NAV as of 6/11/2021
$28.07
1 Day NAV Change as of 6/11/2021
$0.16
| Symbol | Exchange | Inception Date | CUSIP | Indicative Value |
|---|---|---|---|---|
| DWEQ | Nasdaq | 12/26/2019 | 00768Y461 | DWEQ.IV |
<strong>Why Invest in DWEQ?</strong>
- Alpha-Seeking Complement to Broad Based Exposure – Broad based indexes, by their nature, have the good and the bad, the strong and the weak. DWEQ seeks to add alpha using Dorsey Wright’s historically successful trend following process that looks to identify the strongest sectors and companies, while eliminating the weakest performers.
- Active Management Advantage – Many large-cap ETFs passively invest owning the majority of the stocks represented in their benchmark index, including those with less than attractive investing attributes. DWEQ’s investment process systematically screens 1,000 of the large U.S. equity securities for inclusion or removal from its highly selective, active portfolio.
- Sector Rotation – Numerous academic studies have shown that successful sector rotation is one of the important determinants of portfolio success. Sectors rotate in and out of season. Sometimes those trends last for years, other times for months. By investing in the highest relative strength rated sectors, DWEQ seeks to capture the growth of the positive outliers on the bell curve of sector returns while avoiding the negative outliers.
- Systematic Defense – Because we believe avoiding severe losses helps to preserve capital and can contribute to good performance over time, DWEQ uses a rules-based approach to tactically add cash or short-term fixed income exposure to the portfolio when momentum indicators are triggered. The temporary defensive position is to try to shield the portfolio from certain catastrophic market types.
<strong>Where Can DWEQ Fit in a Traditional Portfolio?</strong>
DWEQ can serve as an alpha-seeking complement to a broad-based market cap weighted position, such as a fund that tracks the S&P 500 Index, as well as, a stand-alone investment solution for domestic large cap equity exposure.
<strong>Key Attributes</strong>
- Concentrated Portfolio– DWEQ typically has a portfolio of 40 to 50 large cap domestic equities.
- Targeted Sector Exposure – By tactically allocating to the top-ranked sectors based on relative strength analysis, DWEQ will adjust and rotate into the sectors with the highest relative strength, and equally allocate across those sectors.
- Highest Ranked Stocks– Stocks selected for each sector must demonstrate both a buy or bullish signal and rising price momentum (both the “B” and “X” columns in point and figure charting). DWEQ will systematically rebalance on an equal weight basis into the most favorably identified individual securities within the top ranked sectors.
- Relative Strength Analysis– DWEQ uses a relative strength strategy, which compares price performance within a universe of stocks and is designed to remove human emotion from the decision process. This is a disciplined, repeatable process to systematically identify and select which sectors and stocks to own, as well as, which to avoid or sell.
- Tactical Defensive Investing– When the market demonstrates overall weakness, DWEQ will gradually allocate to cash or short term fixed income. This cash allocation will incrementally increase or decrease based on whether the momentum indicator is showing overall market strength or weakness versus cash.
<strong>About the Portfolio Manager</strong>
Nasdaq Dorsey Wright, Model Manager Nasdaq Dorsey Wright is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has offered comprehensive investment research and analysis through their Global Technical Research Platform. Dorsey Wright’s expertise is technical analysis, utilizing Point & Figure Charting, Relative Strength Analysis, and numerous other technical and systematic tools to analyze market data and deliver actionable insights.
Dan Ahrens
Dan Ahrens is managing director and chief operating officer of AdvisorShares, and also portfolio manager of the AdvisorShares Vice ETF (Ticker: ACT). Dan carries over two decades of experience in the financial services industry serving in a variety of senior-level capacities. He founded Ahrens Advisors, L.P., an SEC-registered investment advisor, where he was portfolio manager of the Ladenburg Thalmann Gaming and Casino Fund. Dan also served as president of the MUTUALS.com Funds, where he launched the Vice Fund (VICEX) and served as its original portfolio manager. He was also the portfolio manager of the Generation Wave Growth Fund (GWGFX). During that time, he was also president and chief compliance officer of Mutuals Advisors, Inc, and acted as president, treasurer and financial & operations officer of an affiliated broker dealer firm. Dan is the author of “Investing in Vice” (St. Martin’s Press, 2004) and has appeared prominently across financial media outlets and major national and trade publications. He earned a Bachelor in Business Administration in Finance from Texas Tech University.
