AADR - DORSEY WRIGHT ADR ETF

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The World Is Global — Your Portfolio Should Be Too

Symbol Exchange Inception Date CUSIP NAV Options Available
AADR Nasdaq 7/20/2010 00768Y206 AADR.NV Yes

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About The ETF

The AdvisorShares Dorsey Wright ADR ETF (AADR) is an actively managed ETF using a technically driven investment strategy to offer international equity exposure to developed and emerging markets while seeking long-term capital appreciation. AADR uses Nasdaq Dorsey Wright’s (NDW) proprietary relative strength methodology to structure a portfolio of international companies that trade in the U.S. via American depository receipts (ADRs). In selecting securities for its portfolio, AADR is unconstrained by investment style, market capitalization, and developed or emerging markets.

To implement AADR’s strategy, relative strength is measured across macroeconomic sectors and international equities. AADR’s technically driven investment process seeks to buy international equities demonstrating high relative strength within their universe and hold them until they exhibit sell signals. This approach is purely systematic, removing human emotion from day-to-day decision making.

What Is Relative Strength?

Relative strength is a way of recording historic performance patterns to identify momentum signals for current and future performance trends of a security versus an investment universe or benchmark. It is the comparison of price performance within a universe of securities to identify those that have appreciated the most. Numerous studies by both academics and investment professionals have demonstrated that securities showing the greatest gains relative to their market often continue to outperform. Analyzing securities by their relative strength provides a way to identify the current market leaders – the securities you want to own – as well as the weaklings – the laggards with the highest relative weakness that you want to avoid. NDW is recognized as a leader in relative strength analysis.

What are ADRs?

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.

Why Invest?
  • International Exposure – Markets outside the U.S. don’t always rise and fall at the same time as the domestic market. Owning pieces of both international and domestic securities may level out some of a portfolio’s volatility and spread out risk more than if just holding domestic securities.
  • Concentrated Portfolio – AADR typically has a portfolio of up to 40 equities that demonstrate the most favorable relative strength characteristics according to NDW’s technical analysis process.
  • Unconstrained Stock Selection – AADR can go where it finds relative strength in the international markets. It is unconstrained by style (growth / value), investment capitalization (small / mid / large), or even classification of international market (emerging / developed).
  • Sector Risk Management – AADR’s systematic investment strategy takes several factors into account to limit unnecessary risk and maximize exposure to the relative strength factor. The process spreads the allocation among multiple sectors – limiting the allocation to each based on the sector’s size – and within the sector’s industry groups, if possible.
  • Disciplined Strategy – AADR actively looks to add alpha with a systematic, technical analysis-driven process that seeks to own the strongest growth-momentum companies while avoiding the weakes Securities are automatically sold from the portfolio when they fall below a predetermined rank threshold.
  • Potential Tax Advantage – While AADR has an actively managed strategy, including disciplined monthly rebalancing, the unique tax-efficient, in-kind creation/redemption process of the ETF structure helps AADR’s management to manage or eliminate capital gains exposure and reduce costs.
<strong>Where Can AADR Fit in a Traditional Portfolio?</strong>

AADR can serve as an alpha-seeking complement to a broad-based international index fund or as a stand-alone investment solution for international equity exposure.

<strong>Key Attributes</strong>
  • Concentrated Portfolio of Highly-Ranked Equities – AADR typically has a portfolio of less than 40 equities that demonstrate high relative strength characteristics according to NDW’s proprietary macroeconomic sector ranking and individual stock rotation methodology.
  • Flexible International Portfolio – AADR’s strategy allows it to invest where it finds the best relative strength regardless of style (value or growth), investment capitalization (small, mid, or large), or classification of international market (emerging or developed).
  • Systematic Approach – AADR’s investment process is entirely systematic and designed to remove human emotion from the decision process. It allows for the ongoing analysis of a large universe of securities through diverse and changing markets.
  • 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.
  • 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 not adjusted for different market scenarios. The sell process does not allow for human discretion or overrides.
<strong>About the Portfolio Strategist</strong>

