MSOS Fees and Costs — AdvisorShares Pure US Cannabis ETF
Data updated: 2026-09-10
The net expense ratio is 0.78% (0.81% before fee waivers). There are no sales loads or redemption fees. In fiscal 2026 the fund paid $402K in broker commissions, 0.0508% of average net assets, and portfolio turnover was 0%.
MSOS Fees and Expenses
Annual operating expenses and sales charges of MSOS. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.60% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.16% |
| Gross expense ratio | 0.81% |
| Fee waiver | −0.03% |
| Net expense ratio | 0.78% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | Yes |
MSOS Costs Over Time
On $10,000 invested in MSOS, assuming 5% a year before costs, total costs come to $521 over 5 years, cutting the return by 0.87% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.78%) | $82 | $256 | $445 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $13 | $48 |
| Total costs | $87 | $286 | $521 |
| Value after costs | $10,413 | $11,290 | $12,241 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
MSOS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0508%
- Total broker commissions: $402K
- Bought from dealers (principal trades, not a cost): $97.8M
- Portfolio turnover (prospectus): 0%
- Securities on loan, average value: $194K
- Net income from securities lending: $5K (0.001% of average net assets)
MSOS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $303K | 75.30% |
| MAREX SPECTRON USA LLC | $78K | 19.27% |
| CLEAR STREET LLC | $22K | 5.43% |
MSOS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| VIRTU AMERICAS LLC | $41.1M | 42.00% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $35.8M | 36.65% |
| Mirae Asset Securities (USA) Inc. | $18.0M | 18.42% |
| Jane Street Execution Services, LLC | $2.9M | 2.93% |
| CLEAR STREET LLC | $17K | 0.02% |
| CANTOR FITZGERALD & CO. | $5 | 0.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.