(DWMC) DORSEY WRIGHT MICRO-CAP ETF
NAV as of 6/7/2023
$32.32
1 Day NAV Change as of 6/7/2023
$0.51
DWMC
Overview
Micro-cap equities, the smallest companies in the marketplace, possess substantial upside potential but can remain subject to several investing inefficiencies – including lack of public research, trading illiquidity, and volatility – which can necessitate the need for an experienced portfolio manager when investing in this compelling area of the equity market. The AdvisorShares Dorsey Wright Micro-Cap ETF (Ticker: DWMC) is an actively managed ETF that seeks long-term capital appreciation by investing in exchange-listed, micro-cap equities with sufficient liquidity that generally have a market capitalization of less than $1 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 Micro-Cap Exposure – Research on micro-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 historically successful 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. The micro-cap universe has historically delivered superior 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 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 micro-cap 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 micro-cap stocks for inclusion and removal from its highly selective, active portfolio.
<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 Micro-Caps – DWMC holds a portfolio of approximately 150 exchange-listed, micro-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-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
6/7/2023| NAV | $32.32 |
| Change | $0.51 |
| Shares Outstanding | 135,000 |
| Assets Under Management | $4,362,849.13 |
Market Data
6/7/2023| Closing Price | $32.24 |
| Close Change | $0.5 |
| Volume | 219 |
Regulatory Data
6/7/2023| Premium Discount | $0.01 |
| 30-Day Median bid-ask Spread | 0.007694 |
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.
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 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| 06/07/2023 | DWMC | BELFB | 077347300 | BEL FUSE INC-CL B | 1,442.00 | 56.36 | 81,271.12 | 1.86% | S |
| PBT | 714236106 | PERMIAN BASIN ROYALTY TRUST | 3,157.00 | 24.49 | 77,314.93 | 1.77% | S | ||
| SPLP | 85814R107 | STEEL PARTNERS HOLDINGS LP | 1,714.00 | 43.54 | 74,627.56 | 1.71% | S | ||
| VRTV | 923454102 | VERITIV CORP | 521 | 119.81 | 62,421.01 | 1.43% | S | ||
| MOD | 607828100 | MODINE MANUFACTURING CO | 1,718.00 | 32.56 | 55,938.08 | 1.28% | S | ||
| PLPC | 740444104 | PREFORMED LINE PRODUCTS CO | 336 | 163.74 | 55,016.64 | 1.26% | S | ||
| ETNB | 282559103 | 89BIO INC | 2,609.00 | 20.16 | 52,597.44 | 1.21% | S | ||
| CBAY | 23257D103 | CYMABAY THERAPEUTICS INC | 5,547.00 | 9.42 | 52,252.74 | 1.20% | S | ||
