MSOS vs. TBIL
MSOS (AdvisorShares Pure US Cannabis ETF) and TBIL (US Treasury 3 Month Bill ETF) are both exchange-traded funds - MSOS is a Small Cap Blend Equities fund actively managed by AdvisorShares, while TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. MSOS is actively managed, while TBIL is passively managed. Over the past 3 years, MSOS returned -1.21%/yr vs 4.63%/yr for TBIL. At a 0.02 correlation, their price movements are largely independent. MSOS charges 0.74%/yr vs 0.15%/yr for TBIL.
Performance
MSOS vs. TBIL - Performance Comparison
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Returns By Period
In the year-to-date period, MSOS achieves a 8.05% return, which is significantly higher than TBIL's 1.51% return.
MSOS
- 1D
- 7.59%
- 1M
- 1.19%
- YTD
- 8.05%
- 6M
- 30.10%
- 1Y
- 117.95%
- 3Y*
- -1.21%
- 5Y*
- -34.07%
- 10Y*
- —
TBIL
- 1D
- 0.02%
- 1M
- 0.28%
- YTD
- 1.51%
- 6M
- 1.78%
- 1Y
- 3.93%
- 3Y*
- 4.63%
- 5Y*
- —
- 10Y*
- —
MSOS vs. TBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MSOS AdvisorShares Pure US Cannabis ETF | 8.05% | 23.88% | -45.65% | 0.29% | -40.76% |
TBIL US Treasury 3 Month Bill ETF | 1.51% | 4.19% | 5.15% | 5.12% | 1.30% |
Correlation
The correlation between MSOS and TBIL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2022 | 0.02 |
The correlation between MSOS and TBIL shifts across timeframes, from -0.09 (1 year) to 0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MSOS vs. TBIL — Risk / Return Rank
MSOS
TBIL
MSOS vs. TBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares Pure US Cannabis ETF (MSOS) and US Treasury 3 Month Bill ETF (TBIL). 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.
| MSOS | TBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.72 | ||
| Sortino ratioReturn per unit of downside risk | -56.21 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 17.16 | -15.90 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 196.84 | -194.60 |
| Martin ratioReturn relative to average drawdown | 4.26 | 934.40 | -930.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSOS | TBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 13.78 | -12.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.32 | 14.08 | -14.40 |
Drawdowns
MSOS vs. TBIL - Drawdown Comparison
The maximum MSOS drawdown since its inception was -96.25%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for MSOS and TBIL.
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Drawdown Indicators
| MSOS | TBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.25% | -0.10% | -96.15% |
Max Drawdown (1Y)Largest decline over 1 year | -52.91% | -0.02% | -52.89% |
Max Drawdown (3Y)Largest decline over 3 years | -81.71% | -0.02% | -81.69% |
Max Drawdown (5Y)Largest decline over 5 years | -94.99% | — | — |
Current DrawdownCurrent decline from peak | -90.71% | 0.00% | -90.71% |
Average DrawdownAverage peak-to-trough decline | -71.72% | -0.00% | -71.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.81% | 0.00% | +27.81% |
Volatility
MSOS vs. TBIL - Volatility Comparison
AdvisorShares Pure US Cannabis ETF (MSOS) has a higher volatility of 21.39% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that MSOS's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSOS | TBIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.39% | 0.08% | +21.31% |
Volatility (6M)Calculated over the trailing 6-month period | 80.80% | 0.19% | +80.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 112.18% | 0.29% | +111.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.89% | 0.32% | +77.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 74.08% | 0.32% | +73.76% |
MSOS vs. TBIL - Expense Ratio Comparison
MSOS has a 0.74% expense ratio, which is higher than TBIL's 0.15% expense ratio.
Dividends
MSOS vs. TBIL - Dividend Comparison
MSOS has not paid dividends to shareholders, while TBIL's dividend yield for the trailing twelve months is around 3.82%.
| 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% |
TBIL US Treasury 3 Month Bill ETF | 3.82% | 4.07% | 5.02% | 5.00% | 1.10% | 0.00% |
Frequently Asked Questions
MSOS and TBIL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSOS has higher volatility (21.39%) compared to TBIL (0.08%). In terms of maximum drawdown, MSOS dropped -96.25% vs TBIL's -0.10%.
On 3-year performance, TBIL leads with 4.63% vs -1.21% for MSOS. On fees, TBIL is cheaper at 0.15% per year. On volatility, TBIL has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TBIL has performed better with a 4.63% return vs -1.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBIL is cheaper with a 0.15% expense ratio, compared with 0.74% for MSOS.
TBIL has the higher dividend yield at 3.82%, compared with 0.00% for MSOS.
MSOS is categorized as Small Cap Blend Equities, while TBIL is Ultrashort Bond. They also come from different issuers: AdvisorShares and US Benchmark Series. Their fees differ too: 0.74% for MSOS and 0.15% for TBIL.
TBIL currently has the higher Sharpe Ratio (13.78 vs 1.06), 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.
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