(AADR) DORSEY WRIGHT ADR ETF

AADR

Overview

The AdvisorShares Dorsey Wright ADR ETF (Ticker: AADR) is an actively managed strategy that seeks long-term capital appreciation using a technical, systematically-driven investment approach that seeks to outperform international benchmarks such as the MSCI EAFE Index and the BNY Mellon Classic ADR Index. AADR is managed by Dorsey, Wright & Associates, LLC, a firm renowned for their core philosophy of relative strength investing, which AADR’s investment focus follows. Relative strength investing involves buying securities that have appreciated in price more than the other securities in their investment universe and holding those securities until they exhibit sell signals. AADR’s investment process is purely systematic and removes any human emotion from the day-to-day decision making.

In implementing AADR’s strategy, Dorsey Wright measures relative strength across both macroeconomic sector and international equity models and then takes an unconstrained approach to selecting securities for its international portfolio. The investment strategy does not give consideration to the allocation between developed and emerging markets, and will allocate between the two depending on global price trends.

Symbol Exchange Inception Date CUSIP NAV
AADR Nasdaq 7/20/2010 00768Y206 AADR.NV
<strong>Why Invest in AADR?</strong>

AADR can serve as an alpha-seeking complement to a broad-based market cap weighted position, such as a fund that tracks the MSCI EAFE Index, as well as a standalone investment solution for international equity exposure.

<strong>5 Key Attributes</strong>
  1. Concentrated Portfolio of Highest-Ranked – AADR typically has a portfolio of less than 40 equities that demonstrate favorable relative strength characteristics according to Dorsey Wright’s proprietary macroeconomic sector ranking and individual stock rotation methodology.
  2. Unconstrained International Equity Portfolio – AADR is uniquely positioned from an investment opportunity perspective because it is not limited by style (value or growth), investment capitalization (small, mid or large), or even classification of international market (emerging or developed).
  3. Systematic Approach – AADR’s investment process is entirely systematic and is designed to remove human emotion from the decision process. This approach allows the portfolio manager the ability to continually execute their proven investment process through all types of different markets. The process also allows the portfolio manager the ability to analyze a large number of markets that may become very different over time.
  4. Relative Strength Analysis – AADR uses relative strength which compares price performance within a universe of stocks. Relative strength investing provides a repeatable process to identify and select the leaders while avoiding the laggards. It is important to be equally good at identifying both long-term winners and losers.
  5. Disciplined Sell Process – Securities are automatically sold from the portfolio when they fall below a predetermined rank threshold. The sell rank is determined when the security is purchased and is not adjusted for different market scenarios. The sell process is entirely based on technical, systematic ranks and does not allow for any portfolio manager discretion or overrides.
<strong>About American Depositary Receipts</strong>

An American depositary receipt (ADR) is a negotiable U.S. security that generally represents a company’s publicly traded equity or debt. Depositary receipts are created when a broker purchases a non-U.S. company’s shares on its home stock market and delivers the shares to the depositary’s local custodian bank, and then instructs the depositary bank such as BNY Mellon, to issue depositary receipts.

<strong>About the Portfolio Manager</strong>

John G. Lewis, Senior Vice President & Senior Portfolio Manager
Mr. Lewis joined Dorsey Wright Money Management in 2002. As Senior Portfolio Manager, he is responsible for investment strategy across DWA’s funds, ETFs, UITs and SMA accounts. He has worked in the investment industry since 1994. Mr. Lewis has conducted extensive research on relative strength and has authored several original research papers on the subject and works closely with the investment team on new product development. He holds a Bachelor of Business Administration from the University of San Diego and an MBA from the University of Southern California. 

Fund

Price History

Fund Data

1/27/2023
NAV $49.98
Change $-0.49
Shares Outstanding 680,000
Assets Under Management $33,986,350.23

Market Data

1/27/2023
Closing Price $50.1
Close Change $-0.21
Volume 25,030

Regulatory Data

1/27/2023
Premium Discount $0.01
30-Day Median bid-ask Spread 0.004822
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount Historical Data

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.

FUND

Performance

As of 12/31/2022

  NAV Market Price Return MSCI EAFE Index
1 Month -4.31 -4.16 0.08
3 Months 9.65 9.82 17.34
YTD -23.09 -23.14 -14.45
1 Year -23.09 -23.14 -14.45
3 Years -2.70 -2.52 0.87
5 Years -2.94 -2.98 1.54
10 Years 5.27 5.28 4.67
Since Inception (7/20/2010, Annualized) 6.21 6.20 5.40

As of 12/31/2022

  NAV Market Price Return MSCI EAFE Index
1 Month -4.31 -4.16 0.08
3 Months 9.65 9.82 17.34
YTD -23.09 -23.14 -14.45
1 Year -23.09 -23.14 -14.45
3 Years -2.70 -2.52 0.87
5 Years -2.94 -2.98 1.54
10 Years 5.27 5.28 4.67
Since Inception (7/20/2010, Annualized) 6.21 6.20 5.40

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. 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 performance for periods before 09/01/16 is for the AdvisorShares WCM/BNY Mellon Focused Growth ADR ETF (the “Predecessor Fund”) which was renamed the AdvisorShares Dorsey Wright ADR ETF on 09/01/16. The Predecessor Fund had different portfolio managers and investment strategy than the Dorsey Wright ADR ETF. Performance prior to 09/01/16 reflects the Fund’s performance prior to the change in manager and investment strategy and may not be indicative of the Fund’s performance under the new manager and revised investment strategy. Performance since 09/01/16 reflects actual Dorsey Wright ADR ETF performance.

