(DWEQ) DORSEY WRIGHT ALPHA EQUAL WEIGHT ETF

The AdvisorShares Dorsey Wright Alpha Equal Weight ETF (Ticker: DWEQ) is an actively managed ETF that takes a modern sector rotation approach to domestic large cap equity equal weight investing. Using Nasdaq Dorsey Wright’s (Dorsey Wright) disciplined and quantitative proprietary relative strength research, DWEQ implements a two-factor approach to invest in top-ranked U.S. equity securities within the tax-efficient structure of an ETF. First, industry sectors are ranked based on relative strength. Next, from the three top rated sectors, individual equity securities are selected based on their relative strength ratings with those displaying both a buy or bullish signal and rising price momentum (both the “B” and “X” columns in point and figure charting) given higher ratings. DWEQ systematically reviews and rotates into the highest ranked sectors by reallocating to the highest ranked equity securities in those sectors. DWEQ also utilizes defensive investing features, allowing it to gradually add cash based on overall market momentum indicators. When cash is defensively added to the portfolio, DWEQ will reassess the strategy’s momentum indicators so as to move back into equity exposure once broad equity strength is displayed.

DWEQ’s investment strategy follows Dorsey Wright’s core philosophy of relative strength investing – buying securities that have appreciated in price more than other securities within the investment universe and holding those securities until they exhibit sell signals. The systematic nature of Dorsey Wright’s process removes emotion from the day-to-day decision making. Stock selection is strictly based on the highest ranked securities within the highest ranked sectors as measured by the relative strength investment process.

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.

The Advisor has contractually agreed to waive its fees and/or reimburse expenses in order to keep net expenses(excluding amounts payable pursuant to any plan adopted in accordance with Rule 12b-1, interest expense, taxes, brokerage commissions, acquired fund fees and expenses, other expenditures which are capitalized in accordance with generally accepted accounting principles, and extraordinary expenses) from exceeding 0.99% of each Fund’s average daily net assets for at least one year from the date of this Prospectus.