NAV as of 6/16/2023
$31.91
1 Day NAV Change as of 6/16/2023
$-0.18
DWMC
Overview
Small companies possess substantial upside potential but can remain be subject to several investing inefficiencies – including lack of public research, trading illiquidity, and volatility – which highlights the need for an experienced portfolio manager when investing in this compelling area of the equity market. The AdvisorShares Dorsey Wright Small Company ETF (Ticker: DWMC) is an actively managed ETF that seeks long-term capital appreciation by investing in exchange-listed, micro- and small-cap equities with sufficient liquidity and a market capitalization of less than $2 billion. DWMC’s investment strategy follows Nasdaq Dorsey Wright’s core philosophy of relative strength investing – a proprietary systematically-driven methodology that buys securities that have appreciated in price more than other equities within its investment universe and holding those securities until they exhibit sell signals. No company fundamental data is involved in the analysis and 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 as measured by the relative strength investment process.
| Symbol | Exchange | Inception Date | CUSIP | Indicative NAV |
|---|---|---|---|---|
| DWMC | Nasdaq | 7/10/2018 | 00768Y537 | DWMC.NV |
<strong>Why Invest in DWMC?</strong>
- Alpha-Seeking Small Company Exposure – Research on micro and small-cap companies is often scarce, which can present an ideal opportunity for alpha generation. DWMC’s portfolio manager seeks to add alpha by implementing Dorsey Wright’s relative strength process that seeks to identify the strongest companies while eliminating the weakest performers.
- Historical Upside Potential – It is often easier for smaller companies to grow than larger companies. We believe the micro/small-cap universe has the potential to provide competitive long-term performance over larger-cap companies.
- Manager Diversification – Through an established portfolio manager, spreading your investment risk among equities not correlated to the broader market can help diversify and mitigate your overall portfolio risk.
- Strategy Diversification – The systematic portfolio management process takes several factors into account in attempt to limit unnecessary risk and maximize exposure to the momentum factor. If a security becomes too large as a percentage of the portfolio it is trimmed to bring it back in line with the other security weights. The process seeks to spread out allocations within its stock model. The objective sell discipline represents an important component of the portfolio construction process.
- Active Management Advantage – Most equity ETFs passively invest: owning the majority of the stocks represented in their benchmark index, including those with less than attractive investing attributes. DWMC’s portfolio manager systematically screens small company stocks for inclusion and removal from its highly selective, active portfolio in an attempt to limit exposure to securities identified as having unattractive investing attributes
<strong>Where Can DWMC Fit in a Traditional Portfolio?</strong>
DWMC may provide a high-growth complement or satellite equity holding to a broad-based equity allocation. This ETF can be used to diversify a U.S. stock allocation and to seek long-term growth in your portfolio.
<strong>Key Attributes</strong>
- High Conviction Portfolio of Top-Ranked Small Companies – DWMC holds a portfolio of approximately 150 exchange-listed, micro- and small-cap equities that demonstrate the most favorable relative strength characteristics according to Dorsey Wright’s proprietary stock rotation model. If a company’s ranking deteriorates, it is replaced in the portfolio with another company with a stronger ranking.
- Tomorrow’s Potential Leaders – Some of the largest companies in the world started out as micro-cap companies. DWMC seeks to capitalize on the smallest-sized companies as they are potentially entering their greatest periods of growth. Micro- and small-cap companies may also benefit from merger and acquisition activity.
- Systematic Approach – DWMC’s investment process is entirely systematic and designed to remove human emotion from the decision process. This approach allows the portfolio manager to continually execute their proven proprietary investment process through all types of different market conditions. The process also allows the portfolio manager the ability to analyze a large number of securities that may become very different over time.
- Relative Strength Analysis – DWMC 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.
- 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 the technical, systematic ranking system and does not allow for any portfolio manager discretion or overrides.
