At a glance
MJ charges 0.75% a year, below the 1.12% average of the 1 funds most like it. It has $110.8M in assets; it paid 2.64% of its price in distributions over the past 12 months, annual. Over the past year it returned −32.7% with distributions reinvested (S&P 500: +11.5%); over three years it returned −7.9% a year. At its worst it fell 44.9% in the 2020 crash (S&P 500: 33.7%) and 55.6% in the 2022 bear market (S&P 500: 24.5%).
The short version
Amplify Alternative Harvest ETF (MJ) tracks the Prime Alternative Harvest Index. The index puts half its weight in a sister fund, the actively managed Amplify Seymour Cannabis ETF (CNBS), and half in global cannabis stocks such as Tilray Brands and Cronos Group. As of June 30, 2026, MJ held nine holdings. Its 0.75% expense ratio is below the 1.12% charged by AdvisorShares Pure Cannabis ETF (YOLO), but it fell 95.1% from its 2018 peak.
Price history
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MJ -32.7% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| MJ official prospectus, to Dec 31, 2024 | — | +12.68% | — | -26.79% | -16.09% | -16.40% |
| MJ price data to Oct 27, 2026 | -25.0% | -32.7% | -7.9% | -28.2% | — | -24.0% |
- Over the year to Oct 27, 2026, MJ returned -32.7%.
- Its 5-year annualized return was -28.2%.
- In the 2020 COVID crash it fell 44.9% and regained its old high 9.7 months after the low.
- Its worst full calendar year was 2022 (-56.7%); its best was 2025 (+12.6%).
- The deepest fall in its price history was 95.1% (Sep 20, 2018 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -25.0% | — |
| 2025 | +12.6% | +12.68% |
| 2024 | -24.2% | -24.09% |
| 2023 | -21.4% | -21.50% |
| 2022 | -56.7% | -60.18% |
| 2021 | -16.0% | -21.36% |
| 2020 | -11.6% | -11.43% |
| 2019 | -28.5% | -28.55% |
| 2018 | — | -21.74% |
| 2017 | — | +39.10% |
| 2016 | — | +19.45% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 41.3% over that stretch · deepest drop along the way 44.9%, back to its old high 9.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 53.9% over that stretch · deepest drop along the way 55.6%, not recovered by the end of the data |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.5900 | -84.2% |
| 2024 | $3.7349 | +158.3% |
| 2023 | $1.4458 | -80.6% |
| 2022 | $7.4699 | -39.7% |
| 2021 | $12.3855 | +55.8% |
| 2020 | $7.9518 | -26.7% |
| 2019 | $10.8434 |
What's inside
As of Jun 30, 2026, the fund held 9 securities; the ten largest made up 99.67% of assets. It also reported 26.61% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Amplify Seymour Cannabis ETF | 53.89% | |
| Tilray Brands Inc | 10.03% | |
| Cronos Group Inc | 9.13% | |
| Canopy Growth Corp | 7.88% | |
| SNDL Inc | 6.31% | |
| Village Farms International In | 3.94% | |
| High Tide Inc | 3.42% | |
| Aurora Cannabis Inc | 3.18% | |
| Organigram Global Inc | 1.88% |
By country
United States 53.89%Canada 45.78%By asset type
Stocks 99.67%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $15.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +18.73%, -2.76%, -5.68%.
How it works
MJ is a passive fund. It tries to match the Prime Alternative Harvest Index, not beat it, and it does not move into cash when markets fall. It uses replication, which means it buys the index's securities in roughly the same proportions as the index. It may use a representative sample instead when buying every security is impractical or too costly. It normally keeps at least 80% of net assets in index securities. It is also non-diversified, so a handful of holdings can drive its results.
The index has two halves. Half its weight goes to Amplify Seymour Cannabis ETF (CNBS). CNBS is run by the same adviser, Amplify Investments, and picks U.S. companies that get at least 50% of their revenue from cannabis and hemp. It may also use derivatives. The other half goes to global companies the index treats as "primary" cannabis businesses: firms that earn at least 50% of their revenue from cannabis or hemp, or that describe that business in their filings. As of June 30, 2026, CNBS made up 53.9% of assets, followed by Tilray Brands (10.0%), Cronos Group (9.1%) and Canopy Growth (7.9%).
The fund directly owns only companies whose activities are legal under all national and local laws, including U.S. federal law. So it does not directly own U.S. marijuana growers or distributors, though it may own U.S. hemp businesses. If federal law changes, it may start buying U.S.-listed cannabis companies directly. Portfolio turnover, the share of holdings replaced over a year, was 75%.
