MSOX - AdvisorShares MSOS 2x Daily ETF

Leverage your cannabis exposure

Designed for sophisticated investors looking to gain magnified exposure to the U.S. cannabis sector.

 
If you’re unsure, this may not be for you. Visit the $MSOS ETF Page for 1x Exposure.
Symbol Exchange Inception Date CUSIP NAV Options Available
MSOX NYSE Arca 8/23/2022 00768Y313 MSOX.NAV Yes
<strong>What Does MSOX Invest In</strong>

The AdvisorShares MSOS 2x Daily ETF (ticker: MSOX) is designed for sophisticated investors looking to gain magnified exposure to the U.S. cannabis sector. As an actively managed, leveraged ETF, MSOX seeks to generate amplified cannabis exposure by normally investing in swap agreements on the AdvisorShares Pure US Cannabis ETF (ticker: MSOS). MSOS is designed to give exposure to U.S. companies across multiple industries expected to benefit from the growing legalization of the medical and recreational cannabis.

<strong>Why Invest in MSOX?</strong>
  • Leveraged Exposure to Cannabis – MSOX seeks to magnify the returns of cannabis investing for a single day.
  • Increase Buying Power – MSOX’s leveraged exposure allows you to overweight your cannabis holdings for less cash.
  • Access to U.S. Cannabis Exposure– MSOX (and MSOS) trade on the NYSE Arca exchange, offering exposure to multiple cannabis securities in a convenient, single trade. To buy U.S. cannabis companies on your own, investors will need to seek these stocks out in smaller, foreign exchanges.
<strong>Where Can MSOX Fit in a Traditional Portfolio?</strong>

MSOX is designed for short-term trading. MSOX can be used to gain dedicated, leveraged exposure to the U.S. cannabis market.

<strong>Key Attributes</strong>
  • Dedicated U.S. Cannabis Exposure – Even with limited legal availability, the U.S. cannabis market is the largest in the world and is forecast to remain so into the immediate future. The U.S. is also recognized as a leader in the cannabis space, having a reputation for creating some of the best and innovative products, as well as, mastering large scale cultivation. With exposure to U.S. companies spanning a variety of cannabis-related businesses, MSOX seeks to take advantage of this growth opportunity.
  • Emerging Growth Opportunity – Cannabis securities span multiple industries including agriculture, biotechnology, pharmaceutical, real estate, retail, finance, and other medical applications. The portfolio manager believes that an evolving landscape of select, cannabis-related companies may provide upside potential that may lead to attractive growth opportunities, including the potential for merger and acquisition activity as the market matures and evolves.
  • Active ManagementThe cannabis marketplace is quickly evolving, witnessing ongoing innovation, dominated by micro-/small-cap companies, and experiencing rapid fluctuation. Timely decision making is necessary to assess risks in this volatile marketplace which could impact rebalance frequency and targeted leverage.
<strong>Important Investor Considerations</strong>

Leveraged investing is not for everyone. Cannabis investing is volatile. MSOX is intended for sophisticated investors who understand and accept the potential for substantial losses over a short time frame; understand the unique nature and performance characteristics of daily leveraged investment results; and intend to actively monitor and manage their exposure daily. 

MSOX is designed to track the levered performance of MSOS for only one day. Due to the compounding of daily returns, holding periods of greater than one day can result in MSOX having returns that are significantly different than MSOS’s return. The volatile nature of the cannabis sector may make the return difference more pronounced.

MSOX’s performance can be affected by several things, including, but not limited to fees and expenses, assets under management, volatility in the cannabis market, regulatory limitations, end-of-day capacity constraints, and counter-party limitations.

If leveraged cannabis investing is not suitable for you, consider the AdvisorShares Pure US Cannabis ETF (MSOS) or the AdvisorShares Pure Cannabis ETF (YOLO) which invest in the US or global cannabis markets, respectively, without using leverage.

<strong>About the Portfolio Manager</strong>

Dan Ahrens, Portfolio Manager

Mr. Ahrens is a Managing Director and the Chief Operating Officer of AdvisorShares. He is the portfolio manager of several AdvisorShares ETFs: MSOS 2x Daily ETF (ticker: MSOX), Pure US Cannabis ETF (ticker: MSOS) – the first ETF to offer U.S.-exclusive cannabis exposure, Pure Cannabis ETF (ticker: YOLO), Vice ETF (ticker: VICE), Hotel ETF (ticker: BEDZ), and Restaurant ETF (ticker: EATZ).

He carries over two decades of experience in the financial services industry serving in a variety of senior-level capacities and is the author of Investing in Cannabis (Wiley, 2020) and Investing in Vice (St. Martin’s Press, 2004). Additionally, Mr. Ahrens has appeared on numerous financial programs including CNBC, CNN, Fox Business, ABC News and Bloomberg and has been featured, along with funds under his management in major national and trade publications including The Economist, the New York Times, Financial Times, and The Wall Street Journal.

MSOX Overview 

Get a quick and easy introduction to the MSOX ETF.  

MSOX Overview

  Get a quick and easy introduction to the MSOX ETF.

