SURE
Follow the Insiders.
Insider Advantage ETF
Overall Morningstar Rating ™
QPX
Pursue Growth. Respect Risk.
Q Dynamic Growth ETF
Overall Morningstar Rating ™
PSIL
Mind-Altering Innovation
Psychedelics ETF
DWSH
Tactical Downside Positioning
Dorsey Wright Short ETF
MSOS
America’s Cannabis Frontier
Pure US Cannabis ETF
HVAC
Where Infrastructure Meets Innovation
HVAC and Industrials ETF
DWAW
Global Momentum Rotation
Dorsey Wright FSM All Cap World Equity ETF
AADR
World Innovators in Motion
Dorsey Wright ADR ETF
YOLO
Cannabis Without Borders
Pure Cannabis ETF
New | Whitepaper
Federal Cannabis Rescheduling
A Structural Shift and Its Investment Implications
Federal reclassification of state-licensed medical cannabis from Schedule I to Schedule III changes the operating framework for the companies working within it. This paper examines what a shift of this kind may mean for taxation, capital access, and the way investors evaluate the sector — and what it could signal for the direction of the industry from here.
Streaming on All Platforms:
DAILY at 12:00 pm ET
Each weekday at 12:00 pm ET, join us live for the AdvisorShares AlphaNooner where we discuss timely topics. Past discussions have included swaps, portfolio risk, hedged equity, cannabis, bonds, interest rates, and more.
Live questions are welcome from Facebook, LinkedIn, and YouTube!
ETF
Thematic
AdvisorShares offers a series of actively managed, thematic ETFs that seek to provide concentrated equity exposure to durable and innovative investment themes that can drive market trends and serve as alpha-seeking complements or satellite equity holdings to a broad-based equity allocation.
<strong>Domestic</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| MSOS | NYSE Arca | Pure US Cannabis ETF |
| MSOX | NYSE Arca | MSOS Daily Leveraged ETF |
| SURE | NYSE Arca | Insider Advantage ETF |
<strong>Global</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| HVAC | NYSE Arca | HVAC and Industrials ETF |
| PSIL | NYSE Arca | Psychedelics ETF |
| YOLO | NYSE Arca | Pure Cannabis ETF |
<strong>Multi-Thematic</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| GK | NYSE Arca | Gerber Kawasaki ETF |
ETF
Equity
AdvisorShares offers a variety of actively managed equity ETFs that provide diversification across accomplished portfolio managers and domestic and international investment strategies.
With varying investment approaches, styles, and capitalizations, our equity ETFs can be used as core equity positions or as alpha-seeking complements to core equity positions.
<strong>Concentrated</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| AADR | Nasdaq | Dorsey Wright ADR ETF |
| CWS | NYSE Arca | Focused Equity ETF |
<strong>Diversified</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| DWAW | Nasdaq | Dorsey Wright FSM All Cap World ETF |
| DWUS | Nasdaq | Dorsey Wright FSM U.S. Core ETF |
<strong>Alternative</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| DWSH | Nasdaq | Dorsey Wright Short ETF |
| HDGE | NYSE Arca | Ranger Equity Bear ETF |
ETF
MULTI-ASSET
AdvisorShares offers single actively managed ETF solutions that can allocate across multiple asset classes seeking to mitigate overall investment risk and that we believe can serve as a core total return position.
<strong>Tactical Equity</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| QPX | NYSE Arca | Q Dynamic Growth ETF |
<strong>Total Return</strong>
| Symbol | Exchange | ETF |
|---|---|---|
| VEGA | NYSE Arca | STAR Global Buy-Write ETF |
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus or summary prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus and summary prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor.
An investment in the Funds is subject to risk, including the possible loss of principal amount invested. The risks associated with each Fund include the risks associated with the underlying ETFs, which can result in higher volatility, and are detailed in each Fund’s prospectus and on each Fund’s webpage.
Definitions
Alpha, one of the most commonly quoted indicators of investment performance, is defined as the excess return on an investment relative to the return on a benchmark index
The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the bottom 10% receive one star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three- and five-year Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns.
©2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
QPX received four stars for the overall rating among 224 funds, five stars for the 3-year rating among 224, and four stars for the 5-year rating among 201 funds in Morningstar’s Tactical Allocation category as of July 31st, 2026.
SURE received four stars for the overall rating among 365 funds, four stars for the 3-year rating among 365 funds, five stars for the 5-year rating among 346 funds, and four stars for the 10-year rating among 264 funds in Morningstar’s Mid-Cap Blend category as of July 31st, 2026.