials as a custodian for certain funds, and investors should verify the current custodian in the latest prospectus for msos stock.

Holdings and portfolio composition

Typical composition

MSOS typically holds a concentrated portfolio of U.S.-focused cannabis equities, including multi-state operators and ancillary businesses such as distributors, cultivators, biotech companies working in cannabinoid-based products, and ancillary service providers.

Holdings reporting often shows a mix of directly held equities (examples that have appeared across reporting periods include Curaleaf, Trulieve, and Green Thumb, among others) and derivative positions (swaps) with cash or treasury collateral. The weightings shift with active management decisions and market moves.

Derivatives and collateral

A meaningful portion of msos stock’s effective exposure can be delivered via swaps and related collateral. Periodic holdings reports typically disclose collateral in cash and short-term treasuries used to support derivative positions. These structures can increase operational complexity and introduce counterparty and liquidity considerations not present in plain-vanilla equity ETFs.

Concentrations and turnover

Because msos stock is thematic and focused on a single industry within a single country, concentration risk is higher than in broad-market ETFs. Turnover can also be elevated as managers rebalance to reflect regulatory news, company events, or changes in the investment thesis.

Performance

Historical performance and volatility

MSOS has historically shown higher volatility than broad-market ETFs due to sector concentration, regulatory sensitivity, and leverage from derivative use in some periods. Performance has reflected major swings in the cannabis sector — rallies when regulatory developments or capital flows favored cannabis equities, and sharp declines during sector drawdowns.

As of Jan 20, 2026, data providers report that msos stock has experienced multi-period variability in returns, with one-year and year-to-date figures that differ significantly between bull and bear phases. Because performance is highly dependent on regulatory news and company fundamentals, investors should expect large short-term swings.

Benchmarking and comparisons

Comparisons to other cannabis ETFs or to broader equity benchmarks can be illustrative but must account for msos stock’s U.S.-only focus and active management style. Performance comparisons should normalize for expense ratios and differing use of derivatives.

Fees and expenses

Expense profile

MSOS charges a net expense ratio reported by the issuer and listed in the prospectus; public reporting in the industry has commonly placed the expense ratio near 0.75% in recent filings. Data providers may show slight discrepancies depending on whether they report gross vs. net figures or include fee waivers, so reported expense ratios can vary across sources and over time.

As of Jan 20, 2026, according to AdvisorShares’ documents and consolidated data providers, the msos stock expense ratio falls in a range consistent with actively managed thematic ETFs (roughly 0.7–1.0% depending on the reporting date and source). Always consult the latest prospectus for the exact net expense ratio applicable today.

Other costs

Investors also face trading costs (bid/ask spreads) and potential tax impacts (see Tax Considerations). Because the fund uses derivatives, there can be embedded costs associated with swaps, collateral management, and counterparty arrangements that are not captured solely by the headline expense ratio.

Risk factors

Industry and sector risk

Investing in msos stock concentrates exposure in the U.S. cannabis industry. Key sector-specific risks include:

• Regulatory uncertainty: U.S. cannabis regulation differs by state and at the federal level; changes in law, enforcement, or tax treatment can materially affect revenue and profitability for companies in the fund.
• Banking and finance limitations: Federal restrictions historically constrained banking access and capital availability for many cannabis firms, which affects cost of capital and scaling.
• Tax treatment: U.S. cannabis companies can face adverse tax rules (for example, Section 280E of the Internal Revenue Code historically limited deductions for businesses engaged in federally illegal drug trafficking), which impacts net margins.

Fund-specific risks

• Concentration risk: msos stock’s thematic, U.S.-focused approach increases exposure to single-sector shocks.
• Derivatives and swap risk: Use of swaps entails counterparty risk (the risk that a swap counterparty fails to meet obligations), valuation model risk, and the need to manage collateral. Collateral posted by the fund may be subject to rehypothecation or counterparties’ credit exposure terms described in the prospectus.
• Liquidity risk: Some underlying securities may trade thinly, and derivative markets tied to the sector can exhibit limited depth, potentially widening market spreads and impacting execution.

Regulatory and legal developments

Major federal actions (for example, reclassification, rescheduling, or legislation that materially changes the legal framework for cannabis) can produce rapid revaluation of msos stock holdings. Positive developments can lead to sharp rallies; conversely, negative rulings or enforcement actions can sharply depress valuations. Since msos stock’s mandate is tied to the U.S. cannabis theme, regulatory outcomes are a primary driver of fund performance.

Management and sponsor

AdvisorShares

AdvisorShares is the ETF sponsor for msos stock. The firm offers a range of actively managed ETFs across thematic and alternative strategies. The sponsor’s materials list portfolio managers and team members responsible for msos stock’s investment decisions.

Portfolio management

The portfolio manager associated with msos stock in issuer materials includes Dan Ahrens (named in prospectus-level documentation), who is referenced as a lead manager for the strategy. Manager experience and related roles are disclosed in the fund’s prospectus and on the issuer’s site; investors should review manager bios for background on industry experience and other funds overseen.

Tax considerations

ETF tax basics

MSOS is structured as an ETF, which typically provides tax efficiency benefits such as in-kind creation/redemption mechanics that can limit capital gains distributions. However, investors must still pay taxes on dividends and realize gains when selling shares.

Sector-specific tax implications

The underlying companies in msos stock’s portfolio may be subject to sector-specific tax disadvantages, notably the constraints historically imposed by IRC Section 280E for businesses engaged in the sale of federally illegal substances. This rule can limit deductible business expenses for affected companies, increasing effective tax burdens and reducing after-tax profitability. That effect flows through to fund valuations and returns.