What it really costs
- MJ charges 0.75% a year, versus an average of 1.12% for the similar funds below.
- The fee includes a 0.37% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $1,330 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| MJ | $77 | $319 | $581 | $1,330 |
In a retirement portfolio
MJ is a narrow, non-diversified bet on cannabis stocks with very deep past losses, so it fits a small, higher-risk slice of a portfolio rather than its core.
MJ offers targeted exposure to cannabis companies, but its record has been rough. The prospectus shows losses in every calendar year from 2018 through 2024, including -60.18% in 2022, followed by a 12.68% gain in 2025. In the 2020 COVID crash it fell 44.9% and recovered about 10 months later, in January 2021. In the 2022 bear market it fell 55.6% and had not recovered as of October 27, 2026. Its deepest drop, 95.1% from September 2018 to April 2025, had not recovered either. The fund launched in 2015, so it has no record from 2008.
Anyone who has to sell shares in a bad year could lock in large losses. MJ pays once a year, with a trailing yield of 2.64% as of October 27, 2026. It costs 0.75% a year, which the SEC's standard example puts at $77 in the first year on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small cannabis position and can accept a history that includes a 95.1% fall from the 2018 peak to the April 2025 low.
- Those who prefer index-based cannabis exposure at 0.75% a year, below the 1.12% charged by AdvisorShares Pure Cannabis ETF (YOLO).
- Investors who want exposure to a possible change in U.S. federal cannabis law, since the fund could then buy U.S.-listed cannabis companies directly.
Look elsewhere if
- Retirees who may need to sell during downturns: the fund fell 55.6% in 2022 and had not recovered as of October 27, 2026.
- Anyone seeking diversification: as of June 30, 2026, about 54% sat in one fund, CNBS, and the rest in eight Canadian cannabis stocks.
- Income seekers: it pays once a year, yielding 2.64% as of October 27, 2026, and its 62.7% three-year volatility dwarfs that income.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| MJ this fund | — | 0.75% | $110.8M | -32.7% | -7.9% |
| YOLO AdvisorShares Pure Cannabis ETF | 18% | 1.12% | $34.3M | -21.1% | +2.6% |
Questions investors ask
Is MJ a good investment for retirement?
MJ is a high-risk, single-industry fund, so it is more often used as a small side holding than as a core one. The prospectus shows losses every calendar year from 2018 through 2024, including -60.18% in 2022. As of October 27, 2026, it had not recovered from a 95.1% drop that began in September 2018. It costs 0.75% a year and pays once a year. Retirees who may need to sell in a downturn face the risk of locking in deep losses.
What's the difference between MJ and YOLO?
Both own cannabis stocks, but they share only about 18% of their holdings. MJ tracks the Prime Alternative Harvest Index and charges 0.75% a year. AdvisorShares Pure Cannabis ETF (YOLO) charges 1.12%. As of October 27, 2026, YOLO returned -21.1% over one year, compared with -32.7% for MJ. Over three years YOLO returned 2.6% a year, compared with -7.9% for MJ. As of June 30, 2026, MJ had $110.8 million in net assets and YOLO had $34.3 million.
Does MJ pay a dividend?
Yes, but only once a year. Over the 12 months to October 27, 2026, MJ paid about $0.59 per share, a trailing yield of 2.64%. Its holdings are mostly cannabis companies plus another ETF, so payouts can vary a lot from year to year. Income has also been small next to the fund's price swings: its price fell 25% in 2026 through October 27.
Why does MJ hold another ETF?
MJ's index gets its U.S. cannabis exposure by putting 50% of its weight in Amplify Seymour Cannabis ETF (CNBS), an actively managed fund from the same adviser, Amplify Investments. CNBS invests mainly in U.S. companies that earn at least half their revenue from cannabis and hemp, and it may use derivatives. MJ itself does not directly own U.S. marijuana growers or distributors. As of June 30, 2026, CNBS made up 53.9% of MJ's assets.
How much has MJ dropped from its peak?
MJ fell 95.1% from its peak on September 20, 2018, to its low on April 8, 2025, and had not recovered as of October 27, 2026. Over the five years to that date, its price fell 81% in total. The fund has also had sharp rallies, including a 106.22% gain in the quarter ending September 30, 2025. Its worst quarter was -43.18%, in the quarter ending June 30, 2022.