TCNNF vs. MSOS

Last updated Jun 3, 2026

TCNNF (Trulieve Cannabis Corp) is a stock, while MSOS (AdvisorShares Pure US Cannabis ETF) is Small Cap Blend Equities fund actively managed by AdvisorShares. Over the past 5 years, TCNNF returned -24.52%/yr vs -34.22%/yr for MSOS. Their correlation of 0.83 suggests significant overlap in exposure.

Performance

TCNNF vs. MSOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trulieve Cannabis Corp (TCNNF) and AdvisorShares Pure US Cannabis ETF (MSOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with TCNNF having a 7.25% return and MSOS slightly lower at 6.99%.

TCNNF

• 1D: -1.58%
• 1M: -2.82%
• YTD: 7.25%
• 6M: 54.56%
• 1Y: 127.32%
• 3Y*: 34.04%
• 5Y*: -24.52%
• 10Y*: —

MSOS

• 1D: -1.17%
• 1M: 0.20%
• YTD: 6.99%
• 6M: 36.86%
• 1Y: 106.12%
• 3Y*: -1.97%
• 5Y*: -34.22%
• 10Y*: —

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

TCNNF vs. MSOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TCNNF Trulieve Cannabis Corp	7.25%	67.65%	-0.51%	-31.18%	-70.90%	-17.74%	49.22%
MSOS AdvisorShares Pure US Cannabis ETF	6.99%	23.88%	-45.65%	0.29%	-72.68%	-29.69%	47.95%

Correlation

The correlation between TCNNF and MSOS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.83

The correlation between TCNNF and MSOS has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

Return for Risk

TCNNF vs. MSOS — Risk / Return Rank

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

TCNNF

TCNNF Risk / Return Rank: 76
TCNNF Sharpe Ratio Rank: 72
TCNNF Sortino Ratio Rank: 81
TCNNF Omega Ratio Rank: 75
TCNNF Calmar Ratio Rank: 78
TCNNF Martin Ratio Rank: 74

MSOS

MSOS Risk / Return Rank: 35
MSOS Sharpe Ratio Rank: 27
MSOS Sortino Ratio Rank: 41
MSOS Omega Ratio Rank: 37
MSOS Calmar Ratio Rank: 42
MSOS Martin Ratio Rank: 28

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.

TCNNF vs. MSOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trulieve Cannabis Corp (TCNNF) 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.

	TCNNF	MSOS	Difference
Sharpe ratio Return per unit of total volatility	1.06	0.95	+0.11
Sortino ratio Return per unit of downside risk	2.42	2.10	+0.33
Omega ratio Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio Return relative to maximum drawdown	2.44	2.07	+0.37
Martin ratio Return relative to average drawdown	4.87	3.95	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCNNF vs. MSOS - Sharpe Ratio Comparison

The current TCNNF Sharpe Ratio is 1.06, which is comparable to the MSOS Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of TCNNF 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.

Sharpe Ratios by Period

	TCNNF	MSOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.95	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.28	-0.44	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	-0.33	+0.31

Drawdowns

TCNNF vs. MSOS - Drawdown Comparison

The maximum TCNNF drawdown since its inception was -93.88%, roughly equal to the maximum MSOS drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for TCNNF and MSOS.

Drawdown Indicators

	TCNNF	MSOS	Difference
Max Drawdown Largest peak-to-trough decline	-93.88%	-96.25%	+2.37%
Max Drawdown (1Y) Largest decline over 1 year	-54.42%	-52.91%	-1.51%
Max Drawdown (3Y) Largest decline over 3 years	-77.52%	-81.71%	+4.19%
Max Drawdown (5Y) Largest decline over 5 years	-91.77%	-94.99%	+3.22%
Current Drawdown Current decline from peak	-82.34%	-90.80%	+8.46%
Average Drawdown Average peak-to-trough decline	-61.16%	-71.70%	+10.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.32%	27.76%	-0.44%

Volatility

TCNNF vs. MSOS - Volatility Comparison

Trulieve Cannabis Corp (TCNNF) has a higher volatility of 28.20% compared to AdvisorShares Pure US Cannabis ETF (MSOS) at 19.84%. This indicates that TCNNF'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

	TCNNF	MSOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.20%	19.84%	+8.36%
Volatility (6M) Calculated over the trailing 6-month period	84.17%	80.95%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	120.44%	111.81%	+8.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.73%	77.77%	+9.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.80%	74.02%	+7.78%

Dividends

TCNNF vs. MSOS - Dividend Comparison

Neither TCNNF 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%
TCNNF Trulieve Cannabis Corp	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCNNF and MSOS in my portfolio?

With a correlation of 0.91, TCNNF 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, TCNNF or MSOS?

TCNNF has higher volatility (28.20%) compared to MSOS (19.84%). In terms of maximum drawdown, TCNNF dropped -93.88% vs MSOS's -96.25%.

Which has better risk-adjusted returns?

TCNNF currently has the higher Sharpe Ratio (1.06 vs 0.95), 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.