(FLRT) PACIFIC ASSET ENHANCED FLOATING RATE ETF

FLRT

Overview

The AdvisorShares Pacific Asset Enhanced Floating Rate ETF (NYSE Arca: FLRT) seeks to provide a high level of current income. FLRT is managed by Pacific Asset Management (“Portfolio Manager”). The Portfolio Manager seeks to achieve FLRT’s investment objective by selecting a focused portfolio comprised primarily of income producing floating rate loans and floating rate debt securities (commonly referred to as bank loans, leveraged loans or floating rate loans), which consist of senior secured and unsecured floating rate loans, secured second lien floating rate loans, and other floating rate debt securities of domestic and foreign issuers.

Symbol Exchange Inception Date CUSIP Indicative Value
FLRT NYSE Arca 2/18/2016 00768Y594 FLRT.IV
<strong>Why Invest in FLRT?</strong>
  • For a Dedicated Yield Focus – Unlike its peers, FLRT offers a dedicated floating rate portfolio focused on yield, approached with a focus on the larger, rated issuers within the loan universe. The Portfolio Manager believes that this process provides a margin of safety and downside risk protection relative to the smaller, non-rated companies.
  • For Opportunistic Leverage –In a bid to enhance potential yield and total return, FLRT has the flexibility to invest 80 -130% of its assets based on the Portfolio Manager’s analysis of market conditions.
  • For a Disciplined Investment Process – The Portfolio Manager believes that a disciplined portfolio decision-making process that focuses on credit fundamentals for individual security selection will lead to outstanding long-term performance versus FLRT’s peers and its benchmark. They further believe that the focus should be on the fundamentals of the businesses in which FLRT invests.
<strong>Where Can FLRT Fit in a Traditional Portfolio?</strong>

FLRT may serve as a yield enhancing, complement to core fixed income positions. Floating rate funds often offer yields that are competitive with the high yield segment but with the added opportunity of potential protection against rising rates.

This is possible due to the nature of the floating rate market which is that the interest rate is adjusted on a regular schedule to attract investor demand. If interest rates in the broad market head higher then the interest rates charged to the borrower will be adjusted higher as well with a modest time lag.

<strong>Key Attributes</strong>
  1. Floating Rate Strategy – FLRT offers investors a focused portfolio comprised of income producing floating rate loans and floating rate debt securities which aims to provide a high level of current income.
  2. Liquid – The Portfolio Manager’s active management approach favors names that make up the most liquid segment of the bank loan marketplace. This allows for more fluid entry and exit of positions as needed.
  3. Focus on Corporate Credit – The Portfolio Manager covers the entire credit spectrum ‘AAA’ to ‘C’, which gives them a unique perspective on relative value and may offer investors favorable risk/reward opportunities.
  4. Limited Asset Class Correlation – With unique structural characteristics, bank loans have limited correlations to most major asset classes, providing portfolio diversification across various fixed income and equity asset classes.
  5. Experienced Bank Loan Investment Team – The Portfolio Manager has focused on bank loans since the firm’s founding. FLRT’s investment professionals possess an average of 14 years of investment experience.
<strong>About the Portfolio Managers</strong>

Bob Boyd, Managing Director Pacific Asset Management
Bob serves as a Portfolio Manager and Credit Analyst for the firm. He joined Pacific Asset Management in 2012. Previously, Bob was with Pacific Investment Management (PIMCO) for 14 years, where he was a Vice President, Bank Loan Portfolio Manager, and Credit Analyst. Bob has over 17 years of investment experience focused on leveraged finance, credit analysis, and structured products. He holds a bachelor’s degree from California State University, Long Beach and an MBA from the University of Southern California.

Michael Marzouk, CFA, Portfolio Manager and ETF Investment Committee Member
Mr. Marzouk is a Managing Director for the Sub-Advisor and a member of the Sub-Advisor’s ETF Investment Committee. Mr. Marzouk serves as a Portfolio Manager and Credit Analyst for the firm. He joined the Sub-Advisor in 2007. Mr. Marzouk has over 17 years of investment experience focused on leveraged finance and credit research. Mr. Marzouk has a bachelor’s degree from the University of California, Los Angeles and an MBA from the Anderson School of Management.

