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(DBIZ) Pring Turner Business Cycle ETF

Overview

How DBIZ Works

The AdvisorShares Pring Turner Business Cycle ETF (NYSE Arca: DBIZ) seeks long-term growth from capital appreciation and income. DBIZ is managed by Pring Turner Capital Group (“Portfolio Manager”). The cornerstone of the portfolio manager’s investment philosophy rests on the core belief of building wealth consistently while minimizing portfolio risk. DBIZ is a multi-asset class fund that dynamically allocates among stocks, bonds, inflation-sensitive securities, and cash.

The Portfolio Manager has developed a pro-active asset allocation and sector rotation process designed around the stage changes in the business cycle. DBIZ’s disciplined decision-making employs multiple layers of input including business cycle, fundamental, and technical analysis. This adaptive approach combines continuous asset allocation changes, diversification with careful sector selections, and income emphasis all designed to make DBIZ a core total return investment for conservative investors.

Fund Documents

Portfolio Manager Commentaries

DBIZ in the News

The following reprints should not be construed as an offer to sell or a solicitation of an offer to buy shares of any other funds. They are provided for informational purposes for AdvisorShares only.
12/31/2013 -

AdvisorShares Press Release, AdvisorShares Announces December 2013 Distributions

02/19/2013 - Ho, Trang. "The Strategy Behind Pring Turner Business Cycle ETF." http://news.investors.com/investing-etfs/021913-644940-pring-turner-ceo-strategy-business-cycle-etf.htm
12/24/2012 -

Lydon, Tom. "AdvisorShares Launches Business-Cycle ETF." etftrends.com.

12/21/2012 - Tran, Hung. "After Banner 2012, What's Next for ETFs?" http://www.financial-planning.com/news/etfs-set-for-big-2013-2682527-1.html?zkPrintable=1&nopagination=1
12/19/2012 - Dutram, Eric. "AdvisorShares Debuts New Business Cycle ETF." http://www.zacks.com/stock/news/88894/advisorshares-debuts-new-business-cycle-etf

Performance -Month-End

DBIZ Performance History (%) as of 09/30/2014
 NAVMarket Price ReturnS&P 500 Index
1 Month-6.53-6.47-1.40
3 Months-6.69-6.851.13
YTD2.462.548.34
1 Year4.534.2919.73
Since Inception
(12/18/2012)
5.205.1821.49

Performance -Quarter-End

DBIZ Performance History (%) as of 09/30/2014
 NAVMarket Price ReturnS&P 500 Index
1 Month-6.53-6.47-1.40
3 Months-6.69-6.851.13
YTD2.462.548.34
1 Year4.534.2919.73
Since Inception
(12/18/2012)
5.205.1821.49

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

The S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. One cannot invest directly in an index.

Fund Distributions

Ex-DateRecord DatePay DateCash DivST Cap GainLT Cap GainReturn of CapitalTotal Distribution
12-24-14
12-29-14
12-31-14
-----
12-24-13
12-27-13
12-31-13
$0.297$0.00$0.00$0.00$0.297/per share
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Why Invest in DBIZ?

  • An ETF Designed to Adapt to the Economy - DBIZ is a way to invest money in a conservative strategy that seeks to adapt to the ever-changing economy and financial markets. DBIZ is an ETF designed to properly position investors for each season of the business cycle.
  • Pring Turner’s Pro-Active Investment Strategy - After exhaustive research of Pring Turner’s “Six-Stage” business cycle strategy, Dow Jones Indexes in 2012 launched the Dow Jones Pring U.S. Business Cycle Index. Dynamic in nature, the index serves as a broad strategic guideline for the DBIZ active asset allocation strategy.
  • Active Strategy Aimed to Guide Investors in Turbulent Times - As explained in Pring Turner’s recent book “Investing in the Second Lost Decade”, the secular bear market for stocks that began in 2000 will continue to frustrate buy and hold investors. DBIZ’s active strategy is designed to help investors survive and prosper during the inevitable boom and bust periods that lie ahead.

5 Key Attributes

  1. Business Cycle Analysis - History shows financial markets follow a rational and logical sequence in a typical business cycle. Pring Turner has organized the business cycle into “Six-Stages” creating a rigorous methodology to pro-actively manage risk and grow wealth through both good and bad parts of the economic and market cycles.
  2. Dynamic Asset Allocation - The current stage of the business cycle determines what asset class (stocks, bonds, inflation-sensitive securities, and cash) to emphasize. DBIZ by design allocates capital to those asset classes and market sectors that have historically outperformed during that stage.
  3. Conservative Investment Discipline - Individual securities are selected based on strong fundamental characteristics of higher quality, compelling value, and income generation. Additional technical analysis tools (inter-market analysis, relative strength and chart interpretation) are employed to reduce portfolio risk during difficult times while building wealth in good periods.
  4. Internationally Recognized Independent Research - Pring Turner utilizes its “Six-Stage” internationally recognized business cycle strategy. The methodology is substantially similar to the investment process developed and utilized by the sub-advisor since 1988, when Martin Pring co-founded Pring Turner Capital Group.
  5. Deep Professional Experience - The principals of Pring Turner with over 115 years of combined investment experience have managed portfolios based on this conservative philosophy and business cycle strategy since 1988. DBIZ is being carefully managed by seasoned investment professionals.