John G. Lewis, CMT | Nasdaq Dorsey Wright, Senior Portfolio Manager

Since joining Nasdaq Dorsey Wright in 2002, Mr. Lewis has developed relative strength and momentum strategies for the firm’s separately managed accounts, global asset allocation strategies, ETFs, and UITs. As one of the foremost experts on relative strength investing, Mr. Lewis has authored several original research papers on the subject. He is a Chartered Market Technician (CMT) and a member of the Market Technician’s Association and the American Association of Professional Technical Analysts. Mr. Lewis earned an M.B.A. in Finance from the University of Southern California and a B.A. from the University of San Diego. He began his career in the investment industry in 1994.

 

AADR Overview 

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AADR Overview

  Get a quick and easy introduction to the AADR ETF.

Fund

Price History

Fund Data

12/3/2024
NAV $69.14
Change $0.24
Shares Outstanding 375,000
Assets Under Management $25,927,921.84

 

 

 

 

Market Data

12/3/2024
Closing Price $69.03
Close Change $-0.03
Volume 1,609

Regulatory Data

12/3/2024
Premium Discount $-0.34
30-Day Median bid-ask Spread 0.004610
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

Characteristics

As of 10/31/2024

Source: Morningstar & AdvisorShares

FUND

Performance

As of 10/31/2024

  NAV Market Price Return MSCI EAFE Index
1 Month 1.13 1.04 -5.44
3 Months 3.87 3.81 -1.46
YTD 16.27 16.15 6.85
1 Year 37.59 37.99 22.97
3 Years 1.65 1.71 2.70
5 Years 6.36 6.44 6.24
10 Years 6.56 6.56 5.27
Since Inception (7/20/2010, Annualized) 7.77 7.77 6.42

As of 9/30/2024

  NAV Market Price Return MSCI EAFE Index
1 Month 0.87 1.34 0.92
3 Months 3.17 3.38 7.26
YTD 14.97 14.95 12.99
1 Year 31.79 32.18 24.77
3 Years 2.06 2.12 5.48
5 Years 7.30 7.41 8.20
10 Years 6.60 6.60 5.71
Since Inception (7/20/2010, Annualized) 7.74 7.74 6.88

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.

