Top Cannabis ETFs in 2025: Performance, Prices, and Insights

In 2024, cannabis ETFs have captured investor attention as the sector experiences a notable rebound, with key indices surging by 15%. This growth follows significant legislative progress, such as President Biden’s federal cannabis pardons, New York State’s issuance of recreational dispensary licenses, and legalization expanding to 21 states including Missouri and Maryland.

The top cannabis ETFs—ETFMG Alternative Harvest ETF, AdvisorShares Pure US Cannabis ETF, and ETFMG U.S. Alternative Harvest ETF—offer investors targeted exposure to companies engaged in cultivating, distributing, and retailing cannabis products. Despite the Global Cannabis Stock Index losing over two-thirds of its value in the past year, these ETFs have outperformed that benchmark, though they remain behind the broader S&P 500 Index, which declined 14% through November 2022.

Key Highlights

• ETFMG Alternative Harvest, AdvisorShares Pure US Cannabis, and ETFMG U.S. Alternative Harvest ETFs lead in one-year trailing returns among cannabis-focused funds.
• Cannabis equities have underperformed the broader U.S. stock market over the past year but rebounded 15% since late September.
• Top holdings include ETFMG U.S. Alternative Harvest ETF, Green Thumb Industries Inc., and Innovative Industrial Properties Inc.

Currently, five cannabis ETFs trade in the U.S. market, excluding leveraged, inverse, and those with under $50 million in assets under management (AUM). As cannabis gains global acceptance for medicinal and recreational use, the legal cannabis market is projected to grow at a robust compound annual growth rate (CAGR) of 25.5% through 2030.

Below is an in-depth look at the three leading cannabis ETFs based on their recent stock performance and fund characteristics.

ETFMG Alternative Harvest ETF (Ticker: MJ) – 2024 Overview

• One-Year Performance: -58.0%
• Expense Ratio: 0.75%
• Dividend Yield: 1.56%
• Average Daily Volume (3 months): 1,227,992 shares
• Assets Under Management: $416.7 million
• Inception Date: December 3, 2015
• Issuer: ETFMG

ETFMG Alternative Harvest ETF is the pioneering fund focusing on the global cannabis industry, tracking the Prime Alternative Harvest Index. This index includes companies involved in the cultivation, marketing, and sale of cannabis for both medicinal and recreational use, with a strong emphasis on Canadian cannabis firms.

Its major holdings include the ETFMG U.S. Alternative Harvest ETF (MJUS), SNDL Inc., a Canadian cannabis distributor and retailer, and Canopy Growth Corp., a leading Canadian recreational and medicinal cannabis producer. Holdings data is current as of November 19, 2023.

AdvisorShares Pure US Cannabis ETF (Ticker: MSOS) – 2024 Insights

• One-Year Performance: -58.7%
• Expense Ratio: 0.80%
• Dividend Yield: Not applicable
• Average Daily Volume (3 months): 2,072,595 shares
• Assets Under Management: $780.6 million
• Inception Date: September 1, 2020
• Issuer: AdvisorShares

This actively managed ETF concentrates exclusively on U.S. cannabis companies, including multi-state operators (MSOs) that participate in various segments such as cultivation, retail, real estate investment trusts (REITs), healthcare, hydroponics, and pharmaceuticals. The fund aims for long-term capital appreciation.

Top holdings include Green Thumb Industries Inc., a key supplier to retail outlets; Curaleaf Holdings Inc., which combines cannabis product sales with professional services like property leasing; and Trulieve Cannabis Corp., a fully integrated cannabis producer and retailer. Holdings reflect data as of November 18, 2023.

ETFMG U.S. Alternative Harvest ETF (Ticker: MJUS) – 2024 Performance

• One-Year Performance: -59.5%
• Expense Ratio: 0.75%
• Dividend Yield: Not applicable
• Average Daily Volume (3 months): 589,302 shares
• Assets Under Management: $117.1 million
• Inception Date: May 12, 2021
• Issuer: ETFMG

This actively managed fund targets U.S.-based companies deriving at least 50% of their net revenue from cannabis-related operations. Its portfolio includes Innovative Industrial Properties Inc., a cannabis-focused REIT, alongside Curaleaf Holdings Inc. and Green Thumb Industries Inc. Holdings are current as of November 19, 2023.

Disclaimer: The information provided is for educational purposes only and does not constitute investment advice. Investors should conduct their own research or consult a financial advisor before making investment decisions. Market conditions can change rapidly, and past performance is not indicative of future results.

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