Cannabis is projected to be a $134.4 billion global market by 2030, according to Grand View Research. The industry is expected to grow by an impressive compound annual growth rate of 25.3%.
Investors have several ways to potentially profit from this tremendous growth. You could invest in specific marijuana stocks, but another alternative is to invest in exchange-traded funds (ETFs) that focus on cannabis.
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 seven top marijuana ETFs ranked by assets under management.
| ETF | Assets Under Management | Net Expense Ratio |
|---|---|---|
| AdvisorShares Pure U.S. Cannabis ETF (NYSEMKT:MSOS) | $843.7 million | 0.83% |
| Amplify Alternative Harvest ETF (NYSEMKT:MJ) | $224.9 million | 0.78% |
| Amplify U.S. Alternative Harvest ETF (NYSEMKT:MJUS) | $112.3 million | 0.75% |
| Global X Marijuana Life Sciences Index ETF (OTC:HMLSF) | $77.4 million | 0.95% |
| AdvisorShares Pure Cannabis ETF (NYSEMKT:YOLO) | $42.6 million | 1.03% |
| Amplify Seymour Cannabis ETF (NYSEMKT:CNBS) | $27.8 million | 0.77% |
| Cambria Cannabis ETF (NYSEMKT:TOKE) | $16.3 million | 0.42% |
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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 1.14%). It's the first ETF to focus exclusively on the U.S. cannabis market.
AdvisorShares Pure U.S. Cannabis ETF currently owns 25 U.S. marijuana stocks. Its top holdings include Green Thumb Industries (GTBIF -0.6%), Trulieve Cannabis (TCNNF -0.25%), Curaleaf Holdings (CURLF 2.44%), Verano Holdings (OTC:VRNO.F), and Cresco Labs (CRLBF 4.18%). Together, the five U.S. cannabis operators make up more than 82% of the ETF's total portfolio.
It's possible that the ETF's concentration 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 -2.25%) 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 24 individual stocks. Its top stock holdings include Innovative Industrial Properties (IIPR 0.0%), Tilray Brands (TLRY 0.49%), SNDL (SNDL 1.15%), Cronos Group (CRON 0.0%), and Canopy Growth (CGC 2.13%). The five positions combined make up close to 31% of the ETF's total assets. Roughly 48% of the ETF is also invested in its sister fund, Amplify U.S. Alternative Harvest ETF (NYSEMKT:MJUS).
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. Amplify U.S. Alternative Harvest ETF
Amplify U.S. Alternative Harvest ETF is one of the newest marijuana ETFs and was launched in 2021. As its name indicates, the fund focuses on U.S. cannabis companies.
The ETF currently owns eight individual stocks plus swap positions (derivative contracts where the values of one asset are swapped for another) in 11 stocks. Its top holdings include swap positions in Trulieve Cannabis, Green Thumb Industries, Verano Holdings, and Cresco Labs and shares of Curaleaf Holdings. These positions make up 65% of the total portfolio.
The fund also is invested heavily in short-term U.S. Treasury bonds, which currently offer attractive yields. Treasuries make up more than 44% of its total portfolio.
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4. Global X Marijuana Life Sciences Index ETF
Although Global X Marijuana Life Sciences Index ETF (HMLSF 0.0%) 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 Innovative Industrial Properties, Cronos Group, Jazz Pharmaceuticals (JAZZ 0.4%), Scotts Miracle-Gro (SMG -0.37%), and Tilray Brands.. Together, these five stocks represent roughly 65% 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.
5. 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 2.07%) doesn't limit itself to the U.S. Instead, it focuses on the global cannabis market.
The ETF currently has 22 stock holdings. Almost 49% of its assets are invested in the AdvisorShares Pure U.S. Cannabis ETF. The top five individual stocks in its portfolio are High Tide (HITI 1.92%), Village Farms International (VFF -0.97%), Cardiol Therapeutics (CRDL 0.45%), SNDL, and Cronos Group. The stocks make up nearly 33% of the ETF's total holdings.
The AdvisorShares ETF could be an attractive alternative to investors who want exposure outside of the U.S. but still want a heavier weighting to U.S. stocks.
6. Amplify Seymour Cannabis ETF
Amplify Seymour Cannabis ETF (CNBS 0.77%) 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 30 holdings. Its top positions include swaps in Trulieve Cannabis, Green Thumb Industries, and Cresco Labs and shares of Innovative Industrial Properties and Tilray Brands. The five positions comprise nearly 54% of the ETF's total assets.
U.S. marijuana stocks make up nearly 72% of this ETF's total portfolio. Most of the remaining portfolio consists of Canadian pot stocks, with a small percentage invested in the stocks of cannabis companies based in Ireland.
7. Cambria Cannabis ETF
Cambria Cannabis ETF (TOKE -1.08%) 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 26 holdings. Its top positions include swaps in Glass House Brands (OTC:GLASF), Grown Rogue International (OTC:GRUSF), Green Thumb Industries, and Trulieve Cannabis. It also owns shares of SNDL. These five holdings make up nearly 35% of the fund's portfolio.
Cambria Cannabis ETF doesn't only focus on pure-play cannabis companies. It also invests in related industries, including food, real estate, and tourism.
