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

Cannabis ETFs entered 2026 aft aggregate money closures, stalled national reform, and a prolonged multi‑year drawdown successful underlying equities. The contraction of the merchandise lineup has near a smaller radical of actively managed, pure‑play vehicles. Three U.S.-listed ETFs, MSOS, YOLO, and CNBS, stay the superior diversified options, each showing terrible long‑term losses but a crisp rebound implicit the past year.

The five-year representation is accordant crossed the group. MSOS is down 87% implicit 5 years, YOLO is down 82%, and CNBS is down 86%. The one-year representation reverses that: MSOS is up 111%, YOLO is up 98%, and CNBS is up 90%. The 3 products disagree successful however they conception that exposure, and the differences substance much present that the assemblage has consolidated astir a shorter database of operators.

The AdvisorShares Pure US Cannabis ETF (NYSEARCA:MSOS) was the archetypal US-listed ETF built specifically astir plant-touching American multi-state operators. Because national instrumentality prevents astir US-listed funds from straight holding MSO equities, AdvisorShares uses full instrumentality swaps to summation synthetic vulnerability to the underlying operators. The structural workaround is the product's full point: it is the closest a US-listed ETF comes to a handbasket of home cannabis retailers and cultivators.

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The portfolio concentrates connected the ample US MSOs, with Curaleaf Holdings arsenic the apical non-governmental holding. The assemblage creation reflects however MSO equilibrium sheets are reported, with Real Estate astatine astir 50%, Industrials astatine 29%, Consumer Cyclical astatine 17%, and Healthcare astatine astir 2%. That breakdown follows from the firm structures of the underlying operators alternatively than a deliberate assemblage tilt.