Fund

Price History

As of 9/20/2019

NAV $49.04 Closing Price $49.01
Change $0.02 Close Change $0.06
Shares Outstanding 600,000.00 Volume 100
4PM Bid/Offer Midpoint $49.01 Premium Discount $-0.03
Assets Under Management $29,426,501.95

Premium/Discount Historical Data | 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. 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

Performance

As of 8/31/2019

  NAV Market Price Return S&P/LSTA U.S. Leveraged Loan 100 Index
1 Month 0.11 0.11 -0.43
3 Months 1.39 1.40 0.89
YTD 7.10 6.93 7.52
1 Year 3.64 3.62 3.54
3 Years 3.40 3.53 4.30
Since Inception (2/18/2015, Annualized) 3.15 3.13 3.61

As of 6/30/2019

  NAV Market Price Return S&P/LSTA U.S. Leveraged Loan 100 Index
1 Month 0.47 0.55 0.23
3 Months 1.62 1.63 1.55
YTD 6.13 6.04 6.81
1 Year 4.09 3.82 4.18
3 Years 3.74 4.07 4.88
Since Inception (2/18/2015, Annualized) 3.06 3.06 3.60

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.

Top Ten

Holdings

As of 9/20/2019

Date Account Symbol Security Number Security Description Shares/Par (Full) Price (Base) Traded Market Value (Base) Portfolio Weight % Asset Group
09/20/2019 FLRT LX178432 00005 Dun and Bradsteet 02/06/26 Term Loan 500,000 100.75 503,750.00 1.71% TL
FLRT LX174544 00005 FINANCIAL & RISK 10/01/25 TERM LOAN 500,000 100.68 503,412.50 1.71% TL
FLRT LX170173 00005 CHARTER COMMUNICATIONS TLB 04/30/25 TERM LOAN 500,000 100.68 503,375.00 1.71% TL
FLRT LX171370 00005 BERRY GLOBAL, INC 10/03/22 TERM LOAN 500,000 100.57 502,860.00 1.71% TL
FLRT LX169475 00005 INTELSAT B3 11/27/23 TERM LOAN 500,000 100.52 502,587.50 1.71% TL
FLRT LX160334 00005 Level 3 Financing Inc 02/22/24 Term Loan 500,000 100.41 502,062.50 1.71% TL
FLRT LX166414 00005 ZAYO GROUP TLB-2 01/19/24 Term Loan 500,000 100.28 501,395.00 1.70% TL
FLRT LX173477 00005 GFL ENVIRONMENTAL TLB L+275 05/30/25 TERM LOAN 500,000 99.81 499,062.50 1.70% TL
FLRT LX159275 00005 Telesat Canada 2/17 Cov-Lite Term Loan 496,231 100.52 498,836.37 1.70% TL
FLRT LX171118 00005 NVA Holdings, Inc. 02/02/25 Term Loan 498,744 100.01 498,796.09 1.69% TL
FLRT LX172432 00005 PPDI (Jaguar Holding) 08/18/22 Term Loan 497,409 100.22 498,481.24 1.69% TL
FLRT LX171926 00005 HCA 3/18 B10 03/13/25 Term Loan 494,987 100.62 498,046.50 1.69% TL
FLRT LX161695 00005 CABLEVISION TLB L+225 07/17/2025 496,193 100.18 497,073.62 1.69% TL
FLRT LX163804 00005 Kronos Incorporated 11/01/23 Term Loan 493,875 100.33 495,505.12 1.68% TL
FLRT LX171161 00005 Formula One 02/01/24 Term Loan 500,000 99.06 495,312.50 1.68% TL
FLRT LX155959 00005 QUIKRETE TLB L+325 11/15/23 TERM LOAN 491,593 99.81 490,670.84 1.67% TL
FLRT LX168784 00001 CAESERS RESORTS 12/23/2024 Term Loan 492,500 99.45 489,806.03 1.66% TL
