(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 Indicative Value
AADR NYSE Arca 7/20/2010 00768Y206 AADR.IV
<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

As of 10/14/2019

NAV $48.54 Closing Price $48.43
Change $0.25 Close Change $0.15
Shares Outstanding 2,100,000 Volume 5,657
4PM Bid/Offer Midpoint $48.33 Premium Discount $-0.21
Assets Under Management $101,930,102.70    

Premium/Discount Historical Data | NAV 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 9/30/2019

NAV Market Price Return MSCI EAFE Index BNY Mellon Classic ADR Index
1 Month -3.59 -3.66 2.87 2.58
3 Months -3.81 -4.11 -1.07 -1.78
YTD 19.83 19.94 12.80 12.34
1 Year -10.45 -10.76 -1.34 2.58
3 Years 6.46 6.20 6.48 -1.78
5 Years 5.91 5.81 3.27 3.24
Since Inception (7/20/2010, Annualized) 7.98 7.92 6.16 5.49

As of 9/30/2019

NAV Market Price Return MSCI EAFE Index BNY Mellon Classic ADR Index
1 Month -3.59 -3.66 2.87 2.58
3 Months -3.81 -4.11 -1.07 -1.78
YTD 19.83 19.94 12.80 12.34
1 Year -10.45 -10.76 -1.34 -0.91
3 Years 6.46 6.20 6.48 6.43
5 Years 5.91 5.81 3.27 3.24
Since Inception (7/20/2010, Annualized) 7.98 7.92 6.16 5.49

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 10/15/2019

Date Account Symbol Stock Ticker CUSIP/Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
10/15/2019 AADR NICE 653656108 NICE LTD 33,916 152.79 5,182,025.64 5.08% FS 1
GLPG 36315X101 GALAPAGOS NV-SPON ADR 28,576 162.19 4,634,741.44 4.55% FS 1
MELI 58733R102 MERCADOLIBRE INC 6,457 566.55 3,658,213.35 3.59% S 1
AU 035128206 ANGLOGOLD ASHANTI-SPON ADR 177,948 19.57 3,482,442.36 3.42% FS 1
EADSY 009279100 AIRBUS SE - UNSP ADR 103,317 32.91 3,400,472.42 3.34% FS 1
LVMUY 502441306 LVMH MOET HENNESSY-UNSP ADR 39,886 84.17 3,357,204.62 3.29% FS 1
CZZ G25343107 COSAN LTD-CLASS A SHARES 201,240 15.90 3,199,716.00 3.14% FS 1
ARGX 04016X101 ARGENX SE - ADR 27,053 116.46 3,150,592.38 3.09% FS 1
GFI 38059T106 GOLD FIELDS LTD-SPONS ADR 583,713 5.38 3,140,375.94 3.08% FS 1
ALLE G0176J109 ALLEGION PLC 30,245 101.79 3,078,638.55 3.02% FS 1
ASML N07059210 ASML HOLDING NV-NY REG SHS 11,330 267.54 3,031,228.20 2.97% FS 1
