Best-Performing Marijuana and Cannabis ETFs (April 2026)

Marijuana exchange-traded funds give you the chance to invest in a range of cannabis-related companies. But don’t expect stability from these budding funds.

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Updated Apr 23, 2026 · 2 min read Written by Managing Editor + more + more Edited by Head of Content, Investing & Taxes SOME CARD INFO MAY BE OUTDATED

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Individual marijuana stocks tend to get most of the attention, but marijuana ETFs — which let you invest in multiple companies across the industry’s verticals, from product development to consumption — may be a better fit for some investors. For example, by purchasing a share of the AdvisorShares Pure US Cannabis ETF (MSOS), the largest cannabis ETF by assets under management, you gain exposure to companies across the marijuana industry, including Curaleaf, Trulieve Cannabis Corp., Green Thumb Industries, Verano, Glass House Brands and Cresco Labs. Marijuana ETFs also help spread risk across multiple companies and segments, rather than concentrating it in a single stock. This approach, known as diversification, is a core investing principle and is especially important in a relatively new and volatile sector like cannabis, where headlines can send stocks soaring — or cause their collapse. Most recently, the Justice Department announced a new rule that moves FDA-approved medical marijuana and that which is sold in a state where it's legal from a Schedule I drug to a Schedule III drug . As would be expected, this was a boon to pot stocks across the industry, as you'll see in the table below. » MORE: See the best ETFs tracking popular indexes » MORE:

Best-performing marijuana ETFs

Below are the cannabis ETFs available to U.S. investors (excluding the over-the-counter market) with positive returns as of April 2026. Ticker Company Performance (Year) The best-performing cannabis ETF by one-year return is AdvisorShares Pure US Cannabis ETF (MSOS), which is up 116.46%. MSOS AdvisorShares Pure US Cannabis ETF 114.46% WEED Roundhill Cannabis ETF 115.14% YOLO AdvisorShares Pure Cannabis ETF 101.73% CNBS Amplify Seymour Cannabis ETF 90.68% MJ Amplify Alternative Harvest ETF 65.95% TOKE Cambria Cannabis ETF 21.58% Source: Finviz. Data is current as of April 23, 2026, and is intended for informational purposes only.

Marijuana ETFs vs. stocks

There are hundreds of cannabis stocks to choose from, many of them risky penny stocks or stocks of companies with extremely small market capitalizations. Given the industry’s young age, there’s ample room for shakeouts that could significantly affect a stock’s price. There will likely be many losers, and it’s hard to predict how many potential winners there will be. The current state of the industry makes an already risky strategy — picking individual stocks — even riskier. Marijuana ETFs still come with considerable risk, but you’ll at least broaden your exposure to dozens of companies. If one company in the fund fails, ideally those losses will be offset by another company’s success. It’s true that you could miss out on the sky-high returns of an individual breakout stock, but investing in ETFs could help you avoid the significant losses investors are likely to see in such an unproven industry. » Need a brokerage account? Here are the best brokers for ETFs » Need a brokerage account? Brokerage firms

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So, are marijuana ETFs still risky?

Investing in cannabis — including cannabis ETFs — still comes with considerable risk. While regulatory risk appears to be a lesser concern these days, the sheer unpredictability in business models and operations of such a young industry could significantly and quickly alter the future landscape and, in turn, the value of marijuana stocks and ETFs.

Regulation

While recreational marijuana consumption and possession are now legal in several states (and medical marijuana is legal in even more), in the eyes of the federal government, it’s still an illegal substance. The recent shift from Schedule I to Schedule III will open up more avenues for medical research and commercialization, but it stops short of full, federal recreational legalization.

Financing and banking

While the earliest dispensaries and marijuana businesses may have struggled to secure traditional financing and banking services, that isn’t as much of a concern today, and further change could be on the horizon. The Secure and Fair Enforcement Regulation Banking Act was reintroduced in the House in 2023 but has still not been passed into law. If it becomes law (and the latest news from the Justice Department could signal more urgency to move on the proposed legislation), it would help protect depository institutions that supply financial services to marijuana companies. still The number of depository institutions providing banking services to marijuana companies has certainly increased over the years. Still, many of these developments aren't yet concrete, and the full landscape is still being formed.

Volatility

If you’re a new investor or are looking for predictability, there are other index funds and ETFs better suited for you. But if you’re willing to stomach the volatility of an uncertain market in exchange for getting in at an extremely early stage — and your portfolio is in a well-diversified, healthy state — you may have a case for investing in cannabis ETFs. Learn more about sector ETFs: Learn more about sector ETFs: Why gold ETFs are having a record year Understand S&P 500 ETFs Invest abroad? Check out China ETFs Neither the author nor editor held positions in the aforementioned investments at the time of publication. Neither the author nor editor held positions in the aforementioned investments at the time of publication. Article sources NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines. U.S. Justice Department. Justice Department Places FDA-Approved Marijuana Products and Products Containing Marijuana Subject to a Qualifying State-issued License in Schedule III, Strengthening Medical Research While Maintaining Strict Federal Controls. About the author Chris Davis Chris Davis is a Managing Editor on the Investing team. He has passed the Series 65 (Uniform Investment Adviser Law Exam) and covered the stock market, investing strategies, investment accounts and cryptocurrency. His work has appeared in The Associated Press, The Washington Post, MSN, Yahoo Finance, MarketWatch, Newsday and TheStreet. See full bio. Helpful resources Index Funds vs. Mutual Funds: The Differences That Matter Best Mutual Funds for May and How to Invest The Best ETFs and How to Start Investing 14 Best-Performing and Affordable ESG ETFs for 2026 More like this Best IRA Accounts for 2026 By Alana Benson Best Roth IRA Accounts for 2026 By Alana Benson Best Brokerage Accounts for Online Investing and Stock Trading in 2026 By Chris Davis