TOKE vs. MSOS

Last updated Apr 1, 2026

Compare and contrast key facts about Cambria Cannabis ETF (TOKE) and AdvisorShares Pure US Cannabis ETF (MSOS).

TOKE and MSOS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TOKE is an actively managed fund by Cambria. It was launched on Jul 25, 2019. MSOS is an actively managed fund by AdvisorShares. It was launched on Sep 1, 2020.

Performance

TOKE vs. MSOS - Performance Comparison

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

TOKE vs. MSOS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TOKE Cambria Cannabis ETF	-17.05%	21.18%	-6.39%	-9.28%	-45.07%	-12.91%	18.87%
MSOS AdvisorShares Pure US Cannabis ETF	-24.79%	23.88%	-45.65%	0.29%	-72.68%	-29.69%	47.95%

Returns By Period

In the year-to-date period, TOKE achieves a -17.05% return, which is significantly higher than MSOS's -24.79% return.

TOKE

• 1D: 1.13%
• 1M: -12.35%
• YTD: -17.05%
• 6M: -20.63%
• 1Y: 14.63%
• 3Y*: -3.31%
• 5Y*: -22.09%
• 10Y*: —

MSOS

• 1D: 12.70%
• 1M: -8.51%
• YTD: -24.79%
• 6M: -25.89%
• 1Y: 36.02%
• 3Y*: -14.55%
• 5Y*: -39.20%
• 10Y*: —

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

TOKE vs. MSOS - Expense Ratio Comparison

TOKE has a 0.42% expense ratio, which is lower than MSOS's 0.74% expense ratio.

MSOS

AdvisorShares Pure US Cannabis ETF

TOKE

Cambria Cannabis ETF

Return for Risk

TOKE vs. MSOS — Risk / Return Rank

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

TOKE

TOKE Risk / Return Rank: 26
TOKE Sharpe Ratio Rank: 22
TOKE Sortino Ratio Rank: 34
TOKE Omega Ratio Rank: 29
TOKE Calmar Ratio Rank: 24
TOKE Martin Ratio Rank: 20

MSOS

MSOS Risk / Return Rank: 35
MSOS Sharpe Ratio Rank: 22
MSOS Sortino Ratio Rank: 57
MSOS Omega Ratio Rank: 43
MSOS Calmar Ratio Rank: 29
MSOS Martin Ratio Rank: 22

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.

TOKE vs. MSOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Cannabis ETF (TOKE) 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.

	TOKE	MSOS	Difference
Sharpe ratio Return per unit of total volatility	0.34	0.33	+0.01
Sortino ratio Return per unit of downside risk	0.96	1.42	-0.46
Omega ratio Gain probability vs. loss probability	1.11	1.16	-0.05
Calmar ratio Return relative to maximum drawdown	0.53	0.66	-0.13
Martin ratio Return relative to average drawdown	1.18	1.32	-0.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOKE vs. MSOS - Sharpe Ratio Comparison

The current TOKE Sharpe Ratio is 0.34, which is comparable to the MSOS Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of TOKE and MSOS, 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

	TOKE	MSOS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	0.33	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.68	-0.52	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	-0.40	-0.11

Correlation

The correlation between TOKE and MSOS is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TOKE vs. MSOS - Dividend Comparison

TOKE's dividend yield for the trailing twelve months is around 1.10%, while MSOS has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
TOKE Cambria Cannabis ETF	1.10%	0.91%	6.62%	4.20%	2.11%	3.54%	4.33%	2.26%
MSOS AdvisorShares Pure US Cannabis ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	0.00%	0.00%

Drawdowns

TOKE vs. MSOS - Drawdown Comparison

The maximum TOKE drawdown since its inception was -83.27%, smaller than the maximum MSOS drawdown of -96.25%. Use the drawdown chart below to compare losses from any high point for TOKE and MSOS.

Drawdown Indicators

	TOKE	MSOS	Difference
Max Drawdown Largest peak-to-trough decline	-83.27%	-96.25%	+12.98%
Max Drawdown (1Y) Largest decline over 1 year	-26.30%	-52.91%	+26.61%
Max Drawdown (5Y) Largest decline over 5 years	-78.40%	-95.26%	+16.86%
Current Drawdown Current decline from peak	-77.76%	-93.53%	+15.77%
Average Drawdown Average peak-to-trough decline	-60.96%	-71.08%	+10.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.84%	26.44%	-14.60%

Volatility

TOKE vs. MSOS - Volatility Comparison

The current volatility for Cambria Cannabis ETF (TOKE) is 8.52%, while AdvisorShares Pure US Cannabis ETF (MSOS) has a volatility of 22.69%. This indicates that TOKE experiences smaller price fluctuations and is considered to be less risky than MSOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOKE	MSOS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.52%	22.69%	-14.17%
Volatility (6M) Calculated over the trailing 6-month period	30.83%	79.95%	-49.12%
Volatility (1Y) Calculated over the trailing 1-year period	43.72%	109.99%	-66.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	75.80%	-43.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.01%	73.16%	-37.15%