FLRT LX174055 00005 Uber Technologies, Inc. 07/13/23 Term Loan 486,250 99.97 486,121.14 1.65% TL
FLRT LX153134 00001 US FOODS TLB L+325 06/27/2023 TERM LOAN 478,845 100.53 481,390.18 1.64% TL
FLRT LX172192 00006 Husky IMS 3/18 Cov-Lite Term Loan 496,231 96.66 479,637.19 1.63% TL
FLRT LX156196 00005 BASS PRO TLB L+500 09/25/2024 TERM LOAN 496,225 96.42 478,469.86 1.63% TL
FLRT LX173655 00005 GYP HOLDINGS III 06/0125 TERM LOAN 477,814 99.28 474,350.03 1.61% TL
FLRT LX165477 00005 Spin Holdco Inc 11/14/22 Term Loan 479,575 98.67 473,182.42 1.61% TL
FLRT LX181074 00005 HILTON WORLDWIDE FINANCE 06/22/26 TERM LOAN 461,991 100.69 465,167.15 1.58% TL
FLRT LX179960 00005 PetSmart, Inc 03/11/22 Term Loan 478,750 95.92 459,200.24 1.56% TL
FLRT LX182347 00005 APEX TOOL GROUP, LLC 08/01/24 Term Loan 460,220 98.18 451,836.62 1.54% TL
FLRT LX173606 00005 VALEANT PHARMACE 06/02/25 TERM LOAN 437,728 100.55 440,143.90 1.50% TL
FLRT LX167985 00005 CLUBCORP TLB 09/18/24 TERM LOAN 489,634 89.65 438,934.88 1.49% TL
FLRT LX173457 00005 TRANSDIGM GROUP TLF 06/09/23 Term Loan 427,010 99.99 426,986.25 1.45% TL
FLRT LX159959 00001 INFOR G 02/01/22 Term Loan 423,638 100.31 424,962.04 1.44% TL
FLRT LX175815 00005 AKZ0 NOBLE TLB 10/01/25 TERM LOAN 417,554 98.65 411,897.79 1.40% TL
FLRT LX171269 00005 Scientific Games 2/18 B5 Term Loan 398,675 99.29 395,860.38 1.35% TL
FLRT LX167989 00001 U.S.I. 8/17 Incremental 05/16/24 Term Loan 393,000 98.82 388,374.39 1.32% TL
FLRT LX178165 00005 DAE AVIATION 04/06/26 1/ TERM LOAN 325,175 100.67 327,351.88 1.11% TL
FLRT LX173578 00005 Western Digital 05/01/2023 323,269 99.83 322,730.55 1.10% TL
FLRT LX173458 00005 Avolon 5/18 Term Loan 317,025 100.50 318,610.19 1.08% TL
FLRT LX169609 00001 Univar USA Inc 07/01/24 Term Loan 308,599 100.46 310,013.67 1.05% TL
FLRT LX171023 00005 CINEWORLD 2/18 (USD) Cov-Lite 02/28/25 Term Loan 308,282 99.35 306,278.59 1.04% TL
FLRT LX159002 00001 Prestige Brands, Inc 01/26/24 Term Loan 295,232 100.41 296,449.94 1.01% TL
FLRT LX169689 00001 Gates Global LLC 04/01/24 Term Loan 293,956 98.77 290,332.53 0.99% TL
FLRT 02005NBF6 ALLY FINANCIAL INC 5.75 11/20/2025 250,000 113.13 282,812.50 0.96% B
FLRT 472141AA8 JBS USA LUX/JBS USA FIN 6.75 2/15/2028 250,000 111.13 277,812.50 0.94% B
FLRT LX159202 00002 Reynold 02/06/23 Term Loan 274,703 100.41 275,837.49 0.94% TL
FLRT 81725WAH6 SENSATA TECHNOLOGIES BV 5.625 11/1/2024 250,000 109.50 273,755.00 0.93% B
FLRT 852061AS9 SPRINT COMMUNICATIONS 6 11/15/2022 250,000 106.70 266,738.51 0.91% B
FLRT 64072TAC9 CSC HOLDINGS LLC 6.625 10/15/2025 250,000 106.63 266,562.50 0.91% B
FLRT 70014LAA8 PARK AEROSPACE HOLDINGS 5.25 8/15/2022 250,000 105.51 263,772.50 0.90% FB
