Press Release – AdvisorShares Announces Sub-Advisor Changes to ETFs

 FOR IMMEDIATE RELEASE

Bethesda, MD. — Oct 22, 2021 — AdvisorShares, a leading sponsor of actively managed ETFs, announced today that effective on November 1, 2021, the AdvisorShares Trust’s Board of Trustees has approved sub-advisor changes for the AdvisorShares FolioBeyond Smart Core Bond ETF (FWDB) and the AdvisorShares Sage Core Reserves ETF (HOLD). North Square Investments (North Square) will assume sub-advisor responsibilities for both funds which will be renamed the AdvisorShares North Square McKee ESG Core Bond ETF and the AdvisorShares North Square McKee Core Reserves ETF. FWDB will change its ticker symbol to MENV while HOLD will maintain its current ticker symbol. Headquartered in Chicago, North Square is a multi-boutique manager with a range of equity, fixed income and multi-strategy product offerings.

“The opportunity to partner with North Square and their deep fixed income expertise we feel will benefit prospective allocators and the shareholders of these ETFs,” said James Carl, managing director at AdvisorShares. “We look forward to share more about their portfolio management approach in pursuing the funds’ investment objectives once the sub-advisor changes become effective.”

AdvisorShares is a leading provider of actively managed ETFs. For financial professionals and investors requesting more information, call 1-877-843-3831 or visit www.advisorshares.com. Follow @AdvisorShares on Twitter and Facebook for more insights.

Foreside Fund Services, LLC, distributor.

An investment in the ETFs 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. The Funds may not be suitable for all investors.