ACT: June 2020 Portfolio Manager Review
Performance data quoted represents past performance and is no guarantee of future results. 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. For the fund’s most recent standardized and month-end performance, please click www.advisorshares.com/etfs/act.
For the month of June, AdvisorShares Vice ETF (ACT) was down slightly at -0.86% on its net asset value (NAV) and -1.13% on its market price. However, for the past 3 months (April through June 2020), the Fund gained 19.18% on its net asset value (NAV) and 19.68% on its market price, while the market recovered from the COVID-related lows back in March.
As the Fund was near flat for the month, the funds winners and losers were near equal in number and a mixed bag of alcohol, tobacco and cannabis related securities.
Contributors / Detractors
Large holdings Thermo Fisher Scientific (NYSE: TMO) gained 3.83% in June, and Abbvie (NYSE: ABBV) returned 5.95%.
On the negative side, a top holding Boston Beer (NYSE: SAM) was down -4.97% after gaining 21% in May and 26% in April. Cannabis-related Scotts Miracle Gro (NYSE: SMG) lost -5.68% after gaining over 15% in May. Another May gainer, Catalent Inc. (NYSE: CTLT) lost -5.7%. Numerous smaller weightings detracted as well.
|Ticker||Security Description||Portfolio Weight %|
|TMO||THERMO FISHER SCIENTIFIC INC||7.79%|
|SAM||BOSTON BEER COMPANY INC-A||7.35%|
|LVMUY||LVMH MOET HENNESSY-UNSP ADR||5.19%|
|NVS||NOVARTIS AG-SPONSORED ADR||5.16%|
|BF/B||BROWN-FORMAN CORP-CLASS B||4.91%|
|MGPI||MGP INGREDIENTS INC||4.66%|
As of 06.30.2020. Cash is excluded.
Please see our complete Fund holdings at advisorshares.com/etfs/act. The holdings details are updated each market day.
Past Manager Commentary