FLRT 44267DAB3 HOWARD HUGHES CORP 5.375 3/15/2025 250,000 104.73 261,825.00 0.89% B
FLRT 82967NBE7 SIRIUS XM RADIO INC 4.625 7/15/2024 250,000 104.13 260,312.50 0.88% B
FLRT 87264AAN5 T-MOBILE USA INC 6.375 3/1/2025 250,000 103.75 259,375.00 0.88% B
FLRT 38113YAE9 GOLDEN NUGGET INC 6.75 10/15/2024 250,000 103.63 259,062.50 0.88% B
FLRT LX169275 00005 Navistar International 11/17 Co 11/06/24 Term Loan 246,250 99.97 246,173.66 0.84% TL
FLRT LX162709 00002 Garda World Security Corporatio 05/24/24 Term Loan 244,361 100.26 244,991.32 0.83% TL
FLRT LX161958 00005 CCC INFORMATION SERVICES INC 04/29/24 Term Loan 245,614 99.66 244,770.33 0.83% TL
FLRT LX173150 00005 HUB INTERNATIONAL TLB 04/25/25 TERM LOAN 246,875 99.11 244,680.28 0.83% TL
FLRT LX164782 00001 FTR TL B 1L 06/17/24 TERM LOAN 245,000 99.81 244,540.63 0.83% TL
FLRT LX176623 00005 MCAFEE TLB 09/30/24 Term Loan 242,892 100.41 243,894.29 0.83% TL
FLRT LX153246 00001 BOMBARDIER R 05/23/23 TERM LOAN 243,789 99.98 243,732.99 0.83% TL
FLRT LX160614 00001 Arch Coal, Inc 03/07/24 Term Loan 244,987 99.44 243,610.61 0.83% TL
FLRT LX173259 00005 PLASTIPAK TLB 10/14/24 Term Loan 245,625 99.10 243,424.19 0.83% TL
FLRT LX173320 00005 SRS Distribution 5/23/25 Cov-Lite Term Loan 247,500 97.85 242,189.89 0.82% TL
FLRT LX173977 00006 SOLENIS 6/18 (USD) COV-LITE 06/26/25 TERM LOAN 246,875 97.98 241,899.23 0.82% TL
FLRT LX162387 00001 PLAYRE TL B 1L 04/29/24 Term Loan 245,006 96.20 235,695.69 0.80% TL
FLRT 88167AAC5 TEVA PHARMACEUTICALS NE 2.2 7/21/2021 250,000 93.63 234,062.50 0.80% FB
FLRT LX171691 00005 Air Medical Group Holdings, Inc 04/28/22 Term Loan 244,994 94.36 231,174.75 0.79% TL
FLRT LX174166 00005 AVAYA INC. 12/16/24 TERM LOAN 231,707 96.53 223,654.92 0.76% TL
FLRT LX165183 00007 Brand Energy and Infrastructure 06/21/24 Term Loan 231,993 96.06 222,858.11 0.76% TL
FLRT LX165635 00005 KLOCKNER PENTAPLAST TLB L+425 06/30/22 Term Loan 246,241 89.45 220,253.58 0.75% TL
FLRT 008674AH6 AHERN RENTALS INC 7.375 5/15/2023 250,000 86.25 215,625.00 0.73% B
FLRT LX182135 00005 ALBERTSON'S, LLC 08/17/26 TERM LOAN 203,690 100.76 205,227.98 0.70% TL
FLRT LX160554 00001 B.C. Unlimited Liability Compan 02/16/24 Term Loan 202,797 100.45 203,709.60 0.69% TL
FLRT LX173656 00005 MICHAELS STORES 01/30/23 Term Loan 200,940 97.12 195,163.43 0.66% TL
FLRT LX169998 00001 Rexnord LLC 08/21/24 Term Loan 188,251 100.69 189,544.79 0.64% TL
FLRT LX173634 00005 ON Semiconductor 03/31/23 Term Loan 178,350 100.39 179,042.66 0.61% TL
FLRT LX178418 00005 STANDARD AERO LTD 04/06/26 TERM LOAN 174,825 100.67 175,995.62 0.60% TL
FLRT LX156414 00002 Proampac 11/20/23 Term Loan 179,415 96.42 172,985.97 0.59% TL
FLRT LX160554 00002 B.C. Unlimited Liability Compan 02/16/24 Term Loan 148,933 100.45 149,603.42 0.51% TL