Fund
As of 6/11/2021
| NAV | $28.07 | Closing Price | $28.04 |
| Change | $0.16 | Close Change | $0.12 |
| Shares Outstanding | 2,910,000 | Volume | 2 |
| 4PM Bid/Offer Midpoint | $28.06 | Premium Discount | $-0.02 |
| Assets Under Management | $81,678,497.49 | 30-Day Median bid-ask Spread | 0.0024757 |
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 4/30/2021
DWEQ Market Cap
DWEQ Sector Allocation
DWEQ Cash Holding
| Date | Account Symbol | Stock Ticker | Security Number | Security Description | Shares/Par (Full) | Price (Base) | Traded Market Value (Base) | Portfolio Weight % | Asset Group |
|---|---|---|---|---|---|---|---|---|---|
| 06/11/2021 | DWEQ | TRGP | 87612G101 | TARGA RESOURCES CORP | 51,131.00 | 46.93 | 2,399,577.83 | 2.94% | S |
| ARES | 03990B101 | ARES MANAGEMENT CORP - A | 37,076.00 | 59.29 | 2,198,236.04 | 2.69% | S | ||
| BX | 09260D107 | BLACKSTONE GROUP INC/THE | 22,332.00 | 95.41 | 2,130,696.12 | 2.61% | S | ||
| MPC | 56585A102 | MARATHON PETROLEUM CORP | 33,586.00 | 63.18 | 2,121,963.48 | 2.60% | S | ||
| EQT | 26884L109 | EQT CORP | 92,138.00 | 23.02 | 2,121,016.76 | 2.60% | S | ||
| HEI | 422806109 | HEICO CORP | 14,754.00 | 143.34 | 2,114,838.36 | 2.59% | S | ||
| APO | 03768E105 | APOLLO GLOBAL MANAGEMENT INC | 36,587.00 | 57.79 | 2,114,362.73 | 2.59% | S | ||
| TT | G8994E103 | TRANE TECHNOLOGIES PLC | 11,365.00 | 185.23 | 2,105,138.95 | 2.58% | FS | ||
| SLB | 806857108 | SCHLUMBERGER LTD | 60,189.00 | 34.89 | 2,099,994.21 | 2.57% | FS | ||
| KKR | 48251W104 | KKR & CO INC | 37,002.00 | 56.50 | 2,090,613.00 | 2.56% | S | ||
| HON | 438516106 | HONEYWELL INTERNATIONAL INC | 9,264.00 | 225.18 | 2,086,067.52 | 2.55% | S | ||
| HES | 42809H107 | HESS CORP | 23,208.00 | 89.68 | 2,081,293.44 | 2.55% | S | ||
| BLDR | 12008R107 | BUILDERS FIRSTSOURCE INC | 47,362.00 | 43.86 | 2,077,297.32 | 2.54% | S | ||
| TDG | 893641100 | TRANSDIGM GROUP INC | 3,138.00 | 661.94 | 2,077,167.72 | 2.54% | S | ||
| PXD | 723787107 | PIONEER NATURAL RESOURCES CO | 12,709.00 | 162.90 | 2,070,296.10 | 2.53% | S | ||
| DFS | 254709108 | DISCOVER FINANCIAL SERVICES | 16,788.00 | 123.15 | 2,067,442.20 | 2.53% | S | ||
| BKR | 05722G100 | BAKER HUGHES CO | 79,629.00 | 25.91 | 2,063,187.39 | 2.53% | S | ||
| ITW | 452308109 | ILLINOIS TOOL WORKS | 8,860.00 | 232.75 | 2,062,165.00 | 2.52% | S | ||
| EOG | 26875P101 | EOG RESOURCES INC | 24,115.00 | 85.44 | 2,060,385.60 | 2.52% | S | ||
| HAL | 406216101 | HALLIBURTON CO | 85,639.00 | 24.03 | 2,057,905.17 | 2.52% | S | ||
| SBNY | 82669G104 | SIGNATURE BANK | 8,262.00 | 248.33 | 2,051,702.46 | 2.51% | S | ||
| CLR | 212015101 | CONTINENTAL RESOURCES INC/OK | 57,412.00 | 35.53 | 2,039,848.36 | 2.50% | S | ||
| OMF | 68268W103 | ONEMAIN HOLDINGS INC | 34,388.00 | 59.30 | 2,039,208.40 | 2.50% | S | ||
| AJG | 363576109 | ARTHUR J GALLAGHER & CO | 14,021.00 | 144.61 | 2,027,576.81 | 2.48% | S | ||
| ALLY | 02005N100 | ALLY FINANCIAL INC | 36,764.00 | 54.79 | 2,014,299.56 | 2.47% | S | ||
| WSO | 942622200 | WATSCO INC | 7,048.00 | 285.72 | 2,013,754.56 | 2.47% | S | ||
| APA | 03743Q108 | APA CORP | 88,328.00 | 22.63 | 1,998,862.64 | 2.45% | S | ||
| IEX | 45167R104 | IDEX CORP | 9,031.00 | 220.25 | 1,989,077.75 | 2.44% | S | ||
| AOS | 831865209 | SMITH (A.O.) CORP | 28,809.00 | 68.94 | 1,986,092.46 | 2.43% | S | ||