GOL 38045R206 GOL LINHAS AEREAS INTEL-ADR 177,231 17.07 3,025,333.17 2.97% FS 1
ZTO 98980A105 ZTO EXPRESS CAYMAN INC-ADR 144,328 20.70 2,987,589.60 2.93% FS 1
WNS 92932M101 WNS HOLDINGS LTD-ADR 48,463 59.76 2,896,148.88 2.84% FS 1
SNN 83175M205 SMITH & NEPHEW PLC -SPON ADR 61,603 47.00 2,895,341.00 2.84% FS 1
NSRGY 641069406 NESTLE SA-SPONS ADR 27,092 106.18 2,876,493.10 2.82% FS 1
INFY 456788108 INFOSYS LTD-SP ADR 264,612 10.67 2,823,410.04 2.77% FS 1
AZN 046353108 ASTRAZENECA PLC-SPONS ADR 62,580 44.21 2,766,661.80 2.71% FS 1
FLY 34407D109 FLY LEASING LTD-ADR 136,197 19.42 2,644,945.74 2.59% FS 1
ICLR G4705A100 ICON PLC 18,736 141.02 2,642,150.72 2.59% FS 1
EDU 647581107 NEW ORIENTAL EDUCATIO-SP ADR 21,678 116.29 2,520,934.62 2.47% FS 1
TAL 874080104 TAL EDUCATION GROUP- ADR 62,664 39.47 2,473,348.08 2.43% FS 1
DEO 25243Q205 DIAGEO PLC-SPONSORED ADR 14,914 162.24 2,419,647.36 2.37% FS 1
NVS 66987V109 NOVARTIS AG-SPONSORED ADR 26,465 86.70 2,294,515.50 2.25% FS 1
TLK 715684106 TELEKOMUNIK INDONESIA-SP ADR 76,284 29.40 2,242,749.60 2.20% FS 1
BRFS 10552T107 BRF SA-ADR 249,756 8.59 2,145,404.04 2.10% FS 0
SAP 803054204 SAP SE-SPONSORED ADR 16,802 127.18 2,136,878.36 2.10% FS 0
EBR 15234Q207 CENTRAIS ELETRICAS BR-SP ADR 253,664 8.34 2,115,557.76 2.08% FS
PHG 500472303 KONINKLIJKE PHILIPS NVR- NY 48,400 43.26 2,093,784.00 2.05% FS
NXPI N6596X109 NXP SEMICONDUCTORS NV 18,500 111.97 2,071,445.00 2.03% FS
CIG 204409601 CIA ENERGETICA DE-SPON ADR 606,442 3.29 1,995,194.18 1.96% FS
TRI 884903709 THOMSON REUTERS CORP 29,900 66.31 1,982,669.00 1.95% FS
TCEHY 88032Q109 TENCENT HOLDINGS LTD-UNS ADR 47,005 42.09 1,978,205.43 1.94% FS
SID 20440W105 CIA SIDERURGICA NACL-SP ADR 612,659 3.22 1,972,761.98 1.94% FS
BHP 088606108 BHP GROUP LTD-SPON ADR 39,903 48.68 1,942,478.04 1.91% FS
BVN 204448104 CIA DE MINAS BUENAVENTUR-ADR 136,975 14.16 1,939,566.00 1.90% FS
RDY 256135203 DR. REDDY'S LABORATORIES-ADR 49,317 38.19 1,883,416.23 1.85% FS
ALC H01301128 ALCON INC 5,293 57.82 306,041.26 0.30% FS
X9USDAIMP INVESCO GOVT AGENCY PRIV 1903 551,690 1 551,690.23 0.54% MM
CASH -12,337.49 100 -12,337.49 -0.01% 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 09/30/2019