FLRT LX165183 00005 Brand Energy and Infrastructure 06/21/24 Term Loan 146,970 96.06 141,182.93 0.48% TL
FLRT LX174166 00006 Avaya Inc. 12/16/24 Term Loan 137,668 96.53 132,884.30 0.45% TL
FLRT 12505FAF8 OUTFRONT MEDIA CAP LLC/C 5.875 3/15/2025 125,000 103.50 129,375.00 0.44% B
FLRT 210383AA3 CONSTELLIUM SE 5.75 5/15/2024 125,000 103.00 128,750.00 0.44% B
FLRT 577081BA9 MATTEL INC 2.35 8/15/2021 125,000 97.50 121,875.00 0.41% B
FLRT LX156414 00004 Proampac 11/20/23 Term Loan 122,492 96.42 118,102.91 0.40% TL
FLRT LX173656 00003 MICHAELS STORES 01/30/23 Term Loan 116,545 97.13 113,194.80 0.38% TL
FLRT LX165183 00006 Brand Energy and Infrastructure 06/21/24 Term Loan 114,708 96.06 110,191.56 0.37% TL
FLRT LX159202 00001 Reynold 02/06/23 Term Loan 101,390 100.41 101,808.87 0.35% TL
FLRT LX156414 00003 Proampac 11/20/23 Term Loan 105,418 96.42 101,640.14 0.35% TL
FLRT LX173656 00004 MICHAELS STORES 01/30/23 Term Loan 103,484 97.12 100,509.17 0.34% TL
FLRT LX168603 00001 AVANTOR PERFORMANCE MATERIALS H 11/21/24 TERM LOAN 95,322 100.91 96,186.27 0.33% TL
FLRT LX171269 00006 Scientific Games 2/18 B5 Term Loan 96,300 99.29 95,619.97 0.32% TL
FLRT LX175815 00006 AKZ0 NOBLE TLB 10/01/25 TERM LOAN 81,196 98.65 80,096.64 0.27% TL
FLRT LX156414 00005 Proampac 11/20/23 Term Loan 80,174 96.42 77,301.41 0.26% TL
FLRT 74166MAA4 PRIME SECSRVC BRW/FINANC 9.25 5/15/2023 72,000 105.19 75,735.00 0.26% B
FLRT LX169575 00001 CAMELOT FINANCE LP TLB L+325 10/03/23 TERM LOAN 73,151 100.73 73,684.80 0.25% TL
FLRT LX159202 00003 Reynold 02/06/23 Term Loan 61,899 100.41 62,155.04 0.21% TL
FLRT LX169575 00003 CAMELOT FINANCE LP TLB L+325 10/03/23 TERM LOAN 45,062 100.73 45,390.36 0.15% TL
FLRT 269808101 EAGLE POINT CREDIT CO INC 1,905 15.60 29,718.00 0.10% MF
FLRT LX173656 00001 MICHAELS STORES 01/30/23 Term Loan 20,094 97.13 19,516.35 0.07% TL
FLRT LX169575 00004 CAMELOT FINANCE LP TLB L+325 10/03/23 TERM LOAN 10,997 100.73 11,077.28 0.04% TL
FLRT LX169575 00002 CAMELOT FINANCE LP TLB L+325 10/03/23 TERM LOAN 5,576 100.73 5,616.66 0.02% TL
FLRT LX165183 00008 Brand Energy and Infrastructure 06/21/24 Term Loan 2,532 96.06 2,431.97 0.01% TL
FLRT LX171269 00007 Scientific Games 2/18 B5 Term Loan 1,256 99.29 1,247.41 0.00% TL
FLRT LX162709 00001 Garda World Security Corporatio 05/24/24 Term Loan 627 100.26 628.19 0.00% TL
FLRT LX173150 00006 HUB INTERNATIONAL TLB 04/25/25 TERM LOAN 625 99.11 619.44 0.00% TL
FLRT LX173977 00005 SOLENIS 6/18 (USD) COV-LITE 06/26/2025 TERM LOAN 625 97.98 612.40 0.00% TL
FLRT SECLEND SECLEND 0 100.00 0.01 0.00% RP
FLRT X9USDJPMR JP MORGAN USD GOVT MONEY MARKET INSTL 845,344 1.00 845,343.60 2.87% MM
FLRT CASH 91,587 100.00 91,587.20 0.31% CA