<strong>About the Portfolio Manager</strong>
John G. Lewis, CMT, Senior Portfolio Manager John Lewis is a Senior Portfolio Manager with Nasdaq Dorsey Wright. In this role, Mr. Lewis is responsible for the investment strategies used in various different indices and models. Since joining the firm in 2002, Mr. Lewis has developed strategies for the firm’s Systematic Relative Strength series of separate accounts, the Technical Leaders Index methodology, global asset allocation strategies, and multiple series of UITs. His work is technically driven and focuses on relative strength and momentum as the main factors in the investment process. One of the foremost experts on relative strength investing, Mr. Lewis has authored several original research papers on the subject. He is a Chartered Market Technician (CMT) and a member of the Market Technician’s Association and the American Association of Professional Technical Analysts. Mr. Lewis earned an M.B.A. in Finance from the University of Southern California and a B.A. from the University of San Diego.
Fund
Price History
Fund Data
6/16/2023| NAV | $31.91 |
| Change | $-0.18 |
| Shares Outstanding | 135,000 |
| Assets Under Management | $4,307,501.48 |
Market Data
6/16/2023| Closing Price | $31.98 |
| Close Change | $-0.06 |
| Volume | 161 |
Regulatory Data
6/16/2023| Premium Discount | $0.06 |
| 30-Day Median bid-ask Spread | 0.007762 |
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 5/31/2023
| NAV | Market Price Return | Russell Microcap Index | |
|---|---|---|---|
| 1 Month | -0.95 | -0.33 | 1.41 |
| 3 Months | -12.28 | -11.7 | -10 |
| YTD | -8.51 | -8.37 | -4.01 |
| 1 Year | -14.02 | -13.83 | -9.19 |
| 3 Years | 13.89 | 14.07 | 8.97 |
| Since Inception (7/10/2018, Annualized) | 4.19 | 4.24 | 0.23 |
As of 3/31/2023
| NAV | Market Price Return | Russell Microcap Index | |
|---|---|---|---|
| 1 Month | -7.03 | -6.65 | -8.89 |
| 3 Months | -3.04 | -3.13 | -2.83 |
| YTD | -3.04 | -3.13 | -2.83 |
| 1 Year | -12.74 | -12.84 | -17.93 |
| 3 Years | 25.88 | 25.94 | 17.19 |
| Since Inception (7/10/2018, Annualized) | 5.63 | 5.63 | 0.5 |
*Effective June 10, 2023, the Fund’s name changed to AdvisorShares Dorsey Wright Small Company ETF, formerly AdvisorShares Dorsey Wright Micro-Cap ETF. In addition, the Fund changed investment strategies to a small and micro-cap strategy. Prior to June 10, 2023, performance reflects a strategy which pursued only micro-cap securities.
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.
| Date | Account Symbol | Stock Ticker | Security ID | Security Description | Shares | Share Price | Market Value | Portfolio Weight | Asset Group |
