04/29/2013 - "Tomorrow in :30: Consumer Confidence & Home Prices." http://video.cnbc.com/gallery/?video=3000164753
(MATH) Meidell Tactical Advantage ETF
Overview
How MATH Works
The AdvisorShares Meidell Tactical Advantage ETF (NYSE: MATH) seeks to provide long-term capital appreciation and capital preservation. MATH is sub-advised by American Wealth Management (Portfolio Manager). The Fund is considered a “fund-of-funds” that seeks to achieve this investment objective by managing a tactical strategy that has the ability to dynamically rebalance the Fund’s portfolio from as much as 100% equity assets to 100% fixed income assets or cash and cash equivalents depending on market trends. The Fund employs a long tactical strategy that seeks to minimize portfolio losses by rotating out of higher volatility assets and lower volatility assets depending on the Fund’s current view of risks in different asset classes.Fund Documents
Financial Professional Documents
Portfolio Manager Commentaries
- May 2013 Portfolio Manager's Commentary
This document is for logged in users only. Please login or register for access. - Week of May 6, 2013- Portfolio Manager's Commentary
This document is for logged in users only. Please login or register for access.
Portfolio Manager's Video
MATH 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.
02/14/2013 - Tomorrow in :30. "Europe, Consumer Sentiment and Business Spending." http://video.cnbc.com/gallery/?play=1&video=3000147886
12/28/2012 -
AdvisorShares Press Release, AdvisorShares Announces December 2012 Distributions
12/18/2012 - "Tomorrow in 30: Fiscal Cliff, Econ Data & The Market." http://video.cnbc.com/gallery/?video=3000136312&play=1
11/13/2012 - "Tomorrow in 30: Retail Sales & the Fed." http://video.cnbc.com/gallery/?video=3000129177&play=1
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Performance -Quarter-End
MATH Performance History (%) as of 03/31/2013
| NAV | Market Price Return | S&P 500 Index | |
|---|---|---|---|
| 1 Month | 4.17 | 4.09 | 3.75 |
| 3 Month | 9.29 | 10.29 | 10.61 |
| YTD | 9.29 | 10.29 | 10.61 |
| 1 Year | 6.17 | 6.18 | 13.96 |
| Since Inception (06/22/2011, Annualized) | 7.72 | 7.75 | 14.33 |
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.
Performance -Month-End
MATH Performance History (%) as of 04/30/2013
| NAV | Market Price Return | S&P 500 Index | |
|---|---|---|---|
| 1 Month | 0.60 | 0.53 | 1.93 |
| 3 Month | 5.46 | 5.34 | 7.18 |
| YTD | 9.94 | 10.87 | 12.74 |
| 1 Year | 7.94 | 7.71 | 16.89 |
| Since Inception (06/22/2011, Annualized) | 7.71 | 7.70 | 14.82 |
Fund Distributions
| Ex-Date | Record Date | Pay Date | Cash Div | ST Cap Gain | LT Cap Gain | Return of Capital | Total Distribution |
|---|---|---|---|---|---|---|---|
12-27-13 | 12-31-13 | 01-03-14 | - | - | - | - | - |
12-27-12 | 12-31-12 | 01-03-13 | $0.234 | $0.00 | $0.00 | $0.00 | $0.234/per share |
12-28-11 | 12-30-11 | 01-04-12 | $0.018 | $0.00 | $0.00 | $0.00 | $0.018/per share |
Why Invest in MATH
- An ETF Strategy that Seeks to Adjust to the Economy - The MATH strategy seeks to improve risk adjusted returns and minimize losses through its model asset allocation (how much should be in stocks, bonds, etc), security selection (large vs. small cap), increased exposure to areas of the market that are in favor and moving to a defensive position when markets decline.
- Quantitative Tactical Investing Process - The MATH investing process uses a data smoothing process which combines two well researched concepts (1) relative strength and (2) moving averages into one mathematical formula. The result is a quantitative methodology that seeks to identify assets with best characteristics of long-term, durable trends.