Investors should consult a tax professional for personalized advice and consult the fund’s tax information provided annually by the issuer.

Trading and investor information

Practical trading details

• Average daily volume and liquidity: msos stock’s trading volume varies with market sentiment and news flow. The ETF can exhibit intraday spreads wider than large-cap ETFs during sector stress or after regulatory events.
• NAV vs. market price: As with all ETFs, shares can trade at premiums or discounts to NAV intraday; arbitrage via authorized participants helps align price and NAV but may be less effective under stress.
• Options: Depending on listing status and market maker support, options for msos stock may be available. Check the latest exchange listings or your broker’s instrument screen for option chains.

Where to find fund documents

Investors should consult the following for authoritative information about msos stock:

• AdvisorShares fund page and fact sheet
• Form N-1A prospectus and periodic SEC filings
• Quarterly and annual reports from the issuer
• Third-party data providers for performance, holdings, and analytics

To trade msos stock or monitor price action, investors can use Bitget’s trading platform and research tools. Bitget provides market data, order execution, charting, and a wallet solution (Bitget Wallet) for Web3 assets if investors use cross-asset strategies or crypto exposure alongside equity ETFs.

Related funds and products

AdvisorShares and other providers offer a range of cannabis and related thematic products. Examples referenced in issuer materials include a leveraged or daily reset variant tied to MSOS (often titled using a related ticker such as MSOX), as well as other sponsor funds that target thematic or cannabis-adjacent exposures.

Non-AdvisorShares cannabis ETFs exist as well and may have varying focuses (global vs. U.S., passive vs. active, or different derivatives usage). MSOS’s key differentiation is its U.S.-only cannabis focus and active management approach.

Market reception and commentary

Analyst and press coverage themes

Coverage of msos stock has typically clustered around these themes:

• Regulatory catalysts: Analysts and press routinely highlight federal and state-level policy developments as primary drivers of stock-level performance for MSOS’s holdings.
• Thematic risk/return: Commentators debate the trade-off between targeted upside from legalization tailwinds and downside from regulatory or operational shocks.
• Derivatives complexity: Financial press often notes the fund’s use of swaps and collateral, emphasizing that derivative use changes the risk profile compared to plain equity funds.

Notable news items that impacted msos stock in the past include market reactions to federal policy proposals and company-level earnings or financing events. Investors tracking msos stock should monitor regulatory calendars (state ballot measures, federal committee actions) as well as issuer filings.

Historical timeline

Key events since inception

• Sep 1, 2020 — Launch: MSOS is launched and begins trading on NYSE Arca, providing a U.S.-focused cannabis ETF option.
• 2020–2022 — Early flows and volatility: The fund saw flows tied to investor interest in legalization prospects and sector-specific volatility.
• 2022–2024 — Active reweightings: Manager adjustments and portfolio rebalances reflected changing valuations among U.S. multi-state operators and ancillary businesses.
• 2023–2025 — Regulatory news impacts: Periodic rallies and selloffs coincided with state legalization votes and federal legislative proposals; derivatives positioning and collateral reporting were highlighted in periodic holdings releases.

Investors should consult the issuer’s historical holdings reports and SEC filings for precisely dated fund events, reconstitutions, and material changes.

References and external links

Primary sources and data providers used for this article include:

• AdvisorShares fund page and prospectus documents (issuer materials)
• U.S. Securities and Exchange Commission (SEC) filings (Form N-1A and periodic reports)
• Major data aggregators and market data providers (Morningstar, Nasdaq data feeds, MarketWatch, StockAnalysis)
• Press coverage from financial news outlets reporting on cannabis sector developments

As of Jan 20, 2026, according to AdvisorShares and public filings, fund structural details and expense information were summarized in this guide. Readers should verify the latest NAV, AUM, and expense ratio directly in the issuer’s most recent documents.

See also

• Other U.S. cannabis companies commonly referenced in fund holdings: Curaleaf, Trulieve, Green Thumb (company profiles and filings)
• Related ETF topics: thematic ETFs, leveraged daily ETFs, active ETF management
• Regulatory overviews: state cannabis legalization, federal tax treatment, and banking rules affecting the cannabis industry

Notes on sources and scope

This article is based on documented ETF information from AdvisorShares and major financial data providers and news outlets. MSOS is an equity ETF (not a cryptocurrency or token). Some numeric metrics (NAV, AUM, expense ratio) vary across sources and over time; readers should consult the fund’s prospectus and the issuer’s website for the most recent figures.

All statements in this guide are factual summaries intended for educational purposes and are not investment advice. For personalized guidance, consult a licensed financial or tax professional.

Practical next steps and where to research or trade msos stock

• Review the latest fund prospectus and fact sheet from AdvisorShares for up-to-date figures on NAV, AUM, and expense ratio.
• Monitor regulatory calendars and major state ballots that may affect the cannabis sector.
• Use Bitget’s research tools and trading platform to follow intraday quotes, historical charts, and order book depth for msos stock; consider option chains where available to analyze derivatives strategies.
• Keep a watch on periodic holdings reports to understand the fund’s mix of equities, swap positions, and cash/treasury collateral.

Further exploration: explore Bitget’s market data panels and the Bitget Wallet for cross-asset research and safe custody of digital assets if you use crypto alongside equity strategies.

Thank you for reading this msos stock guide. For the most current fund figures and documents, consult AdvisorShares’ filings and the fund’s official materials, and use Bitget tools to monitor live market data and execute trades.