|---|---|---|---|---|---|---|---|---|---|
| 06/16/2023 | DWMC | BELFB | 077347300 | BEL FUSE INC-CL B | 1,442.00 | 58.32 | 84,097.44 | 1.95% | S |
| PBT | 714236106 | PERMIAN BASIN ROYALTY TRUST | 3,157.00 | 24.57 | 77,567.49 | 1.80% | S | ||
| SPLP | 85814R107 | STEEL PARTNERS HOLDINGS LP | 1,714.00 | 43.54 | 74,628.25 | 1.73% | S | ||
| VRTV | 923454102 | VERITIV CORP | 521 | 122.95 | 64,056.95 | 1.49% | S | ||
| PLPC | 740444104 | PREFORMED LINE PRODUCTS CO | 336 | 170.33 | 57,230.88 | 1.33% | S | ||
| UFPT | 902673102 | UFP TECHNOLOGIES INC | 305 | 186.02 | 56,736.10 | 1.32% | S | ||
| MOD | 607828100 | MODINE MANUFACTURING CO | 1,718.00 | 31 | 53,258.00 | 1.24% | S | ||
| ETNB | 282559103 | 89BIO INC | 2,609.00 | 20.01 | 52,206.09 | 1.21% | S | ||
| DFIN | 25787G100 | DONNELLEY FINANCIAL SOLUTION | 1,071.00 | 45.39 | 48,612.69 | 1.13% | S | ||
| STRL | 859241101 | STERLING INFRASTRUCTURE INC | 931 | 51.86 | 48,281.66 | 1.12% | S | ||
| MYRG | 55405W104 | MYR GROUP INC/DELAWARE | 348 | 133.1 | 46,318.80 | 1.08% | S | ||
| AMR | 020764106 | ALPHA METALLURGICAL RESOURCE | 291 | 157.56 | 45,849.96 | 1.06% | S | ||
| CBAY | 23257D103 | CYMABAY THERAPEUTICS INC | 5,547.00 | 8.17 | 45,318.99 | 1.05% | S | ||
| LMB | 53263P105 | LIMBACH HOLDINGS INC | 1,799.00 | 24.09 | 43,337.91 | 1.01% | S | ||
| TRNS | 893529107 | TRANSCAT INC | 464 | 88.75 | 41,180.00 | 0.96% | S | ||
| GDEN | 381013101 | GOLDEN ENTERTAINMENT INC | 945 | 42.62 | 40,275.90 | 0.94% | S | ||
| TGH | G8766E109 | TEXTAINER GROUP HOLDINGS LTD | 991 | 40.21 | 39,848.11 | 0.93% | FS | ||
| DO | 25271C201 | DIAMOND OFFSHORE DRILLING IN | 3,231.00 | 12.22 | 39,482.82 | 0.92% | S | ||
| DGII | 253798102 | DIGI INTERNATIONAL INC | 1,035.00 | 38 | 39,330.00 | 0.91% | S | ||
| CECO | 125141101 | CECO ENVIRONMENTAL CORP | 2,906.00 | 13.17 | 38,272.02 | 0.89% | S | ||
| NRP | 63900P608 | NATURAL RESOURCE PARTNERS LP | 794 | 47.99 | 38,104.06 | 0.88% | S | ||
| LPG | Y2106R110 | DORIAN LPG LTD | 1,546.00 | 24.47 | 37,830.62 | 0.88% | FS | ||
| ESQ | 29667J101 | ESQUIRE FINANCIAL HOLDINGS I | 782 | 47.59 | 37,215.38 | 0.86% | S | ||
| CVLG | 22284P105 | COVENANT LOGISTICS GROUP INC | 866 | 39.85 | 34,510.10 | 0.80% | S | ||
| ALDX | 01438T106 | ALDEYRA THERAPEUTICS INC | 3,223.00 | 10.52 | 33,905.96 | 0.79% | S | ||
| TNK | Y8565N300 | TEEKAY TANKERS LTD-CLASS A | 877 | 37.88 | 33,220.76 | 0.77% | FS | ||
| VYGR | 92915B106 | VOYAGER THERAPEUTICS INC | 2,521.00 | 12.97 | 32,697.37 | 0.76% | S | ||
| HQI | 433535101 | HIREQUEST INC | 1,218.00 | 26.84 | 32,691.12 | 0.76% | S | ||