- Minimize Losses - MATH’s disciplined sell strategy of moving into defensive positions when the Portfolio Manager believes there are significant risks in the equity markets was created for clients who want to minimize losses. MATH could be used as a core holding for the more risk adverse investor or as a compliment holding to the more growth oriented investor who is interested in reducing their equity exposure during protracted market declines.
5 Key Attributes
- Quantitative Tactical Methodology - The Portfolio Manager uses a quantitative tactical methodology that seeks to identify the ETFs and exchange-traded products (ETPs) believed to be participating in long-term “durable trends” within the market. This model enables the Portfolio Manager to evaluate, rank and select the appropriate mix of investments in given market conditions while remaining objective and unemotional.
- Velocity Measurements - MATH’s quantitative process measures price velocity to determine which assets to invest in. This unique process allows the portfolio to adapt to prevailing market trends that are more likely to endure. Because MATH’s velocity measurement normalizes price, investments can be compared against each other. When price velocity is calculated for each asset within a diverse group of investments, it can be used to help determine when and where and how much the portfolio should be invested in equities versus fixed income for instance.
- Portfolio Diversification - MATH is a “fund-of-funds” that primarily invests in other ETFs that offer diversified exposure to global regions, countries, styles (market capitalization, value, growth, etc.) or sectors. MATH primarily invests in U.S.-listed domestic and foreign equity, fixed income, and commodity ETFs and ETPs.
- Dynamic Rebalancing - MATH will increase (Buy) its exposure to equity or commodity ETFs and ETPs when the model indicates that the applicable market or sector presents opportunity for growth and appreciation. Conversely, MATH will reduce (Sell) investment exposure to, equity or commodity ETFs and ETPs in favor of fixed-income ETFs or ETPs or cash when the model indicates that such markets have become or are becoming risky.
- Portfolio Concentration Guidelines - Depending on the economic and market climate, MATH may increase or decrease portfolio concentrations within the following ranges: Foreign 0% - 50%; Large Cap 0% - 50%; Mid Cap 0% - 30% ; Small Cap 0% - 30%; Commodities 0% - 20%; Currencies 0% - 10%.
About the Portfolio Manager
Laif Meidell, Founder and Portfolio Manager
Mr. Meidell is a Portfolio Manager of American Wealth Management’s separate accounts. Prior to joining American Wealth Management in 1995, Mr. Meidell was an active duty officer in the U.S. Army. He graduated with Honors from the Regis University (Denver, CO) with an MBA in Finance and Accounting in 1993.
Mr. Meidell received his B.S. in Finance from Brigham Young University (Provo, UT) in 1989. He holds the Series 7, 63, and 65 licenses. He is a Chartered Market Technician (CMT) and an Accredited Investment Fiduciary (AIF).
Fund Basics
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Symbol
MATH
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Exchange
NYSE Arca
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Inception Date
06/22/2011
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CUSIP
00768Y826
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Indicative Value
MATH.IV
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Options
No
Manager Minutes, May 2013
Price History
As of: 05/16/2013
| NAV | $29.13 | Closing Price | $29.30 |
| Change | $-0.14 | Change | $0.09 |
| Shares Outstanding | 300,000 | Volume | 1,100 |
| 4PM Bid/Offer Midpoint | $29.13 | Premium/Discount | |
| Assets Under Management | $8,740,436.86 | ||
| Premium/Discount Historical Data | |||
Top Holdings (Log in above to view all holdings)
As of: 05/16/2013
| Ticker | Name | Weight |
|---|---|---|
| IVV | ISHARES CORE S&P 500 ETF | 33.72% |
| IVE | ISHARES S&P 500 VALUE INDEX | 9.65% |
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
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Management Fee
1.20%
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Other Expenses
2.49%
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Acquired Fund Fees
0.23%
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Gross Expense Ratio
3.92%
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Fee Waiver and/or Expense Reimbursement
2.34%
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Net Expense Ratio
1.58%*
- *The Advisor has contractually agreed to keep net expenses from exceeding 1.35% 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.”