The MSCI EAFE Index is an unmanaged free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada. One cannot invest directly in an index.

The BNY Mellon Classic ADR Index combines the over the counter (OTC) traded ADRs with exchange-listed ADRs bringing transparency to the available universe of American Depositary Receipts, including those issued by many of the world’s premier companies. One cannot invest directly in an index.

Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
01/27/2023 AADR NVO 670100205 NOVO-NORDISK A/S-SPONS ADR 11,083.00 138.09 1,530,451.47 4.50% FS
TS 88031M109 TENARIS SA-ADR 42,853.00 35.4 1,516,996.20 4.46% FS
IBN 45104G104 ICICI BANK LTD-SPON ADR 61,591.00 20.11 1,238,595.01 3.65% FS
UBS H42097107 UBS GROUP AG-REG 52,408.00 21.44 1,123,627.52 3.31% FS
MUFG 606822104 MITSUBISHI UFJ FINL-SPON ADR 148,436.00 7.54 1,119,207.44 3.29% FS
YPF 984245100 YPF S.A.-SPONSORED ADR 93,004.00 11.54 1,073,266.16 3.16% FS
ABB 000375204 ABB LTD-SPON ADR 30,918.00 34.64 1,070,999.52 3.15% FS
NXPI N6596X109 NXP SEMICONDUCTORS NV 5,579.00 181.54 1,012,811.66 2.98% FS
DEO 25243Q205 DIAGEO PLC-SPONSORED ADR 5,786.00 172.21 996,407.06 2.93% FS
AMX 02364W105 AMERICA MOVIL-SPN ADR CL L 46,567.00 21.14 984,426.38 2.90% FS
EQNR 29446M102 EQUINOR ASA-SPON ADR 31,480.00 30.38 956,362.40 2.81% FS
AEG 007924103 AEGON N.V.-NY REG SHR 173,577.00 5.5 954,673.50 2.81% FS
GMAB 372303206 GENMAB A/S -SP ADR 24,295.00 38.87 944,346.65 2.78% FS
KT 48268K101 KT CORP-SP ADR 64,878.00 14.42 935,540.76 2.75% FS
BAP G2519Y108 CREDICORP LTD 6,397.00 140.73 900,249.81 2.65% FS
RELX 759530108 RELX PLC - SPON ADR 30,440.00 29.41 895,240.40 2.63% FS
BBVA 05946K101 BANCO BILBAO VIZCAYA-SP ADR 127,973.00 6.97 891,971.81 2.62% FS
MMYT V5633W109 MAKEMYTRIP LTD 30,075.00 29.47 886,310.25 2.61% FS
BHP 088606108 BHP GROUP LTD-SPON ADR 12,155.00 69.88 849,391.40 2.50% FS
ITUB 465562106 ITAU UNIBANCO H-SPON PRF ADR 173,505.00 4.85 841,499.25 2.48% FS
PAM 697660207 PAMPA ENERGIA SA-SPON ADR 24,695.00 33.76 833,703.20 2.45% FS
KOF 191241108 COCA-COLA FEMSA SAB-SP ADR 11,142.00 74.16 826,290.72 2.43% FS
ING 456837103 ING GROEP N.V.-SPONSORED ADR 57,539.00 14.22 818,204.58 2.41% FS
BTI 110448107 BRITISH AMERICAN TOB-SP ADR 21,712.00 37.55 815,285.60 2.40% FS
CPA P31076105 COPA HOLDINGS SA-CLASS A 8,930.00 90.49 808,075.70 2.38% FS
TCOM 89677Q107 TRIP.COM GROUP LTD-ADR 20,262.00 39.41 798,525.42 2.35% FS
GGB 373737105 GERDAU SA -SPON ADR 125,221.00 6.35 795,153.35 2.34% FS
EBR 15234Q207 CENTRAIS ELETRICAS BR-SP ADR 96,332.00 8.14 784,142.48 2.31% FS
BAESY 05523R107 BAE SYSTEMS PLC -SPON ADR 18,255.00 42.8 781,314.00 2.30% FS
FMX 344419106 FOMENTO ECONOMICO MEX-SP ADR 8,845.00 86.3 763,323.50 2.25% FS
SQM 833635105 QUIMICA Y MINERA CHIL-SP ADR 8,027.00 94.61 759,434.47 2.23% FS
CAJ 138006309 CANON INC-SPONS ADR 33,045.00 22.72 750,782.40 2.21% FS
AZN 046353108 ASTRAZENECA PLC-SPONS ADR 11,286.00 65.53 739,571.58 2.18% FS
ELP 20441B605 CIA PARANAENSE ENER-SP ADR 100,890.00 7.26 732,461.40 2.16% FS
ARGX 04016X101 ARGENX SE - ADR 1,922.00 380.9 732,089.80 2.15% FS
HDB 40415F101 HDFC BANK LTD-ADR 10,960.00 65.77 720,839.20 2.12% FS
TNP G9108L173 TSAKOS ENERGY NAVIGATION LTD 42,311.00 17 719,287.00 2.12% FS
X9USDAIMP INVESCO GOVT AGENCY PRIV 1903 126,863.57 1 126,863.57 0.37% MM
CASH -47,404.31 100 -47,404.31 -0.14% CA

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.

FUND

Characteristics

As of 12/31/2022