| UFPT | 902673102 | UFP TECHNOLOGIES INC | 305 | 167.98 | 51,233.90 | 1.17% | S | ||
| MYRG | 55405W104 | MYR GROUP INC/DELAWARE | 363 | 139.81 | 50,751.03 | 1.16% | S | ||
| STRL | 859241101 | STERLING INFRASTRUCTURE INC | 931 | 53.36 | 49,678.16 | 1.14% | S | ||
| DFIN | 25787G100 | DONNELLEY FINANCIAL SOLUTION | 1,071.00 | 46.29 | 49,576.59 | 1.14% | S | ||
| HROW | 415858109 | HARROW HEALTH INC | 2,339.00 | 20.98 | 49,072.22 | 1.12% | S | ||
| AMR | 020764106 | ALPHA METALLURGICAL RESOURCE | 291 | 153.94 | 44,796.54 | 1.03% | S | ||
| TRNS | 893529107 | TRANSCAT INC | 464 | 92.97 | 43,138.08 | 0.99% | S | ||
| GDEN | 381013101 | GOLDEN ENTERTAINMENT INC | 945 | 45.56 | 43,054.20 | 0.99% | S | ||
| ASC | Y0207T100 | ARDMORE SHIPPING CORP | 3,521.00 | 12.18 | 42,885.78 | 0.98% | FS | ||
| LMB | 53263P105 | LIMBACH HOLDINGS INC | 1,799.00 | 23.5 | 42,276.50 | 0.97% | S | ||
| TGH | G8766E109 | TEXTAINER GROUP HOLDINGS LTD | 1,060.00 | 39.23 | 41,583.80 | 0.95% | FS | ||
| CIR | 17273K109 | CIRCOR INTERNATIONAL INC | 837 | 47.66 | 39,891.42 | 0.91% | S | ||
| DO | 25271C201 | DIAMOND OFFSHORE DRILLING IN | 3,231.00 | 12.12 | 39,159.72 | 0.90% | S | ||
| DGII | 253798102 | DIGI INTERNATIONAL INC | 1,035.00 | 37.31 | 38,615.85 | 0.89% | S | ||
| NRP | 63900P608 | NATURAL RESOURCE PARTNERS LP | 794 | 48.54 | 38,540.76 | 0.88% | S | ||
| CECO | 125141101 | CECO ENVIRONMENTAL CORP | 2,906.00 | 13.17 | 38,272.02 | 0.88% | S | ||
| ALDX | 01438T106 | ALDEYRA THERAPEUTICS INC | 3,223.00 | 11.48 | 37,000.04 | 0.85% | S | ||
| LPG | Y2106R110 | DORIAN LPG LTD | 1,546.00 | 23.55 | 36,408.30 | 0.83% | FS | ||
| CVLG | 22284P105 | COVENANT LOGISTICS GROUP INC | 866 | 41.21 | 35,687.86 | 0.82% | S | ||
| ESQ | 29667J101 | ESQUIRE FINANCIAL HOLDINGS I | 782 | 45.07 | 35,244.74 | 0.81% | S | ||
| POWL | 739128106 | POWELL INDUSTRIES INC | 557 | 62.95 | 35,063.15 | 0.80% | S | ||
| TIPT | 88822Q103 | TIPTREE INC | 2,419.00 | 14.27 | 34,519.13 | 0.79% | S | ||
| GNE | 372284208 | GENIE ENERGY LTD-B | 2,335.00 | 14.21 | 33,180.35 | 0.76% | S | ||
| HLX | 42330P107 | HELIX ENERGY SOLUTIONS GROUP | 4,540.00 | 7.28 | 33,051.20 | 0.76% | S | ||
| HQI | 433535101 | HIREQUEST INC | 1,218.00 | 26.54 | 32,325.72 | 0.74% | S | ||
| TNK | Y8565N300 | TEEKAY TANKERS LTD-CLASS A | 877 | 36.74 | 32,220.98 | 0.74% | FS | ||
| SCPH | 810648105 | SCPHARMACEUTICALS INC | 2,970.00 | 10.7 | 31,779.00 | 0.73% | S | ||
| VYGR | 92915B106 | VOYAGER THERAPEUTICS INC | 2,521.00 | 12.59 | 31,739.39 | 0.73% | S | ||
| NBN | 66405S100 | NORTHEAST BANK | 750 | 41.68 | 31,260.00 | 0.72% | S | ||
| HAYN | 420877201 | HAYNES INTERNATIONAL INC | 605 | 50.27 | 30,413.35 | 0.70% | S | ||
| THR | 88362T103 | THERMON GROUP HOLDINGS INC | 1,199.00 | 25.33 | 30,370.67 | 0.70% | S | ||