| GNE | 372284208 | GENIE ENERGY LTD-B | 2,335.00 | 13.85 | 32,339.75 | 0.75% | S | ||
| NBN | 66405S100 | NORTHEAST BANK | 750 | 43.03 | 32,272.50 | 0.75% | S | ||
| SCPH | 810648105 | SCPHARMACEUTICALS INC | 2,970.00 | 10.7 | 31,779.00 | 0.74% | S | ||
| POWL | 739128106 | POWELL INDUSTRIES INC | 557 | 56.69 | 31,576.33 | 0.73% | S | ||
| HOV | 442487401 | HOVNANIAN ENTERPRISES-A | 320 | 97.82 | 31,302.40 | 0.73% | S | ||
| TIPT | 88822Q103 | TIPTREE INC | 2,274.00 | 13.76 | 31,290.24 | 0.73% | S | ||
| HAYN | 420877201 | HAYNES INTERNATIONAL INC | 605 | 51.55 | 31,187.75 | 0.72% | S | ||
| INOD | 457642205 | INNODATA INC | 2,590.00 | 11.94 | 30,924.60 | 0.72% | S | ||
| TK | Y8564W103 | TEEKAY CORP | 5,086.00 | 6.03 | 30,668.58 | 0.71% | FS | ||
| HLX | 42330P107 | HELIX ENERGY SOLUTIONS GROUP | 4,540.00 | 6.75 | 30,645.00 | 0.71% | S | ||
| XPOF | 98422X101 | XPONENTIAL FITNESS INC-A | 1,080.00 | 28.08 | 30,326.40 | 0.70% | S | ||
| THR | 88362T103 | THERMON GROUP HOLDINGS INC | 1,199.00 | 24.95 | 29,915.05 | 0.69% | S | ||
| BH | 08986R309 | BIGLARI HOLDINGS INC-B | 147 | 198.7 | 29,208.90 | 0.68% | S | ||
| KE | 49428J109 | KIMBALL ELECTRONICS INC | 1,065.00 | 27.27 | 29,042.55 | 0.67% | S | ||
| TNP | G9108L173 | TSAKOS ENERGY NAVIGATION LTD | 1,552.00 | 18.66 | 28,960.32 | 0.67% | FS | ||
| CRAI | 12618T105 | CRA INTERNATIONAL INC | 285 | 100.69 | 28,696.65 | 0.67% | S | ||
| NATH | 632347100 | NATHAN'S FAMOUS INC | 359 | 79.64 | 28,590.76 | 0.66% | S | ||
| GLP | 37946R109 | GLOBAL PARTNERS LP | 929 | 30.73 | 28,548.17 | 0.66% | S | ||
| HCCI | 42726M106 | HERITAGE-CRYSTAL CLEAN INC | 767 | 36.79 | 28,217.93 | 0.66% | S | ||
| EZPW | 302301106 | EZCORP INC-CL A | 3,360.00 | 8.34 | 28,022.40 | 0.65% | S | ||
| NVEC | 629445206 | NVE CORP | 315 | 88.01 | 27,723.15 | 0.64% | S | ||
| BWMN | 103002101 | BOWMAN CONSULTING GROUP LTD | 837 | 33.04 | 27,654.48 | 0.64% | S | ||
| PPSI | 723836300 | PIONEER POWER SOLUTIONS INC | 3,330.00 | 8.27 | 27,539.10 | 0.64% | S | ||
| ATRO | 046433108 | ASTRONICS CORP | 1,529.00 | 17.88 | 27,338.52 | 0.63% | S | ||
| SBR | 785688102 | SABINE ROYALTY TRUST | 390 | 68.92 | 26,878.80 | 0.62% | S | ||
| TCMD | 87357P100 | TACTILE SYSTEMS TECHNOLOGY I | 1,100.00 | 24.42 | 26,862.00 | 0.62% | S | ||
| ALTG | 02128L106 | ALTA EQUIPMENT GROUP INC | 1,667.00 | 16.1 | 26,838.70 | 0.62% | S | ||
| CHUY | 171604101 | CHUY'S HOLDINGS INC | 665 | 40.08 | 26,653.20 | 0.62% | S | ||
| CPLP | Y11082206 | CAPITAL PRODUCT PARTNERS LP | 1,927.00 | 13.82 | 26,631.14 | 0.62% | FS | ||
| KRP | 49435R102 | KIMBELL ROYALTY PARTNERS LP | 1,767.00 | 15.05 | 26,593.35 | 0.62% | S | ||
