Share-split context: A reverse split was recorded on Feb 21, 2025 with coefficient 0.083333. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

ETF Education Report: Amplify Alternative Harvest ETF (MJ)

What this ETF is trying to do

The Amplify Alternative Harvest ETF, which uses the ticker symbol MJ, is an exchange-traded fund (ETF). Based on its name and holdings, it focuses on the cannabis industry. It holds a small number of different investments to provide exposure to this specific sector.

What the numbers show

The current price of one share is $24.37. When looking at how the fund has performed, it is important to look at both price returns and total returns.

• Price Return: This measures only the change in the share price. The year-to-date (YTD) price return is approximately -18.19%. Over the last year, the price return was approximately -37.09%. Over the last three years, the price return was approximately -39.56%.

• Total Return: This includes the change in share price plus any distributions (cash paid out). The YTD total return is approximately -18.19%. The one-year total return was approximately -35.85%. The three-year total return was approximately -32.56%.

Because this ETF has a history of reverse splits, we use split-adjusted returns to understand its performance. In a reverse split, multiple old shares are combined into fewer new shares. This causes the price per share to rise mechanically, but it does not increase the actual value of the investment.

Income and distribution explanation

This ETF has a distribution yield of approximately 2.43%. This means the fund paid out $0.59 per share in trailing distributions. The distribution frequency is described as "irregular" or "less frequent," with only one payout recorded in the last 12 months. It is important to remember that a distribution yield is not the same as a total return.

NAV erosion explanation

This ETF has a "severe erosion-risk flag." This means that StockValueFinder's screening rules detected significant price deterioration. The fund has an erosion-risk score of 30, which is labeled as "significant price erosion."

"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). While a falling market price does not always prove NAV erosion, the high erosion-risk score and the severe erosion-risk flag serve as warnings regarding the fund's price trends.

Top Holdings

The following are the top holdings in this portfolio (as of October 8, 2026):

• AMPLIFY SEYMOUR CANNABIS ETF: 50.99%

• TILRAY BRANDS INC: 9.87%

• SNDL INC ORDINARY SHARES: 5.81%

• VILLAGE FARMS INTERNATIONAL INC: 5.63%

• INVESCO SHRT-TRM INV GOV&AGCY INSTL: 0.48%

Pros

• Provides specific exposure to the cannabis industry through a single fund.

Cons

• The fund shows significant price deterioration over the one-year and three-year periods.

• It carries a severe erosion-risk flag.

• The total return over five years is approximately -84.35%.

Beginner takeaway

When looking at ETFs like MJ, it is important to look beyond just the distribution yield. High yields can exist even when the share price is falling significantly. Investors should pay close attention to erosion-risk scores and total return figures to understand the full picture of how an investment is performing.