| NVEC | 629445206 | NVE CORP | 315 | 95.02 | 29,931.30 | 0.69% | S | ||
| BH | 08986R309 | BIGLARI HOLDINGS INC-B | 147 | 202.53 | 29,771.91 | 0.68% | S | ||
| TK | Y8564W103 | TEEKAY CORP | 5,086.00 | 5.81 | 29,549.66 | 0.68% | FS | ||
| GLP | 37946R109 | GLOBAL PARTNERS LP | 929 | 31.68 | 29,430.72 | 0.67% | S | ||
| EZPW | 302301106 | EZCORP INC-CL A | 3,360.00 | 8.71 | 29,265.60 | 0.67% | S | ||
| NATH | 632347100 | NATHAN'S FAMOUS INC | 359 | 80.83 | 29,017.97 | 0.67% | S | ||
| HOV | 442487401 | HOVNANIAN ENTERPRISES-A | 320 | 90.24 | 28,876.80 | 0.66% | S | ||
| CHUY | 171604101 | CHUY'S HOLDINGS INC | 665 | 43.02 | 28,608.30 | 0.66% | S | ||
| INOD | 457642205 | INNODATA INC | 2,590.00 | 11.04 | 28,593.60 | 0.66% | S | ||
| CRAI | 12618T105 | CRA INTERNATIONAL INC | 285 | 99.88 | 28,465.80 | 0.65% | S | ||
| KE | 49428J109 | KIMBALL ELECTRONICS INC | 1,065.00 | 26.51 | 28,233.15 | 0.65% | S | ||
| HCCI | 42726M106 | HERITAGE-CRYSTAL CLEAN INC | 767 | 36.75 | 28,187.25 | 0.65% | S | ||
| INSE | 45782N108 | INSPIRED ENTERTAINMENT INC | 1,799.00 | 15.66 | 28,172.34 | 0.65% | S | ||
| MLTX | 61559X104 | MOONLAKE IMMUNOTHERAPEUTICS | 1,000.00 | 28.15 | 28,150.00 | 0.65% | FS | ||
| XPOF | 98422X101 | XPONENTIAL FITNESS INC-A | 1,080.00 | 26.06 | 28,144.80 | 0.65% | S | ||
| ELVN | 29337E102 | ENLIVEN THERAPEUTICS INC | 1,237.00 | 22.75 | 28,141.75 | 0.64% | S | ||
| TNP | G9108L173 | TSAKOS ENERGY NAVIGATION LTD | 1,552.00 | 17.73 | 27,516.96 | 0.63% | FS | ||
| ASUR | 04649U102 | ASURE SOFTWARE INC | 2,143.00 | 12.77 | 27,366.11 | 0.63% | S | ||
| ATRO | 046433108 | ASTRONICS CORP | 1,529.00 | 17.87 | 27,323.23 | 0.63% | S | ||
| ZEUS | 68162K106 | OLYMPIC STEEL INC | 557 | 48.45 | 26,986.65 | 0.62% | S | ||
| CPLP | Y11082206 | CAPITAL PRODUCT PARTNERS LP | 1,927.00 | 13.97 | 26,920.19 | 0.62% | FS | ||
| SBR | 785688102 | SABINE ROYALTY TRUST | 390 | 68.99 | 26,906.10 | 0.62% | S | ||
| KRP | 49435R102 | KIMBELL ROYALTY PARTNERS LP | 1,767.00 | 15.05 | 26,593.35 | 0.61% | S | ||
| TCMD | 87357P100 | TACTILE SYSTEMS TECHNOLOGY I | 1,100.00 | 24.14 | 26,554.00 | 0.61% | S | ||
| JILL | 46620W201 | J. JILL INC | 1,153.00 | 22.96 | 26,472.88 | 0.61% | S | ||
| ALTG | 02128L106 | ALTA EQUIPMENT GROUP INC | 1,667.00 | 15.8 | 26,338.60 | 0.60% | S | ||
| DAKT | 234264109 | DAKTRONICS INC | 3,790.00 | 6.84 | 25,923.60 | 0.59% | S | ||
| LQDA | 53635D202 | LIQUIDIA CORP | 3,050.00 | 8.49 | 25,879.25 | 0.59% | S | ||
| TAST | 14574X104 | CARROLS RESTAURANT GROUP INC | 4,500.00 | 5.71 | 25,695.00 | 0.59% | S | ||
| BBSI | 068463108 | BARRETT BUSINESS SVCS INC | 280 | 91.6 | 25,648.00 | 0.59% | S | ||
| GLRE | G4095J109 | GREENLIGHT CAPITAL RE LTD-A | 2,522.00 | 9.99 | 25,194.78 | 0.58% | FS | ||