| ODC | 677864100 | OIL-DRI CORP OF AMERICA | 480 | 54.91 | 26,356.80 | 0.61% | S | ||
| LQDA | 53635D202 | LIQUIDIA CORP | 3,050.00 | 8.63 | 26,321.50 | 0.61% | S | ||
| MLTX | 61559X104 | MOONLAKE IMMUNOTHERAPEUTICS | 1,000.00 | 26.08 | 26,080.00 | 0.61% | FS | ||
| INSE | 45782N108 | INSPIRED ENTERTAINMENT INC | 1,799.00 | 14.49 | 26,067.51 | 0.61% | S | ||
| DAKT | 234264109 | DAKTRONICS INC | 3,790.00 | 6.73 | 25,506.70 | 0.59% | S | ||
| ELVN | 29337E102 | ENLIVEN THERAPEUTICS INC | 1,237.00 | 20.57 | 25,445.09 | 0.59% | S | ||
| ZEUS | 68162K106 | OLYMPIC STEEL INC | 557 | 45.44 | 25,310.08 | 0.59% | S | ||
| HCKT | 404609109 | HACKETT GROUP INC/THE | 1,172.00 | 21.46 | 25,151.12 | 0.58% | S | ||
| SGU | 85512C105 | STAR GROUP LP | 1,711.00 | 14.54 | 24,877.94 | 0.58% | S | ||
| GLRE | G4095J109 | GREENLIGHT CAPITAL RE LTD-A | 2,522.00 | 9.85 | 24,841.70 | 0.58% | FS | ||
| BBSI | 068463108 | BARRETT BUSINESS SVCS INC | 280 | 88.65 | 24,822.00 | 0.58% | S | ||
| CAL | 129500104 | CALERES INC | 983 | 24.68 | 24,260.44 | 0.56% | S | ||
| SAMG | 828359109 | SILVERCREST ASSET MANAGEME-A | 1,146.00 | 20.9 | 23,951.40 | 0.56% | S | ||
| ALPN | 02083G100 | ALPINE IMMUNE SCIENCES INC | 2,117.00 | 11.28 | 23,879.76 | 0.55% | S | ||
| DXPE | 233377407 | DXP ENTERPRISES INC | 660 | 35.95 | 23,727.00 | 0.55% | S | ||
| NVCT | 67080T108 | NUVECTIS PHARMA INC | 1,300.00 | 18.1 | 23,530.00 | 0.55% | S | ||
| VPG | 92835K103 | VISHAY PRECISION GROUP | 621 | 37.86 | 23,511.06 | 0.55% | S | ||
| TAST | 14574X104 | CARROLS RESTAURANT GROUP INC | 4,500.00 | 5.19 | 23,355.00 | 0.54% | S | ||
| CTLP | 138103106 | CANTALOUPE INC | 3,100.00 | 7.5 | 23,250.00 | 0.54% | S | ||
| WEAV | 94724R108 | WEAVE COMMUNICATIONS INC | 2,820.00 | 8.22 | 23,180.40 | 0.54% | S | ||
| HWKN | 420261109 | HAWKINS INC | 470 | 48.92 | 22,992.40 | 0.53% | S | ||
| ETD | 297602104 | ETHAN ALLEN INTERIORS INC | 830 | 27.55 | 22,866.50 | 0.53% | S | ||
| PANL | G6891L105 | PANGAEA LOGISTICS SOLUTIONS | 3,400.00 | 6.72 | 22,848.00 | 0.53% | FS | ||
| RCEL | 05380C102 | AVITA MEDICAL INC | 1,320.00 | 17.22 | 22,730.40 | 0.53% | S | ||
| AMOT | 019330109 | ALLIED MOTION TECHNOLOGIES | 594 | 38.11 | 22,637.34 | 0.53% | S | ||
| MACK | 590328209 | MERRIMACK PHARMACEUTICALS IN | 1,799.00 | 12.46 | 22,415.54 | 0.52% | S | ||
| PKE | 70014A104 | PARK AEROSPACE CORP | 1,606.00 | 13.92 | 22,355.52 | 0.52% | S | ||
| CARE | 146103106 | CARTER BANKSHARES INC | 1,444.00 | 15.44 | 22,295.36 | 0.52% | S | ||
| BRT | 055645303 | BRT APARTMENTS CORP | 1,120.00 | 19.89 | 22,276.80 | 0.52% | S | ||