| UHAL | 023586100 | AMERCO | 3,575.00 | 554.59 | 1,982,659.25 | 2.43% | S | ||
| CBSH | 200525103 | COMMERCE BANCSHARES INC | 26,349.00 | 75.22 | 1,981,971.78 | 2.43% | S | ||
| SNA | 833034101 | SNAP-ON INC | 8,216.00 | 238.88 | 1,962,638.08 | 2.40% | S | ||
| SIVB | 78486Q101 | SVB FINANCIAL GROUP | 3,488.00 | 561.79 | 1,959,523.52 | 2.40% | S | ||
| ODFL | 679580100 | OLD DOMINION FREIGHT LINE | 7,771.00 | 251.03 | 1,950,754.13 | 2.39% | S | ||
| WAL | 957638109 | WESTERN ALLIANCE BANCORP | 20,037.00 | 97.23 | 1,948,197.51 | 2.39% | S | ||
| DVN | 25179M103 | DEVON ENERGY CORP | 66,033.00 | 29.29 | 1,934,106.57 | 2.37% | S | ||
| TTC | 891092108 | TORO CO | 18,035.00 | 105.59 | 1,904,315.65 | 2.33% | S | ||
| WMS | 00790R104 | ADVANCED DRAINAGE SYSTEMS IN | 17,778.00 | 105.06 | 1,867,756.68 | 2.29% | S | ||
| SAIA | 78709Y105 | SAIA INC | 9,007.00 | 205.66 | 1,852,379.62 | 2.27% | S | ||
| SITE | 82982L103 | SITEONE LANDSCAPE SUPPLY INC | 11,276.00 | 161.66 | 1,822,878.16 | 2.23% | S | ||
| X9USDBLYT | BLACKROCK TREASURY TRUST INSTL 62 | 161,787.25 | 1.00 | 161,787.25 | 0.20% | MM | |||
| CASH | (6,878.22) | 100.00 | 0.00 | -0.01% | CA |
FUND
Performance
As of 5/31/2021
| NAV | Market Price Return | S&P 500 Index | |
|---|---|---|---|
| 1 Month | 0.56 | 0.39 | 0.70 |
| 3 Months | 1.62 | 1.47 | 10.72 |
| YTD | 2.10 | 2.23 | 12.62 |
| Since Inception (12/26/2019, Annualized) | 8.98 | 8.99 | 22.07 |
As of 3/31/2021
| NAV | Market Price Return | S&) 500 Index | |
|---|---|---|---|
| 1 Month | -4.18 | -4.29 | 4.38 |
| 3 Months | -3.73 | -3.57 | 6.17 |
| YTD | -3.73 | -3.57 | 6.17 |
| Since Inception (12/26/2019, Annualized) | 5.22 | 5.25 | 19.61 |
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
Fees & Expenses
| Management Fee | 0.75% |
| Other Expenses | 0.44% |
| Gross Expenses Ratio | 1.23% |
| Fee Waiver and/or Expense Reimbursement | -0.20% |
| Expense Ratio | 1.03% |
Last Ten
Fund Distributions
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- 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.
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- Investing Involves risk including possible loss of principal. The Advisor’s judgment about the markets, the economy, or companies may not anticipate actual market movements, economic conditions or company performance, and these factors may affect the return on your investment. 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. The Fund may experience relatively high portfolio turnover, which may result in increased transaction costs and performance that is lower than expected and potentially greater tax exposure.
- Investing Involves risk including possible loss of principal. The Advisor’s judgment about the markets, the economy, or companies may not anticipate actual market movements, economic conditions or company performance, and these factors may affect the return on your investment. 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. The Fund may experience relatively high portfolio turnover, which may result in increased transaction costs and performance that is lower than expected and potentially greater tax exposure.
- Shares are bought and sold at market price not net asset value (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.
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