| SGU | 85512C105 | STAR GROUP LP | 1,711.00 | 14.58 | 24,946.38 | 0.57% | S | ||
| PESI | 714157203 | PERMA-FIX ENVIRONMENTAL SVCS | 2,140.00 | 11.4 | 24,396.00 | 0.56% | S | ||
| HWKN | 420261109 | HAWKINS INC | 470 | 51.71 | 24,303.70 | 0.56% | S | ||
| BWMN | 103002101 | BOWMAN CONSULTING GROUP LTD | 837 | 28.96 | 24,239.52 | 0.56% | S | ||
| CAL | 129500104 | CALERES INC | 1,065.00 | 22.73 | 24,207.45 | 0.55% | S | ||
| HCKT | 404609109 | HACKETT GROUP INC/THE | 1,172.00 | 20.53 | 24,061.16 | 0.55% | S | ||
| IMMR | 452521107 | IMMERSION CORPORATION | 3,061.00 | 7.83 | 23,967.63 | 0.55% | S | ||
| SAMG | 828359109 | SILVERCREST ASSET MANAGEME-A | 1,146.00 | 20.82 | 23,859.72 | 0.55% | S | ||
| ETD | 297602104 | ETHAN ALLEN INTERIORS INC | 830 | 28.69 | 23,812.70 | 0.55% | S | ||
| OCUL | 67576A100 | OCULAR THERAPEUTIX INC | 3,200.00 | 7.41 | 23,712.00 | 0.54% | S | ||
| GTX | 366505105 | GARRETT MOTION INC | 2,868.00 | 8.22 | 23,574.96 | 0.54% | S | ||
| PANL | G6891L105 | PANGAEA LOGISTICS SOLUTIONS | 3,780.00 | 6.2 | 23,436.00 | 0.54% | FS | ||
| CARE | 146103106 | CARTER BANKSHARES INC | 1,444.00 | 16.09 | 23,233.96 | 0.53% | S | ||
| FSBW | 30263Y104 | FS BANCORP INC | 737 | 31.48 | 23,200.76 | 0.53% | S | ||
| UIHC | 910710102 | UNITED INSURANCE HOLDINGS CO | 4,400.00 | 5.27 | 23,188.00 | 0.53% | S | ||
| CCBG | 139674105 | CAPITAL CITY BANK GROUP INC | 684 | 33.75 | 23,085.00 | 0.53% | S | ||
| AMOT | 019330109 | ALLIED MOTION TECHNOLOGIES | 594 | 38.58 | 22,916.52 | 0.53% | S | ||
| NVCT | 67080T108 | NUVECTIS PHARMA INC | 1,300.00 | 17.58 | 22,854.00 | 0.52% | S | ||
| FUSN | 36118A100 | FUSION PHARMACEUTICALS INC | 4,400.00 | 5.19 | 22,836.00 | 0.52% | FS | ||
| VPG | 92835K103 | VISHAY PRECISION GROUP | 621 | 36.75 | 22,821.75 | 0.52% | S | ||
| PBPB | 73754Y100 | POTBELLY CORP | 2,609.00 | 8.72 | 22,750.48 | 0.52% | S | ||
| YORW | 987184108 | YORK WATER CO | 505 | 44.99 | 22,719.95 | 0.52% | S | ||
| BRT | 055645303 | BRT APARTMENTS CORP | 1,120.00 | 20.16 | 22,579.20 | 0.52% | S | ||
| CTLP | 138103106 | CANTALOUPE INC | 3,100.00 | 7.26 | 22,506.00 | 0.52% | S | ||
| DXPE | 233377407 | DXP ENTERPRISES INC | 660 | 34.06 | 22,479.60 | 0.52% | S | ||
| FC | 353469109 | FRANKLIN COVEY CO | 607 | 37 | 22,459.00 | 0.51% | S | ||
| RUTH | 783332109 | RUTH'S HOSPITALITY GROUP INC | 1,044.00 | 21.47 | 22,414.68 | 0.51% | S | ||
| PKE | 70014A104 | PARK AEROSPACE CORP | 1,606.00 | 13.95 | 22,403.70 | 0.51% | S | ||
| MACK | 590328209 | MERRIMACK PHARMACEUTICALS IN | 1,799.00 | 12.45 | 22,397.55 | 0.51% | S | ||
| GPP | 393221106 | GREEN PLAINS PARTNERS LP | 1,736.00 | 12.87 | 22,333.64 | 0.51% | S | ||
| LYTS | 50216C108 | LSI INDUSTRIES INC | 1,799.00 | 12.39 | 22,289.61 | 0.51% | S | ||