| IMMR | 452521107 | IMMERSION CORPORATION | 3,061.00 | 7.27 | 22,253.47 | 0.52% | S | ||
| CWCO | G23773107 | CONSOLIDATED WATER CO-ORD SH | 986 | 22.45 | 22,135.70 | 0.51% | FS | ||
| YORW | 987184108 | YORK WATER CO | 505 | 43.75 | 22,093.75 | 0.51% | S | ||
| AVNW | 05366Y201 | AVIAT NETWORKS INC | 675 | 32.73 | 22,092.75 | 0.51% | S | ||
| CCBG | 139674105 | CAPITAL CITY BANK GROUP INC | 684 | 32.2 | 22,024.80 | 0.51% | S | ||
| NGL | 62913M107 | NGL ENERGY PARTNERS LP | 5,260.00 | 4.18 | 21,986.80 | 0.51% | S | ||
| NECB | 664121100 | NORTHEAST COMMUNITY BANCORP | 1,464.00 | 15.01 | 21,974.64 | 0.51% | S | ||
| BLBD | 095306106 | BLUE BIRD CORP | 989 | 22.18 | 21,936.02 | 0.51% | S | ||
| ITRN | M6158M104 | ITURAN LOCATION AND CONTROL | 863 | 25.41 | 21,928.83 | 0.51% | FS | ||
| LEGH | 52472M101 | LEGACY HOUSING CORP | 1,040.00 | 21.03 | 21,871.20 | 0.51% | S | ||
| GTX | 366505105 | GARRETT MOTION INC | 2,868.00 | 7.6 | 21,796.80 | 0.51% | S | ||
| SXC | 86722A103 | SUNCOKE ENERGY INC | 2,793.00 | 7.77 | 21,701.61 | 0.50% | S | ||
| HCI | 40416E103 | HCI GROUP INC | 375 | 57.72 | 21,645.00 | 0.50% | S | ||
| FSBW | 30263Y104 | FS BANCORP INC | 737 | 29.32 | 21,608.84 | 0.50% | S | ||
| TNYA | 87990A106 | TENAYA THERAPEUTICS INC | 3,220.00 | 6.71 | 21,606.20 | 0.50% | S | ||
| RWAY | 78163D100 | RUNWAY GROWTH FINANCE CORP | 1,800.00 | 11.98 | 21,564.00 | 0.50% | S | ||
| LYTS | 50216C108 | LSI INDUSTRIES INC | 1,799.00 | 11.96 | 21,516.04 | 0.50% | S | ||
| CRMD | 21900C308 | CORMEDIX INC | 4,200.00 | 5.12 | 21,504.00 | 0.50% | S | ||
| TARS | 87650L103 | TARSUS PHARMACEUTICALS INC | 1,160.00 | 18.51 | 21,471.60 | 0.50% | S | ||
| AMBC | 023139884 | AMBAC FINANCIAL GROUP INC | 1,498.00 | 14.24 | 21,331.52 | 0.50% | S | ||
| KMPH | 488445206 | KEMPHARM INC | 3,660.00 | 5.81 | 21,264.60 | 0.49% | S | ||
| MRNS | 56854Q200 | MARINUS PHARMACEUTICALS INC | 2,200.00 | 9.65 | 21,230.00 | 0.49% | S | ||
| DHIL | 25264R207 | DIAMOND HILL INVESTMENT GRP | 119 | 178.18 | 21,203.42 | 0.49% | S | ||
| AUGX | 05105P107 | AUGMEDIX INC | 5,000.00 | 4.24 | 21,200.00 | 0.49% | S | ||
| GSIT | 36241U106 | GSI TECHNOLOGY INC | 2,460.00 | 8.55 | 21,033.00 | 0.49% | S | ||
| REFI | 167239102 | CHICAGO ATLANTIC REAL ESTATE | 1,315.00 | 15.9 | 20,908.50 | 0.49% | S | ||
| OLMA | 68062P106 | OLEMA PHARMACEUTICALS INC | 2,660.00 | 7.84 | 20,854.40 | 0.48% | S | ||
| OPY | 683797104 | OPPENHEIMER HOLDINGS-CL A | 520 | 40.05 | 20,826.00 | 0.48% | S | ||
| BCML | 07272M107 | BAYCOM CORP | 1,120.00 | 18.53 | 20,753.60 | 0.48% | S | ||
| OVLY | 671807105 | OAK VALLEY BANCORP | 810 | 25.48 | 20,638.80 | 0.48% | S | ||
