CWS - AdvisorShares Focused Equity ETF

 

Seeks long term capital appreciation by primarily investing  in a focused group of U.S. exchange-listed equity securities. 

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5-Star
Morningstar Rated

Overall Morningstar Rating. Mid-Cap Blend. Based on risk-adjusted return out of 392 funds in the Mid-Cap Blend category as of March 31st, 2024.

Symbol Exchange Inception Date CUSIP Indicative NAV
CWS NYSE Arca 9/20/2016 00768Y560 CWS.NV
<strong>Why Invest in CWS?</strong>
  • Complement to any Broad-Based Index Fund — CWS’s strategy seeks to avoid the fundamentally weak companies that index-based funds generally hold and only invest in those perceived as “first in class” firms.
  • Low Turnover — CWS’s strategy is focused on the long term. That’s why CWS aims for a buy-and-hold strategy, trading as infrequently as possible and holding for as long as it can. CWS believes that a disciplined buy-and-hold strategy is ideal for riding out market storms.
  • Innovative Fulcrum Fee Structure — CWS’s Portfolio Strategist’s manager fee is directly tied to performance: outperformance is rewarded with a larger management fee; underperformance is penalized with a smaller management fee.
  • Disciplined Alpha Seeking Strategy — CWS is focused on a core group of what we believe are outstanding firms, offering investors a simple way to get instant exposure to a concentrated equity portfolio of companies with proven competitive advantages.
<strong>Where Can CWS Fit in a Traditional Portfolio?</strong>

As a potential source of alpha, CWS can serve as a complement to or a satellite equity holding alongside a broadly based domestic equity position.

<strong>Key Attributes</strong>
  • Concentrated Portfolio – CWS typically holds 25 stocks. By focusing on a small group of high-quality companies, the Portfolio Strategist feels that the portfolio can most efficiently exploit the advantages of owning top-tier companies.
  • Consistent Time-Tested Strategy – CWS’s principal investment strategy – holding a portfolio of 25 stocks representing the Portfolio Strategist’s highest conviction stock ideas – has been in place since 2006. A central concept to CWS’s strategy is quality companies can outperform the broad market especially when implemented with a long term, disciplined focus.
  • Bottom Up, Fundamental Stock Selection – CWS seeks to benefit from investing in the highest-quality companies. These are typically firms with proven management, solid balance sheets, competitive economic advantages, strong market niches, and a long history of steadily increasing sales, earnings, and dividends.
  • Disciplined and Patient Approach – The Portfolio Strategist understands that stock prices are much more volatile than their underlying fundamentals. That’s why CWS takes a long-term view. With longer holding periods, CWS seeks to benefit from the market’s tendency to overreact to any sign of trouble.
  • Value Focus – CWS strives to uncover hidden value and to buy the highest-quality stocks at the lowest possible prices. By focusing on value, CWS aims to reduce its risk to broad-based market drops while aiding in long-term capital appreciation.
<strong>About the Portfolio Strategist</strong>

Eddy J. Elfenbein

“Eddy” Elfenbein has been a leading writer in the financial community since starting the Crossing Wall Street (CWS) website and the CWS “Buy List” in 2005 and 2006, respectively. He has been widely quoted in the business and financial media, including Barron’s and the Wall Street Journal. Mr. Elfenbein often appears on CNBC and Bloomberg, where he shares his insights on the market and the economy. He also authors the weekly “CWS Market Review” and the monthly “Growth Stock Advisor” newsletters. Mr. Elfenbein earned his undergraduate degree from Washington College and an MBA in Finance and Management from the University of Connecticut.

 

CWS Overview from Eddy J. Elfenbein

 

Get an introduction to the CWS ETF directly from the portfolio strategist, Eddy J. Elfenbein.

 

Fund

Price History

Fund Data

4/11/2024
NAV $61.60
Change $-0.11
Shares Outstanding 2,360,000
Assets Under Management $145,365,858.9

 

 

 

 

Market Data

4/11/2024
Closing Price $61.62
Close Change $-0.19
Volume 15,036

Regulatory Data

4/11/2024
Premium Discount $0.100
30-Day Median bid-ask Spread 0.52
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 3/31/2024

CWS Market Cap

CWS Sector Allocation

CWS Fulcrum Fee

FUND

Performance

As of 3/31/2024

  NAV Market Price Return S&P 500 Index
1 Month 3.13 3.10 3.22
3 Months 7.31 6.93 10.56
YTD 7.31 6.93 10.56
1 Year 25.65 25.24 29.88
3 Years 12.89 12.78 11.49
5 Years 14.76 14.79 15.05
Since Inception (9/20/2016, Annualized) 13.86 13.87 14.71

As of 3/31/2024

  NAV Market Price Return S&P 500 Index
1 Month 3.13 3.1 3.22
3 Months 7.31 6.93 10.56
YTD 7.31 6.93 10.56
1 Year 25.65 25.24 29.88
3 Years 12.89 12.78 11.49
5 Years 14.76 14.79 15.05
Since Inception (9/20/2016, Annualized) 13.86 13.87 14.71

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 S&P 500 Index is a broad-based, unmanaged measurement of changes in stock market conditions based on the average of 500 widely held common stocks. One cannot invest directly in an index.

Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
04/11/2024 CWS MLR 600551204 MILLER INDUSTRIES INC/TENN 130,278.00 52.25 6,807,025.50 4.68% S
APH 032095101 AMPHENOL CORP-CL A 55,694.00 115.88 6,453,820.72 4.44% S
FI 337738108 FISERV INC 41,911.00 153.59 6,437,110.49 4.43% S
COR 03073E105 CENCORA INC 27,281.00 235.64 6,428,494.84 4.42% S
SYK 863667101 STRYKER CORP 18,548.00 346.29 6,422,986.92 4.42% S
OTIS 68902V107 OTIS WORLDWIDE CORP 61,852.00 97.97 6,059,640.44 4.17% S
HEI 422806109 HEICO CORP 31,009.00 193.79 6,009,234.11 4.13% S
TMO 883556102 THERMO FISHER SCIENTIFIC INC 10,431.00 574.57 5,993,339.67 4.12% S
SLGN 827048109 SILGAN HOLDINGS INC 121,191.00 48.68 5,899,577.88 4.06% S
ICE 45866F104 INTERCONTINENTAL EXCHANGE IN 43,558.00 133.48 5,814,121.84 4.00% S
CE 150870103 CELANESE CORP 35,735.00 160.38 5,731,179.30 3.94% S
HSY 427866108 HERSHEY CO/THE 30,238.00 189.5 5,730,101.00 3.94% S
ROL 775711104 ROLLINS INC 127,176.00 44.64 5,677,136.64 3.90% S
ABT 002824100 ABBOTT LABORATORIES 50,869.00 111.45 5,669,350.05 3.90% S
FICO 303250104 FAIR ISAAC CORP 4,755.00 1,191.68 5,666,438.40 3.90% S
SAIC 808625107 SCIENCE APPLICATIONS INTE 44,341.00 126.36 5,602,928.76 3.85% S
INTU 461202103 INTUIT INC 8,905.00 627.71 5,589,757.55 3.84% S
BR 11133T103 BROADRIDGE FINANCIAL SOLUTIO 27,370.00 200.75 5,494,527.50 3.78% S
AFL 001055102 AFLAC INC 68,764.00 79.64 5,476,364.96 3.77% S
MCO 615369105 MOODY'S CORP 14,236.00 383.55 5,460,217.80 3.76% S
PII 731068102 POLARIS INC 58,587.00 92.63 5,426,913.81 3.73% S
MGRC 580589109 MCGRATH RENTCORP 46,334.00 115.68 5,359,917.12 3.69% S
AGM 313148306 FEDERAL AGRIC MTG CORP-CL C 28,833.00 185.37 5,344,773.21 3.68% S
FDS 303075105 FACTSET RESEARCH SYSTEMS INC 11,793.00 427.27 5,038,795.11 3.47% S
AWK 030420103 AMERICAN WATER WORKS CO INC 42,430.00 117.82 4,999,102.60 3.44% S
X9USDBLYT BLACKROCK TREASURY TRUST INSTL 62 813,222.27 1 813,222.27 0.56% MM
CASH -19,640.40 100 -19,640.40 -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

Fees & Expenses

Management Fee 0.84%
Total Annual Operating Expenses 1.20%
Fee Waver and/or Expenses Reimbursement -0.36%
Total Annual Operating Expenses After Fee Waiver/Expense Reimbursement 0.84%*

*The Fund’s base management fee is 0.84% and will increase or decrease from 0.65% to 0.85% based on the trailing 12-month net returns of CWS compared to its benchmark. 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, 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. The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual issuers, industries or the stock market as a whole. Shares of the Fund may trade above or below their net asset value (“NAV”). The trading price of the Fund’s shares may deviate significantly from their NAV during periods of market volatility. There can be no assurance that an active trading market for the Fund’s shares will develop or be maintained. In addition, equity markets tend to move in cycles which may cause stock prices to fall over short or extended periods of time. Other Fund risks include market risk, liquidity risk, large cap, mid cap, and small cap risk. Please see prospectus for details regarding risk.

 

  • The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) 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 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) 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, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results. 

 

  • ©2024 Morningstar, Inc. All Rights Reserved. Morningstar and/or its content providers are the proprietors of this information; do not permit its unauthorized copying or distribution; do not warrant it to be accurate, complete or timely; and are not responsible for damages or losses arising from its use.  Past performance is no guarantee of future results. 

 

  • CWS received five stars for the overall rating among 392 funds, five stars for the 3-year rating among 392 funds, five stars for the 5-year rating among 360 funds in Morningstar’s Mid-Cap Blend category as of March 31st, 2024. 
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  • Definitions  
    • 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