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Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
12/03/2024 AADR GGAL 399909100 GRUPO FINANCIERO GALICIA-ADR 24,168 58.11 1,404,402.48 5.42% FS
YPF 984245100 YPF S.A.-SPONSORED ADR 30,718 40.15 1,233,327.70 4.76% FS
BMA 05961W105 BANCO MACRO SA-ADR 14,337 84.57 1,212,480.09 4.68% FS
PAM 697660207 PAMPA ENERGIA SA-SPON ADR 12,689 87.10 1,105,211.90 4.26% FS
ERJ 29082A107 EMBRAER SA-SPON ADR 28,120 37.05 1,041,846.00 4.02% FS
MUFG 606822104 MITSUBISHI UFJ FINL-SPON ADR 75,255 12.23 920,368.65 3.55% FS
ABBNY 000375204 ABB LTD-SPON ADR 15,877 57.73 916,579.21 3.54% FS
QFIN 88557W101 QIFU TECHNOLOGY INC 24,261 35.97 872,668.17 3.37% FS
UBS H42097107 UBS GROUP AG-REG 25,967 32.55 845,225.85 3.26% FS
SAP 803054204 SAP SE-SPONSORED ADR 3,254 243.90 793,650.60 3.06% FS
VRNA 925050106 VERONA PHARMA PLC - ADR 19,905 38.66 769,527.30 2.97% FS
SE 81141R100 SEA LTD-ADR 6,251 115.50 721,990.50 2.78% FS
RELX 759530108 RELX PLC - SPON ADR 14,947 47.48 709,683.56 2.74% FS
SMFG 86562M209 SUMITOMO MITSUI-SPONS ADR 44,555 15.41 686,592.55 2.65% FS
BCS 06738E204 BARCLAYS PLC-SPONS ADR 50,786 13.45 683,071.70 2.63% FS
MELI 58733R102 MERCADOLIBRE INC 349 1,929.49 673,392.01 2.60% S
BAESY 05523R107 BAE SYSTEMS PLC -SPON ADR 10,329 63.85 659,506.65 2.54% FS
KT 48268K101 KT CORP-SP ADR 36,100 18.03 650,883.00 2.51% FS
ERIC 294821608 ERICSSON (LM) TEL-SP ADR 79,041 8.20 648,136.20 2.50% FS
HMY 413216300 HARMONY GOLD MNG-SPON ADR 70,329 9.18 645,620.22 2.49% FS
BBVA 05946K101 BANCO BILBAO VIZCAYA-SP ADR 66,606 9.59 638,751.54 2.46% FS
TSM 874039100 TAIWAN SEMICONDUCTOR-SP ADR 3,102 198.89 616,956.78 2.38% FS
INFY 456788108 INFOSYS LTD-SP ADR 27,780 22.12 614,493.60 2.37% FS
TIGR 91531W106 UP FINTECH HOLDING LTD - ADR 96,500 6.13 591,545.00 2.28% FS
TCEHY 88032Q109 TENCENT HOLDINGS LTD-UNS ADR 11,290 51.70 583,693.00 2.25% FS
SIEGY 826197501 SIEMENS AG-SPONS ADR 5,730 99.76 571,624.80 2.20% FS
CMPGY 20449X401 COMPASS GROUP PLC-SPON ADR 16,010 35.01 560,510.10 2.16% FS
TEVA 881624209 TEVA PHARMACEUTICAL-SP ADR 31,650 17.53 554,824.50 2.14% FS
CHKP M22465104 CHECK POINT SOFTWARE TECH 2,933 187.09 548,734.97 2.12% FS
ING 456837103 ING GROEP N.V.-SPONSORED ADR 33,021 15.37 507,532.77 1.96% FS
NVS 66987V109 NOVARTIS AG-SPONSORED ADR 4,808 104.56 502,724.48 1.94% FS
AEG 0076CA104 AEGON LTD-NY REG SHR 77,988 6.41 499,903.08 1.93% FS
TCOM 89677Q107 TRIP.COM GROUP LTD-ADR 7,165 68.03 487,434.95 1.88% FS
PROSY 74365P108 PROSUS NV -SPON ADR 55,674 8.22 457,640.28 1.77% FS
FUTU 36118L106 FUTU HOLDINGS LTD-ADR 4,905 88.22 432,719.10 1.67% FS
X9USDAIMP INVESCO GOVT AGENCY PRIV 1903 595,164.75 1.00 595,164.75 2.30% MM
CASH -31,208 100.00 -31,208.00 -0.12% CA
Holdings and allocations are subject to risks and to change.

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FUND

Fees & Expenses

Management Fee 0.75%
Total Annual Operating Expenses 1.25%
Total Annual Operating Expenses After Fee Waiver/Expense Reimbursement* 1.10%

*The Advisor has contractually agreed to reduce its fees and/or reimburse expenses to keep net expenses from exceeding 1.10% of the Fund’s average daily net assets for at least one year from the date of the prospectus. For more information, please read the full prospectus.​

Last Ten

Fund Distributions

  • 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 carefully before you invest. Foreside Fund Services, LLC, distributor.

    There is no guarantee that the Fund will achieve its investment objective. An investment in the Fund is subject to risk, including the possible loss of the principal amount invested. Emerging Markets, which consist of countries or markets with low to middle income economies can be subject to greater social, economic, regulatory, and political uncertainties and can be extremely volatile. Other Fund risks include concentration risk, foreign securities, and currency risk, ADRs which may be less liquid, large-cap risk, early closing risk, counterparty risk and trading risk, which can increase Fund expenses and may decrease Fund performance. The Fund is, also, subject to the same risks associated with the underlying ETFs, which can result in higher volatility.

    This Fund may not be suitable for all investors. See the prospectus or summary prospectus for details regarding risk.

    Definitions:
    Alpha: One of the most commonly quoted indicators of investment performance, alpha, is defined as the excess return on an investment relative to the return on a benchmark index.