AADR Regional Allocation

AADR Sector Allocation

AADR Emerging vs Developed

AADR Country Allocation

FUND

Fees & Expenses

Management Fee 0.75%
Other Expenses 0.21%
Gross Expenses Ratio 0.96%
Fee Waver and/or Expenses Reimbursement -0.08%
Net Expense Ratio 0.88%*

*The Advisor has contractually agreed to keep net expenses from exceeding 0.88% of the Fund’s average daily net assets for at least one year from the date of the prospectus and for successive one-year periods thereafter unless the agreement is terminated. This agreement is limited to the Fund’s direct operating expenses and, therefore, does not apply to “Acquired Fund Fees and Expenses.”

Last Ten

Fund Distributions

Ex-Date Record Date Pay Date Cash Div ST Cap Gain LT Cap Gain Return of Capital Total Distribution (per share) AADR
12/27/2019 12/30/2019 - - - - -
09/25/2019 09/26/2019 09/30/2019 $0.00849 $0.0000 $0.0000 $0.0000 $0.00849
06/25/2019 06/26/2019 06/28/2019 $0.30609 $0.0000 $0.0000 $0.0000 $0.30609
03/26/2019 03/27/2019 03/29/2019 $0.00055 $0.0000 $0.0000 $0.0000 $0.00055
12/27/2018 12/28/2018 12/31/2018 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
09/26/2018 09/27/2018 09/28/2018 $0.00074 $0.0000 $0.0000 $0.0000 $0.00074
06/25/2018 06/26/2018 06/29/2018 $0.28385 $0.0000 $0.0000 $0.0000 $0.28385
03/26/2018 03/27/2018 03/29/2018 $0.01442 $0.0000 $0.0000 $0.0000 $0.01442
12/27/2017 12/28/2017 12/29/2017 $0.13034 $0.0000 $0.0000 $0.0000 $0.13034
09/26/2017 09/27/2017 09/29/2017 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
06/23/2017 06/28/2017 06/30/2017 $0.30343 $0.0000 $0.0000 $0.0000 $0.30343
03/24/2017 03/28/2017 03/31/2017 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
12/23/2016 12/28/2016 12/30/2016 $0.02990 $0.0000 $0.0000 $0.0000 $0.02990
09/26/2016 09/28/2016 09/30/2016 $0.11830 $0.0000 $0.0000 $0.0000 $0.11830
06/24/2016 06/28/2016 06/30/2016 $0.06000 $0.0000 $0.0000 $0.0000 $0.06000
03/24/2016 03/29/2016 03/31/2016 $0.02430 $0.0000 $0.0000 $0.0000 $0.02430
12/24/2015 12/29/2015 12/31/2015 $0.00610 $0.0000 $0.0000 $0.0000 $0.00610
09/24/2015 09/28/2015 09/30/2015 $0.10540 $0.0000 $0.0000 $0.0000 $0.10540
06/24/2015 06/26/2015 06/30/2015 $0.07690 $0.0000 $0.0000 $0.0000 $0.07690
03/25/2015 03/27/2015 03/31/2015 $0.12300 $0.0000 $0.0000 $0.0000 $0.12300
12/24/2014 12/29/2014 12/31/2014 $0.01100 $0.0000 $0.0000 $0.0000 $0.01100
09/24/2014 09/26/2014 09/30/2014 $0.02100 $0.0000 $0.0000 $0.0000 $0.02100
06/24/2014 06/26/2014 06/30/2014 $0.11500 $0.0000 $0.0000 $0.0000 $0.11500
03/25/2014 03/27/2014 03/31/2014 $0.03600 $0.0000 $0.0000 $0.0000 $0.03600
12/24/2013 12/27/2013 12/31/2013 $0.00900 $0.0000 $0.0000 $0.0000 $0.00900
09/24/2013 09/26/2013 09/30/2013 $0.01400 $0.0000 $0.0000 $0.0000 $0.01400
06/24/2013 06/26/2013 06/28/2013 $0.10200 $0.0000 $0.0000 $0.0000 $0.10200
03/22/2013 03/26/2013 03/28/2013 $0.00300 $0.0000 $0.0000 $0.0000 $0.00300
12/24/2012 12/27/2012 12/31/2012 $0.05600 $0.0000 $0.0000 $0.0000 $0.05600
09/24/2012 09/26/2012 09/28/2012 $0.00800 $0.0000 $0.0000 $0.0000 $0.00800
06/25/2012 06/27/2012 06/29/2012 $0.03900 $0.0000 $0.0000 $0.0000 $0.03900
03/26/2012 03/28/2012 03/30/2012 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
12/23/2011 12/28/2011 12/30/2011 $0.07300 $0.1220 $0.0000 $0.0000 $0.19500
09/26/2011 09/28/2011 09/30/2011 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
06/24/2011 06/28/2011 06/30/2011 $0.02000 $0.0000 $0.0000 $0.0000 $0.02000
03/25/2011 03/29/2011 03/31/2011 $0.00000 $0.0000 $0.0000 $0.0000 $0.00000
12/23/2010 12/28/2010 12/31/2010 $0.07000 $0.0000 $0.0000 $0.0000 $0.07000
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Contact Info

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Location

AdvisorShares Investments, LLC
4800 Montgomery Lane,
Suite 150
Bethesda, Maryland 20814

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ETF Symbols

 

AADRACT, CWS, DBLV, DWMC, DWSH, FLRT, FWDB, HDGE, HOLD, MINC, MJUS, SCAP, VEGA, YOLO

 

 

 

 

 

Privacy
Copyright © AdvisorShares 2019 • Foreside Fund Services, LLC Distributor

 

 

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the 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 principal amount invested. Emerging Markets, which consist of countries or markets with low to middle income economics 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.

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.

© 2019 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.

Overall AADR Morningstar rating is derived from a weighted average of the fund’s 3-, 5-, and 10- year (if applicable) risk-adjusted returns as of 8/31/2019. Category consists of 399 funds in 3 year and 343 in 5 year. AADR received a 3 star rating in the 3 year and a 4 star in the 5 year.

This Fund may not be suitable for all investors.
See prospectus for detail regarding risk.

Definitions

Alpha: 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.

ADR: 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 to issue Depositary Receipts