Fund

Price History

Fund Data

10/8/2024
NAV $2.17
Change $0.04
Shares Outstanding 26,270,000
Assets Under Management $57,096,803.26

Market Data

10/8/2024
Closing Price $2.18
Close Change $0.03
Volume 956,906

Regulatory Data

10/8/2024
Premium Discount $0.01
30-Day Median bid-ask Spread 0.450000
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount Historical Data

Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

FUND

Characteristics

As of 9/30/2024

Source: Morningstar & AdvisorShares *Fund Characteristics Do Not Include Cash

FUND

Performance

As of 9/30/2024

  NAV Market Price Return North American Marijuana Index S&P 500 Index
1 Month 25.06 25.95 4.93 2.14
3 Months -16.99 -16.49 0.39 5.89
YTD -35.94 -35.10 5.87 22.08
1 Year -58.59 -58.76 1.48 36.35
Since Inception (8/23/2022, Annualized) -67.62 -67.63 -26.37 19.03

As of 9/30/2024

  NAV Market Price Return North American Marijuana Index S&P 500 Index
1 Month 25.06 25.95 4.93 2.14
3 Months -16.99 -16.49 0.39 5.89
YTD -35.94 -35.10 5.87 22.08
1 Year  -58.59  -58.76 1.48  36.35
Since Inception (8/23/2022, Annualized) -67.62 -67.63 -26.37 19.03

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. One cannot invest directly in an index. The North American Cannabis Index tracks the performance of a basket of North American publicly listed companies with significant business activities in the marijuana industry.

Get Social @AdvisorShares

Join the conversation on social media to hear more from the portfolio manager, get informed about upcoming events and webinars, and more!

Find Us On X >          Find Us On LinkedIn >

Fund

Holdings

As of

About That Cash>>

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
10/08/2024 MSOS GTBIF GTBIFNOM GREEN THUMB INDUSTRIES SWAP 21,302,670.00 10.34 220,205,699.79 25.25% TW
TCNNF TCNNFTRS TRULIEVE CANNABIS SWAP 18,000,926.00 11.74 211,330,871.24 24.23% TW
CURLF CURLFNOM CURALEAF HOLDINGS INC SWAP 47,044,949.00 2.97 139,723,498.53 16.02% TW
VRNOF VRNOFTRS VERANO HOLDINGS CORP SWAP 30,436,434.00 3.23 98,309,681.82 11.27% TW
CRLBF CRLBFTRS CRESCO LABS INC SWAP 33,578,105.00 1.64 55,068,092.20 6.31% TW
TSNDF TSNDFNOM TERRASCEND CORP SWAP 37,537,439.00 1.25 46,921,798.75 5.38% TW
GLASF GLASFNOM GLASS HOUSE BRANDS SWAP 4,369,907.00 8.78 38,367,783.46 4.40% TW
AYRWF AYRWFTRS AYR WELLNESS INC SWAP 12,477,155.00 1.84 22,926,772.31 2.63% TW
JUSHF JUSHFTRS JUSHI HOLDINGS INC SWAP 22,047,382.00 0.51 11,221,456.02 1.29% TW
PLNHF PLNHFTRS PLANET 13 HOLDINGS SWAP 15,926,900.00 0.58 9,265,314.81 1.07% TW
CBSTF CBSTFNOM CANNABIST COMPANY HOLDINGS INC SWAP 43,346,239.00 0.21 9,037,690.83 1.04% TW
VREOF VREOFTRS VIREO GROWTH INC COM SWAP 6,538,912.00 0.50 3,271,646.54 0.37% TW
GRUSF GRUSFTRS GROWN ROGUE INTERNATIONAL SWAP 3,912,300.00 0.69 2,719,048.50 0.31% TW
AYRWU AYRWUNOM AYR RIGHTS OFFERING 3,117,783.00 0.85 2,653,233.34 0.30% TW
CXXIF CXXIFNOM C21 INVESTMENTS INC SWAP 11,726,481.00 0.22 2,579,825.82 0.30% TW
FFNTF FFNTFNOM 4FRONT VENTURES CORP SWAP 36,046,798.00 0.04 1,622,105.91 0.18% TW
AAWH AAWHNOM ASCEND WELLNESS HOLDINGS SWAP REC 1,977,899.00 0.78 1,544,739.12 0.18% TW
VEXTF VEXTFNOM VAPEN MJ VENTURES CORP SWAP 5,036,256.00 0.14 710,112.10 0.08% TW
MRMD MRMDNOM MARIMED INC SWAP 4,523,000.00 0.15 680,711.50 0.08% TW
RIV BMFBP84 RIV CAPITAL INC 4,294,850.00 0.14 597,008.82 0.07% FS
SHWZ SHWZTRS SCHWAZZE (MEDICINE MAN TECHNOLOGIES) SWAP 2,261,000.00 0.25 565,250.00 0.06% TW
ACRHF ACRHFNOM ACREAGE HOLDINGS SUB VTG CL E ORD SWAP 2,670,161.00 0.19 504,660.43 0.05% TW
GRAM GRAMNOM GOLD FLORA CORP SWAP 4,598,805.00 0.08 349,509.18 0.04% TW
LOWLF LOWLFNOM LOWELL FARMS INC-SUB SWAP 501,450.00 0.01 6,368.42 0.00% TW
CBDHF 423821107 HEMPFUSION WELLNESS INC 7,964,631.00 0.00 7.96 0.00% FS
BNYMCRNOM DERIVATIVES COLLATERAL NOMURA 579,870,000.00 1.00 579,870,000.00 66.49% MM
X9USDBLYT BLACKROCK TREASURY TRUST INSTL 62 155,760,478.33 1.00 155,760,478.33 17.86% MM
BNYMCRCLR DERIVATIVES COLLATERAL CLEARSTREET 74,659,696.31 1.00 74,659,696.31 8.56% MM
CASH -818,362,740.91 100.00 -818,362,740.91 -93.84% CA
Holdings and allocations are subject to risks and to change. 

