AdvisorShares Press Release, AdvisorShares Announces February 2015 Distributions
The investment objective of the AdvisorShares Madrona Global Bond ETF (NYSE Arca: FWDB) seeks investment results that exceed the price and yield performance of its benchmark, the Barclays Capital Aggregate Bond Index. FWDB is sub-advised by Madrona Funds, LLC ("Portfolio Manager"). The Portfolio Manager seeks to achieve this objective by selecting a diversified portfolio of fixed income exchange-traded products (ETPs), including but not limited to, exchange-traded notes (ETNs), exchange-traded currency trusts and exchange-traded commodity pools. FWDB invests in at least 12 distinct global bond classes that cover the entire global investable bond universe. The Portfolio Manager constructs FWDB’s portfolio using a weighted allocation system based on historic yield curve analysis and a mean reversion strategy.
|Avg Weighted Coupon||4.53%|
|Avg Yield to Maturity||4.23%|
|Avg Duration||6.19 years|
|30-Day SEC Subsidized Yield||2.77%|
|30-Day SEC Unsubsidized Yield||2.64%|
Past Performance is not indicative of future results. FWDB statistics and bond sector allocation are for the actual FWDB security holdings as of the listed date, excluding cash. Average Weighted Coupon is the average interest rate paid on the bonds held in the portfolio, calculated by weighting each bond's coupon by its relative size in the portfolio. Average Yield to Maturity is the market-weighted yield of the holdings in the portfolio, if held until the maturity date. Average Duration is a way of estimating the sensitivity of the value of a bond portfolio to changes in interest rates. Average duration for a portfolio is calculated as the average of the durations of the bonds in the portfolio, weighted according to the price of each bond. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.
|NAV||Market Price Return||Barclays Capital Aggregate Bond Index|
|NAV||Market Price Return||Barclays Capital Aggregate Bond Index|
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 Barclays Capital Aggregate Bond Index measures the performance of the U.S. investment grade bond market. One cannot invest directly in an index.
|Ex-Date||Record Date||Pay Date||Cash Div||ST Cap Gain||LT Cap Gain||Return of Capital||Total Distribution|
Brian K. Evans, CPA/PFS – Founder/Managing Member/Portfolio Manager
Mr. Evans founded Madrona Funds, LLC in September, 2010. He is primarily responsible for operational management as well as implementation and development of investment strategies for Madrona Funds, LLC. Brian is President and owner of Bauer Evans, Inc. P.S. (“Bauer Evans”), and has been a CPA for 24 years. Bauer Evans is one of the largest certified public accounting firms in Snohomish County, Washington serving over 1,200 clients.
Brian is also Principal and owner of Madrona Financial Services, LLC (“Madrona Financial Services”). Madrona Financial Services is an independent registered investment advisor offering comprehensive global investment services. Madrona Financial Services was ranked by Financial Advisor Magazine as one of the top 25 fastest growing companies in its class in the country for 3 consecutive years, 2005-2007.
Robert W. Bauer, CPA – Member/Portfolio Manager
Mr. Bauer joined Madrona Funds, LLC at its inception in September, 2010. He is primarily responsible for the implementation and development of investment strategies for Madrona Funds, LLC. Bob attended the University of Washington and received a Bachelors of Arts Degree in Political Science, later attending Seattle University, Golden Gate University and the University of Washington for Masters courses in Business, Taxation, Special Education and Broadcast Journalism. After 13 years in the public accounting field, Bob started his own CPA firm, which later became Bauer Evans when Brian Evans joined him. Bob also holds his Series 65 license as an investment adviser representative for Madrona Financial Services.
Kristi R. Henderson, CPA/PFS – Member/Portfolio Manager
Mrs. Henderson joined Madrona Funds, LLC at its inception in September, 2010 and is a CPA for Bauer Evans. She is primarily responsible for the implementation and development of investment strategies for Madrona Funds, LLC. As an Academic All-American nominee for the University of Oregon softball team, Kristi graduated with honors in June, 2007 and received a degree in accounting while also taking numerous finance classes. She holds her Series 65 license as an investment advisor representative for Madrona Financial Services where she helped create securities trades, ran the performance software and performed various other duties.
|4PM Bid/Offer Midpoint||$25.37||Premium/Discount||$0.02|
|Assets Under Management||$20,283,967.07|
|Premium/Discount Historical Data|
|LQD||ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND||12.03%|
|VMBS||VANGUARD MORTGAGE-BACKED SECURITIES ETF||9.90%|
|PGF||POWERSHARES FINANCIAL PREFRD||9.39%|
|HYLD||ADVSHRS PERITUS HIGH YIELD||7.94%|
|BKLN||POWERSHARES SENIOR LOAN PORTFOLIO||7.82%|
|CWB||SPDR BARCLAYS CONVERTIBLE SECURITIES ETF||6.86%|
|PCY||POWERSHARES EMERGING MARKETS SOVEREIGN DEBT||5.99%|
|PICB||POWERSHARES INT CORP BOND||4.84%|
|HYMB||SPDR NUVEEN S&P HIGH YIELD M||4.50%|
|WIP||SPDR DB INTERNATIONAL GOVERNMENT INFLATION||4.00%|
|EMCB||WISDOMTREE EM CORP BOND||3.98%|
|PFIG||POWERSHARES FNDMNL INVST GRA||3.97%|
|STPZ||PIMCO 1-5 YEAR US TIPS INDEX||3.97%|
|VGLT||VANGUARD LONG-TERM GOVERNMENT BOND ETF||3.07%|
|VGIT||VANGUARD INTERMEDIATE-TERM GOVERNMENT BOND ETF||3.00%|
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.
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Fee Waiver and/or Expense Reimbursement
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