MSOX vs. MSOS

Last updated Aug 2, 2026

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

Performance

MSOX vs. MSOS - Performance Comparison

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

Returns By Period

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

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%

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%

*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

MSOX vs. MSOS - Yearly Performance Comparison

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

Correlation

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

MSOX vs. MSOS - Sectors Allocation Comparison

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

Return for Risk

MSOX vs. MSOS — Risk / Return Rank

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

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

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

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.

MSOX vs. MSOS - Risk-Adjusted Trends Comparison

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

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

MSOX vs. MSOS - Sharpe Ratio Comparison

The current MSOX Sharpe Ratio is -0.16, which is lower than the MSOS Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of MSOX and MSOS, 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

MSOX vs. MSOS - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

MSOX vs. MSOS - Volatility Comparison

Advisorshares Msos 2x Daily ETF (MSOX) has a higher volatility of 25.51% compared to AdvisorShares Pure US Cannabis ETF (MSOS) at 13.19%. This indicates that MSOX's price experiences larger fluctuations and is considered to be riskier than MSOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

MSOX vs. MSOS - Expense Ratio Comparison

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

Dividends

MSOX vs. MSOS - Dividend Comparison

Neither MSOX nor MSOS 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 MSOX and MSOS in my portfolio?

With a correlation of 0.99, MSOX and MSOS 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, MSOX or MSOS?

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

Which ETF is better, MSOX or MSOS?

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, MSOX or MSOS?

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, MSOX or MSOS?

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

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

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

What is the main difference between MSOX and MSOS?

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

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.