FUND

Characteristics

As of 07/31/2019

FLRT Sector Allocation

Pacific Asset Management (PAM) provides credit-quality ratings, which are received on underlying securities of the Fund from major rating agencies. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). When the rating agencies rate a security differently, PAM uses the higher rating. Below investment grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

FUND

Fixed Income Attributes

As of 07/31/2019

Description Percentage
30-Day SEC Subsidized Yield 4.33%
30-Day SEC Unsubsidized Yield 3.92%

Past Performance is not indicative of future results. 30–Day SEC Yield (Standardized Yield) is an annualized yield that is calculated by dividing the investment income earned by the Fund less expenses over the most recent 30-day period by the current maximum offering price. The Subsidized Yield reflects fee waivers and/or expense reimbursements recorded by the Fund during the period. Without waivers and/or reimbursements, yields would be reduced. The Unsubsidized Yield does not adjust for any fee waivers and/ or expense reimbursements in effect. If the Fund does not incur any fee waivers and/or expense reimbursements during the period, the 30-Day Subsidized Yield and 30-Day Unsubsidized Yield will be identical.

Pacific Asset Management (PAM) provides credit-quality ratings, which are received on underlying securities of the Fund from major rating agencies. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). When the rating agencies rate a security differently, PAM uses the higher rating. Below investment grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

Average Weighted Coupon is generated by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid out on a fixed-income security on an annual basis.
Yield to Maturity describes the rate of return an investor will receive if a long-term, interest-bearing security, such as a bond, is held to its maturity date. Average Yield to Maturity represents the average YTM of the funds portfolio of bonds.

FUND

Fees & Expenses

Management Fee 0.95%
Other Expenses 0.67%
Gross Expenses Ratio 1.66%
Fee Waiver and/or Expense Reimbursement -0.52%
Net Expense Ratio 1.14%

*The Advisor has contractually agreed to reduce its fees and/or reimburse expenses to keep net expenses from exceeding 0.99% of the Fund’s average daily net assets for at least one year from the date of the Prospectus.

