(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

10/4/2022
NAV $46.89
Change $1.47
Shares Outstanding 800,000
Assets Under Management $37,512,314.26

Market Data

10/4/2022
Closing Price $46.66
Close Change $1.17
Volume 11,694

Regulatory Data

10/4/2022
Premium Discount $-0.21
30-Day Median bid-ask Spread 0.004396
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 8/31/2022

  NAV Market Price Return MSCI EAFE Index
1 Month -3.10 -3.17 -4.75
3 Months -11.07 -11.09 -9.28
YTD -21.78 -21.86 -19.57
1 Year -25.62 -25.64 -19.80
3 Years 0.80 0.89 2.39
5 Years -0.31 -0.39 1.63
10 Years 6.22 6.20 5.00
Since Inception (7/20/2010, Annualized) 6.53 6.52 5.01

As of 6/30/2022

  NAV Market Price Return MSCI EAFE Index
1 Month -12.97 -12.94 -9.28
3 Months -17.58 -17.61 -14.51
YTD -23.45 -23.49 -19.57
1 Year -25.49 -25.45 -17.77
3 Years 0.01 0.04 1.07
5 Years 1.62 1.59 2.2
10 Years 6.13 6.13 5.4
Since Inception (7/20/2010, Annualized) 6.44 6.43 5.09

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
10/04/2022 AADR DAC Y1968P121 DANAOS CORP 27,217.00 58.85 1,601,720.45 4.27% FS
IBN 45104G104 ICICI BANK LTD-SPON ADR 72,439.00 21.69 1,571,201.91 4.19% FS
TTM 876568502 TATA MOTORS LTD-SPON ADR 57,533.00 25.45 1,464,214.85 3.90% FS
TS 88031M109 TENARIS SA-ADR 50,402.00 28.7 1,446,537.40 3.86% FS
NVO 670100205 NOVO-NORDISK A/S-SPONS ADR 13,027.00 105.38 1,372,785.26 3.66% FS
SSL 803866300 SASOL LTD-SPONSORED ADR 75,771.00 17.58 1,332,054.18 3.55% FS
EQNR 29446M102 EQUINOR ASA-SPON ADR 37,023.00 35.48 1,313,576.04 3.50% FS
DEO 25243Q205 DIAGEO PLC-SPONSORED ADR 6,794.00 176.12 1,196,559.28 3.19% FS
ITUB 465562106 ITAU UNIBANCO H-SPON PRF ADR 204,107.00 5.73 1,169,533.11 3.12% FS
MMYT V5633W109 MAKEMYTRIP LTD 35,369.00 32.77 1,159,042.13 3.09% FS
NXPI N6596X109 NXP SEMICONDUCTORS NV 6,541.00 159.89 1,045,840.49 2.79% FS
TLK 715684106 TELKOM INDONESIA PERSERO-ADR 35,478.00 29.36 1,041,634.08 2.78% FS
GMAB 372303206 GENMAB A/S -SP ADR 28,566.00 35.45 1,012,664.70 2.70% FS
BAP G2519Y108 CREDICORP LTD 7,508.00 133.51 1,002,393.08 2.67% FS
EBR 15234Q207 CENTRAIS ELETRICAS BR-SP ADR 113,312.00 8.64 979,015.68 2.61% FS
KT 48268K101 KT CORP-SP ADR 76,310.00 12.74 972,189.40 2.59% FS
UBS H42097107 UBS GROUP AG-REG 61,646.00 15.77 972,157.42 2.59% FS
ABB 000375204 ABB LTD-SPON ADR 36,365.00 26.38 959,308.70 2.56% FS
BTI 110448107 BRITISH AMERICAN TOB-SP ADR 25,527.00 37.32 952,667.64 2.54% FS
AMX 02364W105 AMERICA MOVIL-SPN ADR CL L 54,774.00 17.03 932,801.22 2.49% FS
RELX 759530108 RELX PLC - SPON ADR 35,791.00 25.92 927,702.72 2.47% FS
SQM 833635105 QUIMICA Y MINERA CHIL-SP ADR 9,426.00 97.49 918,940.74 2.45% FS
HSBC 404280406 HSBC HOLDINGS PLC-SPONS ADR 32,835.00 27.74 910,842.90 2.43% FS
CAJ 138006309 CANON INC-SPONS ADR 38,854.00 22.82 886,648.28 2.36% FS
AEG 007924103 AEGON N.V.-NY REG SHR 204,187.00 4.32 882,087.84 2.35% FS
PBR 71654V408 PETROLEO BRASILEIRO-SPON ADR 62,096.00 13.67 848,852.32 2.26% FS
ARGX 04016X101 ARGENX SE - ADR 2,258.00 369.45 834,218.10 2.22% FS
MUFG 606822104 MITSUBISHI UFJ FINL-SPON ADR 174,607.00 4.68 817,160.76 2.18% FS
ALC H01301128 ALCON INC 13,138.00 62.07 815,475.66 2.17% FS
VIV 87936R205 TELEFONICA BRASIL-ADR 101,743.00 7.98 811,909.14 2.16% FS
ICLR G4705A100 ICON PLC 3,916.00 197.26 772,470.16 2.06% FS
ICL M53213100 00001 ICL GROUP LTD 88,148.00 8.64 761,598.72 2.03% FS
AZN 046353108 ASTRAZENECA PLC-SPONS ADR 13,254.00 57.04 756,008.16 2.02% FS
DQ 23703Q203 DAQO NEW ENERGY CORP-ADR 13,576.00 55.66 755,640.16 2.01% FS
ELP 20441B605 CIA PARANAENSE ENER-SP ADR 118,673.00 6.34 752,386.82 2.01% FS
NGG 636274409 NATIONAL GRID PLC-SP ADR 13,705.00 53.86 738,151.30 1.97% FS
DSX Y2066G104 DIANA SHIPPING INC 183,188.00 4.02 736,415.76 1.96% FS
ACLLY 00449R109 ACCELLERON INDUSTRIES AG 1,818.25 18.55 33,728.54 0.09% FS
X9USDAIMP INVESCO GOVT AGENCY PRIV 1903 50,986.06 1 50,986.06 0.14% MM
CASH 1,496.07 100 1,496.07 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 8/31/2022

FUND

Fees & Expenses

Management Fee 0.75%
Other Expenses 0.21%
Total Annual Operating Expenses 0.96%
Fee/Expense Recapture* 0.14%
Total Annual Expense Ratio after Recapture 1.10%

*The Advisor has contractually agreed 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 and for successive one-year periods thereafter unless the agreement is terminated.

Last Ten

Fund Distributions