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.

What this ETF is trying to do

The Amplify Alternative Harvest ETF (MJ) is an exchange-traded fund that invests in companies related to the cannabis industry. Based on its holdings, it focuses on cannabis brands and other related businesses.

What the numbers show

The share price of MJ is $24.37 as of October 7, 2026. The fund has experienced a significant decline in price over several timeframes:

• Year-to-Date: The price return is -18.19%.

• One Year: The price return is -37.09%.

• Three Year: The price return is -39.56%.

• Five Year: The total return is -84.35%.

The fund has a history of a reverse split, the most recent occurring on February 21, 2025. In a reverse split, multiple old shares are combined into fewer new shares, which mechanically raises the quoted per-share price. This mechanical increase does not restore lost investment value.

Income and distribution explanation

MJ provides a distribution yield of approximately 2.43%. Over the last 12 months, it has made one payout. The distribution frequency is described as irregular or less frequent.

It is important for new investors to remember that a distribution yield is not the same as a total return. While the fund pays out cash, the total return (which includes both price changes and distributions) has been negative over the one-year (-35.85%) and three-year (-32.56%) periods.

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

However, the data shows a severe erosion-risk flag. This warning was triggered because of the split-adjusted price trend and an erosion score of 30, which is labeled as "significant price erosion." This means the market price of the ETF has dropped substantially over time.

Top Holdings

As of October 8, 2026, the fund holds five assets. The largest holdings include:

• Amplify Seymour Cannabis ETF (CNBS): 50.99%

• Tilray Brands Inc (TLRY): 9.87%

• SNDL Inc (SNDL): 5.81%

• Village Farms International Inc (VFF): 5.63%

• Invesco Shrt-Trm Inv Gov&Agcy Instl (AGPXX): 0.48%

Pros

• Provides a way to gain exposure to the cannabis sector through a single fund.

• Offers some cash distributions to shareholders.

Cons

• Has experienced significant price declines over one, three, and five years.

• Has a "significant" price erosion label and a severe erosion-risk flag.

• Distributions are irregular and infrequent.

Beginner takeaway

The Amplify Alternative Harvest ETF (MJ) allows investors to track the cannabis industry. While it pays a small distribution, the share price has fallen significantly over the long term. Investors should be aware that a high or steady distribution does not guarantee that the original investment value is preserved.