| AVNW | 05366Y201 | AVIAT NETWORKS INC | 675 | 32.47 | 21,917.25 | 0.50% | S | ||
| CETX | 15130G709 | CEMTREX INC | 2,120.00 | 10.27 | 21,772.40 | 0.50% | S | ||
| SXC | 86722A103 | SUNCOKE ENERGY INC | 2,793.00 | 7.76 | 21,673.68 | 0.50% | S | ||
| AMBC | 023139884 | AMBAC FINANCIAL GROUP INC | 1,498.00 | 14.35 | 21,496.30 | 0.49% | S | ||
| CDZI | 127537207 | CADIZ INC | 4,200.00 | 5.06 | 21,252.00 | 0.49% | S | ||
| MOV | 624580106 | MOVADO GROUP INC | 758 | 27.89 | 21,140.62 | 0.48% | S | ||
| OPY | 683797104 | OPPENHEIMER HOLDINGS-CL A | 520 | 40.51 | 21,065.20 | 0.48% | S | ||
| DHIL | 25264R207 | DIAMOND HILL INVESTMENT GRP | 119 | 176.37 | 20,988.03 | 0.48% | S | ||
| ITRN | M6158M104 | ITURAN LOCATION AND CONTROL | 863 | 24.3 | 20,970.90 | 0.48% | FS | ||
| NECB | 664121100 | NORTHEAST COMMUNITY BANCORP | 1,464.00 | 14.15 | 20,715.60 | 0.47% | S | ||
| BLBD | 095306106 | BLUE BIRD CORP | 989 | 20.93 | 20,699.77 | 0.47% | S | ||
| LINC | 533535100 | LINCOLN EDUCATIONAL SERVICES | 3,062.00 | 6.74 | 20,637.88 | 0.47% | S | ||
| CVGI | 202608105 | COMMERCIAL VEHICLE GROUP INC | 2,100.00 | 9.8 | 20,580.00 | 0.47% | S | ||
| BY | 124411109 | BYLINE BANCORP INC | 1,037.00 | 19.81 | 20,542.97 | 0.47% | S | ||
| REX | 761624105 | REX AMERICAN RESOURCES CORP | 580 | 35.11 | 20,363.80 | 0.47% | S | ||
| MCFT | 57637H103 | MASTERCRAFT BOAT HOLDINGS IN | 675 | 30.13 | 20,337.75 | 0.47% | S | ||
| BCML | 07272M107 | BAYCOM CORP | 1,120.00 | 17.92 | 20,070.40 | 0.46% | S | ||
| SENEA | 817070501 | SENECA FOODS CORP - CL A | 405 | 49.54 | 20,063.70 | 0.46% | S | ||
| AMPY | 03212B103 | AMPLIFY ENERGY CORP | 2,700.00 | 7.43 | 20,061.00 | 0.46% | S | ||
| REFI | 167239102 | CHICAGO ATLANTIC REAL ESTATE | 1,315.00 | 15.24 | 20,040.60 | 0.46% | S | ||
| RRGB | 75689M101 | RED ROBIN GOURMET BURGERS | 1,500.00 | 13.3 | 19,950.00 | 0.46% | S | ||
| CTO | 22948Q101 | CTO REALTY GROWTH INC | 1,159.00 | 17.19 | 19,923.21 | 0.46% | S | ||
| TRST | 898349204 | TRUSTCO BANK CORP NY | 641 | 31.08 | 19,922.28 | 0.46% | S | ||
| MBWM | 587376104 | MERCANTILE BANK CORP | 636 | 31.27 | 19,887.72 | 0.46% | S | ||
| CMPO | 20459V105 | COMPOSECURE INC | 2,729.00 | 7.25 | 19,785.25 | 0.45% | S | ||
| OVLY | 671807105 | OAK VALLEY BANCORP | 810 | 24.32 | 19,699.20 | 0.45% | S | ||
| NWPX | 667746101 | NORTHWEST PIPE CO | 660 | 29.59 | 19,529.40 | 0.45% | S | ||
| RCEL | 05380C102 | AVITA MEDICAL INC | 1,320.00 | 14.72 | 19,430.40 | 0.45% | S | ||
| ODC | 677864100 | OIL-DRI CORP OF AMERICA | 480 | 39.27 | 18,849.60 | 0.43% | S | ||
| CLW | 18538R103 | CLEARWATER PAPER CORP | 578 | 32.49 | 18,779.22 | 0.43% | S | ||
| MDWD | M68830112 | MEDIWOUND LTD | 1,934.00 | 9.71 | 18,779.14 | 0.43% | FS | ||