| CVGI | 202608105 | COMMERCIAL VEHICLE GROUP INC | 2,100.00 | 9.77 | 20,517.00 | 0.48% | S | ||
| NWPX | 667746101 | NORTHWEST PIPE CO | 660 | 30.79 | 20,321.40 | 0.47% | S | ||
| MCFT | 57637H103 | MASTERCRAFT BOAT HOLDINGS IN | 675 | 29.6 | 19,980.00 | 0.46% | S | ||
| HBIO | 416906105 | HARVARD BIOSCIENCE INC | 3,688.00 | 5.39 | 19,878.32 | 0.46% | S | ||
| TZOO | 89421Q205 | TRAVELZOO | 2,130.00 | 9.29 | 19,787.70 | 0.46% | S | ||
| BY | 124411109 | BYLINE BANCORP INC | 1,037.00 | 19.06 | 19,765.22 | 0.46% | S | ||
| CTO | 22948Q101 | CTO REALTY GROWTH INC | 1,159.00 | 17.02 | 19,726.18 | 0.46% | S | ||
| REX | 761624105 | REX AMERICAN RESOURCES CORP | 580 | 33.82 | 19,615.60 | 0.46% | S | ||
| FUSN | 36118A100 | FUSION PHARMACEUTICALS INC | 4,400.00 | 4.45 | 19,580.00 | 0.45% | FS | ||
| TRST | 898349204 | TRUSTCO BANK CORP NY | 641 | 30.54 | 19,576.14 | 0.45% | S | ||
| RNGR | 75282U104 | RANGER ENERGY SERVICES INC | 1,830.00 | 10.6 | 19,398.00 | 0.45% | S | ||
| LMNR | 532746104 | LIMONEIRA CO | 1,236.00 | 15.58 | 19,256.88 | 0.45% | S | ||
| CETX | 15130G709 | CEMTREX INC | 2,120.00 | 9.06 | 19,207.20 | 0.45% | S | ||
| PESI | 714157203 | PERMA-FIX ENVIRONMENTAL SVCS | 1,743.00 | 10.99 | 19,155.57 | 0.44% | S | ||
| CMPO | 20459V105 | COMPOSECURE INC | 2,729.00 | 7 | 19,103.00 | 0.44% | S | ||
| UWMC | 91823B109 | UWM HOLDINGS CORP | 3,300.00 | 5.72 | 18,876.00 | 0.44% | S | ||
| RRGB | 75689M101 | RED ROBIN GOURMET BURGERS | 1,500.00 | 12.54 | 18,810.00 | 0.44% | S | ||
| MBWM | 587376104 | MERCANTILE BANK CORP | 636 | 29.46 | 18,736.56 | 0.44% | S | ||
| HRTG | 42727J102 | HERITAGE INSURANCE HOLDINGS | 4,470.00 | 4.14 | 18,505.80 | 0.43% | S | ||
| DSKE | 23753F107 | DASEKE INC | 2,550.00 | 7.23 | 18,436.50 | 0.43% | S | ||
| CCAP | 225655109 | CRESCENT CAPITAL BDC INC | 1,266.00 | 14.5 | 18,357.00 | 0.43% | S | ||
| HVT | 419596101 | HAVERTY FURNITURE | 640 | 28.68 | 18,355.20 | 0.43% | S | ||
| WSR | 966084204 | WHITESTONE REIT | 1,845.00 | 9.82 | 18,117.90 | 0.42% | S | ||
| CLW | 18538R103 | CLEARWATER PAPER CORP | 578 | 31.26 | 18,068.28 | 0.42% | S | ||
| CDZI | 127537207 | CADIZ INC | 4,200.00 | 4.3 | 18,060.00 | 0.42% | S | ||
| LINC | 533535100 | LINCOLN EDUCATIONAL SERVICES | 2,710.00 | 6.65 | 18,021.50 | 0.42% | S | ||
| DGICA | 257701201 | DONEGAL GROUP INC-CL A | 1,173.00 | 15.28 | 17,923.44 | 0.42% | S | ||
| OIS | 678026105 | OIL STATES INTERNATIONAL INC | 2,555.00 | 6.96 | 17,782.80 | 0.41% | S | ||
| UNTY | 913290102 | UNITY BANCORP INC | 742 | 23.9 | 17,733.80 | 0.41% | S | ||