About the Investment Strategist: Martin J. Pring

Mr. Pring is Chairman and Investment Strategist at Pring Turner Capital Group. Martin in collaboration with Dow Jones Indexes co-developed the Dow Jones Pring U.S. Business Cycle Index in 2012, an active index based on his “Six-Stage” business cycle research. Martin founded Pring Research in 1981 and began providing research for financial institutions and individual investors around the world. Since 1984, he has published the Intermarket Review, a monthly global market report. He has written more than 20 books, including Technical Analysis Explained, which has been translated into 10 languages and is required reading for the Chartered Market Technician’s (CMT) designation. Martin has been honored with numerous lifetime achievement awards recognizing his career-long finance and investment research contributions. Mr. Pring has received the Canadian Technical Society’s Jack Frost Memorial Award, the Market Technicians Association’s (New York) coveted Annual Award, has been made an honorary member of the Swiss Technical Society, and recently designated a fellow of the Society of Technical Analysts—United Kingdom. He is frequently invited to speak at professional investment groups around the world.

About the Portfolio Managers

Joe D. Turner - President & Portfolio Manager
Mr. Turner’s responsibilities include oversight of client portfolios, assistance in overall investment strategy, tactical asset allocation decision-making, intermediate trend identification and security selection. Joe began his career with Dean Witter in 1968 and in 1977 formed an investment advisory firm registered with the SEC. In 1988, Martin Pring joined the firm and co-founded Pring Turner Capital Group. Mr. Turner has taught graduate level courses at Golden Gate University in San Francisco on business cycle investing, asset allocation, stock market analysis, and the psychology of investing. Mr. Turner is co-author of a book titled Investing in the Second Lost Decade, published by McGraw-Hill in 2012. He is a graduate of Oregon State University where he received a B.S. in Business Administration.

Tom J. Kopas – Chief Executive Officer & Portfolio Manager
Mr. Kopas’ responsibilities include oversight of client portfolios, assistance in overall investment strategy, tactical asset allocation decision-making, intermediate trend identification, and security selection. He began his career in the financial services industry at Dean Witter in 1981 and spent more than twenty years with major wall street firms. Tom joined the Pring Turner Capital Group team in 2002. He is a career long investment educator and is frequently invited to share his knowledge and experience about investing around the business cycle with investment and retirement groups. Mr. Kopas is co-author of a book titled Investing in the Second Lost Decade, published by McGraw-Hill in 2012. He received a BA degree in Architecture from the University of California at Berkeley.

Jim W. Kopas, CFA – Associate Portfolio Manager
Mr. Kopas is a member of the Investment Committee and Portfolio Management team. Jim’s responsibilities include working in support of proprietary research efforts and portfolio management. Jim has additional duties supervising back office operations and coordinating Global Investment Performance Standards (GIPS®) compliance standards. Jim joined Pring Turner Capital Group in 2009. He earned the Chartered Financial Analyst (CFA) designation in 2013. Jim received his BSC degree in Finance from Santa Clara University in 2008.

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Fund Basics

  • Symbol

    DBIZ

  • Exchange

    NYSE Arca

  • Inception Date

    12.18.2012

  • CUSIP

    00768Y735

  • Indicative Value

    DBIZ.IV

  • Options

    No

Manager Minutes, October 2014

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Price History

As of: 10/20/2014
NAV$26.29Closing Price$26.28
Change$0.12Change$0.14
Shares Outstanding200,000Volume402
4PM Bid/Offer Midpoint$26.28Premium/Discount$-0.01
Assets Under Management$5,257,603.24
Premium/Discount Historical Data

 

Top Holdings

As of: 10/20/2014
Ticker Name Weight
--- DREYFUS GOV CASH MGMT 672 10.72%
HYLD ADVSHRS PERITUS HIGH YIELD 4.64%
INTC INTEL CORP 3.05%
DBA POWERSHARES DB AGRICULTURE F 2.56%
MSFT MICROSOFT CORP 2.51%
RGLD ROYAL GOLD INC 2.49%
FNV FRANCO-NEVADA CORP 2.49%
UNP UNION PACIFIC CORP 2.44%

Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times. Holdings and allocations are subject to risks and to change. A holding identified with an "MM" at the end of its name indicates it is a Money Market fund.

Fees & Expenses

  • Management Fee

    1.00%

  • Other Expenses

    3.70%

  • Acquired Fund Fees

    0.12%

  • Gross Expense Ratio

    4.82%

  • Fee Waiver and/or Expense Reimbursement

    3.21%

  • Net Expense Ratio

    1.61%*

  • *The Advisor has contractually agreed to keep net expenses from exceeding 1.49% of the Fund’s daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual reapproval of the agreement by the Board of Trustees. This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Expenses."