Cannabis is projected to be a $444 billion global market by 2030, according to Forbes Business Insights. The industry is expected to grow by an impressive compound annual growth rate of 34%.
Investors have several ways to potentially profit from this tremendous growth. You can invest in specific marijuana stocks, but another alternative is to invest in exchange-traded funds (ETFs) that focus on the cannabis industry.
The main benefit of buying marijuana ETFs is that your money is spread across a basket of stocks, which can lower your risk compared to investing in only a few individual stocks. Here's what you need to know about the top marijuana ETFs on the market.
Top marijuana ETFs
Top marijuana ETFs in 2025
Below are six top marijuana ETFs ranked by assets under management.
| ETF | Assets Under Management | Net Expense Ratio |
|---|---|---|
| AdvisorShares Pure U.S. Cannabis ETF (NYSEMKT:MSOS) | $308.9 million | 0.77% |
| Amplify Alternative Harvest ETF (NYSEMKT:MJ) | $103.8 million | 0.76% |
| Global X Marijuana Life Sciences Index ETF (OTC:HMLSF) | $44.9 million | 0.98% |
| AdvisorShares Pure Cannabis ETF (NYSEMKT:YOLO) | $24.9 million | 1.12% |
| Amplify Seymour Cannabis ETF (NYSEMKT:CNBS) | $55.9 million | 0.76% |
| Cambria Cannabis ETF (NYSEMKT:TOKE) | $11.7 million | 0.43% |
ETFs 1-3
1. AdvisorShares Pure U.S. Cannabis ETF
The largest marijuana ETF, based on assets under management, is the AdvisorShares Pure U.S. Cannabis ETF (MSOS 8.8%). It's the first ETF to focus exclusively on the U.S. cannabis market.
This ETF currently has more than 20 holdings, including U.S. marijuana stocks and swaps (derivative contracts, where the values or cash flows of one asset are exchanged for another). Its top positions include swaps for Green Thumb Industries (GTBIF 5.01%), Trulieve Cannabis (TCNNF 8.39%), Curaleaf Holdings (CURLF 13.23%), Glass House Brands (OTC:GLASF), Cresco Labs (CRLBF 8.03%), and Verano Holdings (OTC:VRNO.F).
It's possible that the ETF's focus on the U.S. market could give investors greater growth opportunities than other ETFs. Although marijuana remains illegal at the federal level in the U.S., many states have legalized marijuana for medical and/or recreational use.
2. Amplify Alternative Harvest ETF
In 2015, Amplify Alternative Harvest ETF (MJ 3.07%) became the first U.S. ETF to target the global cannabis market. This ETF was established even before the Canadian cannabis industry took off after the legalization of recreational marijuana in 2018.
Amplify Alternative Harvest ETF currently owns 10 individual stocks. Its top stock holdings include Tilray Brands (TLRY -2.04%), Cronos Group (CRON -0.97%), SNDL (SNDL -1.62%), Aurora Cannabis (ACB 0.42%), and Canopy Growth (CGC 2.25%).
These five positions combined make up almost 44% of the ETF's total assets. Roughly 45% of the ETF is also invested in its sister fund, Amplify Seymour Cannabis ETF (CNBS 7.12%).
Canadian cannabis producers weigh heavily in the ETF's portfolio. This could hurt the ETF's performance while current U.S. federal cannabis laws remain in effect. The Canadian companies can't enter the U.S. cannabis market and retain their listings on major U.S. stock exchanges as long as marijuana is illegal at the federal level.
3. Global X Marijuana Life Sciences Index ETF
Although Global X Marijuana Life Sciences Index ETF (HMLSF -1.08%) isn't listed on a major U.S. stock exchange, U.S. investors can buy the ETF on over-the-counter (OTC) markets. Its 2017 inception makes it one of the oldest marijuana ETFs.
The ETF's top holdings include Jazz Pharmaceuticals (JAZZ 0.2%), Cronos Group, Innovative Industrial Properties (IIPR -0.19%), Scotts Miracle-Gro (SMG 1.38%), and SNDL. Together, these five stocks account for approximately 60% of the ETF's total portfolio.
Global X Marijuana Life Sciences Index ETF became the first ETF to target the global cannabis market. The ETF was established even before the Canadian cannabis industry took off after the legalization of recreational marijuana in 2018.
ETFs 4-6
4. AdvisorShares Pure Cannabis ETF
AdvisorShares operates two marijuana ETFs. One focuses exclusively on the U.S. cannabis market, but the AdvisorShares Pure Cannabis ETF (YOLO 5.02%) doesn't limit itself to the U.S. Instead, it focuses on the global cannabis market.
The ETF currently has 23 stock holdings. Almost 29% of its assets are invested in the AdvisorShares Pure U.S. Cannabis ETF. The top five individual stocks in its portfolio are Village Farms International (VFF 7.8%), High Tide (HITI -2.53%), SNDL, Jazz Pharmaceuticals, and Cardiol Therapeutics (CRDL 2.86%). The stocks make up almost 47% of the ETF's total holdings.
The AdvisorShares ETF could be an attractive alternative for investors who want exposure outside the U.S. but still want a heavier weighting to U.S. stocks.
5. Amplify Seymour Cannabis ETF
Amplify Seymour Cannabis ETF (CNBS 7.12%) bears the name of its manager, Tim Seymour. He is a well-known cannabis investor and has appeared frequently on CNBC's Fast Money TV show.
The ETF currently has 32 holdings. Its top positions include swaps in Green Thumb Industries, Trulieve Cannabis, Glass House Brands, and Cresco Labs, as well as shares of CuraLeaf. The five positions comprise roughly 59% of the ETF's total assets.
U.S. multi-state operators make up almost 65% of this ETF's total portfolio. Cannabis companies focusing on cultivation and retail comprise nearly 23%.
Related investing topics
6. Cambria Cannabis ETF
Cambria Cannabis ETF (TOKE 1.07%) was formed in 2019. Although it's the smallest of the marijuana ETFs on this list, the fund has the lowest annual expense ratio.
This ETF has 23 holdings. Its top positions include swaps in Glass House Brands, Grown Rogue International (OTC:GRUSF), and Green Thumb Industries, as well as shares of British American Tobacco (BTI -0.7%) and Philip Morris International (PM -0.1%). These five holdings make up almost 31% of the fund's portfolio.
Cambria Cannabis ETF doesn't just focus on pure-play cannabis companies. It also invests in related industries, including food, real estate, and tourism.
