MJ vs. WEED

Last updated Apr 1, 2026

Compare and contrast key facts about ETFMG Alternative Harvest ETF (MJ) and Roundhill Cannabis ETF (WEED).

MJ and WEED are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MJ is a passively managed fund by ETFMG that tracks the performance of the Prime Alternative Harvest Index. It was launched on Dec 2, 2015. WEED is an actively managed fund by Roundhill. It was launched on Apr 19, 2022.

Performance

MJ vs. WEED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETFMG Alternative Harvest ETF (MJ) and Roundhill Cannabis ETF (WEED). The values are adjusted to include any dividend payments, if applicable.

MJ vs. WEED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MJ ETFMG Alternative Harvest ETF	-22.73%	13.07%	-23.97%	-24.18%	-51.92%
WEED Roundhill Cannabis ETF	-23.72%	19.40%	-44.93%	0.87%	-60.22%

Returns By Period

The year-to-date returns for both stocks are quite close, with MJ having a -22.73% return and WEED slightly lower at -23.72%.

MJ

• 1D: 9.36%
• 1M: -11.33%
• YTD: -22.73%
• 6M: -37.17%
• 1Y: 20.44%
• 3Y*: -15.21%
• 5Y*: -37.72%
• 10Y*: —

WEED

• 1D: 12.68%
• 1M: -7.71%
• YTD: -23.72%
• 6M: -26.88%
• 1Y: 37.27%
• 3Y*: -13.04%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MJ vs. WEED - Expense Ratio Comparison

MJ has a 0.75% expense ratio, which is higher than WEED's 0.40% expense ratio.

MJ

ETFMG Alternative Harvest ETF

WEED

Roundhill Cannabis ETF

Return for Risk

MJ vs. WEED — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MJ

MJ Risk / Return Rank: 27
MJ Sharpe Ratio Rank: 19
MJ Sortino Ratio Rank: 44
MJ Omega Ratio Rank: 33
MJ Calmar Ratio Rank: 21
MJ Martin Ratio Rank: 18

WEED

WEED Risk / Return Rank: 33
WEED Sharpe Ratio Rank: 21
WEED Sortino Ratio Rank: 55
WEED Omega Ratio Rank: 42
WEED Calmar Ratio Rank: 27
WEED Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MJ vs. WEED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETFMG Alternative Harvest ETF (MJ) and Roundhill Cannabis ETF (WEED). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	MJ	WEED	Difference
Sharpe ratio Return per unit of total volatility	0.24	0.34	-0.10
Sortino ratio Return per unit of downside risk	1.16	1.46	-0.30
Omega ratio Gain probability vs. loss probability	1.13	1.17	-0.04
Calmar ratio Return relative to maximum drawdown	0.38	0.65	-0.27
Martin ratio Return relative to average drawdown	0.81	1.28	-0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MJ vs. WEED - Sharpe Ratio Comparison

The current MJ Sharpe Ratio is 0.24, which is comparable to the WEED Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of MJ and WEED, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MJ	WEED	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	0.34	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	-0.41	-0.10

Correlation

The correlation between MJ and WEED is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MJ vs. WEED - Dividend Comparison

MJ's dividend yield for the trailing twelve months is around 2.57%, while WEED has not paid dividends to shareholders.

	TTM	2025	2024
MJ ETFMG Alternative Harvest ETF	2.57%	1.98%	13.80%
WEED Roundhill Cannabis ETF	0.00%	0.00%	0.00%

Drawdowns

MJ vs. WEED - Drawdown Comparison

The maximum MJ drawdown since its inception was -96.55%, which is greater than WEED's maximum drawdown of -88.07%. Use the drawdown chart below to compare losses from any high point for MJ and WEED.

Drawdown Indicators

	MJ	WEED	Difference
Max Drawdown Largest peak-to-trough decline	-96.55%	-88.07%	-8.48%
Max Drawdown (1Y) Largest decline over 1 year	-48.66%	-54.01%	+5.35%
Max Drawdown (5Y) Largest decline over 5 years	-93.52%	—	—
Current Drawdown Current decline from peak	-95.01%	-79.88%	-15.13%
Average Drawdown Average peak-to-trough decline	-68.66%	-62.26%	-6.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.07%	27.38%	-4.31%

Volatility

MJ vs. WEED - Volatility Comparison

The current volatility for ETFMG Alternative Harvest ETF (MJ) is 18.42%, while Roundhill Cannabis ETF (WEED) has a volatility of 22.82%. This indicates that MJ experiences smaller price fluctuations and is considered to be less risky than WEED based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MJ	WEED	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.42%	22.82%	-4.40%
Volatility (6M) Calculated over the trailing 6-month period	59.20%	79.66%	-20.46%
Volatility (1Y) Calculated over the trailing 1-year period	84.94%	109.98%	-25.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.89%	81.88%	-22.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.44%	81.88%	-26.44%