| LMNR | 532746104 | LIMONEIRA CO | 1,236.00 | 15.17 | 18,750.12 | 0.43% | S | ||
| HVT | 419596101 | HAVERTY FURNITURE | 640 | 29.27 | 18,732.80 | 0.43% | S | ||
| OIS | 678026105 | OIL STATES INTERNATIONAL INC | 2,555.00 | 7.31 | 18,677.05 | 0.43% | S | ||
| INZY | 45790W108 | INOZYME PHARMA INC | 3,100.00 | 5.97 | 18,507.00 | 0.42% | S | ||
| MUX | 58039P305 | MCEWEN MINING INC | 2,387.00 | 7.69 | 18,356.03 | 0.42% | S | ||
| DGICA | 257701201 | DONEGAL GROUP INC-CL A | 1,173.00 | 15.58 | 18,275.34 | 0.42% | S | ||
| DSKE | 23753F107 | DASEKE INC | 2,550.00 | 7.12 | 18,156.00 | 0.42% | S | ||
| MSBI | 597742105 | MIDLAND STATES BANCORP INC | 808 | 22.45 | 18,139.60 | 0.42% | S | ||
| UNTY | 913290102 | UNITY BANCORP INC | 742 | 24.33 | 18,052.86 | 0.41% | S | ||
| MRNS | 56854Q200 | MARINUS PHARMACEUTICALS INC | 2,200.00 | 8.14 | 17,908.00 | 0.41% | S | ||
| UWMC | 91823B109 | UWM HOLDINGS CORP | 3,300.00 | 5.41 | 17,853.00 | 0.41% | S | ||
| CCAP | 225655109 | CRESCENT CAPITAL BDC INC | 1,266.00 | 13.99 | 17,711.34 | 0.41% | S | ||
| WSR | 966084204 | WHITESTONE REIT | 1,845.00 | 9.56 | 17,638.20 | 0.40% | S | ||
| PKBK | 700885106 | PARKE BANCORP INC | 963 | 17.79 | 17,131.77 | 0.39% | S | ||
| SRI | 86183P102 | STONERIDGE INC | 901 | 18.57 | 16,731.57 | 0.38% | S | ||
| VOXX | 91829F104 | VOXX INTERNATIONAL CORP | 1,451.00 | 11.45 | 16,613.95 | 0.38% | S | ||
| OBIO | 68572M106 | ORCHESTRA BIOMED HOLDINGS IN | 1,150.00 | 14.42 | 16,583.00 | 0.38% | S | ||
| ITIC | 461804106 | INVESTORS TITLE CO | 120 | 137.98 | 16,557.60 | 0.38% | S | ||
| RGP | 76122Q105 | RESOURCES CONNECTION INC | 930 | 17.2 | 15,996.00 | 0.37% | S | ||
| GATO | 368036109 | GATOS SILVER INC | 3,550.00 | 4.5 | 15,975.00 | 0.37% | S | ||
| CPSI | 205306103 | COMPUTER PROGRAMS & SYSTEMS | 606 | 25.48 | 15,440.88 | 0.35% | S | ||
| XPON | 30218B100 | EXPION360 INC | 3,570.00 | 4.21 | 15,029.70 | 0.34% | S | ||
| ACHV | 004468500 | ACHIEVE LIFE SCIENCES INC | 2,360.00 | 6 | 14,160.00 | 0.32% | S | ||
| CVV | 126601103 | CVD EQUIPMENT CORP | 1,716.00 | 8.02 | 13,762.32 | 0.32% | S | ||
| EYEN | 30234E104 | EYENOVIA INC | 4,619.00 | 2.84 | 13,117.96 | 0.30% | S | ||
| 452CVR012 | IMARA INC CVR | 5,500.00 | S | ||||||
| X9USDISLQ | INVESCO GOVT AGENCY INSTL 1901 | 77,528.08 | 1 | 77,528.08 | 1.78% | MM | |||
| CASH | -61,082.31 | 100 | -61,082.31 | -1.40% | 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-cap companies are significantly more volatile, and more vulnerable to adverse business and economic developments, than those of larger companies. Micro-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.
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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.