Last Ten

Fund Distributions

Ex-Date Record Date Pay Date Cash Div ST Cap Gain LT Cap Gain Return of Capital Total Distribution (per share) FLRT
12/27/2019 12/30/2019 - - - - -
11/26/2019 11/27/2019 - - - - -
10/28/2019 10/29/2019 - - - - -
09/25/2019 09/26/2019 - - - - -
08/27/2019 08/28/2019 08/30/2019 $0.15978 $0.00 $0.00 $0.00 $0.18593
07/26/2019 07/29/2019 07/31/2019 $0.19290 $0.00 $0.00 $0.00 $0.19290
06/25/2019 06/26/2019 06/28/2019 $0.15978 $0.00 $0.00 $0.00 $0.15978
05/28/2019 05/29/2019 05/31/2019 $0.21393 $0.00 $0.00 $0.00 $0.21393
04/25/2019 04/26/2019 04/30/2019 $0.16548 $0.00 $0.00 $0.00 $0.16548
02/26/2019 02/27/2019 02/28/2019 $0.17989 $0.00 $0.00 $0.00 $0.17989
01/28/2019 01/29/2019 01/31/2019 $0.18261 $0.00 $0.00 $0.00 $0.18261
12/27/2018 12/28/2018 12/31/2018 $0.16718 $0.00 $0.00 $0.00 $0.16718
11/27/2018 11/28/2018 11/30/2018 $0.17046 $0.00 $0.00 $0.00 $0.17046
10/26/2018 10/29/2018 10/31/2018 $0.19255 $0.00 $0.00 $0.00 $0.19255
09/26/2018 09/27/2018 09/28/2018 $0.15863 $0.00 $0.00 $0.00 $0.15863
08/27/2018 08/28/2018 08/31/2018 $0.17165 $0.00 $0.00 $0.00 $0.17165
07/26/2018 07/27/2018 07/31/2018 $0.16042 $0.00 $0.00 $0.00 $0.16042
06/25/2018 06/26/2018 06/29/2018 $0.12630 $0.00 $0.00 $0.00 $0.12630
05/25/2018 05/29/2018 05/31/2018 $0.15685 $0.00 $0.00 $0.00 $0.15685
04/25/2018 04/26/2018 04/30/2018 $0.16188 $0.00 $0.00 $0.00 $0.16188
03/26/2018 03/27/2018 03/29/2018 $0.11165 $0.00 $0.00 $0.00 $0.11165
02/26/2018 02/27/2018 02/28/2018 $0.14616 $0.00 $0.00 $0.00 $0.14616
01/26/2018 01/29/2018 01/31/2018 $0.13258 $0.00 $0.00 $0.00 $0.13258
12/27/2017 12/28/2017 12/29/2017 $0.14166 $0.00 $0.00 $0.00 $0.14166
11/28/2017 11/29/2017 11/30/2017 $0.13872 $0.00 $0.00 $0.00 $0.13872
10/27/2017 10/30/2017 10/31/2017 $0.12954 $0.00 $0.00 $0.00 $0.12954
09/26/2017 09/27/2017 09/29/2017 $0.11144 $0.00 $0.00 $0.00 $0.11144
08/25/2017 08/29/2017 08/31/2017 $0.13305 $0.00 $0.00 $0.00 $0.13305
07/26/2017 07/28/2017 07/31/2017 $0.14237 $0.00 $0.00 $0.00 $0.14237
06/23/2017 06/28/2017 06/30/2017 $0.10675 $0.00 $0.00 $0.00 $0.10675
05/23/2017 05/26/2017 05/31/2017 $0.13903 $0.00 $0.00 $0.00 $0.13903
04/21/2017 04/26/2017 04/28/2017 $0.14105 $0.00 $0.00 $0.00 $0.14105
03/24/2017 03/28/2017 03/31/2017 $0.13792 $0.00 $0.00 $0.00 $0.13792
02/23/2017 02/27/2017 02/28/2017 $0.15173 $0.00 $0.00 $0.00 $0.15173
01/25/2017 01/27/2017 01/31/2017 $0.10340 $0.00 $0.00 $0.00 $0.10340
12/23/2016 12/28/2016 12/30/2016 $0.18560 $0.00 $0.00 $0.00 $0.18560
11/23/2016 11/28/2016 11/30/2016 $0.14010 $0.00 $0.00 $0.00 $0.14010
10/25/2016 10/27/2016 10/31/2016 $0.15550 $0.00 $0.00 $0.00 $0.15550
09/26/2016 09/28/2016 09/30/2016 $0.13740 $0.00 $0.00 $0.00 $0.13740
08/25/2016 08/29/2016 08/31/2016 $0.14130 $0.00 $0.00 $0.00 $0.14130
07/25/2016 07/27/2016 07/29/2016 $0.14960 $0.00 $0.00 $0.00 $0.14960
06/24/2016 06/28/2016 06/30/2016 $0.14640 $0.00 $0.00 $0.00 $0.14640
05/24/2016 05/26/2016 05/31/2016 $0.13600 $0.00 $0.00 $0.00 $0.13600
04/25/2016 04/27/2016 04/29/2016 $0.13350 $0.00 $0.00 $0.00 $0.13350
03/24/2016 03/29/2016 03/31/2016 $0.13110 $0.00 $0.00 $0.00 $0.13110
02/23/2016 02/25/2016 02/29/2016 $0.13190 $0.00 $0.00 $0.00 $0.13190
01/25/2016 01/27/2016 01/29/2016 $0.10420 $0.00 $0.00 $0.00 $0.10420
12/24/2015 12/29/2015 12/31/2015 $0.18670 $0.00 $0.00 $0.00 $0.18670
11/23/2015 11/25/2015 11/30/2015 $0.13430 $0.00 $0.00 $0.00 $0.13430
10/26/2015 10/28/2015 10/30/2015 $0.15650 $0.00 $0.00 $0.00 $0.15650
09/24/2015 09/28/2015 09/30/2015 $0.16230 $0.00 $0.00 $0.00 $0.16230
08/25/2015 08/27/2015 08/31/2015 $0.15420 $0.00 $0.00 $0.00 $0.15420
07/24/2015 07/28/2015 07/30/2015 $0.14690 $0.00 $0.00 $0.00 $0.14690
06/24/2015 06/26/2015 06/30/2015 $0.19990 $0.00 $0.00 $0.00 $0.19990
05/22/2015 05/27/2015 05/29/2015 $0.17200 $0.00 $0.00 $0.00 $0.17200
04/24/2015 04/28/2015 04/30/2015 $0.14640 $0.00 $0.00 $0.00 $0.14640
03/25/2015 03/27/2015 03/31/2015 $0.05740 $0.00 $0.00 $0.00 $0.05740
  • 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. Investing in derivatives may be riskier than other types of investments because they are more sensitive to change in economic or marketing conditions that could result in losses that significantly exceed the Fund’s original investment. The Fund primarily invests in floating rate loans and floating rate debt securities. The market for floating rate loans may be subject to irregular trading activity, wide bid/ask spreads, and extended trade settlement periods. The floating rate feature of loans means that floating rate loans will not generally experience capital appreciation in a declining interest rate environment. Declines in interest rates may also increase prepayments of debt obligations and require the Fund to invest assets at lower yields. Other Fund risks include market risk, leverage risk, foreign investment risk, liquidity risk, income and interest rate risk, liquidity risk, management risk, high yield securities risk, loan participation risk, prepayment risk, and trading risk. Please see the prospectus for details regarding risk.