| OMER | 682143102 | OMEROS CORP | 2,950.00 | 5.97 | 17,611.50 | 0.41% | S | ||
| MUX | 58039P305 | MCEWEN MINING INC | 2,387.00 | 7.29 | 17,401.23 | 0.40% | S | ||
| INZY | 45790W108 | INOZYME PHARMA INC | 3,100.00 | 5.55 | 17,205.00 | 0.40% | S | ||
| MSBI | 597742105 | MIDLAND STATES BANCORP INC | 808 | 21.29 | 17,202.32 | 0.40% | S | ||
| CRBP | 21833P301 | CORBUS PHARMACEUTICALS HOLDI | 2,300.00 | 7.44 | 17,112.00 | 0.40% | S | ||
| PKBK | 700885106 | PARKE BANCORP INC | 963 | 17.72 | 17,064.36 | 0.40% | S | ||
| VOXX | 91829F104 | VOXX INTERNATIONAL CORP | 1,451.00 | 11.65 | 16,904.15 | 0.39% | S | ||
| ITIC | 461804106 | INVESTORS TITLE CO | 120 | 137 | 16,440.00 | 0.38% | S | ||
| SRI | 86183P102 | STONERIDGE INC | 901 | 17.77 | 16,010.77 | 0.37% | S | ||
| AMPY | 03212B103 | AMPLIFY ENERGY CORP | 2,340.00 | 6.71 | 15,701.40 | 0.36% | S | ||
| CPSI | 205306103 | COMPUTER PROGRAMS & SYSTEMS | 606 | 24.81 | 15,034.86 | 0.35% | S | ||
| RGP | 76122Q105 | RESOURCES CONNECTION INC | 930 | 16.01 | 14,889.30 | 0.35% | S | ||
| 452CVR012 | IMARA INC CVR | 5,500.00 | S | ||||||
| X9USDISLQ | INVESCO GOVT AGENCY INSTL 1901 | 93,469.49 | 1 | 93,469.49 | 2.17% | MM | |||
| CASH | -70,235.42 | 100 | -70,235.42 | -1.63% | CA |
FUND
Characteristics
As of 5/31/2023
DWMC Sector Allocation
FUND
Documents
FUND
Fees & Expenses
| Management Fee | 0.75% |
| Other Expenses | 1.20% |
| Fee Waiver and/or Expense Reimbursement* | -0.70% |
| Total Annual Operating Expenses | 1.25% |
*The Advisor has contractually agreed to keep net expenses from exceeding 1.25% of the Fund’s average daily net assets for at least one year from the date of the prospectus. 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.
- The Fund is subject to a number of risks that may affect the value of its shares, including the possible loss of principal. Stock prices of micro- and small-cap companies are significantly more volatile, and more vulnerable to adverse business and economic developments, than those of larger companies. Micro- and small-cap stocks may also be thinly traded, making it difficult for the Fund to buy and sell them. There is no guarantee that the Fund will achieve its investment objective.
- Additionally Micro-cap companies are followed by relatively few securities analysts and there tends to be less publicly-available information about them. Micro-capitalization companies may have limited operational histories and new or unproven product lines or may have product lines that are still in development.
- 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.
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