MSOS vs. MSOX

Last updated Aug 2, 2026

MSOS (AdvisorShares Pure US Cannabis ETF) and MSOX (Advisorshares Msos 2x Daily ETF) are both exchange-traded funds - MSOS is a Small Cap Blend Equities fund actively managed by AdvisorShares, while MSOX is a Leveraged Equities fund actively managed by AdvisorShares. Both are actively managed. Over the past 3 years, MSOS returned -8.60%/yr vs -66.81%/yr for MSOX. Their 0.99 correlation means they have historically moved very closely together. MSOS charges 0.78%/yr vs 0.95%/yr for MSOX.

Performance

MSOS vs. MSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AdvisorShares Pure US Cannabis ETF (MSOS) and Advisorshares Msos 2x Daily ETF (MSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSOS achieves a -10.38% return, which is significantly higher than MSOX's -49.55% return.

MSOS

• 1D: 0.48%
• 1M: -13.50%
• 6M: 4.96%
• YTD: -10.38%
• 1Y: 37.34%
• 3Y*: -8.60%
• 5Y*: -34.67%
• 10Y*: —
• ALL TIME*: -26.03%

MSOX

• 1D: 0.44%
• 1M: -27.56%
• 6M: -30.25%
• YTD: -49.55%
• 1Y: -44.33%
• 3Y*: -66.81%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -74.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSOS AdvisorShares Pure US Cannabis ETF	$13.98M	$19.49M	$31.09M
MSOX Advisorshares Msos 2x Daily ETF	$3.60M	$4.46M	$7.39M

MSOS vs. MSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MSOS AdvisorShares Pure US Cannabis ETF	-10.38%	23.88%	-45.65%	0.29%	-39.90%
MSOX Advisorshares Msos 2x Daily ETF	-49.55%	-51.20%	-87.32%	-39.26%	-76.29%

Correlation

The correlation between MSOS and MSOX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (All Time) Calculated using the full available price history since Aug 24, 2022	0.99

The correlation between MSOS and MSOX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

MSOS vs. MSOX - Sectors Allocation Comparison

Sectors	MSOS	MSOX
Real Estate	50.2%	-
Industrials	29.6%	-
Consumer Cyclical	17.8%	-
Healthcare	2.5%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	184.5%
Technology	-	-
Utilities	-	-

Return for Risk

MSOS vs. MSOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSOS

MSOS Risk / Return Rank: 31
MSOS Sharpe Ratio Rank: 21
MSOS Sortino Ratio Rank: 42
MSOS Omega Ratio Rank: 38
MSOS Calmar Ratio Rank: 29
MSOS Martin Ratio Rank: 23

MSOX

MSOX Risk / Return Rank: 18
MSOX Sharpe Ratio Rank: 8
MSOX Sortino Ratio Rank: 38
MSOX Omega Ratio Rank: 33
MSOX Calmar Ratio Rank: 6
MSOX Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSOS vs. MSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Pure US Cannabis ETF (MSOS) and Advisorshares Msos 2x Daily ETF (MSOX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MSOS	MSOX	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-0.16	+0.61
Sortino ratio: Return per unit of downside risk	1.55	1.40	+0.16
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.02
Calmar ratio: Return relative to maximum drawdown	0.94	-0.41	+1.35
Martin ratio: Return relative to average drawdown	1.64	-0.56	+2.20

MSOS vs. MSOX - Sharpe Ratio Comparison

The current MSOS Sharpe Ratio is 0.45, which is higher than the MSOX Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of MSOS and MSOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSOS vs. MSOX - Drawdown Comparison

The maximum MSOS drawdown since its inception was -96.25%, roughly equal to the maximum MSOX drawdown of -99.75%. Use the drawdown chart below to compare losses from any high point for MSOS and MSOX.

Drawdown Indicators

	MSOS	MSOX	Difference
Max Drawdown Largest peak-to-trough decline	-96.25%	-99.75%	+3.50%
Max Drawdown (1Y) Largest decline over 1 year	-52.91%	-84.89%	+31.98%
Max Drawdown (3Y) Largest decline over 3 years	-81.71%	-98.83%	+17.12%
Max Drawdown (5Y) Largest decline over 5 years	-94.45%	—	—
Current Drawdown Current decline from peak	-92.29%	-99.67%	+7.38%
Average Drawdown Average peak-to-trough decline	-72.23%	-89.19%	+16.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.20%	62.34%	-32.14%

Volatility

MSOS vs. MSOX - Volatility Comparison

The current volatility for AdvisorShares Pure US Cannabis ETF (MSOS) is 13.19%, while Advisorshares Msos 2x Daily ETF (MSOX) has a volatility of 25.51%. This indicates that MSOS experiences smaller price fluctuations and is considered to be less risky than MSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSOS	MSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.19%	25.51%	-12.32%
Volatility (6M) Calculated over the trailing 6-month period	56.27%	110.30%	-54.03%
Volatility (1Y) Calculated over the trailing 1-year period	111.22%	217.82%	-106.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	78.34%	166.50%	-88.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	73.62%	166.50%	-92.88%

MSOS vs. MSOX - Expense Ratio Comparison

MSOS has a 0.78% expense ratio, which is lower than MSOX's 0.95% expense ratio.

Dividends

MSOS vs. MSOX - Dividend Comparison

Neither MSOS nor MSOX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
MSOS AdvisorShares Pure US Cannabis ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%
MSOX Advisorshares Msos 2x Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSOS and MSOX in my portfolio?

With a correlation of 0.99, MSOS and MSOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MSOS or MSOX?

MSOX has higher volatility (25.51%) compared to MSOS (13.19%). In terms of maximum drawdown, MSOS dropped -96.25% vs MSOX's -99.75%.

Which ETF is better, MSOS or MSOX?

On 3-year performance, MSOS leads with -8.60% vs -66.81% for MSOX. On fees, MSOS is cheaper at 0.78% per year. On volatility, MSOS has been the lower-risk option at 13.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSOS or MSOX?

Over the 3-year period, MSOS has performed better with a -8.60% return vs -66.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSOS or MSOX?

MSOS is cheaper with a 0.78% expense ratio, compared with 0.95% for MSOX.

Which ETF pays a higher dividend yield, MSOS or MSOX?

MSOS and MSOX have nearly identical dividend yields, around 0.00%.

What is the main difference between MSOS and MSOX?

MSOS is categorized as Small Cap Blend Equities, while MSOX is Leveraged Equities. Their fees differ too: 0.78% for MSOS and 0.95% for MSOX.

Which has better risk-adjusted returns?

MSOS currently has the higher Sharpe Ratio (0.45 vs -0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.