As of 10/08/2024

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
10/08/2024 MSOX MSOS MSOSNOM ADVISORSHARES TR PURE US CANNABIS SWAP 9,881,699 6.94 68,578,991.06 120.10% TW
MSOSTR MSOSTRSCS ADVISORSHARES TR PURE US CANNABIS SWAP 6,595,000 6.94 45,769,300.00 80.15% TW
BNYMCRNOM DERIVATIVES COLLATERAL NOMURA 30,670,000 1.00 30,670,000.00 53.71% MM
BNYMCRCLR DERIVATIVES COLLATERAL CLEARSTREET 27,195,483.78 1.00 27,195,483.78 47.63% MM
X9USDBLYT BLACKROCK TREASURY TRUST INSTL 62 3,233,266.58 1.00 3,233,266.58 5.66% MM
CASH -118,344,342.38 100.00 -118,344,342.38 -207.25% CA
Holdings and allocations are subject to risks and to change. 
Where can I buy this ETF?

FUND

Fees & Expenses

Management Fee 0.85%
Total Annual Operating Expenses  4.72%
Total Annual Operating Expenses After Fee Waiver/Expense Reimbursement*  1.13%

*Total Annual Operating Expenses and Total Annual Operating Expenses After Wavier/Reimbursement in this fee table may not correlate to the expense ratios in the Fund’s financial highlights. The Advisor has contractually agreed to reduce its fees and or reimburse expenses to keep net expenses from exceeding 0.95% of the Fund’s average daily net assets for at least one year from the date of the prospectus. The cost of investing in swaps, including the embedded cost of the swap and the operating expenses of the referenced assets, is an indirect expense that is not included in the above fee table. For more information, please read the full prospectus.

Last Ten

Fund Distributions

     DEFINITIONS:

  • A swap agreement is a derivative contract between two parties that involves the exchange of pre-agreed cash flows of two financial instruments.
  • Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor. 
  •    
  • The Fund is an actively managed ETF that seeks to provide investment results that are two times (2x) the daily total return, before fees and expenses, of the US Cannabis ETF, an affiliated ETF, by entering into one or more swaps agreements on the US Cannabis ETF. The Fund does not seek to achieve its stated investment objective for a period of time different than a single day. A single day is measured from the time the Fund calculates its net asset value (“NAV”) to the time of the Fund’s next NAV calculation.The Fund will enter into one or more swap agreements intended to produce economically-leveraged investment results relative to the returns of the US Cannabis ETF. The Fund may use a combination of swaps on the US Cannabis ETF and swaps on various investment vehicles that are designed to track the performance of the US Cannabis ETF. The Fund expects that cash balances in connection with the use of such financial instruments (“Collateral”) will typically be held in money market instruments or other cash equivalents.The Fund is subject to a number of risks that may affect the value of its shares. This section provides additional information about the Fund’s principal risks. The degree to which a risk applies to the Fund varies according to its investment allocation. Each investor should review the complete description of the principal risks before investing in the Fund. As with investing in other securities whose prices increase and decrease in market value, you may lose money by investing in the Fund.Cannabis-Related Company Risk – Cannabis-related companies are subject to various laws and regulations that may differ at the state/local and federal level. These laws and regulations may (i) significantly affect a cannabis-related company’s ability to secure financing, (ii) impact the market for marijuana industry sales and services, and (iii) set limitations on marijuana use, production, transportation, and storage. Cannabis-related companies may also be required to secure permits and authorizations from government agencies to cultivate or research marijuana. In addition, cannabis-related companies are subject to the risks associated with the greater agricultural industry, including changes to or trends that affect commodity prices, labor costs, weather conditions, and laws and regulations related to environmental protection, health and safety. Cannabis-related companies may also be subject to risks associated with the biotechnology and pharmaceutical industries. These risks include increased government regulation, the use and enforcement of intellectual property rights and patents, technological change and obsolescence, product liability lawsuits, and the risk that research and development may not necessarily lead to commercially successful products.
  • Leverage Risk – Leverage is investment exposure that exceeds the initial amount invested. The loss on a leveraged investment may far exceed the Fund’s principal amount invested. Leverage may magnify the Fund’s gains and losses and, therefore, increase volatility. The use of leverage may result in the Fund having to liquidate holdings when it may not be advantageous to do so.
  • Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined) and do not represent the return you would receive if you traded at other times.